Recent membership studies by the Marketing Executives Networking Group (MENG) find that some 70% of marketing executives say there is a shortage of executive talent and salary parity has been achieved between the?genders (at least among MENG members).
The studies, which were conducted in partnership with ExecuNet and Salary.com, respectively, reveal new salary and executive job market trends.
The 183 MENG members participating in ExecuNet’s 16th Annual Executive Job Market Intelligence Report overwhelmingly say the demand for executive-level marketing talent continues to increase despite the threat of recession.
“Job growth at the executive level is not moving in lockstep with the rest of the employment market,” said Mark Anderson, president and chief economist at ExecuNet. “Thanks in part to an aging workforce and global economic growth, the demand for executive talent continues to increase while the threat of a recession looms.”
MENG members participating in Salary.com’s 2008 Marketing Executive Compensation Trends Survey revealed that female and male marketing executives earn similar yearly salaries despite 2006 US Department of Labor statistics that show US women on average made 66.5% of what men made for these types of jobs.
Specifically, the online survey of 397 respondents revealed that the average yearly salary for a female VP of marketing is $190,000, while the average yearly salary for a male is $185,000.
Among top division marketing executives, females made an average of $185,000 and males made $175,000.
“The closing of the salary gap based on gender is a welcome surprise,” said MENG president Richard Guha. “Studies have shown the gap closing over time, but I’m thrilled to hear the playing field has leveled out.”
Other survey findings:
- Among respondents, the average number years of marketing experience is 17.9
- The average number of years in current job is 6.37.
- The average number of companies worked for is 5.4.
- The average number of jobs held is 7.94.
- 35% of members have more than five direct reports.