Sales managers, senior brand managers, financial controllers and operations managers are the highest paid employees in the fast-moving consumer goods (FMCG) sector, according to a salaries and benefits report by Misco.
In sales, head of sales or sales managers are the highest paid where the mean stands at around €41,970. In marketing, senior brand managers have the highest mean of remuneration at around €44,210 followed by marketing managers with a mean of €32,300. In operations, financial controllers top the list with a mean of €52,610 followed by operations managers with a mean remuneration of €48,490.
Misco’s report, ‘Salaries & Benefits Report for the fast-moving consumer goods (FMCG) sector’, focuses on three key employment areas within this sector, namely sales, marketing and operations, and includes 26 positions.
An interesting aspect in this report is that allowances for company cars and fuel are the most expensive benefits, followed by communication allowances and health benefits, which are the least expensive. Taking a senior brand manager position, the allowance for a company car and fuel currently stands in the region of €3,632, communication allowance stands at €645 and health insurance at €285. Other benefits amount to an average of €1,620.
Financial controllers top the list with a mean of €52,610
Other positions covered by this report include sales executives, sales clerks and sales reps,junior brand managers, graphic designers, merchandisers, office assistants, messengers, accounts clerks, supply chain managers, warehouse managers and delivery persons.
The sample on which this report is based is made up of importers, distributors as well as manufacturing firms. It includes the basic, variable (performance bonuses and/or sales commission) and total remuneration packages for all 26 positions included in the report. It also includes a breakdown of the employee benefits being offered in each position.
“Since this report is the first of its type in Malta, we cannot really refer to correlations on how this sector operates and performs in terms of increases or decreases in salaries. Nonetheless, it is a good start and a very valuable starting point for all those employers operating in this sector in Malta,” said Maria Zahra from Misco, who led the compilation of this report.
Misco’s Salaries & Benefits Report for the FMCG sector provides guidance on the pay ranges to be attached to grades or bands when designing a pay structure, supports a market pricing approach to valuing jobs and helps companies make informed decisions about remuneration packages to ensure they can attract and retain the best people for their organisation.
“Having access to robust and up-to-date market information is essential so that employers, HR managers and other operators get a clear picture of how people in this sector are being remunerated. This helps them retain or improve their status and become better and more attractive employers,” added Ms Zahra.
“Establishing remuneration packages depends on where the organisation wants to be positioned in its market. The main factors that will determine this include getting the right talent for the job, the traditional pay posture of the organisation, the organisational culture and performance levels required. Misco will always encourage organisations to carry out such an exercise when determining their pay structures by using important yardsticks such as job descriptions, performance management systems and job evaluation exercises,” concluded Ms Zahra.