Marketers In The West Tend To Earn The Most
Credit union marketing professionals in the Western U.S. continue to average higher salaries than their counterparts around the country, according to the results of a study from the Marketing Association of Credit Unions (MAC).
Marketers with the "vice president of marketing" title averaged an annual salary of $91,230 in the West, compared to $84,167 in the Southwest, $75,938 in the Midwest, $73,290 in the Southeast, $69,583 in the Northwest and $67,750 in the Northeast, MAC said. "Director of marketing" positions averaged $63,929 in the West, $58,214 in the Northeast, $50,625 in the Northwest, $46,388 in the Southwest, $43,864 in the Southeast and $40,417 in the Midwest.
The association said its study found experience does not always equal higher pay. Vice presidents of marketing with only one to three years experience averaged $86,111 per year, while the average for individuals with four to six years and seven to 10 years was lower at $78,461 and $73,043, respectively. MAC said these figures suggest many VP positions are being filled by candidates from outside the credit union, but who may have previous financial services industry experience.
MAC said it also collected data on the structure and composition of credit union marketing departments and how they relate to asset size. The study found CUs with less than $75 million in assets averaged 1.2 people in their marketing departments, compared to 2.1 in the $75 million to $200 million asset range, 3.5 in the $201 million to $500 million range and 6.2 in CUs who listed assets greater than $500 million.
For info: www.macnetwork.org