Both salaries and job satisfaction have increased significantly in the advertising industry says a new survey on the state of employment in the advertising/marketing sector.
In a sign that the advertising industry is recovering from the recession, phase one of a new study of over 3,000 respondents by creative talent recruiting firm 24 Seven, reveals that salaries overall increased 31% across the industry, according to a press release.
The results compare 2011 levels with 2009, revealing the average industry salary for 2011 at $107,356, up from $81,989 in 2009.
The rise in industry pay was also supported by increases is bonuses and commissions. The good news is expected to continue, as 60% of those polled say they anticipate salary increases in 2011.
“While pay is up, all is not equal in the marketing sector," noted Celeste Gudas, president of 24 Seven. "As corporate clients press agencies on fees and compensation, salaries for corporate marketers are outpacing their agency counterparts by 7%."
The study found that corporate marketers saw increases from 2009 to 2011 of 29%, with the average marketer's pay rising to $104,304 from $80,826. On the agency side, salary increases of 24% were seen going from $78,123 in 2009 to $97,175 in 2011, while those in digital/interactive had gains of 14% increasing to an average of $93,147 from $81,930. The smallest increases were in creative with increases of 8%, yielding an average salary of $85,960 from $79,660.
Explaining the results, Gudas said, "There is a talent shortage at the senior most levels on the agency side and these jobs are realizing significant salary and bonus increases. To manage the new economic reality of project-driven client assignments, agencies are paying more for proven leaders in management, creative, and strategy while turning to freelance talent for execution."With higher salaries, job satisfaction appears to be on the rebound as well, with 68% of respondents indicating they were satisfied in their current positions, versus 56% in 2009.
Despite the increased satisfaction level, more than half those surveyed said they were considering a career move in the next 12 to 24 months, a fact that Gudas attributes to greater opportunities in the job market.
In May, 24 Seven will release a detailed report on the issues behind the findings, including a breakdown by differences across demographics and job categories. For more information on the survey or how to obtain a copy, go to the 24 Seven website.