Marketing degrees are highly in demand these days. With the right one under your belt, you can make as high as $25,000 for a job of entry-level variety and $100,000 or even more as a manager in the marketing domain. A marketing degree salary tends to differ on a number of factors. If you’re interested in entering the marketing world and applying for a job you need to become aware of the following factors:
Type of Institution
One of the most deciding factors is the type of institution that you earn your degree from. Although marketing degrees of all types from recognized schools and universities are regarded as legitimate in the industry, some marketing programs and schools are more reputed than the others and may help you earn higher wages when you graduate. As Pay Scale mentions, for the position of marketing manager, University of Michigan graduates can earn between $62,571 and $98,362 every year. However, those who graduate from the Arizona State University can get a salary within the range of $45,096 – $72,908 each year for the same position type.
The differences in a marketing degree salary can depend on the type of specialty that a graduate has. There is a substantial variation in salaries within marketing jobs. It is especially at the mid-level jobs that salaries tend to be higher with specialization. A package design manager may earn around $5,000 more than a general brand manager, even thought the package design has part of the duties of a brand manager.
The level and type of position in a marketing field is possibly the biggest factor when it comes to establishing salaries. On the website of All Business Schools, a published study showed that media coordinators are at the bottom of the heap with an average annual payment of $32,639. Marketing specialists receive much more by earning on an average around $51,179 each year. E-commerce marketing managers can hope to earn about $83,247 every year. Marketing director positions are at the crest of the heap and people in these jobs can hope to get $143,839 each year.
The salaries for marketing degree holders tend to be influenced by the location, this is mainly due to product demands and differences in living costs. The Bureau of Labor Statistics mentions that California, New Jersey and New York are the top states when it comes to the highest salaries for marketing jobs. New York is at the top, with marketing directors earning a mean salary of $72.18 per hour. The pay package in New Jersey comes up close with employees getting $67.93 per hour. Marketers earn $65.86 per hour in California, making it the 3rd highest salary in the U.S for marketing professionals. The annual pay package is much less in Washington D.C., even thought it has the highest number of marketing positions.