In good news, women account for nearly half of the top marketing roles at major companies, including in the banking and financial services sectors, where there are more women leaders than men, according to a new report from the Association of National Advertisers. But companies remain woefully behind when it comes to promoting people of color to top marketing jobs.
The ANA’s first annual “CMO scorecard” tallies the makeup of CMO or CMO-equivalent roles at its 747 client-side members companies, which ranges from Apple to Verizon. The report found a gender breakdown of 45 percent female to 55 percent male. But only 13 percent of the top jobs are held by people of color, including 5 percent Asian, 5 percent Hispanic/Latin and 3 percent black.
That means that the leadership overseeing marketing budgets at the nation’s largest and most influential companies is more white than the general population. Black people comprised 13.3 percent of the total U.S. population as of July 1, according to the U.S. Census Bureau. The general population is 17.8 percent Hispanic and 5.7 percent Asian.
The organization plans to produce the report annually to track progress. “For too long, we’ve relied on inference and innuendo rather than hard facts and data,” said ANA CEO Bob Liodice. “We’ve now planted a stake in the ground against which we can begin to track our progress annually. But knowing these results is just the first step. We need complete commitment throughout our industry to create lasting change.”
The report includes revealing details about how gender and racial composition differs across industries. Of the 88 CMOs in the banking and financial services sectors, 47 are women and 41 are men. Women also claimed an equal or greater representation in sports and entertainment (27 women, 18 men) and consumer packaged goods (21-21). Men outnumber women in technology (27 men to 23 women), and food and beverages (52 to 25).
The representation of people of color in CMO roles was low across the board, but it’s surprisingly sparse in the sports and entertainment industries, where a large share of athletes and performers are minorities. When it comes to CMOs in those sectors, there is only one African American, one Hispanic and one Asian, according to the report.
Below, the report’s complete breakdown:
Banking and Financial Services: 88 CMOs
Food and Beverages: 77 CMOs
Technology: 50 CMOs
Sports and Entertainment: 45 CMOs
Consumer Packaged Goods: 42 CMOs
From AdAge.com, 03-27-2018, copyright Crain Communications Inc. 2013