DIGITAL LEADERS
WITH SUPPORT FROM
FOREWORD Welcome to The Up Group’s second annual Digital Leaders Remuneration Report. We’ve undertaken this project to again provide insight into digital executives’ financial compensation across a range of functions, levels and company types. In order to create this report, we surveyed our network of digital leaders across Europe. We received over 1,000 responses, the majority of which were from UK-based executives. Respondent demographics are set out on pages 2 and 3, and our methodology is described on page 24. It goes without saying that these findings are based purely on the information provided by survey respondents, and therefore caution should be exercised before drawing firm conclusions from the data. However, the overarching trends outlined in this report are borne out by our day-to-day experience of building outstanding digital teams for the world’s most innovative companies. We’re extremely grateful to everyone who took the time to complete the survey, and we’re delighted to be able to share our findings with you. Thanks in particular to Tech City UK’s Future Fifty programme, Accel Partners, Augmentum Capital, MMC Ventures, Northzone and Octopus Investments who promoted the survey to their networks. If there’s anything in this report that you’d like to discuss, please do not hesitate to get in touch.
Clare Johnston and Robert Swerling Co-CEOs, The Up Group
2-3 4-5 6-7 8-9 10-11 12-13 14-15 16-17 18-19 20-21 22 23 24
Survey Demographics 2015 Trends Compensation vs funding stage Founders CEO General Management Technology Product Marketing Commercial Finance / Operations HR / eCommerce Methodology / About us
All remuneration values are displayed in GBP
@TheUpGroup the-up-group enquiries@theupgroup.com +44 (0) 20 3005 5600 www.theupgroup.com
CEO FEMALE
C-LEVEL
COMMERCIAL
DIGITAL LEADERS Remuneration REPORT 2015
FINANCE
GENERAL MANAGEMENT
EVP / SVP / VP HR INSIGHT / INTELLIGENCE
MALE MARKETING
MD / DIRECTOR
OPERATIONS
PRODUCT
STRATEGY
HEAD OF MANAGER INDIVIDUAL CONTRIBUTOR
2
GENDER
LEVEL
TECHNOLOGY
ECOMMERCE
FUNCTION
ADVERTISING
SURVEY DEMOGRAPHICS
COMMERCE
1-200
LISTED/PUBLIC
COMMUNICATIONS
FINANCIAL SERVICES
201-1000 PE-BACKED
GAMBLING GAMING HARDWARE LEISURE
PRIVATELY OWNED
MEDIA AND CONTENT
NOT FOR PROFIT / CHARITY OTHER PRODUCTIVITY
DIGITAL LEADERS Remuneration REPORT 2015
DATING EDUCATION ENERGY ENTERTAINMENT FMCG
1000+
PROFESSIONAL SERVICES SEARCH SOCIAL
SOFTWARE
VC-BACKED
TRAVEL
S E C TO R
C O M PA N Y S I Z E
C O M PA N Y O W N E R S H I P
3
WAR FOR TALENT
SECTORS WITH THE BIGGEST % INCREASE
FUNCTIONS WITH THE BIGGEST % INCREASE
GAMBLING ADVERTISING FINANCIAL SERVICES
TECHNOLOGY ECOMMERCE PRODUCT
DIGITAL LEADERS Remuneration REPORT 2015
MEDIAN TOTAL REMUNERATION BY AGE
+11.7% TOTAL RENUMERATION CHANGE
+7.1% MEDIAN SALARY INCREASE
+33.3% MEDIAN BONUS INCREASE
25-34 35-44 45-54 55-64 0
50,000
100,000
150,000
200,000
MEDIAN TOTAL REMUNERATION BY TEAM SIZE 0 1-10 11-50 51-200 200+ 0
50,000
100,000
150,000
200,000
250,000
300,000
MEDIAN % CHANGE OF TOTAL REMUNERATION BY COMPANY OWNERSHIP
+15.7% +10.7% +10.1% +6.6% PE-backed
VC-backed
Privately owned
Listed / Public
MEDIAN % CHANGE OF TOTAL REMUNERATION BY HOW THEY MOVED
4
% change shows difference between 2015 and 2014
+16.7% +16.1% +12.1% +4.3% Direct approach by former colleague
Headhunted by search firm
Introduced through network
Internal Move
WOMEN IN DIGITAL
M W
MEDIAN SALARY BY LEVEL
MEDIAN BONUS
0
0
C-LEVEL EVP DIRECTOR 50,000
100,000
+7.69%
DIGITAL LEADERS Remuneration REPORT 2015
MEDIAN % SALARY INCREASE
+9.52%
MEDIAN % BONUS INCREASE
+19.71%
1/5
WOMEN TO MEN by respondents
+39.83%
MEDIAN TOTAL RENUMERATION BY AGE 25-34 35-44 45-54 0
50,000
100,000
150,000
200,000
5
COMPANY OWNERSHIP AND FUNDING STAGE This table outlines how compensation packages compare between public companies on the one hand, and VC- and PEbacked companies on the other. We asked respondents from public companies to provide us with the value of their annual equity or equity-like compensation, rather than a percentage; whereas with VCand PE-backed companies we asked for the percentage of the company their options or equity represented, assuming all options were fully vested. The table also provides insight into the movement of executives between the different types of organisation during the previous 12 months.
