Jobs, Salaries and Career after Masters in Marketing Management - Updated 2020

2018 median Pay for Marketing Management

The median annual wage for advertising and promotions managers was $117,130 in May 2018. The median annual wage for marketing managers was $134,290 in May 2018.


Pay

Additionally, they may travel to meet with clients or media representatives. Work Schedules Most advertising, promotions, and marketing managers work full time. About one-third of advertising and promotions managers worked more than 40 hours per week in 2016.



Best paying jobs for Business Administration and Management -MBA


Number of Jobs for Marketing Management

Number of Jobs in 2018 was 249,600


Education required

Bachelor's degree


Job Outlook for Marketing Management

Overall employment of advertising, promotions, and marketing managers is projected to grow 10 percent from 2016 to 2026, faster than the average for all occupations. Advertising, promotions, and marketing campaigns will continue to be essential for organizations as they seek to maintain and expand their share of the market.


Job description of Marketing Management

Advertising, promotions, and marketing managers plan programs to generate interest in products or services. They work with art directors, advertising sales agents, and financial staff members.

Duties

Advertising, promotions, and marketing managers typically do the following:

  • Work with department heads or staff to discuss topics such as budgets and contracts, marketing plans, and the selection of advertising media
  • Plan promotional campaigns such as contests, coupons, or giveaways
  • Plan advertising campaigns, including which media to advertise in, such as radio, television, print, online media, and billboards
  • Negotiate advertising contracts
  • Evaluate the look and feel of websites used in campaigns or layouts, which are sketches or plans for an advertisement
  • Initiate market research studies and analyze their findings to understand customer and market opportunities for businesses
  • Develop pricing strategies for products or services marketed to the target customers
  • Meet with clients to provide marketing or related advice
  • Direct the hiring of advertising, promotions, and marketing staff and oversee their daily activities

Advertising managers create interest among potential buyers of a product or service. They do this for a department, for an entire organization, or on a project basis (referred to as an account). Advertising managers work in advertising agencies that put together advertising campaigns for clients, in media firms that sell advertising space or time, and in organizations that advertise heavily.

Advertising managers work with sales staff and others to generate ideas for an advertising campaign. They oversee the staff that develops the advertising. They work with the finance department to prepare a budget and cost estimates for the campaign.

Often, advertising managers serve as liaisons between the client and the advertising or promotion agency that develops and places the ads. In larger organizations with extensive advertising departments, different advertising managers may oversee in-house accounts and creative and media services departments.

In addition, some advertising managers specialize in a particular field or type of advertising. For example, media directors determine the way in which an advertising campaign reaches customers. They can use any or all of various media, including radio, television, newspapers, magazines, the Internet, and outdoor signs.

Advertising managers known as account executives manage clients’ accounts, but they are not responsible for developing or supervising the creation or presentation of advertising. That task becomes the work of the creative services department.

Promotions managers direct programs that combine advertising with purchasing incentives to increase sales. Often, the programs use direct mail, inserts in newspapers, Internet advertisements, in-store displays, product endorsements, or special events to target customers. Purchasing incentives may include discounts, samples, gifts, rebates, coupons, sweepstakes, or contests.

Marketing managers estimate the demand for products and services that an organization and its competitors offer. They identify potential markets for the organization’s products.

Marketing managers also develop pricing strategies to help organizations maximize their profits and market share while ensuring that the organizations’ customers are satisfied. They work with sales, public relations, and product development staff.

For example, a marketing manager may monitor trends that indicate the need for a new product or service. Then he or she may assist in the development of that product or service and to create a marketing plan for it.


How to become Marketing Management

A bachelor’s degree is required for most advertising, promotions, and marketing management positions. These managers typically have work experience in advertising, marketing, promotions, or sales.

Education

A bachelor’s degree is required for most advertising, promotions, and marketing management positions. For advertising management positions, some employers prefer a bachelor’s degree in advertising or journalism. A relevant course of study might include classes in marketing, consumer behavior, market research, sales, communication methods and technology, visual arts, art history, and photography.

Most marketing managers need a bachelor’s degree. Courses in business law, management, economics, finance, computer science, mathematics, and statistics are advantageous. For example, courses in computer science are helpful in developing an approach to maximize online traffic, by utilizing online search results, because maximizing such traffic is critical for the success of digital advertisements and promotions. In addition, completing an internship while in school can be useful.

Work Experience in a Related Occupation

Advertising, promotions, and marketing managers typically have work experience in advertising, marketing, promotions, or sales. For example, many managers are former sales representatives; buyers or purchasing agents; or public relations specialists.

Important Qualities

Analytical skills. Advertising, promotions, and marketing managers must be able to analyze industry trends to determine the most promising strategies for their organization.

Communication skills. Managers must be able to communicate effectively with a broad-based team made up of other managers or staff members during the advertising, promotions, and marketing process. They must also be able to communicate persuasively with the public.

Creativity. Advertising, promotions, and marketing managers must be able to generate new and imaginative ideas.

Decisionmaking skills. Managers often must choose between competing advertising and marketing strategies put forward by staff.

Interpersonal skills. Managers must deal with a range of people in different roles, both inside and outside the organization.

Organizational skills. Advertising, promotions, and marketing managers must manage their time and budget efficiently while directing and motivating staff members.


