The world of marketing has expanded exponentially in recent years due to social media and other internet -related outlets. Companies now want experts in Facebook, Instagram and YouTube on their staff. Traditional marketing outlets such as television and radio are important as well, so the field needs a number of knowledgeable employees to keep up with all the platforms. Plus, the number of marketing options continues to grow each year. All of these things can factor in how marketing salaries are determined.
If you are pursuing a job in the marketing sector, you are certainly curious about your salary prospects. While the overall job market may be currently thriving, many of those new positions are low-paying service jobs. In contrast, the marketing industry offers you the opportunity to land a number of moderate to high-paying positions. The job descriptions of these positions vary as do the marketing salaries they offer, although there is a great deal of overlap. Understanding which positions are most lucrative may play an important part in your career choice and ultimate success.
Marketing Manager Salaries
A marketing manager usually oversees all of the marketing efforts of a specific company, including developing marketing plans, executing these plans and evaluating their effectiveness. These managers are often college-educated, holding degrees in areas such as marketing, business and public relations. The size of your employer will help determine the size of your paycheck. A big national corporation will obviously pay more than a small local company.
Salary Range: $43,000 – $113,000
Chief Marketing Officer Salaries
A chief marketing officer, or CMO, works to improve a company’s bottom line by creating marketing plans that improve product and brand reputation to make the business more competitive in its particular market. They must be experts on both the customer’s and the company’s needs and be able to merge them into a viable strategy.A CMO often holds one or more advanced degrees in business and marketing and reports directly to the CEO.
Salary Range: CMO salaries can range from approximately $85,000 to $315,000.
Marketing Consultant Salaries
Some companies do not have the internal resources to plan marketing campaigns and may turn to an outside resource. A marketing consultant is an outside source of expertise for a company that needs help with its marketing efforts. As a consultant, you would help various companies create and implement marketing plans to improve their branding and profitability. Often, you will be working with the company’s marketing department on a specific campaign. You would also have the opportunity to have numerous profitable clients.
Salary Range: $60,000 – $104,000
Marketing Coordinator Salaries
Some companies choose to have a marketing coordinator, while others include these duties under other job marketing job titles. As a marketing coordinator, you will create and implement marketing and advertising campaigns. In addition,you will track sales data and plan trade shows and marketing meetings. You will be responsible for assembling and managing teams for various promotions. Your range of duties will be broad and comprehensive.
Salary Range: $48,659 – $63,528
Promotions Manager Salaries
Promotion managers plan and manage promotional campaigns that promote their companies services and/or products. For instance, a car dealership may have an outdoor fun day to bring in customers. These promotions are most often meant to boost short-term sales of a particular product. Most promotions managers have a college degree in advertising, business or marketing and can work in a number of industries.
Salary Range: $72,000 – $108,000
Marketing Specialist Salaries
Many marketing positions emphasize a deep dive into statistics. As a marketing specialist, you will be conducting market research to identify consumer trends. You will also develop marketing campaigns, work with third-party vendors and analyze marketing data. You must be an analytical thinker to be a marketing specialist. Most marketing specialists have at least a bachelor’s degree in communications, marketing or business.
Salary Range: $58,805 – $79,031
Vice President of Marketing Salaries
If you are ambitious, you won’t be satisfied until you’ve climbed the corporate ladder. Vice presidents of marketing are at the top of the marketing food chain. If you reach that level, you will be coordinating various department in order to successfully implement marketing strategies and plans. You will be monitoring all campaigns from their inception until their completion. As a result, you are responsible for the success or failure of any and all marketing efforts. Vice presidents of marketing usually have years of experience in a number of positions and possess advanced marketing and business degrees. As a result, these executives receive top marketing salaries.
Salary Range – The average salary is $136,660 per year but can reach as much as $257,000.
Making a Top Marketing Salary
The salary that you make as a marketing executive will vary for a number of reasons. Only a small percentage of employees hit the top of the range, but those in the middle still make a healthy salary. Your experience in the field is one of the most important factors in the size of your yearly wage, particularly you history with your current company. Obviously, you will earn more if you have been there for ten years instead of two. Longevity matters to employers and allows you to prove your abilities. Other important salary factors are:
- Education. You should make a higher salary if you have a college degree. Advanced degrees mean even more, particularly as you rise in your profession.
- Professional associations and certifications. These items show that you are respected in your field and have translated your training into results.
- Job evaluations – Your success in performing your job should be the biggest factor in your salary. In reality, your wages depend on how your boss feels you are doing your job. If you are lucky, the two items will be the same, but perception matters.
- Employee relationships – You need to be seen as a leader who can work well with bosses, peers and underlings. Long-term relationships within the company are an important factor in your remuneration.
- The company’s bottom line. As a marketing professional, you have a direct effect on company profits. If they are up, you get to take some of the credit. If they are down, you will certainly be expected to share in the blame. In marketing, the proof is in the sales.
- Geography. Some areas of the country simply pay better than others. For instance, you can expect to make more money if you work in New York than if you have the same position in Minneapolis. Of course, the cost of living is less in Minnesota,so that makes up for some of the salary deficit. If you want to land at the top of the salary you may have to consider moving to an urban center such as LA, Chicago or New York.
As a beginner in the marketing industry, you may need to settle for much less money than the average salary for your position. If the job offers you a chance at promotion, the initial sacrifice may be worth it, especially if you do not hold a degree in business, advertising or marketing. Remember, senior vice presidents in charge of marketing began their careers in a much less prestigious position with lower marketing salaries.
You may also receive bonuses as a result of your efforts or be given financial incentives to meet certain goals. These “extras” can add thousands to your yearly take-home pay. Since good marketing executives are in so much demand, your success will make it easier for you to negotiate yearly pay increases. Your bosses will know that you can find another lucrative job rather easily.
Marketing Industry Outlook
Now is a good time to pursue marketing positions. It is a $43 billion industry that employs over 355,000 people. Plus, the demand for marketing experts will always be there as long as commerce exists. Many of the positions are closely related, so you should have career flexibility. You may move from being a marketing consultant to a marketing manager rather quickly. All businesses need marketing services of some type, so you should be able to maintain steady employment. Overall, marketing remains a smart career choice for creative, hardworking people.
Marketing salaries look particularly good when compared to the median income of all Americans. In the 35 to 44 years range, US citizens earn $976 weekly/$50,752 annually. As a marketing executive, you can expect to earn much more than this amount when you hit that age category. In fact, you should far exceed the median wage when you begin your career. Currently, young people ages 20 to 24 years can expect a median wage of $525 weekly/$27,300 annually. A position in marketing should pay you more than that even when you lack experience.
If you are in the marketing field or are planning a marketing career, you can feel secure about your decision. Marketing salaries are well above the median wage in the United States; experts are in much demand and the field offers a real chance at upward mobility. Basic marketing skills can translate well in a number of executive positions, so once you learn your craft, you should have an excellent career future.
Register as a candidate instead? click here →