Senior Vice President (SVP), Marketing Salary
Median pay for Senior Vice Presidents of Marketing in the United States lies in the neighborhood of $170K annually. In the world of Senior Vice Presidents of Marketing, overall income ranges from $104K near the bottom to $303K at the top; this can include more than $76K from bonuses and more than $90K from profit sharing in exceptional cases. Residence is the biggest factor affecting pay for this group, followed by experience level. Women make up a slight majority of Senior Vice Presidents of Marketing (55 percent) survey respondents. Nearly all report receiving medical coverage from their employers and most collect dental insurance. The majority of Senior Vice Presidents of Marketing claim high levels of job satisfaction. The data for this synopsis comes from respondents who took the PayScale salary survey.
Job Description for Senior Vice President (SVP), Marketing
The senior vice president (SVP) of marketing is responsible for developing and executing a defined marketing and communications strategy that supports business growth and enhances brand awareness. This individual is also typically responsible for planning, organizing, training, staffing, and managing all marketing functions to help achieve the company’s objectives related to sales, growth, and profitability. Senior vice presidents of marketing must ensure their company projects a consistent marketing message that is in line with the company's needs. These professionals generally work in an office setting during regular business hours, and they typically report to the executive vice president and/or the chief marketing officer.Read More...
Senior vice president of marketing positions typically require a minimum of a bachelor's degree in business or a related field, with a master's of business administration (MBA) preferred. Previous experience in marketing roles at the senior management level is needed as well. Senior vice presidents of marketing must excellent communication skills, as well as the ability to articulate a vision and strategy in a way that motivates a team to achieve business goals. They must have excellent leadership skills, as well as the ability to thrive in changing, fast-paced work environment and the ability to reprioritize tasks as needed.
Senior Vice President (SVP), Marketing Tasks
- Develop pricing strategies to balance company objectives and customer satisfaction.
- Use sales forecasting and strategic planning to ensure the sale of products or services.
- Conduct market research and monitor market trends in order to remain competitive and meet overall objectives.
- Oversee staff operations, develop policies and business plans.
- As the SVP, plan, direct and set the strategic direction of marketing program for an organization.
Common Career Paths for Senior Vice President (SVP), Marketing
Senior Vice Presidents of Marketing' salary tends to stay somewhat level for those who assume higher-end positions like Chief Marketing Officer. Median pay for Chief Marketing Officers is $178K. Many Senior Vice Presidents of Marketing advance into roles as Executive VPs of Marketing or Top Marketing Officers, but the median salaries are $18K lower and $22K lower, respectively.
Senior Vice President (SVP), Marketing Job Listings
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Popular Skills for Senior Vice President (SVP), Marketing
Senior Vice Presidents of Marketing report using a deep pool of skills on the job. Most notably, facility with Business Strategy, Product Marketing, and Lead Generation are correlated to pay that is significantly above average, leading to increases of 26 percent, 23 percent, and 10 percent, respectively. Skills that pay less than market rate include Online Marketing, Marketing Communications, and Branding. Those familiar with Leadership also tend to know Branding and Marketing Communications. Most people who know Strategic Marketing also know Marketing Communications and Branding.
Pay by Experience Level for Senior Vice President (SVP), Marketing
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Workers with less than five years' experience earn around $176K on average. It may be worth noting that those who have five to 10 years under their belts see a lower median salary of $147K. On average, Senior Vice Presidents of Marketing make $191K following one to two decades on the job. Survey participants who have worked for more than two decades report bringing in $201K on average.
Pay Difference by Location
Senior Vice Presidents of Marketing will find that Dallas offers an impressive pay rate, one which exceeds the national average by 70 percent. Senior Vice Presidents of Marketing can also look forward to large paychecks in cities like Los Angeles (+31 percent), San Francisco (+29 percent), Denver (+18 percent), and Miami (+14 percent). Chicago is the lowest-paying area, 10 percent south of the national average. On the whole, employers pay 3 percent below the median salary for those in this field in Charlotte and Washington.