How Many Positions are Expected to Become Available for an Advertising and Promotions Manager?
Advertising and promotions managers are professionals who develop and implement advertising and promotional strategies to increase sales and awareness of a company's products or services. They are responsible for identifying target audiences, researching market trends and consumer preferences, and developing advertising and promotional materials. They also work closely with other departments within a company, such as sales and product development, to ensure that marketing campaigns align with overall business goals. Additionally, they are responsible for managing a budget, monitoring the effectiveness of campaigns, and making adjustments as necessary..
The job outlook for advertising and promotions managers is generally positive, although the specific projections can vary depending on the region and industry.
According to the U.S. Bureau of Labor Statistics (BLS), employment of advertising, promotions, and marketing managers is projected to grow 8 percent from 2020 to 2030, about as fast as the average for all occupations. The BLS states that the growth is due to the increasing use of digital media, which is expected to increase demand for marketing managers who can oversee social media, mobile marketing, and other digital platforms.
According to the BLS, the median annual salary for advertising, promotions, and marketing managers was $135,030 in May 2020. This represents an increase from the median annual salary of $127,560 in May 2016.
However, the job outlook and salary rate for advertising and promotions managers can vary depending on the specific industry. For example, the job outlook for advertising and promotions managers in the advertising industry is expected to be slower than average, due to consolidation in the industry and the shift to digital advertising. On the other hand, the job outlook and salary rate for advertising and promotions managers in the healthcare and technology industries is expected to be much stronger, as these industries continue to grow and expand.
It’s good to remember that the job market, like many industries, is subject to change and influenced by multiple factors, such as economic conditions, technology advancements, and public policies. Therefore, it's important to check with the BLS and other credible sources for the most current and accurate job outlook information.
In conclusion, there is a generally optimistic career outlook for advertising and promotions managers, and this industry will expand by 8% between 2020 and 2030. The demand for marketing managers who can handle social media, mobile marketing, and other digital platforms is predicted to rise as a result of the growing usage of digital media. With slower growth in the advertising sector and faster development in the healthcare and technology sectors, the job prospects might vary based on the individual business. Furthermore, it's critical to remember that the employment market is dynamic and affected by a variety of variables, including prevailing economic conditions, technological improvements, and governmental regulations.