While the majority of marketing professionals end their college education at the undergraduate or graduate level, some choose to pursue doctorate degrees. PhD marketing programs generally prepare students for careers in teaching and research. However, some PhD graduates choose to pursue positions in areas such as applied research, market analysis and consulting. Depending on skill level, location and industry, annual salaries for these positions can fall within the six-figure range.
Marketing Professor Salaries
One of the most common career paths for students who earn a marketing PhD is higher education. PhD graduates generally teach at the faculty level at colleges and universities, as well as conduct research in the marketing field. Marketing professors plan lectures, grade assignments and administer exams. They also research and write articles for publication in academic journals and publications. Generally, PhD graduates start off as assistant professors before receiving tenure as permanent associate or full-time professors. A recent U.S. Salary Survey Report by the Association to Advance Collegiate Schools of Business stated that the average salary for marketing professors was $138,500. Associate marketing professors averaged $109,300 per year. Assistant marketing professors earned an average salary of $102,900 per year.
Market Research Salaries
Although not as common, some professionals with a marketing PhD move into applied research positions in private industry and for-profit organizations. Marketing PhD graduates typically transition into market research or market research analyst positions. Market research analysts are tasked with gathering and compiling data on marketplace trends, competitors and potential product development. They also monitor market conditions and fluctuations within their particular industry. Entry-level analysts averaged an annual salary of $49,771, according to a May 2011 Salary.com report. However, PhD-level applicants may qualify for higher-level positions that have greater earnings potential. For example, Salary.com stated that market research analysts with four to six years of experience averaged $71,579 per year.
Marketing Consulting Salaries
Professionals with marketing PhDs can also pursue careers in consulting. The duties of marketing consultants vary widely, since these professionals typically run their own businesses and manage different client accounts. Consultant duties include creating marketing campaigns, developing brochures and flyers, directing promotional activities and designing store or corporate merchandise. Ultimately, professionals apply the skills they learned as PhD students to help their clients increase sales and build a customer base. The average salary for marketing consultants was $70,270 according to a May 2011 CareerBuilder salary report. However, average salaries can reach as high as $114,504.
Marketing PhD professionals who decide to enter consulting or teaching also receive varying salaries based on where they work. Marketing professors in Houston averaged an annual salary of $83,529, according to a May 2011 SalaryExpert report. The same report showed that marketing professors averaged $96,166 in New York City, $93,939 in Atlanta and $79,071 in Orlando. SalaryExpert also reported that marketing consultants in Houston earned similar salaries as professors, averaging $83,422. However, consultants in New York City averaged $75,444, while consultants in Atlanta reported an average salary of $65,714. Marketing consultants in Orlando reported the lowest salaries, averaging $56,741 per year.