Do marketing managers make a lot of money?
Here are answers from marketing managers on the question, “Do marketing managers make a lot of money?”
- Above Average
- Yes, but It Depends On How Effective They Are
- Depends Where and On Level of Seniority
- Marketing Managers Earn a Median Salary of $135,030/Yr
- There’s No Straight Answer
- They Don’t, but the Opportunities Are Vast
- Not the Highest-paid Job
According to research by Salary.com, marketing managers nationwide have a median salary of $114,269. The range is $87,473 to $146,522. Geographic areas with higher costs of living pay even more.
So yes, marketing managers earn more than the nationwide average salary. Even more importantly, the barrier to entry in this profession is fairly low. Marketing managers can get a start in the industry with just a few online courses. In some cases, a four-year degree is not required.
Depends Where and On Level of Seniority
Marketing manager is one of those positions that can be extremely senior or extremely junior – I’ve seen someone making around $50K with barely any experience in the industry and I’ve also seen someone around for 15 years and making well over $100K, both having the title.
The title just isn’t going to mean the same thing in every company, as marketing tends to be treated extremely differently from place to place. In some companies, it is an afterthought with barely any resources or high-level leadership buy-in, and in others, it is treated as a core part of the engine that drives sales and growth.
You are realistically going to need to do your own research as to which sort of marketing manager role you’re looking at.
Marketing Managers Earn a Median Salary of $135,030/Yr
Yes, marketing managers can make a significant amount of money. According to data from the Bureau of Labor Statistics, the median annual salary for marketing managers in the United States is around $135,030. However, the salary can vary depending on factors such as the company, industry, and location. Additionally, many marketing managers also receive bonuses, commissions, and other forms of compensation, which can further boost their earning potential.
There’s No Straight Answer
Sure, marketing managers can definitely make a lot of money, but there are many factors to consider before landing on a blanket answer.
The level of a marketing manager means something different to each company. For a large corporation, they may have a dozen marketing managers at the mid-career level. A startup’s marketing manager may be the head of the entire department.
Company size, revenue, location and industry all matter significantly when determining how much a marketing manager will make.
They Don’t, but the Opportunities Are Vast
My first job out of college was similar to that of a marketing manager. I made around $40k per year. Not bad, but not enough to feed a family of three.
But the opportunities are endless. Once you get a basic understanding of marketing (2-3 years), you can specialize in an industry (e.g., software) or a channel (e.g., events) and double or triple your starting salary within a few more years.
As long as you stay focused on delivering what your company wants – usually increasing revenue – marketing managers can grow into highly-paid experts that make north of $150k per year.
Not the Highest-paid Job
The amount of money marketing managers make depends on their experience, the industry they work in, the size of the company they work for, and the region where they are employed. Generally, marketing managers can make a very good salary, but it is not necessarily the highest-paid job.
According to the U.S. Bureau of Labor Statistics, the median annual wage for marketing managers was $122,118 in December 2020. This means that half of all marketing managers earned more than $122,118, and the other half earned less.
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