S4E9 - Experiment Nation's 2024 CRO Salary Report and how to paid what you're worth with Tracy Laranjo
Apr 19, 2024
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In this discussion, Tracy Laranjo, an expert on CRO compensation, dives into the highlights of the 2024 CRO Salary Report. Tracy reveals the growing importance of salary transparency and the rising median salaries in the field. She addresses significant pay disparities, especially for women, and the dissatisfaction among junior professionals. Tracy emphasizes valuing oneself in competitive markets and the shifting mindset on job tenure, advocating for personal satisfaction over traditional career paths. Insights on self-reflection and storytelling for job seekers add a powerful touch.
The podcast underscores the increasing discrepancy between expanded responsibilities in CRO roles and the stagnant compensation, urging professionals to seek fair pay.
Tracy Laranjo emphasizes the importance of salary transparency and self-advocacy, particularly for women, in negotiating equitable compensation based on industry standards.
Deep dives
Challenges of Team Leadership
Team lead roles often come with increased responsibilities while salaries do not reflect the workload. Many individuals in conversion rate optimization (CRO) find themselves wearing multiple hats, serving as strategists, analysts, and sometimes even copywriters and designers. Despite the extra responsibilities, their compensation remains stagnant, leading to dissatisfaction among team leaders. This discrepancy highlights the need for clear salary expectations and adequate compensation to reflect the full scope of their duties.
Trends in CRO Salaries
The latest CRO salary report reveals positive trends in median salaries, indicating a rise from $70,000 to $78,000 over three years. This increase may be attributed to a growing number of experienced professionals entering the field and a potential rise in consulting roles, where individuals often command higher pay. The podcast discusses how economic fluctuations are influencing job market dynamics, leading many to seek consulting opportunities as companies cut costs. Additionally, it is vital to consider the varying salary satisfaction between different roles, as some positions experience significant dissatisfaction compared to others.
The Importance of Advocating for Fair Compensation
Understanding one’s worth and advocating for fair compensation are crucial steps for professionals, especially women in the CRO field. Salary transparency can empower individuals to negotiate better and ensure they are compensated comparably to their peers. The podcast emphasizes the use of available salary reports and personal accomplishments to inform negotiations and secure the desired pay. By focusing on the process and mindset behind their work, professionals can effectively communicate their value even without a portfolio of case studies, enabling them to strive for higher earnings.
It's that time of year again! It's time for Experiment Nation's 2024 CRO Salary Report. In this episode, we explore some of the report's highlights with Tracy Laranjo as well as ask her for her thoughts on how CROs and Experimenters can get paid fairly.
Find the CRO Salary report here: https://experimentnation.com/experiment-nations-2024-cro-salary-report/
Tracy's LinkedIn: https://www.linkedin.com/in/tracylaranjo/
Tracys email: hello@tracylaranjo.com
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