Marketing Managers: Salary, Job Description, How To Become One, and Quiz

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Job description

Marketing Managers plan, direct, or coordinate marketing policies and programs, such as determining the demand for products and services offered by a firm and its competitors, and identify potential customers. Develop pricing strategies with the goal of maximizing the firm’s profits or share of the market while ensuring the firm’s customers are satisfied. Oversee product development or monitor trends that indicate the need for new products and services.

  • Identify, develop, or evaluate marketing strategy, based on knowledge of establishment objectives, market characteristics, and cost and markup factors.
  • Formulate, direct, or coordinate marketing activities or policies to promote products or services, working with advertising or promotion managers.
  • Evaluate the financial aspects of product development, such as budgets, expenditures, research and development appropriations, or return-on-investment and profit-loss projections.
  • Develop pricing strategies, balancing firm objectives and customer satisfaction.
Read more about what does a Marketing Manager really do at work and what is it like being and working as one.



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Salary

Average salary
$147240 per year

Average hourly wage
$71 per hour


Marketing Managers with little to no experience tend to make between $69840 and $95770 while the more experienced ones can earn over $181780 per year.

Top 5 paying statesHourlyAnnual
NY$90$187,860
NJ$85$177,330
VA$83$171,870
CO$82$169,630
CA$81$167,910

One of the easiest ways to increase your salary as a Marketing Manager is to move to a higher paying state like NY. Right now, the highest paying states for Marketing Managers are NY, NJ, VA, CO and CA.

However, a higher pay at NY doesn’t guarantee that you will make more because the living expenses at NY might be twice as high than where you are currently at now.

Three other factors that can increase your salary as a Marketing Manager is the degree you hold, the industry you work in, and lastly the company you work for.


Requirements

Recommended degree level
Bachelor’s Degree

We asked other Marketing Managers what degree they had when they got the job and most of them said they had a Bachelor’s Degree followed by a Master’s Degree.

Other than that, we also asked them what did they major in and here are the most popular majors that came up.

Consumer Merchandising/Retailing Management
Apparel and Textile Marketing Management
Pharmaceutical Marketing and Management
Marketing/Marketing Management, General
Marketing Research
Read more about how to become a Marketing Manager and the degree, training and education you need.

Pros and Cons

Here are some of the pros and cons of being a Marketing Manager.

PROS
Suitable for people who likes to start and carry out projects
Suitable for people who wants job security and a good working condition
This career is perfect for people who love to work indoors.
One of the highest paid careers in the world
CONS
Not suitable for people who likes practical and hands-on work
It is hard to get into this career. A considerable amount of work-related skill, knowledge, or experience is required for this career.
Long working hours (More than 40 hours per week)

What is the job like

Job satisfaction
70%

Is this job meaningful
44%


70% of Marketing Managers said they were satisfied with their job and 44% said they feel like their job is making other people’s lives better.


Is this right for me

Best personality for this career
The Entrepreneurs and The Organizers

You can read more about these career personality types here.

People who are suitable for this job tends to like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk taking and often deal with business..

They also like following set procedures and routines. They like working with data and details more than with ideas.




Learn more about Marketing Managers

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Related career information

Marketing Managers job description, Marketing Managers salary, Marketing Managers information, what is the job of a Marketing Manager like, pros and cons about Marketing Managers, colleges and universities for Marketing Managers, is Marketing Managers the right career for me, careers in Management

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