What people in similar profession do

Job Title What they do How to become one
Operations Management and Supervision Computer and information systems managers, often called information technology (IT) managers or IT project managers, plan, coordinate, and direct computer-related activities in an organization. They help determine the information technology goals of an organization and are responsible for implementing computer systems to meet those goals. Typically, a bachelor’s degree in computer or information science, plus related work experience, is required. Many computer and information systems managers also have a graduate degree. Education Computer and information systems managers normally must have a bachelor’s degree in a computer- or information science–related field. These degrees include courses in computer programming, software development, and mathematics.
Non-Profit, Public, Organizational Management Social and community service managers coordinate and supervise social service programs and community organizations. They manage workers who provide social services to the public. Social and community service managers typically need at least a bachelor’s degree and work experience. However, some positions also require a master’s degree. Education Most social and community service manager jobs require a bachelor’s degree in social work, public or business administration, public health, or a related field. However, some positions also require a master’s degree. Work Experience Workers usually need experience in order to become a social and community service manager, and it is essential for those with a bachelor’s degree.
Accounting , Accountancy Accountants and auditors prepare and examine financial records. They ensure that financial records are accurate and that taxes are paid properly and on time. Accountants and auditors assess financial operations and work to help ensure that organizations run efficiently. Most accountants and auditors need at least a bachelor’s degree in accounting or a related field. Certification, including the Certified Public Accountant (CPA) credential, can improve job prospects.   Education Most accountant and auditor positions require at least a bachelor’s degree in accounting or a related field.
Human Resources Management Compensation and benefits managers plan, develop, and oversee programs to compensate employees. Compensation and benefits managers need a combination of education and related work experience. Education Compensation and benefits managers typically need a bachelor’s degree for most positions. Managers usually need a bachelor’s degree in human resources, business administration, business management, finance, or a related field. Work Experience in a Related Occupation Work experience is essential for compensation and benefits managers. Managers often specialize in either compensation or benefits, depending on the type of experience they gain in previous jobs.
Finance Top executives devise strategies and policies to ensure that an organization meets its goals. They plan, direct, and coordinate operational activities of companies and organizations. Although education and training requirements vary widely by position and industry, most top executives have at least a bachelor’s degree and a considerable amount of work experience. Education Many top executives have a bachelor’s or master’s degree in business administration or in an area related to their field of work. Top executives in the public sector often have a degree in business administration, public administration, law, or the liberal arts. Top executives of large corporations often have a master’s degree in business administration (MBA). College presidents and school superintendents are typically required to have a master’s degree, although a doctorate is often preferred. Although many mayors, governors, or other public sector executives have at least a bachelor’s degree, these positions typically do not have any specific education requirements. Work Experience in a Related Occupation Many top executives advance within their own firm, moving up from lower level management occupations or supervisory positions.
Finance and Financial Management Services Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization. Financial managers typically have a bachelor’s degree and 5 years or more of experience in another business or financial occupation, such as an accountant, securities sales agent, or financial analyst. Education A bachelor's degree in finance, accounting, economics, or business administration is often the minimum education needed for financial managers. However, many employers now seek candidates with a master’s degree, preferably in business administration, finance, accounting, or economics. These academic programs help students develop analytical skills and learn financial analysis methods and software. Licenses, Certifications, and Registrations Although professional certification is not required, some financial managers still get it to demonstrate a level of competence.
Management Information Systems Computer and information systems managers, often called information technology (IT) managers or IT project managers, plan, coordinate, and direct computer-related activities in an organization. They help determine the information technology goals of an organization and are responsible for implementing computer systems to meet those goals. Typically, a bachelor’s degree in computer or information science, plus related work experience, is required. Many computer and information systems managers also have a graduate degree. Education Computer and information systems managers normally must have a bachelor’s degree in a computer- or information science–related field. These degrees include courses in computer programming, software development, and mathematics.
Marketing Management Advertising, promotions, and marketing managers plan programs to generate interest in products or services. They work with art directors, sales agents, and financial staff members. A bachelor’s degree is required for most advertising, promotions, and marketing management positions. These managers typically have work experience in advertising, marketing, promotions, or sales. Education A bachelor’s degree is required for most advertising, promotions, and marketing management positions. For advertising management positions, some employers prefer a bachelor’s degree in advertising or journalism.
Taxation Accountants and auditors prepare and examine financial records. They ensure that financial records are accurate and that taxes are paid properly and on time. Accountants and auditors assess financial operations and work to help ensure that organizations run efficiently. Most accountants and auditors need at least a bachelor’s degree in accounting or a related field. Certification, including the Certified Public Accountant (CPA) credential, can improve job prospects.   Education Most accountant and auditor positions require at least a bachelor’s degree in accounting or a related field.

Job Outlook for other majors in Business Administration and Management -MBA

Job Title Number of jobs Median Salary Job outlook
Operations Management and Supervision 367600 $142530 Faster than average
Non-Profit, Public, Organizational Management 147300 $65320 Much faster than average
Accounting , Accountancy 1397700 $70500 Faster than average
Human Resources Management 15800 $121010 As fast as average
Finance 2572000 $104980 As fast as average
Finance and Financial Management Services 580400 $127990 Much faster than average
Management Information Systems 367600 $142530 Faster than average
Taxation 1397700 $70500 Faster than average