LMA Report: CMOs Earn $164K to $293K
The Legal Marketing Association has just published their new "2005 Roles and Compensation Survey," prepared by Schmidt Marketing.
"The annual base salaries for responding law firm marketers go as high as $330,000, with the average for all respondents being $81,368, slightly lower than the 2004 average of $84,560," the report states. Total compensation averages $89,372, down from $93,653 last year, and tops out at $350,000 for these participants.
One of the interesting points is that 19% of new hires received a signing bonus, which ranged from less than $1,000 to $20,000. The average signing bonus was $5,848.
The most interesting info is on page 95 of the 98-page report: Total Monetary Compensation by Title and by Number of Lawyers
Chief Marketing Officer
# Lawyers Mean Median Maximum
101-200 $164,100 $151,500 $200,000
201-350 $244,333 $270,000 $293,000
Marketing Director
# Lawyers Mean Median Maximum
50 or less $72,256 $67,500 $150,000
51-100 $82,032 $80,000 $137,800
101-200 $122,585 $115,000 $212,750
201-350 $158,140 $140,000 $320,000
351-500 $157,883 $182,500 $200,000
501-700 $194,273 $170,000 $350,000
701-1000 $193,000 $190,000 $275,000
1000+ $229,500 $232,500 $303,000
The survey was conducted electronically, with a letter of invitation including a link to the survey sent to 2,625 individuals in the legal marketing. There were 449 respondents, almost entirely LMA members. The size of the law firms represented in the survey varied from fewer than 50 lawyers to more than 1,000. "The largest percentage of marketers (18%) works in firms between 51 and 100 lawyers," the report states.
There's a lot more information, slicing and dicing the compensation by title, region, education, staff supervised, LMA membership, role, type of firm, metro area and experience. The 98-page PDF is free to "full" members and costs $140 to "limited" members. If you're an LMA member, you can get a copy at http://www.legalmarketing.org/ws_news/nws_public.php?task=view&nws_id=50
