Over four-fifths (82 per cent) of marketers in the private sector have received a pay rise in the past twelve months, research by the Chartered Institute of Marketing (CIM) has found, with pay increases averaging 4 per cent.
The Marketing Rewards survey also discovered that not only were bonuses smaller in the public sector marketing arena – averaging 3 per cent – but 43 per cent saw pay freezes.
However, the report, carried out by Croner in conjunction with CIM, found that public sector marketers’ annual basic pay still outstrips that of their private sector counterparts at three out of four management levels.
David Thorp, director of research and professional development at The Chartered Institute of Marketing, said: “It’s clear that, as the public sector continues to feel the impact of a long and tough recession, the private sector is beginning to see the seeds of a recovery. That’s very positive news, and we hope that next year’s research will identify the same upward trend in the public sector. The can-do attitude and high job satisfaction show how rewarding a role in marketing is, and how our profession is well placed to lead the way out of recession. At the same time, it’s extremely encouraging to see that the gender pay gap appears to be finally closing in marketing – a fact reflected by the increasing number of women holding senior marketing roles.”
It was discovered that twice as many marketers in the public and voluntary sectors rate their job security as ‘poor’ or ‘bad’, with 50 per cent of all marketers in the public sector are currently looking to move job.
Despite this, 85 per cent of marketers feel that their pay is in line with or above the market, and 9 out of 10 reported ‘fair’ to ‘excellent’ job satisfaction, with a predicted pay increase of 3 per cent across the industry forecast for the coming year.