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Keeping up to date with the marketing recruitment industry can be tricky. With new industry ...
Keeping up to date with the marketing recruitment industry can be tricky. With new industry trends, technologies and talent, the market is constantly changing. This means that there is often a lot to catch up on when hiring managers start recruiting for marketing professionals.
Pay is often most impacted by changes in the recruitment world. For instance, did you know that the average salary increased by 20% between 2021 and 2022 alone? As a result, many senior marketing leaders have had to re-assess their expectations around pay to meet candidate expectations.
If you find yourself in the same situation, keep reading for our ultimate guide to understanding marketing salaries.
Or, for more detailed advice around pay, access our How to Hire in 2023 report. This up to date report breaks down hundreds of job titles by industry, seniority and contract type.
For junior marketing jobs in London, you will often find that permanent compensation packages range between £25,000 - £45,000. This will differ depending on experience of the candidate, as well as the business industry. For instance, as a rule of thumb, salaries within financial services businesses tend to be 10 - 20% higher than other industries.
Job titles at this level include Marketing Assistants and Marketing Executives who are fundamental to the execution of campaigns. These are normally entry level marketing roles and are popular among recent graduates.
Moving up from junior roles, Marketing Managers in London will be looking at a pay range of £40,000 - £85,000. This tends to be slightly higher for Digital Marketing Managers. Digital marketers can expect a starting salary of £45,000, with the higher end reaching £90,000.
Marketing Managers are instrumental to the growth of your team. Their experience level and industry knowledge allows them to be more involved with the implementation of your marketing strategy. Plus, they will also play a key role in overseeing and managing less experienced team members.
For senior marketing roles, you can expect to pay between £75,000 and £220,000. Titles at this level include:
Senior marketers are instrumental in setting and leading your company's marketing strategy. They play a crucial role in selling your product or service, as well as growing your marketing team.
At this level, the pay ranges tend to be broader than others, with some gaps reaching over £90,000. Salary is largely dependent on the individual at this seniority, as you pay for a person's wealth of knowledge and experience.
We would highly recommend working with an Executive Search Consultant, if you're recruiting for one of these positions. Search consultants deliver advice and guidance tailored to your company's requirements, so you know that you're making the best possible offer.
When recruiting, one of the very first things you need think about is securing an appropriate hiring budget. There are several things you'll need to get approval, including a use case and a comprehensive job description. However, the most important part will be researching and understanding the latest salary expectations.
Ultimately, salaries can impact which marketing jobs you hire for and at what level. As a result, it's crucial that you have a strong understanding before starting your talent search.
Here is how you can find the latest salary information and secure your hiring budget.
The starting point for many hiring managers will be live job adverts. Searching LinkedIn and job boards for similar businesses who are recruiting for similar job titles will help you understand the competition. Knowing what compensation packages they're providing will allow you to offer a competitive package.
It's important not to rely solely on job ads, however, as many do not include salary information. This is not a strategy we would recommend. Research shows that candidates prefer to see the compensation on offer before applying to a job.
Working with a marketing recruitment agency on your talent search has many benefits. One key positive is that they're able to support you with any changes in the market as they happen. Plus, as a third party in the recruitment process, they will often receive honest feedback from candidates. Recruiters are in a unique position to suggest salary adjustments based on market trends and feedback from candidates.
Yearly salary reports are one of the best ways to research the most up to date salary information. At 3Search, we have recently updated our 2023 report with hundreds of salaries broken down by specialism, industry and seniority.
Searching for more in-depth, personalised advice around marketing salaries? Get in touch with our specialist recruiters for guidance tailored to your business' unique requirements and start hiring today.