If you decided your business needed a new SVP of Branding or Creative Director today, do you know what salary you’d need to offer to to bring an A-Player into your business?
If you were an ambitious marketing executive considering a great job opportunity in a new city, would you know what a fair rate would be to ask for?
Good marketing is essential for a business to grow and keep up with its competition. And good marketing begins and ends with exceptional leadership and strategy. The right executive talent is absolutely worth its weight in gold; creating a foundation for strategies and policies that will pay dividends for years to come.
The price tag for elite marketing leaders, especially those with a strong digital background, has risen substantially over the last 5 years. Many organizations are out of touch with what it takes to hire the best.
That’s why the executive recruitment specialists at MarketPro developed a free tool to help businesses understand competitive salary rates for common marketing executive jobs across the country (and for marketing execs to have an idea of what they’re worth): meet the Marketing Executive Salary Calculator.
The interactive calculator enables you to filter by location, job title, and company size. It was built using data gathered from years of executive search results, candidate interviews, industry reports, and client input from around the country.
A few things to note before diving in:
- Keep in mind that this tool is designed to only estimate base salary. Executive compensation often involves a variety of other factors like bonuses, benefits, stock options and more.
- The estimated salaries ranges only include companies starting at $25 million in annual revenue. Compensation can vary erratically below that range, and the firm didn’t have enough data to form a reliable claim.
Some Interesting Trends
CMOs Leading the Charge
Unsurprisingly, our research found that the CMO/Head of Marketing leads the way with the highest base salary ranges across the board. However, Head of Digital and Head of Ecommerce have been gaining ground and aren’t far behind. Creative Directors on average made the least out of all the roles we evaluated–however, they were still competitive with many of their peers.
Salary ranges could vary widely depending on company size–not something many salary guides account for. For instance, here’s the breakdown of what a VP Marketing Analytics in the San Diego area might make at businesses of various scales:
You’ll notice the minimum bound rises fairly consistently, while the upper limit can get quite high once you start hitting the billion-dollar plus range. This trend is consistent with most of the executive jobs that were researched in almost all locations.
Location, Location, Location
Geographic location also plays a big factor. Localized industry trends and cost of living can significantly impact what companies can expect to pay a senior marketer. I selected a few cities around the country to show how an SVP or Head of Brand of a $300 million company could expect their base comp to very depending on where their job was based.
Contributors to Rising Salary
With a few exceptions, compensation for marketers in general and marketing executives in particular is rising across the board.
The first reason is a simple matter of supply and demand. Smart businesses are catching on to the fact that they need clever marketing leadership to engage today’s consumers and stay on top of digital trends, and hiring is up. However, the supply of talent with a proven ability to fulfill those needs hasn’t kept up, inflating salaries of top talent.
Second, senior marketers (the good ones, at least) are in a stronger position than ever to make a case for higher compensation. Thanks to refined attribution tactics and the development of advanced analytics tools, they’re able to point directly towards indisputable evidence of the value they’ve provided. They can then leverage that for a raise at their current business or use it as ammunition during salary negotiation at their next gig.