If you’re a digital marketer looking for your next role, there’s never going to be a better time than today!
The amount of digital marketing job vacancies has rebounded massively. During the pandemic we experienced the lowest levels of open job vacancies in recent records.
During the pandemic many employers implemented hiring freezes in 2020/ 2021. This led to what we are seeing now, as businesses and agencies increase their recruitment efforts to compensate.
Additionally, many businesses found success with online advertising during the pandemic. So now there is a greater demand for digital marketing services than ever before.
Now, there are almost double the pre-pandemic levels of available jobs, and the digital marketing job market has never been better for digital marketers and candidates.
The amount of open job vacancies has seen the largest quarterly decrease since early 2020 during the pandemic, and now stands at 1,266,000, with a decrease of 34,000 (-2.6%). This growing decrease in job vacancies comes as no surprise, following 11 consecutive months of growth slowdown and a downward trend in open job vacancies that started in May- April.
The amount of open job vacancies have risen rapidly since July 2020 and to significantly higher levels than we saw pre-pandemic. This slowdown and decline was inevitable, as the supply of digital marketing professionals is catching up with demand. This could signal the potential end of the candidate-driven market we’re currently experiencing in.
This decrease in open job vacancies in all industries is likely to continue and be further intensified by the potential recession that we’re facing in the UK. Many businesses may slow down or even stop their hiring efforts in preparation for a potential recession. And while the digital marketing industry has experience significant growth over the past few years, businesses may scale back spend on advertising.
But what does the state of the digital marketing job market mean for your salary?
Because of the still record high number of open job vacancies in the UK, digital marketing salaries are having to increase at a competitive rate to attract and retain the best digital talent. ONS statistics show that salaries have risen 5.2% across all sectors in the third quarter of the year. But digital marketing salaries have risen at a well above average rate of 8.9%.
However, when adjusted for inflation, real world pay across all industries in the UK fell by 2.6%. Despite the higher salaries available, the increases in cost-of-living mean that this money is worth less and less.
Inflation rates fell slightly in the last month, but still remain high, and are still predicted to keep on increasing. The Bank of England forecasts inflation rising to 11% in October. However, Senior economist at the Resolution Foundation, Jack Leslie, tells us that the Bank of England may predict inflation rates as high as 15% by early 2023.
The unprecedented amount of digital marketing job vacancies means digital marketing professionals have more bargaining power than ever. And the below inflation wage increases that many are experiencing, mean that this could see a reverse, as more and more digital marketers look for new jobs.
If your job isn’t offering you regular pay increases that are in line with inflation, then have a look at our open job vacancies here.
We also asked some of our digital recruitment experts for their advice for digital marketers in the current climate. To find out how you can best prepare yourself for the future of the digital marketing job market, and how to take advantage of the current market.
Tarn Kieft, Performance Marketing Recruitment Consultant:
“There’s always a huge need for cross channel specialists. If you only learn one channel, you’re stuck in one type of industry and one type of network. But if you have a broad range of experience you can be more flexible and have more job opportunities.
Ecommerce remains a massive part of the digital marketing industry, as more and more consumers turn to online retail. So having experience with Google Shopping is an almost necessary skill.
New technology like Performance Max is the evolution of this. Automation is the future of PPC, Paid Search and Paid Social, so having experience with tech like Performance Max puts you in a great position.”
Kyle Blake, SEO Recruitment Consultant:
“Everyone loves to say SEO is dead. But there are so many businesses and digital agencies that are searching for experienced SEOs. If it keeps going the way it is, organic could easily overtake paid.
Technical SEO is huge, everyone with a website needs it. So getting experience in tech SEO while you can is a great idea. But most of all, keep up to date on the market and keep learning!”
If you’re ready to look for your next role, or not sure if it’s the right move for you, get in contact with our digital recruitment experts who can offer confidential advice about your unique situation and the overall digital job market.
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