Chief Marketing Officers moving to new companies earn more than their tenured counterparts, according to the latest compensation figures from Eastward Partners’ CMO Market Trends & Future Outlook market report.
The report sees that CMOs with 1-2 years tenure earn more than those with 5-10 years tenure or 10-15 years tenure, respectively.
Total Compensation by Tenure in Current Role (CMO Compensation in the US at Companies and Firms with 100-499 employees):
Tenure: 10-15 Years
Median Compensation: $229,201
Tenure: 5-10 Years
Median Compensation: $270,000
Tenure: 1-2 Years
Median Compensation: £277,945
Overall, 2022 saw compensation growth across the nation for CMOs: National median base salary increased 11.07% since last year, leading to an 8.06% increase in median total cash compensation.
Following this trend, “Excellent compensation and benefits” emerged as the primary factor CMOs are looking for in the market, with 72% of the surveyed talent pool ranking this value proposition as the most important.
The report also noted CMOs will likely leave their post after three years and cites internal mobility as a critical tactic in retaining employees.
Likelihood of retention with an internal move (through promotion or lateral change) after three years at the current company: 64%
Likelihood of retention without an internal move after three years tenure: 45%
The report goes on to specify how CMOs can be hired by activating passive talent, detailing appropriate compensation, and sharing the scope of the opportunity available. The report shares current market rates CMOs receive, geographic hot spots for talent, and the fastest growing skills amongst this talent.
The full report can be found on Eastward Partners website.
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Notes for Editors:
Eastward Partners Inc. is an Executive Search and Human Capital Consultancy. Eastward operate within Middle Market Private Equity functions, Brand and Digital Agencies, Financial Advisory Consultancies and the Human Resources market.
W: www.eastwardpartners.com
E: b.greenstreet@temptingventures.com
T: +44 (0) 204 558 8696
The CMO Update, Future Trends & Oulook Market Report can be found here.
Data Source:
Eastward Partners source data from millions of data points publicly available online, and through proprietary software with access to anonymized compensation figures for almost 40 million employed Americans.
Data is synthesized into groups by title and skills to draw insights and conclusions from specific talent pools to take away trends such as supply and demand, emerging skills, hub locations for that specific group of talent, gender diversity, over a 12-month period.
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