There is a positive feeling across the commercial market in the London market as we continue through 2022.

Changes in the landscape post pandemic have meant commercial roles are not only in high demand, but are also a vital part of the digital transformation and regrowth of businesses.

Marketing and Social

Marketing and social media are undergoing a rapid transformation. Not only due to increase in both customer expectations and usage. But with such a competitive market place keeping up to date with the latest trends and innovations is imperative.

Along with every many other industries and fields, there is a growing skills shortage, in marketing and social, so to attract this top talent companies are willing to pay, and an industry wide increase has been noted over the past 2 years.

Product

The competition between locations and companies in the digital economy and the increasing specialization in product, means it is becoming a challenge for companies to secure talent.

The job market for product in general is transforming, primarily because there is a shortage of highly qualified talents, and the digital skills are differentiating increasingly. There is a lot of competition between companies to secure talent in this specific area.” 

Beth Pink, Principal Consultant explained “In specialized job markets like Product, Digital talent easily find jobs and can demand a high salary due to a simple supply and demand issue. As a result, this leads ultimately to higher salaries, which we have seen increase by 20% in the last year alone.”

Project Management

Project managers have had to overcome many challenges since the pandemic, firstly working toward is effective communication skills when working remotely.  They also need to look at tools to maximise effectiveness in hybrid business models. Aswell as being fully agile and fast moving.

This evolution of the role has meant companies are willing to increase salaries to secure the very best in project management talent to ensure successful delivery. Salaries have seen around a 5% increase between 2020 and 2022.

Strategy

“The demand for strategists remains strong in the UK. Influencer marketing and social strategy have both become sought after additional skill sets in recent years.” explains Harry Fowler, Commercial Talent Consultant. In the current climate candidates are weighted towards freelance opportunities in this area as candidates are seek out the most interesting and exciting projects to work on, but this could change as the market evolves.

This salary benchmark  is a median.  We acknowledge there are vast discrepancies across the technology market, but based on the current market these are the salaries that employees and employers can expect. Other factors that may effect salary bands includes level of experience, technical skill set, region or location and the future scope of the role.

If you would like to discuss hiring or salary trends in Commercial talk to the team today. Or if you are looking for a new opportunity explore the job board.