Marketing professionals with data and analytics skills are set to be in high demand over the coming year. Nearly all (93%) marketing employers say they have experienced skills shortages over the last year, with professionals’ skills failing to keep pace with the ever-changing needs of employers.
Despite these skills shortages, salaries have risen by a fairly modest average of 1.3% across the sector, according to the Hays UK Salary & Recruiting Trends 2019 guide. Within this, there are pockets of higher pay rises, for those with the most in-demand marketing skills. Professionals working in data insight roles have seen an average salary increase of 3% during 2018.
In line with the current skills shortage, 70% of marketing employers increased salaries over the last year. The good news for marketing professionals is that the trend is set to continue in 2019, with 71% of their employers planning to increase pay.
Skills shortages are particularly prevalent around data interpretation and analysis. Marketing is increasingly focused on determining insight from data, and there is a lack of professionals who have the skills necessary to do this effectively.
Middle and senior managers are especially in demand in marketing. Professionals who understand the depth and breadth of marketing, the application of new technology and who recognise the complexities of the customer relationship will be highly sought after (and command appropriate salaries).
Technical skills continue to be in demand, as organisations introduce technologies like marketing automation, in a bid to advance customer engagement strategies. Managers who can show the latest technical knowledge on top of sound leadership, people management and project management skills should be able to achieve the best salaries.
The right salary?
Nearly two-thirds (64%) of marketers say they are happy with their salaries, and 19% successfully asked for a pay rise last year. But what if you feel your salary isn’t good enough?
For all marketing professionals, it is essential to be aware of your ‘market rate’ – how much you could be earning in line with regional and national averages for your seniority and skillsets, which you can do by using our salary checker tool.
Jane Cave, Managing Director of the Institute of Direct and Digital Marketing, said: “In a fast-changing environment, it’s important for marketers and the businesses they work for that they continue to cultivate a range of skills. Not just the skills they use today, but also those they will need in the future. This is because the complexity in marketing has not stopped increasing and the sector is catching up with new technology, which continuously requires new skills.”
These changing technologies could ultimately put jobs at risk, warns Koray Camgoz, Public Relations Manager of the Chartered Institute of Public Relations, who says that 12% of a public relations practitioner’s total skills could already be complemented or replaced by Artificial Intelligence (AI).
He said: “Public relations faces a longer-term challenge to establish new sources of value to counter the risks posed by AI. It would be a mistake for PR professionals to assume their knack for thinking creatively and nurturing relationships will bullet-proof them from the rise of AI.”
So, the message is clear. If you want stay ahead and earn the best salary in marketing in 2019 and beyond, you need to continue upskilling and anticipating the latest developments in the industry – and find a job which lets you explore them.
If you’re unsure about your current pay and think you could be earning more in your role, try our new salary checker tool, where you can quickly compare your salary to the average and top level for your region.