2024-2025
A MESSAGE FROM OUR DIRECTORS
Founded in early 1999 during the height of the “Dot Com” boom, Perceptor emerged when most companies had not changed their operations in decades.
Today, the fields of marketing, digital, data, product, and CX have evolved significantly, arguably more than any other business function, with every company profoundly impacted by technological advancements.
However, from an executive search perspective, we believe that despite the changing landscape, some core principles remain constant. Our success is attributed to a few key themes:
2024-2025
The 23/24 financial year has been challenging for the overall recruitment market, marked by a significant decrease in hiring appetite across various sectors.
Last year marked the end of a five year cycle that began in 2018 and was disrupted by the COVID-19 pandemic, resulting in 2023/24 seeing a reduction in activity.
Most companies either already have or will be offering base salary increases in the 3-3.5% range for most of their corporate staff with many exceptions seeing increases in the 4% range.
The majority of companies we surveyed require employees to be in the office three days per week, with varying degrees of enforcement. A small minority promote ‘work from work’ policies.
THE 23/24 FINANCIAL YEAR HAS BEEN CHALLENGING FOR THE OVERALL RECRUITMENT MARKET.
Marked by a significant decrease in hiring appetite across various sectors. This hesitancy to hire stems from two primary factors: corporate caution amidst the rising interest rate environment and the natural conclusion of a five-year hiring cycle from 2018 to 2023.
Starting from mid-2023, the recruitment market in Australia (and globally) regressed as most companies adopted defensive strategies, focusing on cost-cutting or aggressive cost control
In sectors such as financial and professional services, as well as technology, this resulted in significant redundancies.
Consumer goods, FMCG, and retail experienced minimal new hiring with the most resilient sectors being travel and tourism, along with health.
The encouraging news is that as we approach the end of the Australian financial year, signs of market improvement are emerging.
Companies are beginning to greenlight new roles or at least proceed with replacement hiring as needed.
IT’S IMPORTANT TO REMEMBER THAT ALL MARKETS OPERATE IN CYCLES, AND RECRUITMENT IS NO EXCEPTION. LAST YEAR MARKED THE END OF A FIVE-YEAR CYCLE THAT BEGAN IN 2018 AND WAS DISRUPTED BY THE COVID-19 PANDEMIC.
Although the COVID era was incredibly volatile for recruitment — a three-year roller coaster ride — the overall outcome was a robust market for most sectors, albeit with a shortage of candidates. In 2022, the first post-COVID year, the recruitment market enjoyed a healthy resurgence as companies and sectors rebounded.
Therefore, it’s not surprising that 2023/24 has seen a reduction in activity. This, coupled with a rising interest rate environment, are the fundamental reasons behind the challenging market conditions being experienced.
BROADLY, OUR RESEARCH INDICATES THAT MOST COMPANIES EITHER ALREADY HAVE OR WILL BE OFFERING BASE SALARY INCREASES IN THE 3-3.5% RANGE FOR MOST OF THEIR CORPORATE STAFF.
However, many exceptions see increases in the 4% range as companies address below-market rewards for reasons such as gender equality, skills shortages, or long-term fairness.
Compared to the pre-COVID era, where salary increases were typically uniform and mandated from the top, there now seems to be a more tailored and careful approach. This trend emerged during COVID and has persisted.
We were pleasantly surprised to find that almost all companies surveyed across all sectors have paid either full or near-full bonuses to team members who have met their objectives. This confirms the sentiment that, despite challenges, companies are achieving their results.
This remains a topical dinner party conversation, so, what really is happening out there?
Based on the feedback, there seems to be increasing pressure to mandate specific days and less tolerance for employees who constantly bend the rules.
These companies are not necessarily inflexible about family duties but maintain a core ethos of working from the office.
