From £20,000 to £30,000, the average wage is now £29,300, but a new model from the UK’s most successful car manufacturer could mean you can start earning £100,000 a year by 2020.
Marketing manager salaries are on the rise in the UK and are expected to grow by a third by 2020, according to the latest salary survey from Deloitte.
This comes as the industry is in the midst of a £6bn marketing blitz, with a new advert campaign, a new range of cars and a new brand of marketing software.
The new pay models also come as the country’s transport system is set to face unprecedented scrutiny as it struggles to meet growing demand from consumers.
The survey, carried out in conjunction with Deloittere, found that 40% of respondents said they are ready to pay more than £30 a week to make a change.
This was up from 31% last year.
The report, titled “The Biggest Change in Marketing Salary Since 1998”, shows that in 2020, the market is expected to earn £7bn, a 19% increase on the previous year, and will continue to grow at a healthy clip until 2026.
A big part of the growth will come from the car market.
The average pay is expected increase by a further 10% to £42,300 by 2020-21.
This compares with £28,100 last year, but that is expected rise by around a third in 2020-22.
The car market is also set to see a 15% increase in pay in 2020 and is forecast to generate £8.7bn.
The market for marketing managers is expected grow by 11% in 2020 from £31,200 last year to £33,800, with the top pay earning £70,000 by 2020 as part of a strategy of getting more staff to be in the car business.
“The new car industry is about to be the biggest growth industry in British business since the car industry exploded in the 1990s,” said Mark O’Brien, Head of Marketing at Deloettere.
“It is expected by 2020 to generate the highest level of revenue in the industry and we believe this will lead to a further £7 billion increase in the value of the industry in 2020.”
The survey also found that, for the first time in the survey, 40% said they would consider a job outside the car sales field.
This is up from 35% last season.
More money is also expected to flow into the business through new car deals.
The most lucrative of these deals, which are now in effect, will see a car company paying a £50,000 deposit to the buyer, in addition to the £15,000 the car manufacturer offers the buyer.
This, combined with a car warranty of £60,000 and a free parking pass, could earn an average of £30m a year.
In addition, the survey found that 75% of the workforce would consider the business as a new start-up, with 75% willing to give up their existing job.