An Online Business Marketing Degree provides many job prospects and a good income. In fact, this field can lead to the highest paying jobs with an online degree. Like all professions, your salary will depend on several factors.
Federal and State Laws
While your online business marketing degree will most likely earn you more than minimum wage, it is important to keep in mind that federal and state laws place a minimum on wage amounts. The current federal minimum wage is $7.25. Each state can either enforce that minimum or set a higher minimum. The reason this is good to know is for those occasions where you will need to use skilled labor or interns to help with a single project or on a regular basis. Minimum wage marketing jobs might include an event planner intern or a marketing data entry worker.
The cost of living is different in various regions in the United States. The cost of food, housing, taxes, energy, and other services and products vary from city to city and state to state. Therefore, when an employer considers the proper salary for an employee, one of the factors is the cost of living for the location of the job. For example, the cost of living in Detroit, Michigan is less than the cost of living in Manhattan. Therefore, the same job in both cities may have different wages.
A rule of thumb to remember is that jobs that require repetitive activities and little original thought to perform, pay less. Jobs that require creative thinking, or application of knowledge in unique ways, take more energy and qualifications and therefore earn higher wages. Additionally, the more responsibility, the higher the pay. Higher wage jobs might involve managing the work of others, or require higher levels of education or more experience.
The industry for which you are a marketer will impact your salary. A marketing job in the computer science industry might pay more than a job performing the same activities for a non-profit charitable foundation.
Beyond the Paycheck
Don't forget that your total compensation is greater than your salary. While money is the most important compensation factor for most people, there is great value in other elements of compensation such as the following:
Show Me the Money
There are many sources available to help you determine the applicable wages in your region for marketing positions. Professional associations are perhaps the best sources for this information. Many associations conduct salary surveys nationwide or within their specific region. An internet search for an association in your region should point you to a good resource.
Below are samples of salaries for various job titles that benefit from an online business marketing degree within the United States as reported by salary.com. These should be used as guidelines since these are national averages and the variables described previously will have an impact.
$10,000 - 30,000
$30,000 - 50,000
$50,000 - 80,000
$80,000 - 100,000
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