Chief Marketing Officer (CMO) Salary
Job Description for Chief Marketing Officer (CMO)
The chief marketing officer is responsible for creating and ensuring the execution of a company's marketing and sales groups' vision. Being able to think ahead and innovate in terms of direction for marketing and sales is a must. Of equal importance is the ability to communicate what the direction is and how it will be achieved. While the CMO must inspire their sales and marketing employees in this way, they must also be able to communicate the excitement and vision of the company to the media and clients through the use of myriad marketing channels. In all of these duties, the chief marketing officer must demonstrate exceptional leadership skills. A CMO will also develop and review quantitative analysis measures for corporate marketing and sales. In addition, a CMO will concretely lay out goals and provide direction for members of the sales and marketing teams on ways to measure progress towards the goals. The CMO must also be able to assess new hires and other employees in the sales and marketing teams as necessary while handling the other varied responsibilities of the position.Read More...
A strong background in sales and marketing is an absolute must for CMO positions, and it is not unusual for an employer to require a minimum of eight years of related work experience. Proven management, communication and leadership skills are also required for these kinds of positions. Extensive travel can also be required. Lastly, most employers require their CMO candidates to hold an advanced degree in marketing or a related field.
Chief Marketing Officer (CMO) Tasks
- Lead branding efforts for all organization products, across all forms of media.
- Manage and build contacts and relationship base, including handing problems.
- Analyze and interpret data on customers, buying practices and competitors.
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Popular Skills for Chief Marketing Officer (CMO)
Survey respondents exploit a significant toolbox of skills in their work. Most notably, skills in Product Marketing, Strategy, Branding, and Strategic Marketing are correlated to pay that is above average, with boosts between 4 percent and 12 percent. Skills that seem to negatively impact pay include Market Research, Business Development, and Lead Generation. Most people experienced in Branding also know Marketing Management.
Pay by Experience Level for Chief Marketing Officer (CMO)
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For many Chief Marketing Officers, experience and pay levels seem to be correlated; more years in the business generally lead to more money. The relatively untested earn a median of $94K per year, but survey respondents who have racked up five to 10 years of experience report a six-figure median of $118K. Chief Marketing Officers claiming one to two decades of experience make an estimated median of $196K. Individuals who have achieved more than 20 years of experience don't seem to earn much more than people who have 10 to 20 years under their belts; the more senior group reports an average income of $217K.
Pay Difference by Location
For Chief Marketing Officers, New York provides a pay rate that is 33 percent greater than the national average. Chief Marketing Officers will also find cushy salaries in Boston (+28 percent), Denver (+21 percent), Atlanta (+20 percent), and San Francisco (+20 percent). The lowest-paying market is Orlando, which sits 41 percent below the national average, proving that location is a significant contributor to overall pay. Employers in Austin and Miami also lean toward paying below-median salaries (24 percent lower and 20 percent lower, respectively).
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