6
PUBLIC Previous Company
Base
Private
C-Level
237,000
EVP/SVP/VP
160,827
MD/Director
135,000
VC
24%
15%
PUBLIC
Bonus C-Level
PE
8%
Public
57%
120,000
EVP/SVP/VP
70,000
MD/Director
50,000
Equity* C-Level
42,000
EVP/SVP/VP
50,000
MD
30,000 *like compensation
BeneďŹ ts Healthcare
84.6%
Pension
82.9%
Gym membership
25.2%
Living allowance
9.8%
School fees
4.9%
Company car
35.5%
Travel
1.9%
Happiness
VC & PE Base C-Level
Series A
Series B
Series C+
PE
125,000
120,000
154,890
175,000
EVP/SVP/VP
94,000
110,000
135,000
145,000
MD/Director
93,000
90,000
110,000
145,000
Previous Company VC
23.3%
VC
Bonus C-Level
Public
42.2%
24,000
30,000
39,000
70,000
EVP/SVP/VP
7,310
29,241
45,000
65,793
MD/Director
18,600
10,000
25,000
29,241
Private
PE
26.1%
8.4%
VC
Public
28.4%
25.0%
Equity C-Level
2%
1%
1%
1%
PE
Private
23.9%
BeneďŹ ts Healthcare Pension Gym membership
42.0%
57.9%
26.0% 16.0%
42.1% 10.5%
70.3%
73.9%
70.3%
67.0%
16.5%
17.0%
Living allowance
2.0%
2.6%
School fees
2.0%
0.0%
Company car
0.0%
0.0%
5.5%
2.6%
1.1%
Meals
Happiness
6.0%
5.5% 1.1%
PE
22.7%
0.0% 2.3% 25.0% 1.1%
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DIGITAL LEADERS Remuneration REPORT 2015
GENDER RATIO
HAPPINESS
BEST REWARDED IN
W
4.3/5
PROFESSIONAL SERVICES MEDIA & CONTENT FINANCIAL SERVICES
EDUCATION
SIZE OF TEAM
TIME IN ROLE
AGE
LOWER SECONDARY
0
LESS THAN 6 MONTHS
UPPER SECONDARY
1-10
6-12 MONTHS
BACHELORS
11-50
1-3 YEARS
MASTERS
51-200
3-5 YEARS
PHD
200+
5-10 YEARS
25-34 35-44 45-54 55-64
M
10+ YEARS
8
MBA
FOUNDERS COMPENSATION
2015 Median Salary 2015 Median Bonus
SIZE OF COMPANY 1-200
100,000
201-1000
195,000
100,000 30,000
COMPANY OWNERSHIP VC
100,000
PE
117,890
27,000
100,000
12%
1000+
25,000 11%
Public Private
100,000
43,862
FUNCTION
CEO
General Management
Marketing
Product
Technology
eCommerce
Operations
HR
Finance
Strategy
DIGITAL LEADERS Remuneration REPORT 2015
49%
Commercial
We have broken out Founder as a separate category – and excluded Founder salary and bonus data from the following pages – because in most cases Founders’ salary and equity are vastly different from other executives with similar job titles.
