According to a recent article published on Marketing Week, quoting research from Carter Murray, some marketing bosses employed at the top 20 largest law firms in the UK can earn up to £500,000 annually.
This figure is in keeping with the Annual Salary Survey conducted by Marketing Week earlier this year, with marketers from such law firms able to expect a base salary of £170,000 to £345,000. Bonuses for such individuals can also reach around £132,000.
From the top ten law firms, people specialising in communications and business development earned between £80,000 and £163,000 and could expect bonuses of around £80,000. Marketing Week noted that this is higher than the average salary recorded in the Annual Salary Survey.
The Annual Salary Survey, published in January, found that the average marketing salary for 2012-2013 was £45,021, with marketing directors earning 14.4% more than the previous year’s results. Marketers in the automotive, TV and alcohol sectors were the highest paid, with an average salary of £86,165.
In order to gather results from the law firms, the survey was distributed among the top 60 in the UK. Nearly 50% of the respondents noted that they received no pay rise last year, however almost three-quarters are confident that they will this year. Of these individuals, over 95% of them are involved in the overall marketing strategy of the firm.
As marketing professionals for law firms, 67% started at the company with a background of legal experience. Those with accountancy and banking experience each accounted for 12% of the marketing chiefs questioned, while 3% were made up of those with a history in the FMCG, agency and research sectors.