Turnover is stubbornly high
While CMOs are in demand, they are often not at a company for long. The position has long been plagued by high turnover and there are no signs that the situation is improving. Of the 310 CMOs hired last year, four have already departed, with one lasting just four months, according to Taligence, which also found that about 19% of the CMOs hired in 2023 left within two years. It cited restaurants, financial services and biotech, pharmaceuticals and health care as having the highest attrition rates. The turnover “highlights the demanding nature of the position and problematic talent assessment,” Taligence stated.
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Companies are hiring externally
Those talent assessment issues seem to be affecting succession planning. A majority of companies continue to hire externally for CMO jobs, rather than finding candidates inside their own walls. Only16% of CMOs hired in 2024 were internal promotions, according to Taligence.
Agency executives are not in demand
When looking externally, companies don’t seem to be recruiting from ad agencies. Only about 7% of CMOs hired in 2024 had recent agency experience (within the past 10 years), with just five hires coming directly from the agency side, according to Taligence.
“Agencies have gotten very specialized over the years, more so in the last decade,” Wright said. And “many people recruiting CMOs are looking for people that can do and know about all of the things. So I think that's to the detriment of more CMOs being hired from [agencies].”
Remote opportunities dwindle
As more companies demand workers return to the office, CMOs are not immune. Only 13% of CMO jobs filled last year were for remote positions, down from 23% in 2023, according to Taligence. No remote hires were made in automotive, construction or retail. More flexibility was observed in biotech, pharma and health care, as well as media and sports and entertainment. Some candidates are prioritizing the flexibility hybrid roles provide.
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Female hiring is still strong, overall diversity is down
Companies continue to hire female CMOs at a strong clip—58% of the hires last year were women, only slightly down from 61% in 2023. In retail, 71% of the CMO hires were women. But the marketing industry continues to take a step back when it comes to overall diversity that does not factor in gender—only 14% of CMOs hired last year were diverse by that measure, down from 22% in 2023. The decline comes as many companies pull back on DEI programs.
The industries in which diverse CMO hirings fell the most include manufacturing (from 71.4% to 14.3%), automotive (40% to 0%) and consumer packaged goods (22.2% to 6.3%), according to Taligence.
Advanced degrees in demand
In some good news for universities, MBAs still appear to matter—38% of CMOs hired last year held the degree, “highlighting the continued value of advanced business education for marketing leadership roles,” according to Taligence.