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DIGITAL LEADERS Remuneration REPORT 2015
GENDER RATIO
HAPPINESS
BEST REWARDED IN
W
3.6/5
GAMBLING COMMUNICATIONS ADVERTISING
EDUCATION
SIZE OF TEAM
TIME IN ROLE
AGE
LOWER SECONDARY
0
LESS THAN 6 MONTHS
UPPER SECONDARY
1-10
6-12 MONTHS
BACHELORS
11-50
1-3 YEARS
MASTERS
51-200
3-5 YEARS
PHD
200+
5-10 YEARS
25-34 35-44 45-54 55-64
M
10+ YEARS
10
MBA
CEO COMPENSATION
2015 Median Salary 2015 Median Bonus
200,000 77,445
COMPANY OWNERSHIP
SIZE OF COMPANY 1-200
200,000
201-1000
300,000
1000+
328,966
50,000
VC
154,890
PE
200,000
21,931
102,345 320,000
8% 102,345
3%
Public
256,499
Private
200,000
180,000
60,000
DIGITAL LEADERS Remuneration REPORT 2015
4%
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DIGITAL LEADERS Remuneration REPORT 2015
GENDER RATIO
HAPPINESS
BEST REWARDED IN
W
3.8/5
GAMBLING SOFTWARE FINANCIAL SERVICES
EDUCATION
SIZE OF TEAM
TIME IN ROLE
AGE
LOWER SECONDARY
0
LESS THAN 6 MONTHS
UPPER SECONDARY
1-10
6-12 MONTHS
BACHELORS
11-50
1-3 YEARS
MASTERS
51-200
3-5 YEARS
PHD
200+
5-10 YEARS
25-34 35-44 45-54 55-64
M
10+ YEARS
12
MBA
GENERAL MANAGEMENT TITLE
SIZE OF COMPANY
C-Level 2015 Median Salary 2015 Median Bonus
195,000 58,482
2015 Median Salary 2015 Median Bonus
165,000 80,000
MD / Senior Director / Director 2015 Median Salary 2015 Median Bonus
146,207 50,000
160,000 250,000
1000+
260,000
1-200
135,000
201-1000
160,000
1000+
180,000
1-200
130,000
201-1000
145,000
1000+
160,000
50,000 125,000 150,000
87,724 75,000 78,593
36,551 65,793 54,827
VC
150,000
PE
200,000
Public
275,000
Private
165,000
VC
131,586
PE
180,000
30,000 80,000 200,000 60,000
100,000 80,000
Public
165,214
75,000
Private
165,000
75,000
VC
140,000
42,000
PE
150,000
30,000
Public
160,000
Private
120,000
54,827 36,551
DIGITAL LEADERS Remuneration REPORT 2015
EVP/SVP/VP
1-200 201-1000
COMPANY OWNERSHIP
This category excludes CEOs as they are considered separately on pages 10 and 11. It includes the following job titles: COO, VP International, MD Europe.
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DIGITAL LEADERS Remuneration REPORT 2015
GENDER RATIO
HAPPINESS
W
3.8/5 M
BEST REWARDED IN
GAMBLING MEDIA & CONTENT ADVERTISING
EDUCATION
SIZE OF TEAM
TIME IN ROLE
AGE
LOWER SECONDARY
0
LESS THAN 6 MONTHS
UPPER SECONDARY
1-10
6-12 MONTHS
BACHELORS
11-50
1-3 YEARS
MASTERS
51-200
3-5 YEARS
PHD
200+
5-10 YEARS
25-34 35-44 45-54 55-64
10+ YEARS
14
MBA
TECHNOLOGY TITLE
SIZE OF COMPANY
C-Level 2015 Median Salary
2015 Median Bonus
157,187 30,000
2015 Median Salary
2015 Median Bonus
131,586 20,000
MD / Senior Director / Director
131,586 165,000
1000+
210,000
1- 200
131,586
201-1000
125,000
1000+
147,146
1- 200
104,000
20,000 50,000 51,172
7,310 30,000 39,296
15,000
201-1000 2015 Median Salary
2015 Median Bonus
115,000 25,000
1000+
115,000
40,000
Public
168,138
Private / VC / PE
150,000
Public
150,000
Private / VC / PE
131,586
Public
124,248
Private / VC / PE
104,000
51,172 24,000
41,900 7,310
45,900 15,000
DIGITAL LEADERS Remuneration REPORT 2015
EVP/SVP/VP
1- 200 201-1000
COMPANY OWNERSHIP
15
DIGITAL LEADERS Remuneration REPORT 2015
GENDER RATIO
HAPPINESS
BEST REWARDED IN
W
3.7/5
MEDIA & CONTENT COMMERCE FINANCIAL SERVICES
EDUCATION
SIZE OF TEAM
TIME IN ROLE
AGE
LOWER SECONDARY
0
LESS THAN 6 MONTHS
UPPER SECONDARY
1-10
6-12 MONTHS
BACHELORS
11-50
1-3 YEARS
MASTERS
51-200
3-5 YEARS
PHD
200+
5-10 YEARS
25-34 35-44 45-54 55-64
M
10+ YEARS
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MBA
PRODUCT TITLE
SIZE OF COMPANY
C-Level 2015 Median Salary
2015 Median Bonus
155,000 40,000
2015 Median Salary
2015 Median Bonus
138,194 55,000
MD / Senior Director / Director 2015 Median Salary
