2024 UK Salary Trends: Insights for Sales, Marketing, and IT Professionals

Our2024 Salary Survey Report provides an in-depth analysis of salary trends within the UK technology sector, focusing on sales, marketing, and IT roles. This report is an essential resource for HR leaders, finance managers, and anyone involved in talent acquisition or compensation planning. It highlights not just the current salary benchmarks, but also the evolving dynamics of the UK job market and offers actionable recommendations for businesses aiming to attract and retain top talent.

Key Salary Insights

Sales Roles

Sales positions within the UK technology sector show significant variation depending on location and experience. For instance:

• Sales Directors in Greater London command salaries ranging from £100,000 to £160,000, while the UK average is slightly lower, between £90,000 and £150,000.
• Business Development Managers can expect salaries from £40,000 to £55,000 in Greater London, compared to £35,000 to £50,000 across the UK.

Marketing Roles

Marketing roles also reflect a considerable disparity between London-based roles and those across the UK:

• Chief Marketing Officers in Greater London earn between £120,000 and £200,000, whereas the UK average ranges from £100,000 to £180,000.
• Digital Marketing Managers can expect to earn £45,000 to £65,000 in Greater London, compared to £30,000 to £50,000 elsewhere in the UK.

IT Roles

The IT sector continues to see robust demand, especially for specialist roles:

• Software Developers in London earn between £55,000 and £80,000, while the UK average for experienced professionals is £45,000 to £70,000.
• AI Consultants have a salary range of £65,000 to £100,000 in London, with the UK average ranging from £60,000 to £90,000.

Impact of Company Size

Company size significantly influences compensation structures:

• Small Companies (1-200 employees) may offer higher base salaries to compensate for less comprehensive benefits packages. Equity and share schemes are often used as additional incentives.
• Medium Companies (200-1,000 employees) typically offer competitive salaries balanced with solid benefits packages.
• Large Companies (1,000+ employees) provide comprehensive benefits but may cap top-end earnings.

UK Job Market Overview

The UK job market has seen significant shifts post-COVID-19, with a softening observed in 2023 after the initial boom. This has resulted in stagnation in salary growth and a reduction in job volumes across most functions. The tech industry, in particular, has shifted focus from growth to profitability, leading to targeted hiring for specific skills rather than mass recruitment.

Short-Term Predictions

Looking ahead, the demand for experienced tech professionals is expected to continue, particularly in software development, cybersecurity, and cloud computing. As more businesses return to the office, there may be friction as the balance of power shifts back to employers, potentially reducing flexible work opportunities.

Recommendations for Employers

To navigate these trends, businesses are encouraged to:

• Align compensation packages with market rates, especially in London.
• Offer flexible working options to attract and retain talent.
• Invest in continuous training and professional development to upskill employees and create clear career progression paths.
• Enhance employer branding to stand out in a competitive market.

By staying informed of these salary trends and adapting to the changing job market, companies can better position themselves to attract and retain top talent in 2024 and beyond.

Obtain a copy of the full report here...