Men outstrip women in sales and marketing by more than 50% when it comes to bonus time, new research has found.
The survey of 3,320 professionals by sales and marketing recruitment specialists, Alliance, reveals 28% of practitioners received a bonus or commission and just over half receive some type of benefit.
The data drawn from the Alliance MySalaryPortal revealed the average bonus received by males in the profession over the past year was $15,299 compared to a $10,727 bonus for women.
Alliance executive general manager, Paul Barbaro said payment of bonuses and benefits are a key part of a company’s arsenal to attract great talent and are a critical tool to retain and reward best performers.
“Many businesses have cut staff numbers and without the profits coming in they’re finding more creative ways to reward high performers whether through bonuses attached to profit or a mix of desirable benefits,” he said.
The research showed the highest recorded bonus was $130,000 received by a male GM of Marketing working in a large wholesale trade company in Sydney. He has a Masters degree and manages between 11-25 people.
Barbaro said the 50% disparity in bonuses between the genders mirrors inequities across other professions where research shows men consistently receive a larger cut of the pie. However, he said, the situation is changing in some professions.
“The equation is pretty simple, if a business doesn’t pay equitably, it won’t attract women and they will miss out on the diversity of thinking that both genders bring to the table,” he said.
“Other Australian professions actively track pay disparity and are addressing the gaps. For example, the accounting profession has acted on a major disparity in bonus payments between men and women.
“While male accountants over the past year received higher bonuses than their female counterparts – $10,612 compared to $8,025 – the gap has narrowed by 60%. In the previous year (2012 – 2013) the average bonus for male accountants was almost double at $12,900 versus $6,400 for women.
“It has to come from the top. In the case of the accounting profession there’s a strong commitment to make remuneration between men and women equitable. They recognise the competitive nature of the industry and the absolute value a great practitioner can have – whether that is a male or female,” Barbaro said.
The Alliance MySalaryPortal also revealed the more than half of the surveyed sales and marketing professionals received some form of workplace benefits.
Barbaro said trending in sales and marketing, and across a number of Australian professions, is a resurgence in training.
“A year ago paid training barely made the top 10 list. Now, professionals want to up skill to cover skills gaps left in shrunken teams and to broaden the scope of opportunity for themselves as the economy picks up pace,” he said.
“This is also a reaction by employers to provide staff with a benefit in lieu of a bigger pay rise and to address a dearth of sales digital skills we’re continuing to experience in Australia.
“This could however be a double edged sword for employers who want to keep their staff engaged but who risk losing them in the near future by arming them with attractive new skills.”
Top five benefits
|Mobile phone/mobile allowance||20.7%|
|Flexible working hours||15%|
|Company paid training||11.4%|
|Paid Maternity/Paternity Leave||8.9%|