2015 Median Bonus
115,925 22,923
130,000 150,000
1000+
240,000
1- 200
120,000
201-1000
140,000
1000+
178,000
1- 200
100,000
201-1000
100,151
1000+
125,000
Public
200,000
Private / VC / PE
155,000
Public
138,194
Private / VC / PE
140,000
20,000
Public
125,000
19,737
Private / VC / PE
100,000
30,000 70,000 100,000
20,000 56,000 60,000
25,000
100,000 36,000
80,000 35,000
25,000 20,000
DIGITAL LEADERS Remuneration REPORT 2015
EVP/SVP/VP
1- 200 201-1000
COMPANY OWNERSHIP
17
DIGITAL LEADERS Remuneration REPORT 2015
GENDER RATIO
HAPPINESS
BEST REWARDED IN
W
3.6/5
GAMBLING COMMUNICATIONS ADVERTISING
EDUCATION
SIZE OF TEAM
TIME IN ROLE
AGE
LOWER SECONDARY
0
LESS THAN 6 MONTHS
UPPER SECONDARY
1-10
6-12 MONTHS
BACHELORS
11-50
1-3 YEARS
MASTERS
51-200
3-5 YEARS
PHD
200+
5-10 YEARS
25-34 35-44 45-54 55-64
M
10+ YEARS
18
MBA
MARKETING TITLE
SIZE OF COMPANY
C-Level 2015 Median Salary
2015 Median Bonus
175,000 73,103
2015 Median Salary
2015 Median Bonus
140,000 60,800
MD / Senior Director / Director 2015 Median Salary
2015 Median Bonus
124,440 30,000
140,000 250,000
1000+
245,000
1- 200
95,000
201-1000
116,965
1000+
165,000
1- 200
110,000
201-1000
150,000
1000+
135,000
30,000
163,737
20,469 39,296 70,000
21,931 40,000 30,000
Public
230,000
Private / VC / PE
150,000
Public
160,827
Private / VC / PE
108,423
Public
135,000
Private / VC / PE
116,965
180,000 40,000
70,000 39,296
30,000 20,000
DIGITAL LEADERS Remuneration REPORT 2015
EVP/SVP/VP
1- 200 201-1000
COMPANY OWNERSHIP
19
DIGITAL LEADERS Remuneration REPORT 2015
GENDER RATIO
HAPPINESS
BEST REWARDED IN
W
3.8/5
COMMUNICATIONS SOFTWARE ADVERTISING
EDUCATION
SIZE OF TEAM
TIME IN ROLE
AGE
LOWER SECONDARY
0
LESS THAN 6 MONTHS
UPPER SECONDARY
1-10
6-12 MONTHS
BACHELORS
11-50
1-3 YEARS
MASTERS
51-200
3-5 YEARS
PHD
200+
5-10 YEARS
25-34 35-44 45-54 55-64
M
10+ YEARS
20
MBA
COMMERCIAL TITLE
SIZE OF COMPANY
C-Level 2015 Median Salary
2015 Median Bonus
165,000 80,000
2015 Median Salary
2015 Median Bonus
150,000 80,000
MD / Senior Director / Director 2015 Median Salary
2015 Median Bonus
130,000 56,000
160,000 219,310
1000+
250,000
1- 200
124,276
201-1000
180,000
1000+
166,000
1- 200
100,000
201-1000
120,000
1000+
146,000
Public
182,759
Private / VC / PE
150,000
60,000
Public
166,000
120,000
Private / VC / PE
135,000
Public
146,000
Private / VC / PE
110,000
85,000 50,000 190,000
90,000
56,000 70,000 50,000
80,000 61,000
80,000 87,724
61,956 50,000
DIGITAL LEADERS Remuneration REPORT 2015
EVP/SVP/VP
1- 200 201-1000
COMPANY OWNERSHIP
21
HR TITLE
C-Level 2015 Median Salary
2015 Median Bonus
151,000 50,000
EVP/SVP/VP
DIGITAL LEADERS Remuneration REPORT 2015
2015 Median Salary
2015 Median Bonus
130,000 26,000
MD / Senior Director / Director 2015 Median Salary
2015 Median Bonus
119,158 31,875
1-200
138,600
201-1000
151,000
1000+
262,000
1-200
110,000
201-1000
154,000
1000+
212,000
1-200
85,000
30,000 55,000 87,724
25,000 26,000 50,000
21,000
201-1000
127,500
31,875
1000+
123,457
36,551
eCOMMERCE TITLE
2015 Median Salary
1-200
210,000 99,000
201-1000
170,000
1000+
210,000
150,000 75,000
201-1000
150,000
80,000
2015 Median Salary
1000+
146,207
73,103
2015 Median Bonus
1-200
115,000
201-1000
108,000
1000+
135,000
MD / Senior Director / Director 2015 Median Salary
2015 Median Bonus
120,000 80,000
1-200
EVP/SVP/VP
125,000 30,000
Public
262,000
Private/ VC/PE
138,600
Public
165,000
Private/ VC/PE
130,000
Public
119,158
Private/ VC/PE
100,000
87,724 30,000
50,000 25,000
31,875 18,600
COMPANY OWNERSHIP
SIZE OF COMPANY
C-Level
2015 Median Bonus
22
COMPANY OWNERSHIP
SIZE OF COMPANY
21,931 12,500 45,000
Public
210,000
Private/ VC/PE
150,000
Public
195,000
