January 04, 2023
While we all love the year-end holidays, these can be “hell-days” when it comes to performance reviews and compensation negotiation for most chief marketing officers.
We polled over 60 chief marketers in the CMO Council LinkedIn groups in November with the question below. Most are expecting more than a little bump in financial rewards this year, but there are still 36 percent who are going to bite the bullet and hope 2023 will see better returns.
“What type of compensation adjustment do you expect based on your marketing leadership and group performance in 2022?”
Salary increase of 10%+
Bonus or stock awards
Both, plus more benefits
No adjustment to compensation
The CMO Council’s online resource (www.cmocompensation.com) for chief marketers to compare salaries and other income and benefits against their peers provides a wealth of current and historical data. Senior marketers can benchmark their compensation based on gender, company size, industry sector, number of employees, geography, etc.
Analytics from more than 120 profiles created over the past 18 months reveals:
The Smart Way to Track Marketing Pay – The CMO Council’s new initiative to benchmark chief marketer compensation around the globe has gained real traction. The CMOCompensation.com web site is attracting strong interest and hundreds of marketers have created profiles of their compensation packages to see how they stack up against peers. This is a valuable resource for management, boards, HR, recruiters and marketing leaders to look at compensation levels, elements and variations by industry, geography, area of responsibility, and size of company. Visit: www.cmocompensation.com
There is more and more transparency today in tracking and reporting CMO compensation. A quick scan of the Internet reveals a range of CMO compensation numbers from different salary, recruitment, and advisory service websites. Here’s a quick reference list:
Related: Get ahead of the disruption! Become a CMO Council Member today!
Donovan Neale-May is the Founder and Executive Director of the CMO Council, the Growth Officer Council (www.growthguidancecenter.com), and the Business Performance Innovation (BPI) Network (www.bpinetwork.org), a global community of executive change agents driving business reinvention, IT transformation, and process improvement across the enterprise.
No comments yet.