Chief Medical Officer Salary
|25th Percentile Chief Medical Officer Salary||$358,870||US|
|50th Percentile Chief Medical Officer Salary||$409,626||US|
|75th Percentile Chief Medical Officer Salary||$476,683||US|
|90th Percentile Chief Medical Officer Salary||$537,735||US|
The CMO is responsible for facilitating growth, sales and marketing strategy. They must work towards objectives such as revenue generation, cost reduction, or risk mitigation. The unpredictable effect of marketing efforts, coupled with the need to drive profits, often leads to a short tenure for most CMOs.
Most CMOs have approximately 10 years of well-rounded marketing or business development experience in positions of increasing responsibility, as well as three to five years of experience in a leadership role. Some experts recommend identifying a specific area in which you can excel.
Chief marketing officers require a bachelor’s degree in a business related subject, and are often required to hold a master’s degree . They require extensive experience in business and marketing . The median annual salary they can expect is about $171,000.
The five highest paid CFOs among the 500 largest U.S. public companies by revenue as of April 30. Safra Catz, Oracle Corp., $108.3 million. Ruth M. Porat , Alphabet Inc., $47.3 million. Luca Maestri . Apple Inc., $26.5 million. Michael Fleisher, Wayfair Inc., $23.6 million. John P. Nallen, 21st Century Fox Inc., $20.8 million.
The Top 8 Skills Your Successful CMO Will Need Flexible and Adaptable Management Style. Chief marketing officers are first and foremost managers. Vision and Strategic Planning. Technical Competency . Data Analysis and Interpretation. Account-Based Marketing Approach. Customer and User Experience. Innovative Thinking. Content Management.
A clearer path between chief marketer and CEO has materialized in recent years. In smaller enterprises that path from CMO to CEO is a direct one. But in larger firms like Fortune 500 companies, you will typically need to go through an interim step; the Chief Commercial Officer role.
VP /SVP of Marketing describes their role just fine. The Modern CMO .
|Chief Marketing Officer||VP Marketing|
|Contributes to product direction and strategy||Given final product and told to figure out how to market it|
|Board-level interactions||Little to no board-level interaction|
|Business leader||Marketing leader|
Corporate Communications Director. Average salary: $124,054. Marketing Research Director. Average salary: $111,907. Director of Email Marketing. Average salary: $102,588. Director of Digital Marketing. Content Marketing Director . Product Marketing Manager. Demand Generation Manager. Brand Marketing Manager.
Regardless of your education path, a strong history of marketing experience is required for someone to reach a CMO position. You ‘ll want at least a decade of relevant experience if you don’t have an MBA . Seek out companies where you can take on leadership and practice the soft skills required for the CMO position.
The BLS reports that the upper 10% of marketing managers earned more than $185,320, as did managers in advertising and promotions. Market research analysts in the top ten% earned more than $122,630.
A successful CMO is always looking for creative solutions. They recognize the value of innovation and are willing to take the risks to facilitate it. Furthermore, they understand when to let go of the past and what they’ve grown accustomed to, so that their team can move forward and explore new approaches.
To become a CMO , someone will be expected to hold a medical degree. Past experience in health care and in leadership positions is also very important. It is usually beneficial to hold leadership and industry certifications as well.
In general, today’s highly successful marketers: Are revenue-driven marketers. Know their customers and markets. Create remarkable customer experiences. Are great storytellers. Test everything and assume nothing. Never stop acquiring new marketing tricks. Use data to make decisions. Enjoy working with technology.
Requirements Proven experience as marketing officer or similar role. Solid knowledge of marketing techniques and principles. Good understanding of market research techniques, statistical and data analysis methods. Excellent knowledge of MS Office and marketing software (e.g. CRM)