Senior Vice President (SVP), Marketing Salary
Median pay for Senior Vice Presidents of Marketing in the United States lies in the neighborhood of $172K annually. Total incomes of Senior Vice Presidents of Marketing incorporate potential for, in a few cases, more than $78K from bonuses and close to $89K from profit sharing; these performance components cause packages to range between $109K and $303K. Geographic location is the biggest factor affecting pay for this group, followed by career length. Nearly all report receiving medical coverage from their employers and most collect dental insurance. Women Senior Vice Presidents of Marketing who took the survey just slightly outnumber men. Work is enjoyable for Senior Vice Presidents of Marketing, who typically claim high levels of job satisfaction. This snapshot results from replies to PayScale's salary survey.
|Salary||$102,136 - $243,148|
|Bonus||$5,896 - $78,261|
|Profit Sharing||$0.00 - $88,769|
|Total Pay (||$109,226 - $302,791|
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
- Oversee staff operations, develop policies and business plans.
- As the SVP, plan, direct and set the strategic direction of marketing program for an organization.
- Conduct market research and monitor market trends in order to remain competitive and meet overall objectives.
- Develop pricing strategies to balance company objectives and customer satisfaction.
- Use sales forecasting and strategic planning to ensure the sale of products or services.
Common Career Paths for Senior Vice President (SVP), Marketing
Many Senior Vice Presidents of Marketing move into a Chief Marketing Officer role, which does not lead to a big boost in pay. Chief Marketing Officers on average bring in a similar salary to Senior Vice Presidents of Marketing. Senior Vice Presidents of Marketing most frequently become Executive VPs of Marketing and Presidents even though median compensation is $19K lower and $40K lower, respectively.
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Popular Skills for Senior Vice President (SVP), Marketing
Survey results imply that Senior Vice Presidents of Marketing deploy a substantial tool kit of skills at work. Lucky workers who know Market Research can expect a significant pay bump, scoring salaries 23 percent above average. Business Strategy and Product Marketing are also correlated to pay that is above average, looking at an increase of 23 percent. Skills that seem to negatively impact pay include Online Marketing and Marketing Communications. Most people experienced in Leadership also know Branding and Marketing Communications. It is often found that people who know Strategic Marketing are also skilled in 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.
Substantial, six-figure paychecks show up early in this area; folks who have worked for fewer than five years report earning a median of $176K. On average, Senior Vice Presidents of Marketing make $193K following one to two decades on the job. Senior Vice Presidents of Marketing who have acquired more than 20 years of relevant experience earn significantly more than folks with fewer years on their resumes; the average income in this veteran group is $200K.
Pay Difference by Location
For Senior Vice Presidents of Marketing, Dallas provides a pay rate that is 68 percent greater than the national average. Senior Vice Presidents of Marketing can also look forward to large paychecks in cities like San Francisco (+28 percent), Denver (+17 percent), Miami (+13 percent), and Los Angeles (+12 percent). In Chicago, salaries are 12 percent below the national average and represent the lowest-paying market. On the whole, employers pay 4 percent below the median salary for those in this field in Charlotte and Washington.
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