Maybe you are a highly skilled, outgoing person. You may have sold cosmetics or home care products, creating the beginnings of a career from home. If you want to make marketing your career or avocation, then you need to go to school and earn your bachelor’s degree and a master’s degree. This knowledge is the best for you to take to progress into a role as a marketing manager.
While your outgoing personality, ability to convince others to buy scented products for their homes and persuasiveness are all strong skills you need, there’s more you need to learn. First, get the education you need, especially if you plan to become a marketing manager in the future.
How Much Do Marketing Managers Make?
On average, you’ll earn $67,490 annually as an entry-level marketing manager. In marketing, your earnings will be augmented by additional compensation, such as profit sharing, commissions and bonuses.
Average median salary for marketing managers is $131,180 and the highest paid made $208,000. The best paying cities for marketing managers is as follows:
|San Jose, California||$201,380|
|New York City||$188,510|
|Wilmington, North Carolina||$181,420|
Source: US News
What is my Earning Potential?
At the beginning of your marketing management career, your earning potential has you earning $67,490. Your median pay may be $131,180 and, at the 75th percentile, $178,690. This is quite a spread between the 10th percentile and the 90th percentile. Your role is valuable, so your employer wants to see you stick with the company. Your bonuses begin to increase here.
As a senior marketing manager, your pay has, by now, jumped so it’s just a little less than $100,000. You’re earning $97,705. As you log more time in the senior managerial role, this annual pay will go up to $120,000, then $140,000 for the 90th percentile.
How do Marketing Manager Salaries Compare?
Your annual compensation, as compared to other management roles, looks good. Computer and information systems managers’ annual salaries range from $80,160 at the 10th percentile, up to $187,200 at the 90th percentile.
Medical and health services managers begin at $56,230 at the 10th percentile, moving up to $165,380 at the 90th percentile.
Financial managers, at the 10th percentile, earn $63,020. At the 90th percentile, they are earning $187,200.
Human resources managers begin at $61,300 at the 10th percentile. At the 90th percentile, they are also earning $187,200.
Purchasing managers begin at $60,830 at the 10th percentile. At the 90th percentile, this increases to $172,950. All of these numbers are as of 2015.
Is there Demand for This Career?
As of 2015, the demand for marketing managers was at 8 percent, showing that jobs in this sector are rising higher faster than for other industries. The demand for marketing managers stems from the need for businesses and companies to set their services and products apart from all the other companies, as the market grows ever more crowded.
These companies need talented, passionate marketing managers. This is a field that attracts people who like the challenge of developing a marketing concept and campaign for their company’s products or services. However, marketing managers have to compete hard for these positions. The more advanced education and experience they have, the better positioned they are to be offered a position.
Marketing managers determine the demand for a product, plan, direct and carry out marketing campaigns and figure out what worked as opposed to what didn’t work.
What is the Job Growth for This Field?
Between 2014 and 2024, marketing management positions will grow at about 9 percent, which is higher than the job growth for all jobs. Just two years later, this percentage increases to 10 percent, with a forecast that the number of jobs in 2016 was 249,600. Between 2016 and 2026, an additional 23,800 jobs should be added.
However, in 2013, the projected job growth was 12 percent. All of these numbers show that marketing continues to be a sought-after field for companies all across the U.S., as marketing majors complete their educational programs at the bachelor’s and master’s levels.
Because marketers and marketing managers work alongside the creative departments in their organizations, they work with numbers and with the creative campaigns for which they are responsible.
How Much Competition Will I Face for a Job?
You’ll face pros and cons in becoming a marketing manager. Even though this field holds your passion, it also holds the passion of tens of thousands of others in this field. The competition for these positions is keen, because candidates for these managerial positions will be able to satisfy their creative streaks. They also receive several perks and know that, if they are especially good at their work, they will be chosen to advance to the highest ranks in their company.
What Kinds of Institutions Hire Marketing Managers?
As a qualified marketing manager, you’ll be able to move into just about any organization in which you would like to work. If sports is your passion, you may work for a sporting firm, a sports team, a university sports team.
Other types of jobs where your skills and knowledge are needed include the music industry, luxury brand firms and even law firms. You may also work for a company that produces children’s clothing, women’s clothing or even high-end clothing.
You may work for a firm that creates television and radio commercials for a wide range of clients and products or services. You may even be responsible for conceiving of and carrying out an internet advertising campaign.
This field isn’t as well-known as others. You may have received what you thought of as “telemarketing calls,” but these asked survey questions about specific items and brands. This, too, is marketing. A successful marketing manager knows how to create a successful survey campaign. They create the questions for individual surveys and ensure the questions are cast in such a way that an unwanted bias won’t be introduced. Once all the survey responses have been collected and collated, the marketing manager presents them to their client, who now has the information they need to make needed changes.
How Do I Advance my Career as a Marketing Manager?
Your value to your employer comes in numbers. Specifically, your return on investment, or ROI. By developing and running a successful marketing campaign, you help drive sales totals up, which helps your employer or company improve its revenues and profits up.
Your employer understands numbers. Therefore, collect data that shows your ROI. Your supervisor will want to see numbers in customer acquisition, lead generation and budget ROI. As you present these numbers, be sure to stress the percentage of increase between last year and now.
Reach out to other teams and learn what their priorities are.
Learn everything you can about your industry. Read and bookmark marketing blogs. Attend networking events in your community and region, getting your name known.
Learn about and become familiar with new marketing tools, such as Hotjar, Canva, Google Analytics, Piktochart and Pexels.
Begin giving to others rather than just forming connections to increase your network. Find those from whom you can learn. Finally, be the one who spreads good vibes.
Develop soft skills, such as collaboration, ability to influence others, innovation and creativity.
Adapt to new skills and beliefs.
Know how much you are worth. Measure your worth, not just in salary, but in how much satisfaction you get from your work.
Take risks and push beyond your personal and professional comfort zones.
You’re the only one responsible for your career. Take control and don’t expect others to help you advance. Cast this as “My ideal work day looks like. . .” Here, you’ll be able to answer questions about feeling fulfilled your work.
You will fail in some of your efforts. Don’t be afraid of this. The old saying says, “It’s in failing that you learn about yourself.” it’s true. Every time you fail, you learn, not just what you did wrong, but about yourself.
Learn what motivates you. (Recognition, achievement, responsibility, appreciation, personal growth, being developed and feeling involved.)
Build your personal brand. How do you want others to perceive you? What do you want others to feel about you?
Change the self-talk from “I can’t.” The self-talk should be, “I can, IF.” You’ll find yourself becoming more confident.