Anyone who is studying to earn a degree in marketing should be aware of what the projected employment outlook is for all kinds of marketing careers. Using projected data that’s published by the Bureau of Labor Statistics and other trusted sources is a great way for soon-to-be college graduates to make informed decisions about their career and life after college. Here’s interesting information about job prospects and the overall outlook for the field of marketing:
Overall Outlook for Professionals in the Marketing Field
The Bureau of Labor Statistics, also known as the BLS for short, is the only federal statistical agency in the Department of Labor that is responsible for measuring labor market activity and analyzing how changes will have an impact on the US economy. According to data measured by the BLS, the overall outlook for employment for advertising, marketing, and promotions employees is expected to grow nine percent from 2016 to 2026. This translates to 249,600 jobs being created over a span of ten years. Compared to growth in all fields, the outlook in marketing is about average.
The Outlook is Dependent on the Industry
Anyone who wants to know what they should expect when they’re graduating college and looking for a position should get a more detailed look at what the prospects specific to them will be. Marketing is a huge field. Not only are there tons of different types of marketing jobs available to entry-level professionals and graduates, there are also hundreds of different industries to choose from which all have their own trends.
Every single company in the United States will invest money in marketing dollars, regardless of if the company operates in a steel manufacturing or in the retail segment. Without an investment into advertising and branding, there’s no way a small, mid-sized, or large company would succeed.
Graduates should always center their focus on industries that are flourishing and popular when seeking a position. This ensures the outlook will be higher than the average in the field and the nation.
Which Industries Offer the Best Job Prospects for Marketers?
Some industries simply won’t have a huge demand for marketers in any capacity because a decline in the need for the products or services being offered. For example, the print industry is declining because of the growing presence of digital news outlets. This means that newspaper companies aren’t going to have a huge demand for marketers unless there’s a huge push being presented to go digital.
Some industries where new products are being developed and then launched into the marketplace have a significantly higher demand for advertisers and marketers. Outlook also tends to be very high in organizations where there’s a constant battle to build market share. The BLS reported the best job prospects in advertising firms, the information technology industry, and the retail trade.
Marketing majors must recognize how their level of education will affect their ability to land a high-paying job. Typically, recruiters recommend that applicants possess no less than a Bachelor’s degree when attempting to enter the highly competitive field of marketing. With a Bachelor’s degree and no on-the-job experience, it’s common for graduates to land entry-level positions as marketing assistants or associates. After earning experience, more marketing careers will open up and professionals can climb the corporate ladder by using their knowledge or earning a graduate degree.