Marketing Majors: Salary and Career Facts

<p>A postsecondary student who concentrates their studies on marketing is a marketing major. Some of the topics they study may include consumer behavior, sales, market research, economics and business law. A common career option for marketing majors is to become a marketing manager. Marketing managers determine which markets a product should be targeted at. They may also be involved in determining the product's price and may also monitor sales trends for products and services. They are involved with the development of products, and also work with the sales staff to ensure the product is marketing effectively. They usually need a bachelor's degree in marketing to prepare for this career. </p> <p /> <table border="1"><tr><td><b>Degree Required</b></td><td> Bachelor's degree</td></tr> <tr><td><b>Training Required</b></td><td> Internship recommended</td></tr> <tr><td><b>Key Responsibilities</b></td><td> Analyzing research data, assessing marketing trends, working on product development to target specific markets, assessing ideal price point for product, communicating with product developers and sales staff</td></tr> <tr><td><b>Job Growth (2020-2030)</b></td><td> 10%*</td></tr> <tr><td><b>Median Salary (2020)</b></td><td> $142,170*</td></tr> </table><p><i>Source: *U.S. Bureau of Labor Statistics (BLS)</i> </p> <h3 id="section---WhatJobsCanIObtainWithABachelorSDegreeInMarketing">What Jobs Can I Obtain with a Bachelor's Degree in Marketing?</h3> <p>A bachelor's degree in marketing will prepare you for entry-level positions in all areas of marketing, from creative roles--such as media design and copywriting--to market research and analysis. Depending on your interests, you could work in sales, account management, insurance, purchasing, advertising or research. </p> <p>Former marketing majors commonly find work in the private business sector; however, you could also pursue a career in the nonprofit, government, media and education sectors. Common employers are advertising agencies, market research firms, magazines, newspapers, consulting firms, publishing companies and consumer organizations. </p> <p>Examples of occupations for which you may qualify include <a href="https://learn.org/articles/Online_Public_Relations_Schools_Your_Questions_Answered.html">public relations</a> specialist, marketing coordinator, investment manager, media planner, sales representative and marketing assistant--to name just a few. With experience or additional education, you can take on more supervisory roles and become a marketing director, public relations manager, market research analyst, sales manager or account executive. Top marketing research and postsecondary teaching positions typically require an advanced degree. </p> <h3 id="section---WhatWillMyJobDutiesBe">What Will My Job Duties Be?</h3> <p>Specific job responsibilities depend on your job title and the industry in which you work. Some graduates start out as marketing coordinators and aid a marketing team with various tasks, such as developing pitches, assisting sales programs and monitoring customer satisfaction. As a market researcher or analyst, you would prepare surveys to collect data about customer preferences and use the data to help your employer or clients make decisions about product design, development and distribution. Market researchers may also design advertising campaigns, sales plans and brochures to promote products, services or an overall brand. </p> <p>Marketing managers are often responsible for overseeing product development and determining client acquisition strategies based on the demand for products and services. As a marketing manager, your tasks would include creating pricing and branding strategies to maximize your firm's profits and monitor economic trends to identify new opportunities. </p> <h3 id="section---WhatIsTheJobOutlook">What Is the Job Outlook?</h3> <p>Job prospects for those who majored in marketing are good overall. According to the U.S. Bureau of Labor Statistics (BLS), employment of marketing, advertising, promotions, public relations and sales managers is projected to rise by 10% over the period of 2020-2030. The BLS reports that jobs for market managers are expected to grow 10% during the same decade, which is as fast as the average for all national occupations. </p> <p>Economic growth and the competition for goods and services will help create new jobs. The BLS also states that marketing manager positions are less likely to be impacted by company downsizing than are other areas of management. Continued globalization of the marketplace will also spur new jobs, especially in market research. Candidates with strong computer skills, particularly in new media, may have the best job prospects (<i>www.bls.gov</i>). </p> <h3 id="section---WhatCanIExpectToEarn">What Can I Expect to Earn?</h3> <p>Annual salaries can vary according to level of responsibility, company size and industry. The BLS states that the median annual wages of marketing managers were $134,290 per year as of 2018. Those working in scientific research and development services earned significantly higher annual salaries, with an average income of $190,460. Marketing managers in oil and gas extraction averaged $183,500, and those in cable and other subscription programming earned an average annual salary of $184,770. </p> <h3 id="section---WhatAreSomeRelatedAlternativeCareers">What Are Some Related Alternative Careers?</h3> <p>Occupations that are similar to the work of a marketing manager include market research analysts, public relations specialists and advertising managers. All of these professions require a bachelor's degree. Market research analysts assess data to determine market trends. They help identify the potential sales for a new product. This is part of the work that a marketing manager may perform, or they may oversee market research analysts. Public relations specialists are, in a way, sales experts. Their specific focus is on shaping public opinion of their client, which could be a business, organization, celebrity or politician. They create press releases and try to generate material that will present their client favorably. Advertising managers generate interest in products. They develop marketing campaigns to get people interested in the product they're promoting.</p>