As we look to 2025, Joanna Milne, Head of Practice Business Development and Marketing at Totum, reviews the year and suggests some trends for the new year in an article first published by PM Forum Magazine, read it here.

The candidate market for business development and marketing roles in professional services has fluctuated significantly over recent years. Unsurprisingly, we saw a huge increase in advertised opportunities post-Covid with a 76% year-on-year increase between 2020 and 2021.

This continued throughout 2022, with a further 34% increase in opportunities over this period. However, the past couple of years have seen a marginal and expected reduction in roles.

Negative hype around the Labour Government’s first Budget and the impact of the US election saw market caution in the autumn, but opportunities are beginning to filter through now. IPA Bellwether’s Q3 report suggested that firms aren’t cutting marketing budgets, they’re simply pausing them until they know more about the Government’s economic plans. As IPA Director General Paul Bainsfair said: “This may indeed prove to be a temporary dip in overall marketing spend rather than the start of a long-term downward trend.”

Statistics

• Roughly 20% of individuals in the market are open to a new position, according to LinkedIn.
• According to a study by Glassdoor, firms that prioritise culture fit during the recruitment process experience a 20% lower turnover rate.
• According to Totum’s Reward Survey, median salaries for chief marketing and business development roles rose 23% between 2022/23 and 2023/24.
• As BD and marketing roles in professional services become increasingly strategic, senior-level candidates are looking for roles that allow them to engage with business challenges around digital transformation, new ways of working and different business models. This is still a work in progress, with just half (51%) of BD and marketing leaders sitting on the board of law firms, according to 2023 research by Briefing.

For more insights, research and the full trend forecast from Joanna, read the article here.

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