Being at the top of the pyramid, the senior market often serves as a lead indicator of broader recruitment trends. Unfortunately, this market has been the most affected by the slowdown in corporate hiring, with most companies opting to retain their current executive leadership teams rather than make drastic changes. Our research indicates this state of flux will soon end as boards and CEOs seek high-performing teams to lead growth. Shareholders, whether public, private, or private equity, are demanding results, creating a clear appetite for change. Multiple CEO interviews conducted by Perceptor have confirmed a desire to refresh executive teams and make key appointments to drive transformation.
This level of the market has been more active than the senior executive levels but has still experienced a relatively subdued year. In marketing and digital, the focus has been on maximising the efficiency of martech investments and driving optimal use of data and insights. In most sectors, sales recruitment has focused on leaders who can instil commercial accountability in their teams and guide customers toward more profitable products or services. Achieving more with less seems to be the order of the day.
For the first time in many years, there seems to be a cooling off in the mid-level digital performance market. We suspect this is due to a deeper candidate pool and a greater focus by marketing/digital teams on Customer Data Platforms and investing in data/CRM. Additionally, the demand for high-calibre content and social media experts remains high and shows no signs of slowing down. Strong, high-achieving salespeople are still in demand, whether they are National Account Managers/National Business Managers in FMCG/Consumer, Strategic Account Managers in Tech, or BDMs in Financial Services. The ongoing challenge is convincing these top performers to make a move.
As the COVID super-bubble has deflated and consumers are mostly returning to normal buying behaviours, the FMCG recruitment market has finally slowed to pre-covid levels Most companies are focusing on replacing departing employees rather than adding new headcount. However, sectors like alcoholic beverages and beauty have experienced either higher growth (beauty) or more volatility (liquor). Combined with large mergers and acquisitions, this has driven changes in personnel and hiring requirements.… ‘Highly commercial’ is the phrase we hear most often from hiring managers when describing the desired skillset.
In Retail, although the hiring market has been slower than before, there is a greater emphasis on data, loyalty, and CRM skillsets, as well as on executive leaders who can build capability in these areas and drive efficiency. Many pure e-commerce players have completely frozen hiring (and made redundancies) as they struggle with bloated headcount and inventory overload.
2023/2024 has been a lacklustre year for recruitment at all levels across most categories in financial services. The one exception has been insurance, which has continued to thrive, a trend that has persisted since COVID. Recruitment in insurance has mainly focused on mid-to-senior roles in customer experience and personalisation, driven by better digital practices, newer technologies, and more robust customer data and insights. To some, this may not be surprising as the category had lagged its more glamorous… peers in the financial services industry.
Superannuation and the broader wealth management sector have been steady but subdued, with many organisations experiencing leadership changes due to mergers, consolidation, and acquisitions. These member funds are still focused on improving retention levels and digital transformation, driving demand for marketers with expertise in digital marketing, data analytics, and emerging technologies such as AI and machine learning. Wealth management firms continue to focus on the regulatory landscape, and smaller practices being acquired has stifled growth and recruitment. Funds management recruitment has been stable, with hires mostly limited to replacing staff who have left.
The larger banks, both in their consumer and business divisions, have been quiet from a recruitment perspective and have reduced headcount across marketing, product, and digital through numerous restructurings. This is likely a cyclical strategy to enable efficiency for the next fiscal year.
Recruitment in the fintech market has been minimal as smaller players and disruptors have been squeezed by limited capital and competition from larger players.
Despite these challenges, we are optimistic that 2024/2025 will be busier. Big organisations are leaner and fitter and will likely accelerate their efforts to grow market share. Second and third-tier businesses will also step up their hiring as consumer and business confidence improves.
Salaries have been in line with or better than inflation, with around 4% increases on base salaries and bonuses on target. This trend is expected to continue over the next year. Continued patience will be required for candidates at the $300k+ salary level who are actively looking for their next role.
In-demand skill sets will include those related to digital transformation, driving demand for marketers with expertise in digital marketing, data analytics, and emerging technologies such as AI. Organisations with refocused customer-centric strategies will continue prioritising customer experience initiatives, requiring marketers to leverage data-driven insights to deliver personalised and seamless customer journeys. Content will remain invaluable.
