Advertising professionals set for disappointment at pay rise time
Advertising and marketing professionals may be setting themselves up for disappointment this year as more than half expect to receive a pay rise or a bonus, but only a third of managers intend to provide it, new research shows.
In a survey of 480 marketing, media, advertising and PR professionals, by Mumbrella’s sister title The Source, per half (62%) of respondents said they were expecting a pay rise, bonus, or both, in 2013.
But they also said they do not believe they have entirely moved on from the Global Financial Crisis as just over half (52%) said they were still feeling the impact of the GFC, and just under a third (29%) said they were not sure it was over.
Only a third of managers said they were planning to increase staff remuneration in 2013 (32.3%).
However, many professionals indicated they were enjoying their work when the questions were posed earlier this year. Just under half said their work life was fun (44%) and creative (42%), and less than a third (29%) said their workplace was stressful, with most of them (39%) working in the media industry.
Camille Alarcon, publisher of The Source, said the Australian media, marketing and advertising professionals collectively control $13bn worth of spending power — the total advertising spend according to the Commercial Economic Advisory Service of Australia — and their sentiment is a bellwether for the health of the broader economy.
“Our research reveals that many professionals considered the last year ‘business as usual’, yet the reality is marketing spend has been conservative for several years now with efforts being shifted toward retaining existing client relationships rather than innovation for expansion,” she said.
“This year appears to be no different, with competition for advertising dollars intensifying as media audiences continue to fragment. Business development tools such as comprehensive industry insights, information on advertising spend and brand movements are vital for any Australian company pursuing growth in the next 12 months.”
Megan Reynolds
Unless half of the marketing people work for one third of the managers…
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