Digital marketing is an attractive job option for organizations looking to increase their online reach. A digital marketing manager does not only post updates and newsletters online. Digital marketing managers help organizations get more customers and convert online activity into tangible business results, as they focus on the business’s profitability. Therefore, greater responsibilities lead to higher salaries.
When people search for the average salary of digital marketing manager, they are usually trying to understand what professionals in this role earn across different industries and experience levels. They may find varying figures. Some reports show that digital marketing managers earn a lot of money, while others show they earn lower amounts. This is due to varying salaries. This is according to the number of years one has worked, location, skills, and sector.
In a bid to gain an understanding of the type of remuneration being offered in this role, one must consider the figures in the context of various estimates.
What the Role of the Digital Marketing Manager Entails
Salary becomes even more logical when one understands the importance of the particular job. Salary is not merely dependent on the job; it is linked to outcomes. A digital marketing manager is responsible for planning and implementing the company’s online marketing strategy. This person impacts the company’s online presence and its overall sales.
This role can also include tracking website activity, managing advertising budgets, improving search engine rankings, and creating online campaigns for newly launched products. A successful digital marketing professional drives business growth, and businesses are therefore willing to pay higher salaries to these professionals.
EXPERIENCE MATTERS (A Lot)
Experience matters most when it comes to salary. For example, in online marketing, you learn most through action rather than your designation in the firm. It should therefore be noted that status in the firm is quite different for a beginner than for experienced personnel who know the trends and dynamics of online marketing platforms.
Digital marketing managers with less than 1 year of experience can earn between $70,000 and $80,000 per year. It is now important, at this stage, to familiarize themselves with the tools, work on budgets, and run campaigns without many errors, rather than focusing on improving many aspects.
Compensation starts to get really high after 7 or more years of experience. A digital marketing manager with experience can earn approximately $115,000-$130,000 per year, including bonuses. Team leaders with high ad budgets and the power to shape the company’s marketing strategy earn upwards of $170,000.
Location and Cost of Living
Your location or the company’s home location may affect your salary. Tech cities have tended to pay more, and still do.
If you get a job in San Francisco, New York, or Seattle, you can expect to be paid on the upper end of the scale. This is because companies based in these cities tend to pay 15-25% above the average rate to offset the high cost of living. An average salary of over $115,000 a year can be expected for Colorado or the Bay Area.
There are changes due to remote work. Some employers adjust their salaries according to your location, but most tech companies pay their telecommuters high salaries to ensure they hire the best employees, no matter where they come from.
The Industry You Choose
Not all industries would allocate the same budget. The average salary of digital marketing manager in a non-profit organization would differ from that of a digital marketing manager at a global software giant.
- Tech and SaaS: Overall, these are typically the best-paying industries. They thrive and die based on digital growth.
- Pharmaceuticals & Finance: These two industries are highly regulated, which automatically necessitates expert knowledge, leading to high talent costs.
- Retail and Education Sectors: These industries, which are relatively competitive, typically have tighter margins, which may be reflected in slightly lower base salaries.
Skills That Add to Your Paycheck
Being a generalist is good, but specialists get paid more, so if you want to earn above an average digital marketing manager, keep perfecting your skills.
Currently, employers seek candidates with the following skills:
- Data Analysis: You have the skills to interpret the data and tell the people in charge how to proceed.
- Marketing Automation: Being skilled with HubSpot and Marketo would be a huge plus.
- SEO and SEM: Organic traffic means free revenue. The moment you know how to get it, your value increases.
Company Size Impact
Company size also matters. If the company has more than 1,000 employees, it normally has established a salary range. Their bonuses are also higher. Their salaries are higher, averaging over $90,000. In startups, the salaries are lower, but stock options are provided.
Freelance and Contracting Opportunities
Rather than getting a regular job, many professionals in the digital marketing industry would prefer to become freelancers. This way, you will also be free to charge the rates you wish. Although you will not enjoy the benefits, your pay will be higher. You will charge between $75 and $150 per hour, depending on the location.
Mapping Your Earning Path
Nonetheless, the earning capacity of digital marketing has not diminished. There is a growing need for this sort of marketing as companies focus their expansion through the digital environment. Rather than targeting the average pay, focus on those aspects you can control. This is especially pertinent in the marketing industry, as your lifetime earning capacity depends on your worth.
