As chief marketing executives are becoming more prominent at public companies, their salaries are also on the rise. According to a new study from Equilar, Chief Marketing Officers (CMOs) are increasingly among the top five paid employees at public companies.
The study looked at the proxy statements of all U.S.-based or listed public companies with more than $500 million in revenue to analyze the prevalence of top marketing executives.
In 2016, there were 190 CMOs or other top marketing executives in the top five highest-paid positions at U.S. based public companies—a 157% increase from 2012. The study also revealed that median pay for the individuals who were included as “named executive officers” (NEOs) increased significantly from 2012 to 2016. Overall, median total compensation grew 24.0% over the five-year period, skyrocketing to nearly $1.3 million in 2016.
On the down side, the study found that women are underrepresented in top marketing executive roles. However, the study did show that these numbers are mounting. From 2012 to 2016, representation of women in top marketing roles grew from 10.8 to 18.4%.
To see the full study, click here.