Managers of Career Alert - Assignment Example

Table of Contents Introduction 2 Purpose, Scope and Limitations: 2 Sources and Methods 2 Report Organization 3 Sales Manager 4 Salary 4 Benefits 5 Long Term Prospects 5 Salary 7 Hours 7 Benefits 7 Long Term Prospects 8 Conclusion and Recommendation 9 Pros and Cons of each position 9 Recommendation 9 References 11 Introduction A career decision is always a difficult and tedious process. The success of your career starts with a good and intelligent choice of what career path you must take. Our company, Career Alert has done extensive research regarding the two career options which you are faced with. We have interviewed people in both careers and will present to you the feedback which we have gathered from these interviews. With this report, it is our hope that you will be able to make an intelligent and informed decision which you will not regret. Purpose, Scope and Limitations: The purpose of this report is to determine what career option you should pursue. The choices that are being considered are that of a career as a Sales Manager or as a Marketing Manager. These two positions will be evaluated on the basis of the salary, number of hours worked, the benefits that go with the job and the long term prospects for the job. Sources and Methods Career Alert conducted extensive research on the job opportunities open for a Sales Manager and a Marketing Manager through the website Glassdoor.com, the ExecutivesOnTheWeb.com and Careerbuilder.com. Information regarding the current salary ranges of both the Sales and Marketing Managers were based on these sites. Interviews were conducted among current Sales and Marketing Managers to get insights on their careers. Report Organization Career Alert believes in the importance of making the right decision in choosing a career. We are aware that a career choice is dependent on several factors such as the salary and the future prospects for the job. Your concern is our concern too. We measure our success by the success of our clients. We are dedicated to helping you decide what the best career path is for you, a Sales Manager or a Marketing Manager. Sales Manager A Sales Manager is responsible for the sales program of a company. Sales Managers are the ones who set the goals for the sales team. They are in-charge of assigning the sales territories of the sales representatives (Halvorsen, n.d.). Moreover, training programs for the sales representatives are designed by the Sales Manager. Sales Managers serve as advisers or mentors of the sales representatives regarding ways on how to improve their performance and meet their sales targets (Halvorsen, n.d.). A Sales Manager must be able to analyze sales statistics gathered by his sales staff in order to find out the sales potential of certain areas and address the preferences of the clients (O*NET Online, 2011). Salary The salary of a Sales Manager is usually broken down as fixed salary per month, cash or stock bonuses and commission on sales. Average salary per year of a Sales Manager ranges from $34,000 to $39,000 (Glassdoor.com, 2012). Total compensation can even go as high as $75,000, if the commissions and bonuses are included (CareerBuilder, 2012). However, figures from the Bureau of Labor Statistics show that median wage for a Sales Manager in 2011 is $48.87 hourly or an annual rate of $101,640 (O*NET Online, 2011). Hours A Sales Manager must be willing to travel three to four nights a week, every week because he has to visit the various sales territories under him (CareerBuilder, 2012). Sales Managers must be ready to work more than eight hours a day because some customers may only be available after office hours. Moreover, most sales representatives are also occupied during office hours and their only time to meet with the Sales Manager is after their sales calls. It is a common norm among Sales Managers to work during evenings and weekends. Benefits There are several benefits enjoyed by the Sales Managers. Aside from the hefty commissions and bonuses earned when the sales quotas are met, they may enjoy stock options or profit-sharing arrangements. Sales Managers enjoy travel benefits as well. Long Term Prospects According to the Bureau of Labor Statistics, the growth rate for the employment of Sales Managers is expected to grow between 10 to 19 percent from 2010 to 2020, which is the average for all occupations in the US (U.S. Bureau of Labor Statistics, 2012). With the growing globalization, companies will always be on the lookout on ways to generate more sales; thus, there is a need for more effective Sales Managers. Projected job openings for Sales Managers for the period 2010 to 2020 is 139,700 (O*NET Online, 2011). The top industries for Sales Managers are retail and wholesale trade and manufacturing (O*NET Online, 2011). Overall, a Sales Manager’s job may be considered to have a bright outlook for the future. Work Environment The job of a Sales Manager would require him to communicate with people in and out of his organization. He has to be in constant contact with his sales representatives. Being a Sales Manager requires that he deals with his customers, the public or the community and the government. He spends a lot of time on the telephone to deal with his customers and subordinates. Communication through emails is a vital way of communicating with the sales representatives. Most of the time though, a Sales Manager is on the field conducting sales presentations or assisting his sales people. Marketing Manager A Marketing Manager is responsible for the planning, directing