Pros and Cons of Becoming a Marketing Executive
Marketing executives, who are higher-level marketing managers, collaborate with art directors, financial experts and sales agents to recognize market trends, develop new products and generate revenue for organizations. Check out the following pros and cons to decide if a career as a marketing executive is right for you.
| Pros of a Marketing Executive Career |
|---|
| Pay is competitive (median wage for marketing managers was $127,130 in May 2014)* |
| Bachelor's degree is the entry-level requirement* |
| Greater job security than other types of managers* |
| Opportunity for travel* |
| Cons of a Marketing Executive Career |
|---|
| Stressful work environment* |
| Extended work hours are often required* |
| Usually need 1-5 years of work experience to apply for positions* |
| Strong competition for jobs* |
Source: *U.S. Bureau of Labor Statistics.
Essential Career Info
Job Description and Duties
A marketing executive must determine the demand for products by identifying potentially successful markets. A main task for this professional is to develop a pricing strategy by collaborating with the staff of the departments that deal with sales, public relations and product development. In addition, marketing executives and managers must also monitor trends in order to develop new products before the competition.
These professionals usually work in offices, although traveling to meet clients is common. Typical duties involve developing successful programs to generate interest in specific products or services. In addition, the job of a marketing executive can be stressful, especially with impending deadlines. According to the U.S. Bureau of Labor Statistics (BLS), most marketing managers worked full time in 2010, and roughly 19% of advertising and marketing managers logged more than 50 hours of work per week (www.bls.gov).
Salary and Job Prospects
According to the BLS, marketing managers earned a median annual salary of roughly $127,130 as of May 2014. The middle half of managers made about $91,000-$171,000 during the same time. The BLS predicted that employment of these professionals would increase by 12% from 2012-2022, which was average growth.
There should be a consistent need for marketing expertise among organizations looking to win over more of their target market. As a result, marketing managers play an important role in revenue generation for an organization and may enjoy more job security than other types of managers. Still, there can be heavy competition for jobs. As Internet advertising gains prominence, the best job prospects were expected to come to those who hold experience with digital media platforms and advertising campaigns.
Career Requirements
Needed Education and Experience
You typically need at least a bachelor's degree to become a marketing executive. Suggested areas of study include business, finance, advertising and marketing. Courses in market research, communication, journalism, management and economics can be beneficial. In addition, you can improve your job prospects by completing an internship before graduation. Work experience is vital, and in order to become an executive, you may need to gain several years of experience as a sales representative, public relations specialist or purchasing agent.
What Do Employers Expect?
Creativity, as well as strong analytical and decision-making skills, is necessary to succeed in this profession. In addition, advertisements for marketing executives preferred candidates with strong interpersonal skills, an ability to negotiate, good organizational skills and a collaborative mentality. Here are examples of what real employers looked for in April 2012.
- A laboratory corporation in Memphis, TN, advertised for a senior marketing executive with a bachelor's degree and 3-5 years of outside sales experience. Duties included providing ongoing customer service within a specific geographic territory.
- A large, regional insurance company based in the San Francisco Bay Area sought a marketing executive with a minimum of ten years of marketing experience. This company also required candidates to possess a current insurance license.
- A litigation firm looked for candidates who could fill an executive marketing management position in their Miami, FL, office. Candidates needed a bachelor's degree that focused on marketing, with a suggested two years of work experience. The employer also wanted an individual with proficiency in Microsoft Office Suites in order to assist the marketing department with essential functions.
How Can I Stand Out?
If you wish to advance as a marketing executive, you may want to complete a certification course in marketing management. For instance, Sales & Marketing Executives International (SMEI) offers a Certified Marketing Executive (CME) program (www.smei.org). Core topics covered include the foundations of marketing management, professional communication, marketing strategies and the role of ethics.
To set yourself apart in the work field and gain an executive position, you may want to earn an advanced degree, such as a Master of Business Administration (MBA) with a concentration in marketing. Courses can cover multiple subjects, such as the principles of Internet marketing, consumer behavior, Internet marketing strategies and media planning. In fact, the more you know about online marketing tactics, the more advantages you should have in the workplace, since the Internet continues to dominate the world of advertising, reported the BLS.
Alternative Career Paths
Art Director
Roughly 12% of art directors worked in advertising as of 2010, according to the BLS, which makes this career path a logical alternative to a career as a marketing executive. This job is best suited for someone who has an interest in visual style and artwork. In fact, art directors are responsible for the overall design of many images found in newspapers and magazines, as well as the styles of television productions and films. A bachelor's degree in art or design is a common prerequisite. Employment in this field was predicted to grow at a slower-than-average pace of nine percent from 2010-2020, according to the BLS. As of May 2011, the median annual wage for art directors was around $81,000.
Advertising Sales Agent
If you excel in communicating with others and making sales, then you may wish to consider a career as an advertising sales agent. Professionals must contact potential clients on a daily basis in order to sell advertising space. There are pressures to meet sales quotas, but the decline in print media advertising should be offset by the increase in advertising now done online. The minimum education required is a high school diploma, and employment was expected to grow about as fast as average (13%) from 2010-2020. According to the BLS, the median salary of an advertising sales agent in May 2011 was just over $45,000 annually.
Market Research Analyst
Market analysts determine potential sales for a product or service by evaluating various market conditions. You might work in several different industries with numerous job duties, such as gathering information on products that the public wants, analyzing the market data to determine how best to target potential customers or preparing reports that can explain marketing plans to employers. A bachelor's degree is usually required to work as a market research analyst, and employment was expected to greatly increase by 41% from 2010-2020, according to the BLS. As of May 2011, the median annual wage for these professionals was roughly $60,000.
