Note: the following article has been written based on the New Zealand marketplace as at February 2016, and figures are in NZD.
Remuneration is one example of where an Account Manager's value competes mercilessly with "industry standards", leaving only a very small window in which to negotiate one's salary.
In New Zealand the salary bands for Account Managers have changed very little over the last 10+ years. It seems the only way for agency staff to keep pace with inflation is to keep getting promoted! Fortunately, agencies have a recognised pathway for Account Managers to follow as they move through their careers.
The salary bands typically look like this (gross salary per year):
Good question! Your ability to negotiate your salary will depend on a number of factors (most of which will be completely out of your control):
Most agencies adhere to the accepted industry standards for salaries. That means if you will be functioning as an Account Manager, then you should expect to sit within the salary range for Account Managers (Account Executives within the Account Executive range, etc).
Negotiation within the accepted salary range usually comes down to your level of experience. How long have you been functioning at the level you are applying for? Does your experience put you at the lower or higher end of the salary range? Are you ready to "step up" to the next level in your career pathway?
You'll notice that different agencies often call their staff by different (and sometimes misleading) job titles.
For example, a small agency may call someone sitting at Account Manager or Senior Account Manager level an "Account Director" for a variety of reasons:
You may also come across Account Managers being referred to as Project Managers (junior, intermediate or senior). As titles become more blurred, determining salary levels and salary negotiation becomes more challenging.
If you are doing the salary negotiation yourself, then you need to be clued up on the salary bands within your marketplace. Once you know the bands, then you can figure out exactly where you sit and whether what you are being offered is fair.
If you have used the services of a Recruitment Consultant, then they will be able to advise you, and do the salary negotiation on your behalf.
Finalising a contract agreement should be a two-way process. The decision to negotiate, accept or decline is ultimately up to both yourself and the agency together. Hopefully a stout mix of industry standards and ballsy confidence will get both parties the result they want. Win-win!
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Research activities are typically initiated and conducted by your client, as part of their marketing remit. However, there is another type of research that is advertising-specific and is more likely to be initiated (or at least recommended) by your agency rather than by your client. The two main areas of research that an agency would get involved with are ‘pre-testing’ and ‘post-testing’.
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