Category managers are individuals who determine how to promote various goods at companies by studying the results of market research. Items that affect a category manager salary include the person’s level of education as well as his or her industry experience. Earning a certification and living in a larger city also impact a professional’s amount of pay in this field.
One major factor that influences a category manager salary is the amount of schooling he or she has completed. A person in this job field should generally have a four-year bachelor’s degree in marketing or business to be accepted into an entry-level opening. Many employers, however, prefer someone who has attained a higher two-year master’s degree in business administration because advanced training teaches students how to perform marketing duties in more depth while keeping in mind an organization’s financial goals and current economic conditions. An individual with a graduate degree usually receives more money because he or she has a deeper understanding of the requirements of the job and therefore can be of better assistance to the company.
The quantity of years that an individual spends in the industry helps to determine his or her wage as well. A person with under a year of field experience easily could receive a category manager salary that is eight times less than the one given to an industry veteran of two decades. An individual who has been in the vocation longer typically has a greater level of knowledge about what techniques work, so he or she is more apt to make decisions that help his or her business to thrive financially and thus is awarded higher pay.
Certifications can actually financially benefit a professional in this career area. An individual should seek a credential through an association in the industry, which involves completing relevant training. Acquiring a designation in this line of work might improve a category manager salary because it proves to hiring professionals that the person is serious about his or her job and is extremely capable of handling the responsibilities of the position.
An urban locale is also likely to result in higher pay levels to employees than rural areas in this field do. A company in a larger metropolitan location usually caters to a greater number of customers and is therefore more lucrative, so it can afford to pay a bigger category manager salary than a business in the country can. The cost of living also tends to be steeper in a major city, so a higher wage is necessary to accommodate this.
