Marketing salaries – how do the key sectors perform in B2B and B2C?
Karen Lloyd Marketing, candidate, employer...
We like to keep our finger on the pulse here at Armstrong Lloyd and each year we do a round up of marketing salaries, benchmarking and reviewing marketing salary surveys.
Marketing is one of the most dynamic industries to work in. This means it is one of the most fast moving job markets too, whether you are client side or in a marketing agency, a B2B specialist or a digital marketing expert there are exciting opportunities to be had.
Today, even though people are still nervous about the ongoing effects of the “B” word, the market is continues to move and marketing salaries are at worst remaining relatively static and at best increasing beyond national levels.
B2C Marketing Salaries
It is no surprise that when it comes to paying well, FMCG as a sector continues to perform at the top of the table. According to Marketing Week’s recent salary survey; 2020 saw average salaries in FMCG reach £63,9k, compared to an average of £58,3k last year where it was second only to consumer electronics. Gambling and gaming, and health and pharmaceuticals came in second and third respectively. A notable rise of 5 places up the table for health and pharma, mainly owing to their global structure.
Marketing salaries at the bottom end of the table continue to be significantly above the national average. Education finds itself in the bottom spot for the first time with an average salary of £44,4k. Charity and not for profit continue to find themselves in the bottom three as marketers drawn to this sector prioritise job satisfaction and seem to be prepared to sacrifice a little when it comes to salary.
Average marketing salaries across seniority levels have seen no significant rise this year, with an average Marketing Executive salary increasing from £26,5k to £26,6k on average. Interestingly, B2B marketers enjoy an average Marketing Executive salary that is notably higher at £29,5k (according to B2B Marketing’s most recent 2019 Salary Survey).
B2B Marketing Salaries
B2B marketers have good news. According to B2B Marketing's most recent salary survey, it has been performing well in terms of overall average marketing salaries; £60,4k – a 16% YoY increase. Interestingly, clientside has outperformed marketing agencies with the average client side marketing salary coming in at £60,7k, as opposed to agency’s £59,2k.
As B2B speeds up its adoption of new tech and marketing advances, so the need for people with those skills increases. This has lead to a rise in marketing salaries that is “indicative of the demand for quality talent out there and the price premium that goes with that”.
In terms of sector performance in B2B, Property and Construction leads the pack with an average marketing salary of £65k. Professional Services (£63,7k) makes its entrance to the top three as they adopt more strategic marketing functions, followed by the ever present IT and Telecomms (£63k). Encouragingly, the Technology sector saw a rise of 17% on the previous year, bringing it more into line with the IT and Telecomms marketing salaries.
Financial services have dropped out of the top three for the first time in a while, but is still paying over the average at £62,2k. At the bottom of the list we (perhaps unsurprisingly) find industrial, manufacturing and engineering, maintaining a an historical trend.
It is heartening to find that in general marketing salaries are increasing. There are no great surprises in the highest and lower paying sectors, with overall historical trends continuing with the big payers, but encouraging that the salary gaps between them are decreasing on the whole.
Check out our next blog to see how the sectors stack up when it comes to the gender pay gap, which disappointingly only seems to be getting worse.