Wages are on the rise at media owners

Wages are on the rise at media owners

In the first part of Media Week's salary survey snapshot in association with recruiter Sylex, managing director Simon Shroot finds reason for optimism for those working at media owners.

The macro picture in the UK is that unemployment has dropped below two million for the first time in six years, and inflation falling to a five-year low of 1.2 per cent.

There are more jobs in the industry and average wages are on the rise, so one could say the media industry is in a far better shape than it has been for a while.

It offers confidence across the industry to both employers and employees. Employers are willing to wait for the right candidate and likewise the candidate will hold out for the "right job and the right salary".

At the UK's media owners there have been more commercial jobs for graduates and a slight increase on basic pay to £18,500.

Notably, those with one to three years experience have a new high of £35,000 and account managers with three to six years experience are commanding a high of £60,000.

This has been driven by a lack of strong candidates at this level, a continued focus on business development and of course digital.

You don't have to be running a team to earn a better salary as seen with those with four to six years experience.

More strategic sales roles have come about and are becoming more key than ever. Media owners see the importance of having early conversations with marketing directors and planners.

This emphasis has been clearly demonstrated with the number of jobs created and the basic salaries on the increase too.

Senior director average salaries are up year on year (in some instances in double digits). The surge is mainly due to the technology companies willing to pay for great leaders who can motivate the teams to grow profit margins quickly through new ideas and approaches in a highly competitive market.

Bonuses and commissions are similar to last year in terms of what has been earned, however more companies are introducing uncapped bonuses as an extra incentive.

Digital tend to offer 100% OTE at Account Manager level, whereas traditional remains around 30% to 60% OTE mark.

Some employers offer extra incentives for employees from healthcare to iPads to discounted hotel breaks.

Managing director bonus incentives remain strong with short term and long incentives, including equity and share options more readily available.

Looking forward to 2015, it is estimated that "51% of the £15.7 billion ad spend" is expected to be directed to digital and online media.

This is a figure not to be ignored and will have a huge affect on industry salaries and no doubt on where people will be employed.

In order to keep hold of or entice talent it is worth making a mental note of where you stand against the industry.

Job title Average Low High
Graduate (No experience) £18,062 £18,000 £18,500
Account Executive (6-12 months) £19,750 £18,500 £21,000
Sales Executive (1- 3 years) £26,231 £22,000 £35,000
Account Manager (3-6 Years) £37,780 £26,500 £60,000
Group Head (4-6 Years) £53,450 £33,000 £70,000
Account Director/Controller(6+ Years) £74,000 £45,000 £90,000
Sales Director (10+ Years) £112,500 £90,000 £140,000
Managing Director £162,667 £103,000 £220,000

Salaries are calculated on Sylex data records of 2014 of nearly 200 candidates

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