Earning a degree in marketing and advertising will give you a broad set of skills that can be applied to many marketing, public relations and communications fields. You will be well positioned to earn a good salary for years to come in a growing industry.
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To get a better handle on what your salary will be with a degree in marketing and advertising, you should study the following factors:
- Whether you earn a bachelor’s or master’s degree
- The type of career you choose
- How many years of work experience you have
- Geographic location
After you have all of this information, you will have a better idea of the salary you can earn with a marketing and advertising degree.
Level of Marketing and Advertising Degree
Ample research has been performed over the years about the higher salary that you can earn with a master’s degree. The Bureau of Labor Statistics or BLS reports that the median salary for someone with a bachelor’s degree is $56,000 while it is $68,000 with a master’s. This is a difference overall of $12,000, which can add up to a lot of money over the years.
BLS also reports that several occupations related to marketing and advertising have higher salaries associated with earning a master’s degree. For example, a marketing and sales manager earns a median salary of $80,000 with a bachelor’s degree, and $110,000 with a master’s degree, for a premium of $30,000. A market research analyst and marketing specialist earns a median salary of $65,000 with a bachelor’s degree and $90,000 with a master’s, for a $25,000 premium.
Also, Payscale.com reports the following salaries in the marketing field with a bachelor’s degree:
- Marketing manager: $67,400
- Marketing director: $89,900
- Account executive: $48,600
- Account director: $91,299
- Sales manager: $82,200
Payscale.com reports the following salaries with a master’s degree in marketing and/or an MBA in marketing:
- Marketing manager: $72,300
- Marketing director: $102,200
- VP of marketing: $167,000
- Senior marketing manager: $115,000
- Product marketing manager: $97,100
Type of Marketing Advertising Career
A big factor in your career in marketing and advertising is the type of career that you choose. Below are some of the common common job choices for people with a marketing and advertising degree:
Advertising, Promotions and Marketing Manager
These marketing professionals are responsible for planning programs to generate more interest in products and services. These roles are becoming more important as the world marketing is getting more competitive, and so much of company revenues come from effective online and print marketing and advertising.
BLS reports the median salary for advertising and promotions managers was $106,100 in 2017, with the top 10% earning more than $200,000 per year. The salaries broke down as follows in these industries:
- Advertising, public relations, and related services: $123,600
- Management of companies and enterprises: $109,500
- Information: $94,300
- Wholesale trade: $93,500
The median wage for marketing managers broke down as follows:
- Professional, scientific and technical services: $141,900
- Management of companies and enterprises: $140,300
- Finance and insurance: $139,100
- Manufacturing: $135,000
- Wholesale trade: $125,000
Public Relations and Fundraising Manager
A public relations manager is responsible for planning and directing creations of materials that maintain or enhance the public image of the client or employer. Fundraising managers are responsible for coordinating campaigns that bring in money for their organization. Professionals with marketing and advertising degrees often have the advanced public relations skills needed to succeed and thrive in these important jobs.
BLS reports the median salary for public relations and fundraising managers in 2017 was $111,200, with the top 10% earning more than $200,000 per year. Salaries in each industry were as follows:
- Professional, scientific and technical services: $134,500
- Management of companies and enterprises: $127,200
- Religious, grantmaking and similar organizations: $105,200
- Educational services: $101,700
Public Relations Specialist
A public relations specialist is in charge of creating and maintaining a favorable public impression for the company or organization they represent. Public relations specialists are tasked with created media news releases and developing innovative social media programs to enhance public perception of the organization and to increase awareness of the organization’s goals and work.
BLS reports the median salary for public relations specialists was $59,300 in 2017, with the top 10% earning more than $112,000 per year. Salaries in various industries were as follows:
- Government: $63,500
- Advertising, public relations and related services: $62,500
- Business, professional, labor and similar organizations: $61,700
- Educational services: $54,600
Work Experience
Whatever field you work in, you will generally make higher compensation with more work experience. This is also the case in marketing and advertising.
For example, Payscale.com reports the median salary for marketing managers is $62,500, but this will vary widely by years of experience. An entry level manager with less than five years of experience will earn a salary of $54,000, while a marketing manager with five to 10 years of experience will earn $67,000. Meanwhile, a more experienced marketing manager with 10 to 20 years of experience will earn $74,000, and a manager with more than 20 years of experience will earn $79,000 per year.
Payscale.com also reports the median salary for an advertising manager is $58,500, but the salary will vary based upon experience, as well, but not as much as a marketing manager:
- With less than five years of experience, you will earn a salary of $50,000.
- With five to 10 years of experience, you will earn a salary of $63,000.
- With 10 to 20 years of experience, you will earn a salary of $64,000.
- With more than 20 years of experience, you will earn a salary of $65,000.
Geographic Location
Where you work in advertising and marketing also affects your salary level. Payscale.com states that the national average for marketing managers is $63,500, but this salary will vary widely by city:
- San Francisco: +34%
- New York City: +15%
- Minneapolis: +15%
- Seattle: +12%
- Boston: +11%
- Houston: +11%
- Atlanta: +10%
- Miami: -1%
- Denver: -2%
- San Diego: -2%
Outlook for Marketing and Advertising
According to recent reports, most marketing and advertising executives in the US expect firms to maintain current staff levels in 2018 in the first half of the year. For those who plan to hire in the second half of the year, approximately 25% are planning to hire content marketing staff, 23% plan to hire brand and product marketing staff, while 22% intend to hire digital marketing professionals.
With a marketing and advertising degree, you can enjoy many job opportunities and a solid salary. Now that you understand the different factors that can affect your wages, hopefully you can make the right educational and career decisions.
References
- Should I Get a Master’s Degree? (2016). Retrieved from https://www.bls.gov/careeroutlook/2015/article/should-i-get-a-masters-degree.htm
- The 2018 Hiring Outlook for Marketing and Advertising Jobs. (2018). Retrieved from https://www.marketingprofs.com/charts/2017/33310/the-2018-hiring-outlook-for-marketing-and-advertising-jobs
