Do you want to know the salary of a chief marketing officer? With a lot of data about the average chief marketing officer earned salary and information about the very best paid CMOs, this article will help you to understand how much does a CMO need to get paid.
Chief marketing officers are responsible for the company’s overall marketing strategy, including the creation of brand identity and product marketing. They usually specialize in one or more specific areas of marketing, such as public relations or advertising.
According to Payscale.com, the average salary for a chief marketing officer is $140,000 per year. The lowest 10% earn less than $100,000 per year and the highest 10% earn over $200,000 per year.
The Bureau of Labor Statistics (BLS) reports that chief marketers have an average annual salary of $170,970 and that those with less than five years’ experience earn an average salary of $112,680 per year.
Salary for chief marketing officer
A person working as a Chief Marketing Officer in Nigeria typically earns around 596,000 NGN per month. Salaries range from 274,000 NGN (lowest) to 948,000 NGN (highest).
This is the average monthly salary including housing, transport, and other benefits. Chief Marketing Officer salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Chief Marketing Officer Salary Distribution in Nigeria
The median, the maximum, the minimum, and the range
- Salary RangeChief Marketing Officer salaries in Nigeria range from 274,000 NGN per month (minimum salary) to 948,000 NGN per month (maximum salary).
- Median SalaryThe median salary is 644,000 NGN per month, which means that half (50%) of people working as Chief Marketing Officer (s) are earning less than 644,000 NGN while the other half are earning more than 644,000 NGN. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
- PercentilesClosely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Chief Marketing Officer (s) are earning less than 413,000 NGN while 75% of them are earning more than 413,000 NGN. Also from the diagram, 75% of Chief Marketing Officer (s) are earning less than 860,000 NGN while 25% are earning more than 860,000 NGN.
Chief Marketing Officer Salary Comparison by Years of Experience
How does experience and age affect your pay?
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Chief Marketing Officer salaries by experience level and this is what we found.
A Chief Marketing Officer with less than two years of experience makes approximately 311,000 NGN per month.
While someone with an experience level between two and five years is expected to earn 416,000 NGN per month, 34% more than someone with less than two year’s experience.
Moving forward, an experience level between five and ten years lands a salary of 615,000 NGN per month, 48% more than someone with two to five years of experience.
Additionally, Chief Marketing Officer (s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 749,000 NGN per month, 22% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 817,000 NGN per month, 9% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 884,000 NGN per month, 8% more than people with fifteen to twenty years of experience.
Chief Marketing Officer average salary change by experience in Nigeria
| 0 – 2 Years | 311,000 NGN | |
| 2 – 5 Years | +34% | 416,000 NGN |
| 5 – 10 Years | +48% | 615,000 NGN |
| 10 – 15 Years | +22% | 749,000 NGN |
| 15 – 20 Years | +9% | 817,000 NGN |
| 20+ Years | +8% | 884,000 NGN |
Percentage increase and decrease are relative to the previous value
Chief Marketing Officer Salary Comparison By Education
How do education levels affect salaries?
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Chief Marketing Officer salaries by education level in order to make a comparison.
When the education level is Certificate or Diploma, the average salary of a Chief Marketing Officer is 355,000 NGN per month.
While someone with a Bachelor’s Degree gets a salary of 557,000 NGN per month, 57% more than someone having a Certificate or Diploma degree.
A Master’s Degree gets its holder an average salary of 935,000 NGN per month, 68% more than someone with a Bachelor’s Degree.
Chief Marketing Officer average salary difference by education level in Nigeria
| Certificate or Diploma | 355,000 NGN | |
| Bachelor’s Degree | +57% | 557,000 NGN |
| Master’s Degree | +68% | 935,000 NGN |
Percentage increase and decrease are relative to the previous value
