FINANCIAL SERVICES MARKETERS AMBIVALENT ABOUT SALARY AND BONUSES BUT MONEY STILL TALKS
Despite the fact that marketing is arguably a discretionary spend, just over half of financial services marketers have seen salary increases of up to 20% over the last two years and just over 13% have seen increases of over 20%. That’s according to a salary and bonus survey undertaken by specialist financial services recruiter McGregor Boyall
While well over a third of financial services marketing professionals were not eligible for a bonus, of those who were, almost a quarter received 10% of their base salary or less. Almost a fifth received over 30% and almost another quarter received between 11% and 30%.
Respondents appeared fairly ambivalent about salary and bonus expectations for next year with almost 70% predicting no real change in salary and almost half ( 47%) expecting no change in bonus levels.
However, it is clear that money still talks – although not at all costs. When asked what factors would influence their decision when looking for a new job, base salary was seen as the most important influencer with career progression coming a close second.
Commenting on the results, Emma Jerome who heads up the Marketing Division at McGregor Boyall said: “Despite the continuing economic uncertainty, we are finding that there is there is increased pressure on businesses to source high calibre and talented marketing professionals to play a key role in driving businesses forward – and while compensation levels are important – it is important for employers to keep in mind the other motivators such as exposure to new challenges, work life balance and career progression."
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