Look behind any type of successful business, whether it’s a multinational Fortune 500 company or a stall at the local farmer’s market, and chances are they all have a strategy. marketing to reach their customers. Marketing is how you can spread the word and let potential customers know about your product, service, or idea. This may include planning and overseeing a marketing campaign, measuring industry trends to determine what the demand for new and existing products might be, and determining pricing strategies that meet customer expectations. People responsible for creating a marketing strategy for a company, brand or product are called marketing managers.
According to the Bureau of Labor Statistics, there were currently 278,690 marketing executives employed in the United States as of May 2021. This means that for every 1,000 jobs, approximately 0.01% of them are marketing executives, making the very competitive field. Marketing executives earn an average salary of $153,440 per year, significantly higher than the national average salary for all occupations, which is $58,260. Additionally, the BLS expects the field to grow by 10% over the next decade (which is about average), which means high-paying positions will open up over the next few years.
Marketing managers work in many different fields. The BLS reports that the highest concentration of jobs is in information services, advertising and public relations, and software publishing. Some of the highest paying industries for marketing managers include oil and gas extraction (which has an average annual salary of $212,080) and scientific research and development (which has an average annual salary of $193,290). $).
So what does it take to become a successful marketing manager? In addition to top-notch communication skills, marketers often need a strong understanding of sales and promotion as well as strong data analysis skills. The marketing industry has transformed over the past two decades as customers and storytelling have moved online. It can therefore also be essential to understand the digital tools that monitor website visits, customer engagement and other online behavioral data in real time. Marketing managers are often tasked with measuring sales performance using Google Analytics and customer data, and developing a marketing plan if the numbers drop. They can also track lead generation from email or ad promotions, measure customer conversions, create blog posts, monitor engagement numbers on social media posts, and more.
With an above-average salary and a growing industry, making a career move to marketing management has its perks. But where should you look for these jobs? Planoly ranked the top 25 states where marketing executives are the highest paid based on median salary data from the Bureau of Labor Statistics (BLS). This dataset also includes a comparison of the median marketing executive salary with the state median salary for all jobs and the number of marketing executives per 1,000 jobs in each state.
Read on to find out where the highest paying marketing management positions are.