Salary Survey 2021: Addressing the career consequences of Covid
As exclusive Marketing Week data reveals one in 10 marketers have been let go over the past 12 months, many in the industry are shaking off the stigma of redundancy and proving they can thrive amid the career carnage of Covid.
It is an inescapable fact that the past 12 months have taken a severe toll on marketers’ careers. The pandemic has sparked waves of redundancy, periods of furlough and put progression on hold indefinitely. Marketers have been asked to take pay cuts and seen their hours reduced as businesses scramble to reduce costs.
The figures are stark. One in 10 marketers (9.9%) were made redundant over the past 12 months and 12.7% were placed on furlough, according to exclusive data from the 2021 Marketing Week Career and Salary Survey.
The survey of 2,453 marketers reveals 11.7% of respondents have had a promotion delayed or made unlikely as a result of the pandemic, while a fifth (20.3%) have taken a cut in compensation. Some 7.7% of all respondents have had their hours cut.
Drilling down into the figures, more male marketers were made redundant during the past 12 months (11.5%) than their female peers (8.9%). However, female marketers were more likely to be furloughed (14.8%) than their male counterparts (9.8%). Marketers in their mid-career (35 to 44 years) were most likely to be made redundant (11.7%).
The data shows a discrepancy when it comes to ethnicity. While just 9.6% of white marketers were made redundant in the past year, this figure climbs to 11.9% for BAME respondents. Some 19.2% of BAME marketers have also had their promotions delayed as a result of Covid-19, versus 10.7% of their white peers.