Private/ VC/PE
150,000
Public
135,000
Private/ VC/PE
120,000
80,000 99,000
85,000 75,000
45,000 20,000
FINANCE TITLE
C-Level 2015 Median Salary
2015 Median Bonus
150,000 40,000
EVP/SVP/VP 2015 Median Salary
130,000 45,000
MD / Senior Director / Director 2015 Median Salary
2015 Median Bonus
112,000 40,000
1-200
137,500
201-1000
150,000
1000+
330,500
1-200
105,000
Public
30,000 30,000 330,000
30,000
201-1000 1000+
163,737
1-200
110,000
100,000
40,000
201-1000 1000+
120,620
60,310
OPERATIONS TITLE
1-200
2015 Median Salary
2015 Median Bonus
175,000 54,000
201-1000
145,000 60,000
201-1000
120,000
1000+
200,000
2015 Median Bonus
1-200
92,000
201-1000
73,103
MD / Senior Director / Director 2015 Median Salary
2015 Median Bonus
52,500
145,000
60,000
1000+
1-200
EVP/SVP/VP 2015 Median Salary
175,000
138,000 40,000
1000+
140,000
400,000 625,000 150,000
40,000
Public
163,737
100,000
Private/ VC/PE
130,000
30,000
Public
138,896
Private/ VC/PE
110,000
60,310 38,000
COMPANY OWNERSHIP
SIZE OF COMPANY
C-Level
Private/ VC/PE
80,000 60,000
18,000
45,000
Public
146,000
Private/ VC/PE
175,000
Public
150,000
Private/ VC/PE
145,000
Public
140,000
Private/ VC/PE
60,000 52,500
DIGITAL LEADERS Remuneration REPORT 2015
2015 Median Bonus
COMPANY OWNERSHIP
SIZE OF COMPANY
80,000 50,000
45,000
73,103 10,000
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METHODOLOGY DIGITAL LEADERS Remuneration REPORT 2015
All remuneration values are displayed in GBP For non-UK respondent data, the following exchange rates for 1 GBP were used for comparison: EUR 0.73 SEK 0.08 ILS 0.17 HKD 0.08 CHF 0.67 SGD 0.46 DKK 0.10 USD 0.65 AED 0.18 AUS 0.45 NOK 0.08 ARS 0.07 Rates correct as of 7/9/15
We surveyed 1,083 respondents for our Digital Leaders Remuneration Report. A link to an online survey was emailed to c.10,000 of The Up Group’s network of senior digital executives, and distributed by partner organisations in August 2015. 75.02% of respondents were UK-based, but we have also included non-UK respondent data in our findings. Location appeared to have little or no influence on the data so we decided not to use this as a filter when presenting our findings. References in the survey to private companies are to unlisted companies that are not VC- or PE-backed. GBP is used throughout. Our data was cleaned, categorised and reported in that state – without adjustment or refinement. Some erroneous results can and will occur. Throughout the report, median salary values have been presented to account for outliers in respondent data.
ABOUT US The Up Group delivers outstanding digital talent and industry insight for the world's most innovative companies. Our business is driven by a global digital talent network unique in its quality, diversity and depth, and a profound understanding of the digital economy. This enables us to place exceptional candidates into Board, CxO,VP and Director roles across geographies, sectors and functions, and offer world-leading due diligence, talent-mapping, and professional networking services. We have a proud track record of building senior management teams for clients ranging from global tech giants and corporates undergoing digital transformation, to establised businesses looking to expand internationally and fast-growing tech stars. We have broad cross-functional expertise, spanning general management, product, marketing, technology, commercial, sales and business development, operations, finance, HR and strategy.
Design by Jack Hagley www.jackhagley.com 24
Based in London, The Up Group serves clients and candidates across the world. www.theupgroup.com
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