Growth Trends for Related Jobs
Marketing offers a wide range of professions for students with college degrees. Typically, college students with marketing degrees enter as marketing assistants or coordinators, and work their way up to senior ranks such as marketing director or vice-president. The Bureau of Labor Statistics reveals that marketing management jobs are some of the most coveted and prestigious due to the importance of sales and marketing within an organization. In May 2009, the average salary for marketing managers in the U.S. was $120,070 according to the BLS.
Marketing degree candidates entering a marketing coordinator position are usually entry-level and have less than two years of work experience. While marketing assistants may perform solely administrative functions for their team, coordinators assist with the preparation of sales proposals, marketing presentations and event materials. They create presentations, set up registration booths at events or conduct marketing research. The median expected salary for marketing coordinators was $49,566 according to a May 2011 Salary.com report.
Though some marketing degree candidates become marketing managers within two to three years of working in the industry, work experience for marketing manager roles usually falls within the five- to seven-year range. Because some marketing managers are responsible for the development and implementation of entire marketing plans, employers may prefer to hire candidates with no less than seven years of experience. Other tasks that fall under a marketing manager include internal communications, event planning, competitive analysis and product pricing. Salary.com stated that the median expected salary for marketing manager positions in the U.S. was $86,256 as of May 2011.
Directors usually oversee entire marketing departments and formulate marketing policies at the executive level, depending on the size and structure of their organization. Marketing directors define their company’s marketing strategy, set objectives and monitor performance of initiatives. While smaller organizations may only work from one marketing plan, directors in larger firms may oversee the development of marketing plans for more than one product line or business unit. Marketing degree professionals in this role typically hold at least 10 years of work experience. The median salary for marketing directors was $132,881, according to a May 2011 Salary.com report.
Students graduating with marketing degrees should expect a positive job market during the 2008 to 2018 decade, according to the Bureau of Labor Statistics. In addition to having strong creative abilities and technology skills, marketing degree professionals with extensive work experience will have the best job opportunities during this period. Moreover, continuing education and advanced degrees in marketing and business administration also increase professionals’ salary potential.
Professionals with marketing degrees must be cognizant that factors such as geography and industry impact salary potential. For example, the BLS stated that marketing managers in the computer design industry averaged $137,040 annually. Workers in the insurance industry reported annual earnings of $118,860. Marketing managers working in financial investment firms earned an average salary of $153,150. Among the states with the highest concentration of marketing managers, workers averaged $150,130 in New York, $136,990 in California and $131,610 in Virginia. New Hampshire workers earned the lowest average salaries at $96,640 per year.