Every business starts to increase its profit by bringing growth for the business in form of increased market share along with revenue. Since companies are now facing increased competition, they prefer to reach and retain customers by achieving sustainable growth through improved marketing strategies. This has led to the emergence of a senior-level marketing role of the chief growth officer (CGO). Let us see about the salaries for Chief growth Officer.
A CGO manages a company’s growth with metrics like social return on investments, employee engagement, revenue, etc. The CGOs are given salaries considering their role in the business. This article will elaborate on the salary details of CGOs in the United States.
Salaries For Chief Growth Officer
The salaries for Chief Growth Officer has an estimated total pay of $218,908 per year in the United States. Their average salary is $194,180 per year. Additionally, they receive an estimated payment of $24,728 per year which includes commission, profit sharing, tips, and a bonus in form of cash. Individual survey data showed base salaries of $195,978 to a medium data of $256,154 whereas highest paying cities marked it to as high as $351,346 as well at an individual level.
How to become Chief Growth Officer?
Comprehensive knowledge of all aspects of a business and how they work for bringing growth to the company is a must to have a thing for a chief growth officer. Education and skills both play a pivotal part in becoming a successful Chief Growth Officer.
Chief Growth Officer Salary Based on States
All the states of the United States of America have different ranges of salaries for the chief growth officers.
Alaska exists in the northwest extremity of North America. The salary range of CGOs is between $219,691 and $393,859 per year. The per-hour rates for CGOs in Alaska are between $106 and $189. The average base per hour salary and the Average base salary per year are $138 and $287,149 respectively.
California is located on the Western side of the United States of America. The Chief growth officer gets a salary between $218,908 and $392,453 per year. The per-hour rates for CGOs in the state of California are between $105 and $189. The base per hour salary on average is $138 and the salary per year average base is $286,124.
District of Columbia:
District of Columbia or Washington DC is the federal district and capital city of the United States of America. The salary of CGOs ranges between $217,986 and $390,802 per year. The Chief growth officer in Washington DC earns per hour rates between $105 and $188. Per hour salary on an average basis is $137 and salary per year is $284,920 on an Average base.
New Jersey is located in the northeastern and Mid-Atlantic regions of the United States of America. The CGOs are earning between $216,673 and $388,448 per year. The Chief growth officer in New Jersey is earning between $104 and $187 on a per hour basis. The salary is $136 per hour on average and the salary per year is $283,204 on average base year.
Massachusetts is located in the region of New England in the United States of America. The Chief growth officer earns between $213,224 and $382,264 per year. The CEOs in Massachusetts gain between $103 and $184 on a per-hour basis. Salary is $134 per hour on average and per year is $278,696 as the base salary average.
Chief Growth Officer Salary based on experience
Salary buildups are usually linked with a person’s level of experience. In broad respect, the more years you devote to your career as a chief growth officer, the more chances are there for you to expect more earnings. Experience can play an important role in grabbing a handsome salary According to the bureau of labor statistics Entry level or less than 1-year experience grab an average salary of $65,056 per year. In the early career of 1 to 4 years, the expected average salary is $107,311 per year. Mid-career i.e. at least 5 to 9 years of experience holds you eligible for an average salary of $166,265 per year. Experienced CGOs with 10 to 19 years of service are eligible for an average salary of $220,733 per year. In the late career with twenty-plus years of experience, CGOs receive an average range of $331,099 – $351,346 on yearly basis.
Chief Growth Officer Salary based on cities
How much you can make as a chief growth officer is also determined by your location i.e. where you live or which state you belong to. Normally, being employed in a large city draws a parallel to a higher salary but the cost of living is also high. Salaries in cities of different states are as follows:
- In San Jose, the average salary per year is $321,474.
- In Santa Clara, the average salary per year is $320,474.
- In Fremont, the average salary per year is $320,654.
- In San Francisco, the average salary per year is $320,224.
- In Daly City, the average salary per year is $320,193.
- In Berkeley, the average salary per year is $304,824.
- In Oakland, the average salary per year is $303,820.
- In Concord, the average salary per year is $304,414.
Houston (Texas), New York City (NY), Seattle (WA), Charlotte (NC), Detroit (MI) have average salaries of $221,115, $221,064, $220,291, $218,628 and $216,802 respectively. Cincinnati (OH), Indianapolis (IN), Nashville (TN), Salt Lake City (UT) and Oklahoma City (OK) have average salaries of $165,100, $163,589, $149,572, $142,789 and $134,257 respectively.
The job description of Chief Growth Officer includes working all across the departments, using technology to drive growth, and knowing the customer well. Since the CGOs create new pathways of growth by utilizing their skills of limited resources optimization, their salary is also correlated to the intensity of their work. They enjoy handsome packages ranging between $65,056 and $351,346 per year based on their experience as well as their location.
What is the job description of the chief growth officer?
CEOs maximize the fulfillment of investment purposes and monitor the trends of the future. They are experts in handling matters relating to sales, finance, and marketing. Their job identifies how each department impacts consumer belief and interest to raise the chances of the company’s growth.
What percentage of tax applies to a Chief Growth Officer?
As an individual filer of the tax bracket, an estimated average federal tax on the salary of the Chief Growth Officer would be 32% annually.
What is the highest and lowest salary for the chief growth officer?
The lowest and the highest salary in the United States are $65,056 and $351,346 per year respectively for a Chief Growth Officer.