Now you’re probably wondering what is the salary in the marketing industry, what essential student skills you should possess in order to apply or if is there a different median annual range for public relations professionals. Well, stick along until the end as we touch on these important aspects of salary in marketing, especially when it comes to college students.
Median annual salary
Marketing professionals get an average salary of at least $135,000 with other additional working benefits. Experts in managerial roles get $15 extra of this median annual salary estimate as wages. Students looking to pivot their educational journey in the line of marketing would be securing a financially stable future for themselves. According to a report from the Bureau of Labor Statistics (BLS), the average marketing manager gets $150,000 annually.
Depending on the median annual salaries by state, this figure would vary between a few thousand. BLS also projects a potential job spike in the marketing sector as new college students discover the financial-liberating opportunity. There are also great self-employment opportunities for scholars that’d love to own their firms in the future. It’s a big industry, and getting high-paying clients wouldn’t be that much of a struggle.
Pay determination guidelines
Most states take the minimum wage law seriously and have grievous penalties for defaulters. As a student pursuing a career in advertising, you should study these essays about minimum wage to avoid being the victim of corrupted work modules. Learn both arguments about minimum wages to fully understand how they affect your next salary. Good knowledge of minimum wage for marketing jobs would help you with job offers.
Like in other lucrative careers, experience and educational background play a large role in the advertising salary range. Experts in executive roles have extended certifications that show the level of education and experience they have in the business. Of course, the pay of an executive director would vary from a year-two intern at an advertising firm. Lastly, some companies pay wages while others give their staff salaries with additional incentives.
Overtime pay
Students looking to get marketing jobs would be getting lots of overtime openings at their workplaces. This job involves lots of paperwork, which would require more working hours for students that need extra pay. Companies that take on multiple clients per time often get swamped with a ton of workload annually. Marketing managers assign tasks to student interns with the consolation of overtime pay for the additional hours invested into the job.
Every student intern is entitled to the minimum wage rate for overtime hours. The overtime pay system works for full-time employees, like for student interns at advertising firms. Aside from the additional pay for overtime hours, students can easily get a great deal of experience working extra hours. It might get a bit stressful while on the job, but the level of experience and pay compensate for your devotion.
Pitfalls to avoid
Being new to marketing jobs or internships, we’ve seen many students take pitfalls in their careers before they begin. To avoid these common mistakes in the future, aspiring marketing students need to learn about the pitfalls to avoid. First, never sign an advertising work contract without reviewing and understanding the contractual terms. This has caused marketing interns to work additional hours without pay because they agreed to the terms.
Secondly, be a team member while on the job. Like every financially liberating job, you must be a team member to walk your way up the ladder. Volunteer to be a mentee under one of the marketing managers or a competent supervisor in your company. This gives you an edge over other student interns in the same organization. Most marketing managers had to make it to the top without any aid. Here’s a great chance to path yourself on a hitch-free road to the top.
Job outlook for marketing
From the last job growth estimation by BLS, employment in the advertising sector is set to increase %15 between 2022 and 2032. Ideally, this employment rate is faster than the national median range in other sectors. With the vast majority of advertising done online today, there’s an increasing need for more advisement deals across all levels of business. We expect more digital marketers than print-on-demand advertisers in the coming years.
From the report, the growth of the projected job outlook for marketing is estimated to be a 10% increase for marketing managers and 8% for public relations managers. Other marketing careers like public relations specialists would get an 8% increase in job growth and a 19% increase for market research analysts. This report shows that many marketing jobs that involve reaching out to customers online would pay more.
Conclusion
As a student, you can intern with a reputable advertising firm to get enough experience on the rudiments of the job. With additional certifications and years of experience, you can secure yourself a managerial role in advertising. College students get fair minimum wages when interning with marketing firms.
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- Implement a CRM strategy for your business using this guide.
- The best apps for entrepreneurs that will help you achieve your goals.
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