The salary of a marketing executive is going to have many variables. One is going to be the area in which you work. A marketing executive in the London area can expect a higher salary than someone working with a smaller, local organisation.
That being said, the smaller firms can sometimes have an extremely high turnover, given the lower overheads. This can often be the case when the marketing executive is responsible for the digital marketing of services and products, taking the business online and using different digital advertising campaigns, tailored to reach a target audience online, using different media outlets.
Generally speaking though, there are expectations you can have for a salary of a marketing executive and they will vary from one position to the other.
This is your entry-level job in the marketing profession, and you can expect to earn around the £15K mark per annum. The good part of this is while you’re starting out, you can work towards industry recognized qualifications through distance learning, and sometimes even as part of a company’s in-house training too.
Starting out as a Junior Marketing Executive, you will need the drive to succeed, inspire your colleagues in a team environment and communicate your ideas to market the products and/or services efficiently and let your manager or supervisor see the potential in you, to further your career and boost your chances of promotion internally.
As a manager responsible for either managing a team of sales associates, and the marketing budget, you can expect a handsome remuneration package.
Often in the region of £25K annually, although this is going to be dependent on the size of the sales force you’re responsible for managing, the allocated marketing budget a company has to work with, as well as the different channels you’ll be expected to advertise with.
A marketing budget will have the salaries of the sales team allocated to it, before the final figures are passed to the marketing dept. What’s left is what you’ll be expected to generate the most return from, by using cost-efficient marketing channels, and ensuring the budget isn’t exceeded.
As the head of marketing, your salary is going to be in line with the responsibilities you have. The larger a marketing department, you’re responsible for managing, the higher your salary will be. Again, this is dependent on the area you work and the company’s revenue.
The more revenue you can drive, the higher your remuneration package will be. For smaller sized firms with a small sales force, you can expect to an average salary of £35’000 and on the higher end of the pay scale, you could earn around £60k. Therefore, it’s certainly worth broadening your horizon and diversifying your CV with work experience with as many firms as you can. For a career as the head of marketing, many marketing executives will find there comes a time, when they’ve capped the returns they’re able to make for a company. They’ll take a job, boost the sales volume ten-fold, and realize that there’s no longer ample room for them to make a significant amount more. Therefore, they’ll part companies knowing that they’ve fulfilled their role as the head of marketing, generated a significant boost in revenue and move onto a higher paying role with another firm.
At this level, you can find yourself shifting positions every couple of years, to gain the maximum job satisfaction, by boosting revenue in each company you choose to work with.
Working with agencies can be viewed by some of more a challenging position.
The higher a client a base a marketing agency has, the higher you can expect your salary to be. It’s also worth noting that marketing agencies often have different roles available within their marketing department, so they can best serve their clients.
Some of the roles and salaries are detailed below, to give you an indication of the earnings and responsibilities you may have with marketing agencies.
With larger marketing agencies, they will have a demand for a market research analyst. In this role, you’ll be responsible for identifying with target audiences and relaying back the key areas that need to be incorporated into the marketing of a product or service.
You’ll be skilled with written and verbal communication to convey the demographic audience needing reached for a wide client database. In return for your expertise in market research, you can expect a compensation package anywhere from £17’000 – £32’000 dependent on your level of experience and expertise.
Starting out as a media buyer, you’ll be largely responsible for negotiating the best price for advertising packages across a number of media spots. The salary will start out around £18’000 per annum, although that can be increased by working with agencies, in major cities, who have a number of clients.
The larger an agencies client base, the more essential it is for them to have a dedicated media buyer to negotiate the best price for advertising in order for the agency to lower their overheads.
Progressing onto a senior media buyer role, can put you in a salary expectation level of £50’000 per annum, although for these positions you will be required to have a minimum of 3 to 5 years of experience as a media buyer, as you’ll then be specialised to that area of marketing.
Working as a PR consultant, you’ll be highly involved in generating buzz with consumers through a variety of marketing channels.
The salary expectation here is around £30k per year, however when you first start out in the Public Relations sector, you can expect to be the lower end of the pay scale, earning around £17K per annum. Therefore, this is more of a role for someone starting out in the profession, and then proceeding onto a Junior Marketing executive position, or perhaps even a market research analyst, to gain more industry experience.
If Public Relations is an area that you enjoy working, then you can become an expert in that field in turn, expect a salary increase towards the £30’000 range. In marketing, there’s a number of different key roles and plenty of opportunity to expand your career, into a more ambitious role with higher expectations and responsibilities, with salary increases along the way. Before you get involved in marketing, it would be ideal to have a career plan in mind, or an expectation of what salary you’d like to earn, so you know the role you need to strive for in your career.
If you’re looking for six figure salaries, as a marketing executive, you’re going to have to climb to the very top of your profession. Show the highest degree of marketing skills and qualifications, build your career profile, and be excellent with salary negotiation techniques, so you can earn the most you can for generating sales for each of employer you work with.