These days, marketing professionals are in great demand and consequently, there is a rise in demand for marketing degrees. Having a good marketing degree can allow you to earn $25,000 as a fresher and $1, 00,000 or higher as a marketing manager at the senior level. The compensation package of a professional depends a lot on the type of marketing degree he possesses. Find out why marketing degree salary tends to vary across companies.
The marketing institution that you pass out from has a lot of influence on your salary. It is an open secret that marketing degrees obtained from reputed universities can earn higher salaries after graduation. Although degrees from an accredited university are acknowledged as proper, those from reputed ones are treated with more respect. For instance, marketing graduates from the Arizona State University earn in the $45,000 – 75,000 range for the post of marketing manager whereas those from the University of Michigan tend to draw in the $60,000 – 100,000 range for the same post.
The post of a marketing professional is another factor which determines how much salary will be drawn. As a marketing director, you can earn as much as around 150,000 USD per year while as an e-commerce marketing manager you can be allowed a yearly compensation of around 85,000 USD. You can get an average annual salary of about $51,000 per year as a marketing specialist, while a yearly salary of $33,000 will be a given on an average for the role of a media coordinator.
The salary also differs according to the company you are working in, and its growth prospects. The size and scope, as well as the growth prospects of a company, have a major role in deciding the compensation package drawn by a marketing professional. For instance, the salary for the post of a marketing consultant in Apple Inc will obviously differ from a professional in the same role in Amazon. The salary also differs on the basis of variations in demands and requirements associated with posts across companies.
The location also has an impact on the marketing degree salary, primarily as a result of variations in living expenses across different areas as well as the industry standards in distinct regions. As per a study conducted by The Bureau of Labor Statistics, in states like New York, California, and New Jersey the salary for marketing professionals is the highest in the U.S. In comparison, the annual salary package is lower in areas like Washington D.C., where marketing jobs are the highest in number. The higher number of marketing jobs translates to a lower salary.
The compensation package also differs on the type of marketing specialization that you have. Compensation is more in the mid-tier jobs when you have specialization. The salary is about 5K USD more for a package design manager as compared to what a general brand manager draws. Thus, with a specialization, you can hope to earn more on an annual basis in various marketing posts.