The tech sector continues to operate at the bottom of the hiring market. Start-ups, scale-ups, and unprofitable players have yet to resume hiring in significant numbers. This will only change when these businesses can sustain themselves from profit or when the private equity/venture capital sector resumes investing.
While this overview may sound negative, we remain optimistic that in FY 24/25, this market will begin hiring again, albeit more… conservatively than during the previous boom.
Major telcos, and software and hardware vendors are hiring and making redundancies simultaneously. This is typical in these sectors, where the pace of change is rapid, and organisations must remain highly flexible in their approach.
In-demand skills include sales leaders and executives who can deliver results, as well as commercial marketers with strong CRM and/or content capabilities. Demand for Product Managers remains low as organisations focus on driving commercial returns from existing product sets before investing in new product development.
The world of Professional Services and, to a lesser extent, B2B Services, currently represents one of the weakest recruitment markets. This is unsurprising, as the partnership-led Professional Services market typically reacts aggressively to market downturns. Unfortunately, with an abundance of candidates in this market, finding a new job can be challenging.
Retail, FMCG & Consumer Durables
| Executive Leadership | ASX300 / Large Global Corporate | Mid-size / High Growth |
|---|---|---|
| Executive GM/Divisional MD | 500 – 600 + STI + LTI | |
| MD/Country Manager/GM | 400 – 550 + STI + LTI | |
| Chief Customer Officer | 450 + STI + LTI | 325 + STI + LTI |
| Chief Marketing Officer | 400 + STI + LTI | 300 + STI + LTI |
| Chief Digital Officer | 350 + STI + LTI | 250 + STI + LTI |
| Chief Sales/Sales Director | 400 + STI + LTI | 300 + STI + LTI |
For executive or C level roles, we have detailed guaranteed package (base salary, superannuation, car allowance). Short Term Incentives and Long Term Incentives will vary depending on company size, ownership and global vs local) and so are in addition.
| Marketing and Communications | ASX300 / Large Global Corporate | Mid-size / High Growth |
|---|---|---|
| Chief Customer Officer | 450 + STI + LTI | 325 + STI + LTI |
| Chief Marketing Officer | 400 + STI + LTI | 300 + STI + LTI |
| Head of Marketing | 280 – 320 + STI | 220 – 250 + STI |
| Head of Customer Experience | 220 – 250 + STI | 200 – 220 + STI |
| Head of CRM | 200 – 230 | 175 – 200 |
| Head of Acquisition | 180 – 210 | 160 – 180 |
| Head of Brand | 220 – 250 | 175 – 200 |
| Head of Category | 180 – 210 | 160 – 180 |
| Head of Insights | 200+ | 175 – 200 |
| Senior Marketing Manager | 170 – 200 | 150 – 175 |
| Senior Brand Manager | 140 – 170 | 130 – 150 |
| Head of Product | $220 – $250 | $180 – $220 |
| Senior Product Manager | $160 – $190 | $150 – $170 |
| Product / Brand Manager | $140 – $170 | $120 – $150 |
| Head of Communications/Corporate Affairs | $300+ | $200+ |
| Senior Communications Manager | $180 – $200 | $160 – $190 |
| Communications Manager | $130 – $160 | $110 – $140 |
| Social Media Manager | $150 – $180 | $130 – $160 |
