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Dated: 01 October 2002
The Jamaica Employers Federation Salary Survey 2002, which was officially released in September, gives employers justification for keeping salary increases within the 10% threshold, as that is now the norm.
A very current document, data collection for this year’s survey took place between June and August 2002, with the participation of 156 entities from a sample of over 300 companies and organisations.
Survey figures indicate that there is a trend towards salary increases being 10% and less, in terms of both current and projected increases. These increases, it was revealed, are linked to the inflation rate which is in the region of 10%.
Of particular interest is the projections for increases in salaries up to 2005. Using figures from the 2000/01 period, which reflected increases ranging from 0-20%, and narrowing each year thereafter, the survey indicates that by 2005 increases will range from between 6-8%. Not very encouraging news for those employees and their unions who have become used to demanding and receiving increases in the double digit range.
Information coming out of the survey revealed that some companies have reduced the number of managers/executives and expanded the responsibility of the top managers. Companies, it indicated, have also started to use a performance related pay scheme, while converting allowances to the annual figures. Housing allowances, for example, which is given by 50% of companies, could be as high as $920,000 per annum.
Using very detailed Salary Summary Tables, the survey shows a breakdown of salaries for various sectors, from the highest annual figures to the lowest and also the mean, the median and the standard deviation.
While the breakdown in the area of PR/Marketing is not as thorough as some practitioners in this field would like it to be, the numbers nonetheless, are quite revealing. Advertising/Marketing/PR, in many instances tend to be lumped in a field called ‘Media/PR’,(see Table 2) so there are no salary figures for positions such as Account Executive, Creative Director nor Art Director. But, there is hope. In the 1996 survey (see Table 1) for example, there were no figures for the job title, PR Manager, but the surveyors moved with the times and by 1998, the salary survey showed a PR Manager making a debut with a million dollar package. In 2002, this position is now attracting a salary of almost $1.5M.
Included are the Salary Summary Tables for Marketing/Sales, which give a breakdown by titles (see Table 3 on previous page) and for Public Relations/Communications Manager, which gives the breakdown by sector (See Table 4 on this page).
Topping the scale is the position of VP Marketing, which commands a maximum salary of $3.6M and a minimum of $1.2M. A Marketing Manager’s salary ranges from a high of $3.4M to a minimum of $646,000, with a standard deviation of $712,337.
The table below (Table 5) – Marketing/Sales – shows the turnover in terms of millions of dollars and the maximum, minimum and mean dollar value for a variety of related marketing/sales positions. Turnover, as it relates to the survey, measures the annual gross sales of the company.
Therefore, a company with annual gross sales of over $800M offers their Sales Manager a salary package that is almost three times that of a company with annual gross sales of between $1 to $20M. (See Table 5).
The 2002 Salary Survey defines the following positions thus:
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