When people are overtitled, they believe they have more power than they do or should and they will try to command a higher wage than they deserve for the problems they are solving. This is especially important for smaller businesses.
At the bottom is the Marketing Technician. They have the opportunity to grow into a bigger role but at this point, they need to be a jack of all trades that can do all of the work you ask them to do. The typical hourly rate is between $15-$30.
The next level up is where you get into specialized names for marketers in specialized roles, such as CRM Specialist or Conversion Rate Optimization Specialist. If you put “lead” in their title, they will be looking for a competitive salary.
Moving up the hierarchy, Marketing Manager and Marketing Coordinator, with the Manager being slightly ahead of the Coordinator. Above those is the Marketing Director and then the VP of Marketing or the CMO
Marketing Directors usually make $60,000-$150,000 per year, but they don’t bring much to the marketing strategy. They need the strategy from the CMO, who should be making a minimum of $150,000 with great CMOs bringing in $250,000-$500,000.
It can take about 10-20 years to work your way up to becoming a traditional CMO but many people get stuck at the manager level.
Great Fractional CMOs can expect to make $500,000 per year and they don’t need to rely entirely on one client to provide them with their livelihood. Working for multiple companies significantly lowers the impact of being laid off or fired by a client.
”If you have one company that pays you and that’s all your livelihood, you run a significant risk”
We are excited to announce the Fractional CMO Community Facebook Group. This aims to be a place where Fractional CMOs or marketers considering becoming a Fractional CMO can connect and share ideas.
Claim your copy of my book “The Fractional CMO Method” to learn step-by-step how I grew my Fractional CMO practice to $46,500 a month! It’s a #1 Wall Street Journal Best-Seller and if you don’t love it, I’ll refund every penny.
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