Advertising compensation should line up with your business plan and strategies, as it impacts recruitment, retention and job performance for your sales staff. Make an analysis of your current compensation system your starting point. From there, you can determine pay structures and develop pay ranges through survey sources.
With a compensation and advertising salaries system in place, you will be positioned to strengthen your business and improve your compensation and reward structure, thus improving performance. The ultimate goal is, of course, to send your profits to new heights.
The average annual salary for advertising jobs is listed between $45,000 and $59,000. However, salaries in advertising vary significantly, depending upon the level of responsibility, length of service, education, firm size and location. Other factors to consider include:
1. Advertising salaries may depend on the size of sales territory a representative has to cover.
2. Advertising agency salaries should reflect the representative's experience.
3. Potential for bonuses and commissions should be reflected in advertising salary.
Action Steps
The best contacts and resources to help you get it done
Find advertising pay scale online
A number of online sources exist when it comes to researching advertising agency salaries. Much research has been conducted on the subject and most salary reports can be ordered online. You can usually find basic information for free.
I recommend: Access salary survey information from
PayScale. You'll find not just base salary data but also commission scales as well.
Hire a consultant to come up with an advertising salary guide
If you're not a human resources professional, it may be best to hire one on for the job of establishing advertising salary ranges and policies. You may find professional help especially great if you're revamping your entire performance evaluation system.
I recommend: HR Consultants, Inc. offers a number of human resource services including compensation analysis and design. The
Employers Resource Association offers its member organizations human resource specialist services where a professional can help out a business, based upon its needs, with no contract, just hourly billing.
Compute advertising industry salaries through software
If your budget won't allow for hiring a professional human resources specialist, consider software as a valuable option when it comes to determining advertising industry salaries. There are many different software packages to choose from.
I recommend: Receive a free trial, schedule a demo or product tour of
Halogen Software's eCompensation software.
Callidus Sales Performance Warehouse software covers incentive compensation management, territory management, quota planning and performance analytics. Download a data sheet or an incentive management white paper.
Tips & Tactics
Helpful advice for making the most of this Guide
- Employment in advertising positions is expected to increase. Job growth will increase because of competition in products and services offered to consumers, spurring activity in a variety of advertising media.
The official source of Advertising Salary Tools is
the Advertising Salary Tools page at Business.com
Related Resources from Business.com
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