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A year of flux.
Some businesses are busier than ever. Others are basically shut down. It’s going to be a very uneven recovery.
The digital marketers we know are mostly very busy. But is that true across the board? We have some questions:
Has the pandemic impacted job opportunities for marketers?
What about salaries and compensation?
Every 18 months, we step back and look at the various marketing jobs, to see how both the roles (job descriptions) and the compensation (salary and benefits) have changed. This is our fourth Marketing Compensation Report.
Here are the updated marketing salaries, followed by the detailed job descriptions for each marketing job title.
These marketing job salaries aren’t starting salaries. They are median total compensation numbers based on reports from two sources: Glassdoor and PayScale from 67,000 individuals in the US from the last five years, with various marketing job titles.
First, the data. Then, our commentary.
The data shows a drop in salary for all but one of the marketing positions over the last 18 months. Here are the trends for each of these marketing job titles tracked over the last four and a half years:
A few important caveats about this data:
Not according to the US government.
To see a larger, more credible dataset, we looked at 10 years of data from the Bureau of Labor Statistics.
This has a lot more data, but it is not as granular. All kinds of marketing positions are grouped into a category called “Advertising, Promotions and Marketing Managers.” This likely includes most of the positions listed above, including the more senior roles, which may explain why the salary numbers are much higher.
BLS shows wage growth of 25% over the last 10 years. They also predict growth in opportunities, reporting that marketing jobs are projects to grow at a faster rate than other jobs: 6% vs. 4%.
source: U.S. Bureau of Labor Statistics
The BLS data is for 2019, so it doesn’t include the 2020 recession. Monthly data specifically for marketing roles is not available. But the Bureau for Economic Analysis shows monthly income changes for the overall US economy.
Here’s what the 2020 picture looks like:
Stimulus payments aside, compensation hasn’t grown in the Covid era. But marketing seems to be holding on. In our own survey of 100+ marketing agencies, we found that headcount is holding steady.
We asked Drew McLellan if he’s spotted any job marketer changes for marketers in 2020…
“We work with and see the financials of about 250 agencies a year. I have seen no decrease in annual salaries due to COVID. Some agencies implemented temporary pay cuts or furloughed employees back in the spring, but almost all of them have reinstated full salaries and brought the furloughed employees back.
As agencies have hired in 2020, they’ve had a broader selection of candidates and felt like they didn’t have to inflate the offer just to be considered. It’s definitely easier to find qualified candidates willing to accept normal agency salary ranges. But I haven’t seen one agency deflate the normal salary ranges to get “a COVID bargain.”
We also talked to Lynn Hazan, a local recruiter who works with marketers.
“Overall, during the Pandemic, we have received resumes from candidates whose positions were eliminated on both the agency and corporate sides. Marketing has taken a hit. However, candidates with more technical skill sets are very much in demand. I anticipate that healthcare and technology will continue to grow.”
Marketers in businesses that have been disrupted have been badly affected. But it looks as though salaries are holding steady. And some employers are still finding it tough to find talent.
“Marcel Digital has been hiring for a number of positions all throughout 2020. We found recruiting in the first quarter to be relatively straightforward. There was a volume of resumes of targeted prospects. We were able to conduct interviews, communicate with references, make offers and onboard with little difficulty.
The next 2 quarters and even into Q4 have become increasingly challenging. We believe the job market in Chicago is crowded with agencies looking for talented individuals. Both employers and prospective employees are looking for the right fit in this new normal.”
Here is our take on a few more big questions:
It looks that way in the self-reported data on Glassdoor and PayScale, but there aren’t enough reporting to say for sure. It’s possible that some businesses that have laid off senior managers are hiring back at lower levels of pay.
As titles grow, so does compensation, even when the job descriptions are pretty similar. Let’s take a look.
Here are the descriptions of the seven jobs above. Consider this a “swipe file” that you can use to grab template job descriptions. You are welcome to copy, edit and adapt these to fit your open positions. Each description is available as a Word download and Google Doc.
Marketing Coordinator supports external teams through project support, program execution, collateral development, project support, sales programs, as well as via ad hoc requests.
Qualifications:
Microsoft Word | Google Doc
How much do Marketing Coordinators make? The median Marketing Coordinator salary in 2020 is $45,254.
How much do Marketing Coordinators make?
The median Marketing Coordinator salary in 2020 is $45,254.
Support online and offline marketing and advertising initiatives with the goal of expanding brand awareness within targeted, relevant audiences.
How much do Marketing Associates make? The median Marketing Associate salary in 2020 is $53,851.
How much do Marketing Associates make?
The median Marketing Associate salary in 2020 is $53,851.
Engage with communities and clients through social media channels, with the goal of web traffic, lead generation and revenue. Create, execute and revise social media strategy and social media marketing blueprint.
How much do Social Media Managers make? The median Social Media Manager salary in 2020 is $50,848.
How much do Social Media Managers make?
The median Social Media Manager salary in 2020 is $50,848.
The content strategist works closely with interaction designers, visual designers, product and project managers to:
The responsibilities of the content strategist range from the highly tactical (sometimes making minor content corrections or updates) to the highly strategic (leading design teams or facilitating sessions with executive staff to discover creative solutions to business problems).
How much do Content Strategists make? The median Content Strategist salary in 2020 is $65,732.
How much do Content Strategists make?
The median Content Strategist salary in 2020 is $65,732.
Manage brand messaging via marketing, advertising and promotional activities. Ensures relevant metrics are measured, benchmarks met, staff performance enhanced, and managed communities enriched through assigned goals and objectives.
How much do Marketing Managers make? The median Marketing Manager salary in 2020 is $65,732.
How much do Marketing Managers make?
The median Marketing Manager salary in 2020 is $65,732.
Demonstrate leadership and expertise in marketing. Be savvy in various forms of online and offline demand generation. Charged with leading a wide range of community experiences and becoming the brand voice.
How much do Marketing Directors make? The media Marketing Director salary in 2020 is $99,913.
How much do Marketing Directors make?
The media Marketing Director salary in 2020 is $99,913.
Responsible for determining and leading the strategic direction for the organization’s marketing functions including positioning, brand awareness, driving demand generation and lead nurturing.
How much do VP’s of Marketing make? The median VP of Marketing salary in 2020 is $145,914.
How much do VP’s of Marketing make?
The median VP of Marketing salary in 2020 is $145,914.
A career in any field is rarely a straight line, but there is a progression in job titles, from junior to senior. The job titles are listed in order of seniority. And since this is a content marketing blog, we’ve added a few jobs that are specific to digital.
Note: Notice how the salary data shows very little distance in salaries between the first two job titles, Marketing Associate and Marketing Coordinator. According to the data on Payscale, they are both more junior roles, which most often lead to a Marketing Manager position.
Common marketing career path:
Source: Payscale
Our field is growing. According to the Bureau of Labor Statistics, the future holds a 6% increase in total number of marketing jobs in 2021. That’s above the national average of all fields. The future is still bright for marketers.
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