For senior management or mid-level roles, we have detailed guaranteed package (base salary, superannuation, car allowance). Short Term Incentives will vary but are typically in the 10-40% range)
| Digital, Analytics & Transformation | ASX300 / Large Global Corporate | Mid-size / High Growth |
|---|---|---|
| Head of Digital | 250+ | 225+ |
| Head of E Commerce | 250+ | 220+ |
| Head of SEO/SEM | 180 – 210 | 180+ |
| Head of UX | 175 – 200 | 160 – 180 |
| Head of Digital Product / Platform | 220 – 250+ | 200+ |
| Head of Content | 175+ | 150+ |
| Digital Marketing Manager | 150 – 200 | 130 – 160 |
| UX / UI Designers | 130 – 160 | 130 – 150 |
| Head of Data Analytics | 220+ | 180+ |
| Data Insights / Analytics Manager | 160 – 180 | 150+ |
| Program Manager | 200 – 250 | 200 – 220 |
| Project Manager | 190 – 220 | 170 – 190 |
| Sales | ASX300 / Large Global Corporate | Mid-size / High Growth |
|---|---|---|
| Sales Director | 350 + OTE | 300 + OTE |
| Sales Manager/Field Sales Manager | 220 + OTE | 200 + OTE |
| National Business Manager | 220 + OTE | 200 + OTE |
| Business Development Director | 225 + OTE | 200 + OTE |
| National Account Manager | 150 + OTE | 130 + OTE |
Financial Services
| Executive Leadership | ASX300 / Large Global Corporate | Mid-size / High Growth |
|---|---|---|
| EGM/C-Level | $750+ | $500+ |
| Country Manager/MD/GM | $550+ | $400+ |
| Chief Customer Officer | $500+ | $350+ |
| Chief Revenue Officer | $500+ | $400+ |
| Chief Marketing Officer | $400+ | $350+ |
| Chief Communications Officer | $400+ | $300+ |
| Chief Product Officer | $400+ | $300+ |
| Chief Digital Officer | $400+ | $300+ |
| Chief Data & Analytics Officer | $400+ | $300+ |
| Chief Client Officer / Distribution | $500+ | $300+ |
For Executive or C level roles, we have only detailed the guaranteed package (base salary & superannuation). Short-Term Incentives and Long-Term Incentives will vary depending on company size, ownership, and global vs local), and so, are in addition, but not included.
| Marketing and Communications | ASX300 / Large Global Corporate | Mid-size / High Growth |
|---|---|---|
| Head of Marketing (& Communications) | $300+ | $250+ |
| Head of Customer Experience | $220 – $250 | $200 – $220 |
| Head of CRM | $200 – $230 | $180 – $200 |
| Head of Acquisition | $180 – $210 | $160 – $180 |
| Head of Retention/Loyalty | $180 – $210 | $160 – $180 |
| Head of Brand | $220 – $250 | $180 – $200 |
| Senior Marketing Manager | $180 – $200 | $160 – $180 |
| Senior Brand Manager | $170 – $190 | $150 – $170 |
| Head of Product | $220 – $250 | $180 – $220 |
| Senior Product Manager | $170 – $190 | $150 – $170 |
| Product Manager | $150 – $170 | $130 – $150 |
| Head of Communications/Corporate Affairs | $300+ | $220+ |
| Senior Communications Manager (Internal and/or External) | $180 – $200 | $170 – $190 |
| Communications Manager (Internal and/or External) | $140 – $160 | $130 – $150 |
| Social Media Manager | $150 – $180 | $130 – $160 |
For senior management and mid-level roles, we have only detailed guaranteed package (base salary & superannuation. Short Term Incentives will vary but are typically in the 10-40% range dependent on company and personal performance, and so, are in addition, but not included.
