The CMO Salary Slope
Score one for the newbies when it comes to CMO salaries. Chief marketers starting in a new position within the last twelve to twenty-four months landed larger total compensation packages than their counterparts who started in their role five-plus years ago, according to a recent report released by Eastward Partners, an executive search and human capital research consultancy.
But a closer look at the ledger reveals that things are not that bad for longtime CMOs compensation-wise, as they tend to make up for any difference in salary during bonus season. Whether they have been on the job for five months or five years, CMOs face growing pressure from the tippy top to bolster their digital capabilities and have a bigger impact on both the top and bottom lines.
Nicole Balsam, associate partner and head of brand and digital at executive search and human capital research consultancy Eastward Partners, and author of the CMO report, joins host Matthew Schwartz to talk about the current trends in CMO compensation, how CMOs transform into the "Chief Connecting Officer" in their company, and why the current business climate is an opportune time for CMOs to make what Balsam calls a "second-first impression" with the rest of the C-suite.
Source
"The CMO Salary Slope." Champions of Growth Podcast, 3/7/23.