2023-2024

Market Trends & Salary Review

Welcome

As the market has evolved so has Perceptor

Since 1999, we have offered deep expertise in all roles within the Office of the Customer, being contemporary marketing, communications, digital, product, data, and sales leadership capability for today’s evolving businesses.

Clients typically use Perceptor for key appointments when their business is in a growth or transformation phase for roles from senior executive down to mid-level. Our highly experienced team, with each consultant having a minimum of 15 years executive recruitment experience brings a deep candidate network and can provide rigour and counsel through the hiring process.

Key stats about Perceptor:

  • 98% of executive search assignments are successfully completed
  • >50% of Perceptor placed candidates are promoted within 18 months
  • 100% of previously placed Perceptor candidates remain in the Perceptor Network over the long term.

If you are needing to hire for your team or are needing career advice, please contact us for a confidential conversation.
MARKET REVIEW

Slower Start to 2023

After a robust recruitment market in 2022, especially in the last two quarters, activity levels have slowed down so far this year. We think this was because of a combination of reasons, including a natural market pause after such a busy previous year-end, corporate fear around the impact of interest rates, the NSW state election and finally a lot of people taking exceptionally long summer holidays to make up for the Covid period. However, from the end of March onwards we have observed market activity picking up as corporates push the go button on hiring again.

Flexible Working
Digital Transformation
E-Commerce
Recruit for Growth

Funny Money Gone

With the rising interest rate environment, the world of start-ups and scale-ups have had to rapidly downscale their growth ambitions to reach profitability or at least achieve a cash flow positive scenario. The impact of this has been both the stopping of hiring and significant redundancies. The impact of this is that the era of job offers with excessively high packages and/or blue-sky equity deals is over. This will be a welcome relief to the 95% of the rest of the economy where companies just could not match these ridiculous offers. Our observation is that the candidate market has understood this very well and most people are practical and philosophical about it. There is a shift happening whereby people in candidate mode value a reliable income in a business that makes real profit over the dreams of tomorrow’s funny money.

Salaries are Stabilising

The net effect of the trend outlined above is that salaries are starting to stabilise, and most companies are looking at 3% salary increases this year. There continues to be minor exceptions on the periphery, but we do seem to be back to a more sustainable trend. Of course, with inflation continuing to be above this level, and interest rates going up, the net effect is that people are feeling worse off.
HIRING IN THE CURRENT MARKET

WFH…Hybrid…WFO...what is the answer?

Everyone wants to know what other companies are doing, and, most importantly what they plan to do next. Our observation is that most organisations will settle on a hybrid model, with 3 to 4 days per week in the office mandated for most roles. There appears to be a consensus building that collaboration, strategic discussions, networking and good old-fashioned reading the room is just not as good on video as face to face.

90% of CEO’s want their team in as much as possible, for all the reasons above. However, there is a recognition that not commuting does save a considerable chunk of time and so is highly valued (and appreciated) by employees. We think that a practical flexible approach will work well for both parties. Inevitably, economic conditions and thus the strength of the employment market will have the biggest impact over the long term.

What Candidates want?

As an aside to the WFH v. WFO dilemma, candidates are taking a more “values-driven” approach to their career choices and asking more questions about a company’s ethics, its approach to diversity and inclusion, and its environmental, social and governance policies.

A Complex Recruitment Market

Whilst the media headlines regarding employment trends are useful to understand the overall state of the economy, we should be careful not to assume they reflect the current and future market conditions for corporate Australia.

One of the trends we expect to see over the next 12 months is supply and demand becoming more balanced in the mid-market salaries of $120,000 to $175,000. This is a result of immigration, more active candidates, and the frenzied hiring of covid tailing off.

The Senior and Executive market will experience a pick-up in demand from corporates as the leadership teams and C suite undergoes a refresh. Whilst one could never say there is a candidate shortage at these top levels there will certainly be high demand for Top 10% calibre people.

SALARY TABLES

Salary Tables - Digital, Marketing & Sales Salary Guide

ASX300/Large Global Corporate
Mid-Size/High Growth
management
GM/Divisional Head
$500 - $600 + 50 - 70%
$400 - $550 + 30 - 50%
MD/Country Manager
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$450 - $600 + 40 - 50%
$350 - $500 + 25 - 35%
MARKETING AND COMMUNICATIONS
Chief Customer Officer
$450+
325+
Chief Marketing Officer
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$400+
$300+
Head of Marketing
$280 - $320
$220 - $250
Head of Customer Experience
$220 - $250
$200 - $220
Head of CRM
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$200 - $230
$175 - $200
Head of Acquisition
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$180 - $210
$160 - $180
Head of Brand
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$220 - $250
$175 - $200
Head of Category
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$180 - $210
$160 - $180
Head of Insights
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$200+
$175 - $200
Senior Marketing Manager
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$170 - $200
$150 - $175
Senior Brand Manager
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$140 - $170
$130 - $150
Project Manager
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$160 - $180
$110 - $150
Category / Insights Analyst
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$120 - $140
$110 - $130
Head of Product
$220 - $250
$180 - $220
Senior Product Manager
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$160 - $190
$150 - $170
Product / Brand Manager
$140 - $170
$120 - $150
Head of Communications/Corporate Affairs
$300+
$200+
Senior Communications Manager
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$180 - $200
$160 - $190
Communications Manager
$130 - $160
$110 - $140
Social Media Manager
$150 - $180
$130 - $160
DIGITAL, ANALYTICS & TRANSFORMATION
Chief Digital Officer
$350+
$250+
Head of Digital
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$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
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$125 - $150
$120 - $140
Digital Analyst
$110 - $130
$100 - $120
eCommerce Executive
$110 - $140
$100 - $120
Head of Data Analytics
$220+
$180+
Data Insights / Analytics Manager
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$160 - $180
$150+
Data Scientist
$110 - $140
$110 - $140
Program Manager
$200 - $250
$200 - $220
Project Manager
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$190 - $220
$170 - $190
Digital Business Analyst
$140 - $160
$120 - $140
sales
Sales Director / Head of Distribution
$300 + OTE
$250 + OTE
Sales Manager
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$220 + OTE
$180 + OTE
National Business Manager
$200 + OTE
$180 + OTE
Strategic Account Director
$200 + OTE
$180 + OTE
Business Development Director
$200 + OTE
$180 +OTE
Account Manager
$150 + OTE
$120 + OTE
The figures stated show total package including cash, superannuation, and benefits. Discretionary components such as bonus and options are excluded. Bonus components tend to range from 10-40% of total package, with senior roles at the higher level.
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MARKET TRENDS & SALARY REVIEW