Salary of a Secondary Marketing Assistant
Secondary marketing assistants work in the banking and financial services industry, primarily as assistant marketing managers who help analyze and develop marketing strategies for secondary market financial products. The secondary market is the market in which financial investments are bought and sold once they have been issued in a public offering. Marketing assistants in this particular industry will generally make salaries near the bottom of the pay scale.
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Starting Pay
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Marketing managers made average salaries of $122,720 per year in 2010, according to the Bureau of Labor Statistics. However, this salary reflects the pay earned by marketing managers with all levels of experience. Secondary marketing assistants generally start near the bottom of the pay scale, earning salaries of $57,750 or less per year, according to the bureau. The bureau notes that the lower 25 percent of those working in this industry made $80,900 or less on an annual basis. The EMAC Group LLC, indicates that the pay for an assistant marketing manager generally ranges from $50,000 to $75,000 per year, as of 2011.
Earning Potential
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A secondary marketing assistant who progresses in his career and serves as a marketing manager can expect to make substantially more than the general starting salary range. For instance, the Bureau of Labor Statistics reports that the median salary for marketing managers was $112,800 in 2010, while the upper 25 percent earned salaries in excess of $151,260 and the upper 10 percent brought home more than $166,400.
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Qualifications
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Due to the highly complex nature of the investment world, a Master's degree is generally required to work in this field, even if starting off as a secondary marketing assistant. A background in finance is generally ideal, however, degrees in economics or mathematics will sometimes suffice as well. Some secondary market work revolves around the real estate investment field as well, so some background in the mortgage industry may be needed. Marketing assistants may be required to travel and must have enough business savvy to network and work closely with other financial professionals.
Job Outlook
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Job growth in the marketing management field should continue on at a steady pace through 2018, according to the Bureau of Labor Statistics. The bureau predicts a job growth rate of about 12 percent for marketing managers during the period from 2008 to 2018. This job growth is considered average growth in comparison to other industries. Job growth for secondary marketing assistants and secondary marketing managers will be heavily dependent upon the continued growth of both the financial services and real estate sectors.
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References
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