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A Look at Marketing Salaries in Missouri


Marketing manager positions are in demand. Take a look at the U.S. News & World Report 2017 "Best Jobs" ranking. "Marketing Manager" ranks among the top 100 best jobs. This career also nabbed the #14 spot in Best Paying Jobs (ahead of lawyers!). And it came in first in the Best Sales & Marketing Jobs category.

Job seekers who are looking for a competitive edge may want to consider a specialized MBA. According to a Graduate Management Admission Council (GMAC) 2017 Corporate Recruiters Survey, specialized MBA graduates tend to earn higher starting salaries than general MBA graduates.

Northwest Missouri State University offers an online Master of Business Administration (MBA) with a specialization in marketing that students can complete in just 12 to 18 months. This program targets strategic and global marketing, business decision analysis and financial management. An emphasis on real-world applications prepares students for success as they set out to advance their careers.

What Salaries Are Marketing Managers Earning?

When it comes to employment, salary may not be the only consideration. But it is among factors that typically matter most to job seekers.

The U.S. Bureau of Labor Statistics (BLS) reports that salaries for management occupations are the highest of all major occupational groups. Within this category, marketing managers earn a median annual wage of $129,380. This is about 26 percent higher than the median annual wage of $102,590 for management occupations overall.

Marketing managers who work in securities and commodities enjoy even higher salaries, with a median annual wage of $215,540.

According to the BLS, marketing managers:

  • Plan, direct or coordinate marketing activities, including identifying potential customers.
  • Develop pricing strategies.
  • Oversee product development.
  • Monitor trends when developing new products and services.

Marketing managers who want to advance their careers can move into upper-level management roles. This often comes with an increase in salary. Based on PayScale data as of June 2018, here is a look at salary ranges for some of those positions.

  • Marketing Director: $44,595 - $147,804
  • VP, Marketing: $82,700 - $198,821
  • Senior VP, Marketing: $104,306 - $254,322
  • VP, Sales & Marketing: $73,498 - $191,385
  • VP, Business Development: $71,628 - $201,947
  • Chief Marketing Officer: $83,108 - $256,158

How Do Marketing Salaries in Missouri Compare?

Salaries vary by geographic location, among other factors. Graduates of Northwest's MBA program will find that salaries for marketing managers in Missouri top those in surrounding areas.

State Mean Hourly Wage Mean Annual Wage
Missouri $65.43 $136,100
Arkansas $70.85 $147,370
Kansas $64.33 $133,820
Illinois $58.77 $122,260
Iowa $51.84 $107,830
Nebraska $48.54 $100,970
Oklahoma $50.52 $105,080
Tennessee $53.81 $111,940

Source: U.S. Bureau of Labor Statistics, May 2017 profiles.

As with other states, salaries within Missouri may vary from one location to another. A sampling of salaries in various cities across Missouri follows.

City Mean Hourly Wage Mean Annual Wage
Columbia, MO $48.76 $101,430
Springfield, MO $56.83 $118,210
Joplin, MO $63.15 $131,360
Kansas City, MO-KS $66.26 $137,820
St. Louis, MO-IL $66.17 $137,640
St. Joseph, MO-KS $73.74 $153,380
Fayetteville-Springdale-Rogers, AR-MO $77.33 $160,840

Source: U.S. Bureau of Labor Statistics, May 2017 profiles.

What Role Does Education Play in Career Advancement and Salaries?

Will an MBA in marketing translate to a competitive edge? Can it lead to higher starting salaries and career satisfaction? The GMAC Corporate Recruiters Survey found that a quarter of employers will pay a salary premium for graduates with specialized MBA degrees in 2017.

In other supporting evidence, a GMAC 2017 Alumni Perspectives Survey found that:

  • 95 percent of alumni rated their degree as a good to outstanding value.
  • 86 percent found that their education prepared them for leadership positions.
  • 82 percent agreed their degree increased their earning power.
  • 93 percent found their degree personally rewarding.

In addition, the Financial Times reports a pattern of salary increases across age groups:

  • MBA alumni who were 24 or under when they started their MBA reported salary increases of 145 percent.
  • MBA alumni who were 27 and 28 when they started their MBA doubled their pre-MBA pay.
  • Students who were 31 or older gained a 70 percent salary increase over their pre-degree salaries.

With a strong job outlook and high salaries, it is no surprise that marketing manager positions are highly desirable. It is also why marketing manager positions may be sought after by marketing professionals. An MBA may give job candidates an edge. Still, some may wonder: Is the expense of an MBA worth the cost?

In "The Value of B-School," BizEd Magazine takes a look at the return on investment (ROI) of an MBA. Students graduating from traditional full-time, two-year programs should plan on 3.5 years to recoup their costs. Alums of one-year, flexible, executive and online MBA programs, such as Northwest's MBA in Marketing, can do the same in just 2.5 years.

But return on investment is only one part of the picture. In its "Best Jobs" rankings, U.S. News & World Report compares occupations based on what matters most to job seekers. Salary is one consideration. But stress and work-life balance are also rated. Based on a total score, marketing manager positions have a lot to offer when it comes to career satisfaction.

Learn more about Northwest Missouri State University's Master of Business Administration in Marketing Online.


Sources:

U.S. News & World Report: Marketing Manager Overview

Graduate Management Admission Council: Does It Pay to Get a Specialized MBA Degree?

U.S. Bureau of Labor Statistics: Management Occupations

PayScale: Marketing Associate Salary

U.S. Bureau of Labor Statistics: Occupational Employment Statistics

U.S. Bureau of Labor Statistics: May 2016 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates

Graduate Management Admission Council: Alumni Perspectives Survey

BizEd: How B-Schools Are Transforming Education

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