Marketing Managers: Salary Overview
Marketing managers design programs and strategies that aim to generate interest in products or services.
They identify markets for the organization’s products or services and estimate the demand for the products and services.
Marketing managers usually work with public relations, sales, and product development staff.
According to the Bureau of Labor Statistics, the median annual wage for marketing managers in the United States was $136,850 as of May 2019, which means that half of all workers in this profession earned less than this amount while half earned more.
Salaries vary widely depending on a variety of factors, including the experience level, the size of the company, the region of employment, and the local economy.
BLS estimates that the lowest 10 percent of marketing managers earn less than $71,010 while the top 10 percent make more than $208,000 per year.
Marketing Manager Salary by Industry
According to the Bureau of Labor Statistics, marketing managers held approximately 259,200 jobs in the United States in 2018, most of them working in the field of professional, scientific, and technical services, in management of companies and enterprises, and in finance and insurance.
The industry of employment is one of the factors that play an important role in determining the marketing manager’s salary.
According to the Bureau of Labor Statistics, the average annual wage reported by marketing managers who worked for companies that provide management services to other companies and enterprises was $157,750 as of May 2019.
Marketing managers who worked in the field of computer systems design and related services reportedly earned $162,810 a year, on average.
The average annual wage was $147,000 for marketing managers who worked in the field of management, public relations, and technical consulting services and $153,910 for those who worked in advertising, public relations, and related services.
Marketing managers who worked for companies that provide credit intermediation and related activities reportedly earned $150,160, on average.
According to the report published by BLS, the highest-paying field for marketing managers was the sector of cable and other subscription programming.
This field employed only a few marketing managers but paid them, on average, with $190,730 a year.
A close second is the industry of oil and gas extraction- where the average annual wage reported by marketing managers was $190,070.
Other fields where marketing managers reported higher wages are the field of scientific research and development services, the motion picture and video industries, and aerospace products and parts manufacturers.
There are many other factors that determine how much a marketing manager makes and experience and education are very important for this profession.
Most marketing managers held at least a bachelor’s degree in finance or a related field.
Having solid skills in business law, management, economics, finance, mathematics, statistics, or computer science can improve your employment prospects and earning opportunities.
Being an expert in social media and knowing how to design and analyze a digital advertising campaign and how to use digital tools in order to understand the target market will make you an important asset to any company.
You will also need related work experience before being promoted to a marketing manager position.
Having some years of experience with good results as a sales representative, buyers or purchasing agent, or as a public relations specialist will give you better chances of being promoted and will also help you earn a higher salary.
Salaries for marketing managers also vary based on the region and the state of employment.
According to the report published by BLS, the top-paying state for this profession was New York- with an average annual wage of $186,350.
Other states where marketing managers reportedly earned more than $170,000 a year on average were New Jersey, Virginia, and Colorado.
On the opposite end of the spectrum, we have Mississippi, Louisiana, and New Mexico, where the average annual wage reported by marketing managers was below the $100,000 mark.
However, this profession is usually well-paid but it requires a special set of skills and years of experience in a related position.
* Based on information from the May 2019 salary report from the BLS. The figures represent accumulated data for all states of employment for Marketing Managers. BLS data represents averages and medians for workers at all levels of education and experience. This data doesn't represent starting salaries.
* Employment conditions in your area may vary.