| Digital, Analytics & Transformation | ASX300 / Large Global Corporate | Mid-size / High Growth |
|---|---|---|
| Head of Digital | $250+ | $225+ |
| Head of SEO/SEM | $180 – $210 | $180+ |
| Head of UX | $175 – $200 | $160 – $180 |
| Head of Digital Product / Platform | $220 – $250+ | $200+ |
| Head of Content | $180+ | $160+ |
| Digital Marketing Manager | $160 – $180 | $140 – $160 |
| UX / UI Designers | $140 – $160 | $130 – $150 |
| Head of Data Analytics | $275+ | $300+ |
| Data Insights / Analytics Manager | $150 – $170 | $140 – $160 |
| Research Manager | $140 – $160 | $130 – $150 |
| Digital Business Analyst | $140 – $160 | $120 – $140 |
| Sales | ASX300 / Large Global Corporate | Mid-size / High Growth |
|---|---|---|
| Sales Manager | $250 + OTE | $200 + OTE |
| Strategic Account Director | $200 + OTE | $180 + OTE |
| Business Development Director | $200 + OTE | $180 + OTE |
| Account Manager | $150 + OTE | $130 + OTE |
TECHNOLOGY, TELCO, B2B & PROFESSIONAL SERVICES
| Executive Leadership | ASX300 / Large Global Corporate | Mid-size / High Growth |
|---|---|---|
| Executive GM/Divisional Head | $500 – $600 + 50-70% | $400-$550 + 30-50% |
| MD/Country Manager | $450 – $600 + 40-50% | $350-$500 + 25-35% |
| Chief Customer Officer | $450+ | $325+ |
| Chief Marketing Officer | $400+ | $300+ |
| Chief Digital Officer | $350+ | $250+ |
| Chief Data Officer | $400+ STI+ LTI | $300+ LTI+ STI |
| Chief Product Officer | $350+ STI+ LTI | $300+ LTI+ STI |
| Chief Sales/Sales Director | $500+ STI+ LTI | $350+ LTI+ STI |
| Marketing and Communications | ASX300 / Large Global Corporate | Mid-size / High Growth |
|---|---|---|
| Head of Marketing | $280 – $320 | $220 – $250 |
| Head of Customer Experience | $220 – $250 | $200 – $220 |
| Head of CRM | $200 – $230 | $175 – $200 |
| Head of Acquisition | $180 – $210 | $160 – $180 |
| Head of Brand | $220 – $250 | $175 – $200 |
| Head of Insights | $200+ | $175 – $200 |
| Senior Marketing Manager | $170 – $200 | $150 – $175 |
| Senior Brand Manager | $140 – $170 | $130 – $150 |
| Project Manager | $160 – $180 | $110 – $150 |
| Head of Product | $220 – $250 | $180 – $220 |
| Senior Product Manager | $160 – $190 | $150 – $170 |
| Product / Brand Manager | $140 – $170 | $120 – $150 |
| Head of Communications/Corporate Affairs | $300+ | $200+ |
| Senior Communications Manager | $180 – $200 | $160 – $190 |
| Communications Manager | $130 – $160 | $110 – $140 |
| Social Media Manager | $150 – $180 | $130 – $160 |
Short Term Incentives will vary but are typically in the 10-40% range dependent on company and personal performance, and so, are in addition, but not included.
| Digital, Analytics & Transformation | ASX300 / Large Global Corporate | Mid-size / High Growth |
|---|---|---|
| Head of Digital | $250+ | $225+ |
| Head of E Commerce | $250+ | $220+ |
| Head of SEO/SEM | $180 – $210 | $180+ |
| Head of UX | $175 – $200 | $160 – $180 |
| Head of Digital Product / Platform | $220-$250+ | $200+ |
| Head of Content | $175+ | $150+ |
| Digital Marketing Manager | $150 – $200 | $130 – $160 |
| UX / UI Designers | $125-$150 | $120 – $140 |
| Head of Data Analytics | $220+ | $180+ |
| Data Insights / Analytics Manager | $160-$180 | $150+ |
| Data Scientist | $110 – $140 | $110 – $140 |
| Program Manager | $200 – $250 | $200 – $220 |
| Project Manager | $190 – $220 | $170 – $190 |
| Digital Business Analyst | $140 – $160 | $120 – $140 |
| Sales | ASX300 / Large Global Corporate | Mid-size / High Growth |
|---|---|---|
| Sales Manager | $300 + OTE | $250 + OTE |
| Strategic Account Director | $250 + OTE | $225+ OTE |
| Business Development Director | $250 + OTE | $225 + OTE |
| Account Manager | $160 + OTE | $140 + OTE |
CONTACT
MARKET TRENDS & SALARY REVIEW
