postheadericon Two Lucrative Careers For Marketing Majors

Two extremely lucrative career options for individuals who have a traditional or online master’s degree in marketing are marketing managers and sales managers. Here’s what you need to know about both careers to better aid you in your decision making:

According to the U.S. Bureau of Labor Statistics’ Occupational Outlook Handbook, sales managers had a 2010 median pay of $98,530; additionally, marketing managers had a median pay of $112,800. Both careers require a bachelor’s degree, at minimum, as well as years of work experience. Fortunately, there are job opportunities for marketing majors in a plethora of industries: insurance, advertising, public relations, nonprofits, banks, hospitals, retail, and government start the list.

Marketing managers develop sales and promotional strategies for the products and services in the industries previously listed. They work alongside advertising and promotions professionals to help companies maximize their profits by monitoring trends and demand for new products, developing pricing strategies, and figuring out what types of moves their competitors are going to make.

Marketing managers typically have a bachelor’s degree in marketing or business administration; however, some employers may prefer a master’s degree in addition to work experience in marketing, advertising, brand management, or sales. Inclusion in some professional organizations, such as the American Marketing Association, may also increase your chances of landing the dream job you want through its many seminars and online job boards.

Successful marketing managers must have strong communication, leadership, and presentation skills. They must also be business savvy, creative, flexible, able to work under pressure, and goal-oriented.

If you’re interested in a graduate degree, you may earn either a Master of Business Administration with a concentration in marketing or a Master of Science degree in marketing. These degrees can be earned online or traditionally, and they typically take two-to-three years to complete.

Sales managers deal with a wide range of issues: from being a customer service rep resolving customer complaints regarding sales and service, to preparing budgets, analyzing sales statistics, and determining the profitability of products and services. Individuals interested in becoming sales managers should take courses in business law, management, economics, accounting, finance, mathematics, marketing, and statistics. The salary sales managers earn is affected heavily by commission. Some organizations are 100 percent commission-based, while others offer a base salary in addition to the commission.

Sales managers must be able to communicate effectively because they must build and maintain relationships with sales representatives, other managers, dealers, and distributors. In many instances, sales managers were once sales reps. Depending on the organization, it may be beneficial to have more years work experience as a sales rep than to go back to school to earn a graduate degree. However, for those determined to earn a master’s degree, consider an online master’s program. Most sales managers work long hours, including evenings and weekends, so earning a master’s in marketing online would best suit that work schedule.

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