and coordinating of marketing policies and programs of an organization. It is the duty of the Marketing Manager to determine the demand for the company’s products or services and to identify their target market (O*NET Online, 2011). The Marketing Manager is in-charge of formulating the strategies with regards to the product, price, promotion and distribution of the products, which are attune with the needs of the customers. He should be knowledgeable with the latest trends in the marketing of the company’s products or services. Salary As of 2011, the median wage for Marketing Managers is $55.78 per hour or $116,010 per year (O*NET Online, 2011). Based on the CareerBuilder website, a Marketing Manager can earn from a range of $34,000 to $57,000 a year (2012). Marketing Managers enjoy bonuses and commissions too. Hours A Marketing Manager’s job is a full-time job. Since Marketing Managers need to coordinate with several departments of the organization, they usually work long hours. Most of them work even after office hours and on weekends. Benefits Aside from a hefty salary, Marketing Managers get to travel a lot too. They attend trade shows and promotional activities of their products in several territories. Some Marketing Managers enjoy free membership in club organizations. They also get a lot of media coverage as part of their job to promote their products and services. Long Term Prospects It is projected that the employment growth rate for Marketing Managers will be between 10 to 19 percent from 2010 to 2020 (O*NET Online, 2011). Marketing Managers will continue to be an in-demand profession because organizations always strive to increase their market share in their respective industries. Projected job openings for Marketing Managers for the period 2010 to 2020 is 76,000 (O*NET Online, 2011). The top industries in this field are professional, scientific, technical services and manufacturing (O*NET Online, 2011). Work Environment The job of a Marketing Manager entails much coordination among the people within the organization and outside the organization. They have to communicate with the marketing and sales teams. They have to harness their relationships with the customers, advertisers, the media and the government. Their work activities include developing strategies and motivating their marketing teams. A lot of their time is spent outside the office to market their product or service. Conclusion and Recommendation Pros and Cons of each position A major advantage of a career as a Sales Manager is the potential of having high earnings. Commissions and bonuses are often huge once the sales quotas are met. Several perks are enjoyed by Sales Managers such as a car plan, gasoline allowance and travel benefits. Furthermore, as Sales Manager one is in control of his income because depending on his sales skills and hard work, one has the ability to earn more. The major drawback of being a Sales Manager is the pressure to reach one’s sales targets. If one does not meet his quota, then he will not earn much. Aside from the pressure to produce, Sales Managers are confronted with problems regarding their sales representatives who do not perform well. Motivating one’s subordinates is a challenge for Sales Managers. A Marketing Manager has the advantage of being trained as an entrepreneur. Since a Marketing Manager is responsible for the formulation and implementation of the major strategies of a company, he becomes exposed to almost all the important aspects of managing a business. Of course, a disadvantage of this is that there is too much pressure on the Marketing Manager to perform well because the profitability of the company is greatly affected by his performance. Recommendation After much research conducted by Career Alert, it is recommended that you pursue a career as a Marketing Manager. Aside from the higher salary expected, this position will make you a well-rounded manager. You will not only be concerned with sales of the company but rather, you will be tasked with other marketing concerns such as advertising and distribution. A Marketing Manager position will be a good preparation for you in managing your own business or even occupying higher level positions in a company. As Marketing Manager, you will also enjoy a high salary and be entitled to commissions and bonuses. References CareerBuilder, LLC. (2012). Search company profiles. Retrieved April 9, 2012, from careerbuilder.com Web site: http://www.careerbuilder.com/employerprofile/companysearch.aspx Executives on the web. (2012). Job search results. Retrieved April 9, 2012, from executivesontheweb.com Web site: http://www.executivesontheweb.com/international-sales-and-marketing-manager-jobs Glassdoor. (2012, March 27). Sales and marketing manager salaries. Retrieved April 9, 2012, from glassdoor.com Web site: http://www.glassdoor.com/Salaries/sales-and-marketing-manager-salary-SRCH_KO0,27.htm Halvorsen, R. (n.d.). Sales manager job description. Retrieved April 12, 2012, from salescareersonline.com: http://www.salescareersonline.com/articles/article_08132006.html O*NET Online. (2011). Details report for: 11-2022.00 - Sales managers. Retrieved April 12, 2012, from onetonline.org: http://www.onetonline.org/link/details/11-2022.00 O*NET Online. (2011). Summary Report for: 11-2021.00 - Marketing managers. Retrieved April 12, 2012, from onetonline.org: http://www.onetonline.org/link/summary/11-2021.00 U.S. Bureau of Labor Statistics. (2012, March 29). Sales managers. Retrieved April 12, 2012, from bls.gov: http://www.bls.gov/ooh/management/sales-managers.htm Read More