For martech professionals salaries are good and promotions are coming faster, unfortunately, layoffs are coming faster, too. That’s in keeping with the just-released 2024 Martech Salary and Career Survey. Another very unlucky finding: The median salary of ladies below the C-suite level is 35% lower than what men earn.
The last 12 months saw many alternative economic trends, some at odds with one another. Although unemployment remained very low overall and the economy grew, some businesses — especially those in technology and media — cut each jobs and spending. Reasons cited for the cuts include in the course of the early years of the pandemic, higher rates of interest and corporate greed.
Dig deeper: How to beat marketing budget cuts and hiring freezes
Be that as it could, for the employed it stays a great time to be a martech skilled. Salaries remain lucrative in comparison with many other professions, with an overall median salary of $128,643.
Here are the median salaries by role:
- Senior management $199,653
- Director $157,776
- Manager $99,510
- Staff $89,126
Senior managers make more than twice what staff make. Directors and up had a $163,395 median salary in comparison with manager/staff roles, where the median was $94,818.
Promotions were common up to now 12 months
One-third of those surveyed said they were promoted within the last 12 months, a finding that was nearly equal amongst director+ (32%) and managers and staff (30%).
Extend the timeframe to 2 years, and nearly three-quarters of director+ respondents say they received a promotion, while the identical could be said for two-thirds of manager and staff respondents.
Dig deeper: Skills-based hiring for contemporary marketing teams
Employee turnover
In 2023, we asked survey respondents in the event that they noticed a rise in worker churn and whether or not they would classify that churn as a “moderate” or “significant” increase. For 2024, given the eye on cost reductions and layoffs, we asked if the churn they witnessed was “voluntary” (e.g., people leaving for one more role) or “involuntary” (e.g., a layoff or dismissal). More than half of the marketing technology professionals said churn increased within the last 12 months. Nearly one-third classified many of the churn as “involuntary.”
Men and Women
This 12 months, as a substitute of reporting the common salary as we used, we decided to make use of the median to reduce the impact of outliers within the salary data. As a result, the gap between salaries for men and women is even more glaring than it was previously.
In last 12 months’s report, men earned a mean of 24% more than women. This 12 months the median salary of men is 35% more than the median salary of ladies. That is until you get to the upper echelons. Women at director and up earned 5% more than men.
Methodology
The 2024 MarTech Salary and Career Survey is a joint project of MarTech.org and chiefmartec.com. We surveyed 305 marketers between December 2023 and February 2024; 297 of those provided salary information. Nearly 63% (191) of respondents live in North America; 16% (50) live in Western Europe. The conclusions on this report are limited to responses from those individuals only. Other regions were excluded attributable to the limited variety of respondents.
Download your copy of the 2024 MarTech Salary and Career Survey here. No registration is required.
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