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Marketing Jobs and Salaries
© 2012 by Aurelio Locsin.
The best and most valuable products and services in the world only earn profits for their producers when marketed to a target audience. Thus, the job of marketing is to advertise value and why customers should take advantage of an organization’s offerings. Salaries for marketing professionals vary by job title and employer.
Marketing research analysts, who may also be called marketing specialists, examine the buying and selling conditions in cities and states, and across the nation to determine how a product and service can sell. They look at competing products, forecast marketing trends, collect data about consumer habits and preferences, and use statistical software and computer modeling to analyze information. Most employers require at least a bachelor’s degree for the profession, with higher job levels needing at a master’s degree. A credential in the form of a Professional Researcher Certification is available from the Marketing Research Association, which mandates having at least three years of related experience, being a member of a professional organization and passing an exam.
Research Analyst Salaries
As of May 2011, the Bureau of Labor Statistics states that the nation’s 318,190 market research analysts earned a mean $67,130 per year, or $32.27 per hour.
- The 90th percentile earned $112,560 yearly, or $54.12 hourly, while the 10th percentile received an annual $33,490, or $16.10 per hour. T
- he largest employers were management, scientific and technical consultants, which hired 34,500 and paid average salaries of $66,130 per year, or $31.80 per hour.
- Motor vehicle manufacturing boasted the best average pay of $99,320 yearly, or $47.75 hourly, but for only 170 individuals.
Marketing managers plan marketing campaigns that advertise an organization’s products and services. They consult with other department heads to determine the products to feature and the best strategies to use. They then determine where to advertise, what advertisements to use and how much to spend on advertising. They may initiate research projects and analyze the findings, and deal with clients directly to provide advice. A bachelor’s degree is the minimum requirement, although many managers also have a master’s degree. Many years of experience are also needed, which managers may have obtained as sales representative, research analysts, buyers or promotions specialists.
Marketing Manager Salaries
About 168,410 marketing managers earned a mean $126,190 per year, or $60.67 per hour in 2011.
- Lows that were less than an annual $60,230, or $28.96 hourly, and highs that rose above $187,199 per year, or $90 per hour.
- The largest employer, which was the management of companies and enterprises, hired about 14 percent of the total and paid a mean annual $131,980, or $63.45 hourly.
- However, the highest wages were with other financial investment activities, averaging $169,770 per year, or $81.62 per hour, for 2,010 workers.
- U.S. Bureau of Labor Statistics
The Bureau of Labor Statistics is the principal fact-finding agency for the Federal Government in the broad field of labor economics and statistics.