This post was originally published on April 15, 2022 and updated on May 10, 2024.
Information for this blog post was obtained from Courseara, HubSpot, and All Business School.
Entering the marketing field presents an exciting array of opportunities for newcomers, with numerous career paths to explore. One of the most common questions for those considering a career in marketing is, "What will my annual salary look like?" It's a valid concern, considering the diversity of roles within marketing and the range of industries that employ marketing professionals. Let's delve into various marketing careers and provide insights into the potential salary ranges you can expect.
Let's talk about what a base salary is. Jay Fuchs from HubSpot defines base salary as, " A base salary is the amount of pay that you are guaranteed to make per year. Your base pay depends on a number of factors, such as work location, job title, and experience. It’s also something that you can negotiate with your employer if their offer doesn’t fit your desired pay." When making an agreement on your base salary with your employer, this comes with great benefits that most hourly rate employees won't have. Your salary will make you feel more secure with your income and be helpful in money management.
How it Works
The minimal amount you will be paid in exchange for your labor is your basic wage. It can be represented as an hourly rate, a weekly, monthly, or yearly compensation, or as a combination of the two. Because this is computed before taxes, perks, or other deductions, the agreed-upon rate may differ from what you actually get. Keep this in mind while deciding on a starting wage and a commission rate.
Benefits are a significant part of your total compensation package, adding value beyond your base salary. Let's explore the benefits of each component:
Perks
In addition to your salary, many companies offer perks as part of your compensation package. These perks can include various incentives such as vacation vouchers, discounted items or services, and opportunities for remote workdays. Some companies may provide additional benefits like free daycare vouchers, daily lunches, or gym memberships.
Insurance
Another important aspect of your compensation package is insurance coverage. This includes medical, dental, and/or vision insurance. Insurance benefits can be provided through a job-based health plan or through a health savings account, ensuring you have access to healthcare services when needed.
Time Off
Time off benefits are crucial for maintaining work-life balance. Depending on your employment agreement, you may be entitled to a set number of paid sick days or vacation days each year. Additionally, companies often recognize paid holidays, allowing you to take time off on specific days without losing pay.
Base Pay
Base pay is the agreed-upon amount that your company pays you for your work. This can be in the form of a salary or an hourly wage. Several factors influence your base pay, including your industry, how competitors compensate employees in similar roles, your location, the size of your team, and your level of experience. Base pay forms the foundation of your compensation package and is often supplemented by other benefits and bonuses.
Average Salaries in Marketing
After seeing all the benefits, a salary will guarantee an employee there is still the question of how much one can make in the world of marketing. The average salary does change in different types of marketing jobs.
We have found this information on average median salaries from the All Business Schools. Take a look at some of the salaries for popular careers in marketing:
Marketing Career Median Annual Salaries
Marketing Specialist: $74,680
Market Research Analyst: $74,680
Advertising Manager: $131,870
Public Relations Manager: $134,760
Marketing Manager: $157,620
This source is a great insight into giving a new marketing employee an idea of what their pay would look like. After going over what base pay is and average salaries for a variety of marketing jobs, we know this will give new marketers a good perspective on what their future could look like in marketing.
Entry-level Marketing Jobs
Entry-level marketing positions usually demand a bachelor’s degree in a related field such as marketing, communications, or business, along with one to three years of experience, which can include internships or part-time roles. Typical salaries for such roles include (Coursera Staff, 2024):
Event marketing assistant: $37,225
Marketing Assistant: $43,817
Social media coordinator: $43,749
Product marketing assistant: $43,817
REad more about how to become a social media marketer from L'Oreal with her blog post here.
Resources
Coursera Staff. (2024, January 5). What salaries can you earn with a marketing degree?. Coursera. https://www.coursera.org/articles/marketing-degree-salary
Fuchs, Jay. “What Does Base Salary Mean?” HubSpot Blog, 11 Mar. 2022, https://blog.hubspot.com/sales/what-does-base-salary-mean
“Marketing Salary: What You'll Earn.” All Business School, 10 May 2024, https://www.allbusinessschools.com/marketing/salary/
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