When it comes to business, two crucial components come to mind: marketing and accounting.
While they may seem like vastly different fields, they are both essential to a company’s success. But what’s the real difference between these two professions?
In this article, we’ll delve into the world of marketing and accounting, exploring their unique focuses, responsibilities, and salaries, as well as the similarities between the two.
Understanding the Focus of Marketing vs. Accounting
The focus of marketing compared to accounting is quite distinct.
Marketing focuses on generating external attention aimed at a company or its products or services and earning revenue through this attention.
The responsibilities of marketing professionals are:
- creating marketing campaigns,
- analyzing marketing and promotional trends,
- launching and maintaining marketing campaigns,
- managing department staff,
- reviewing campaign outcomes,
- and creating marketing strategies.
On the other hand, accounting focuses on the internal financial aspects of a company, tracking, recording, and preparing statements based on this information.
Accounting professionals are responsible for:
- prepare financial reports or statements,
- review company financials,
- analyze market and economic trends,
- manage company financials,
- solve accounting-related issues,
- and oversee accounting or finance departments.
Marketing professionals focus on creating and executing marketing strategies while accounting professionals focus on managing a company’s financial health.
Salary Differences Between Marketing and Accounting
The average yearly salaries for professionals in the field of marketing and professionals in the field of accounting differ as well.
Accountants earn $55,668 per year on average, while marketers earn an average of $63,085 per year.
However, salaries for both roles may differ based on an individual’s education, level of experience, and location.
Working in Different Departments
In a workplace or office, professionals in marketing and accounting work in different departments.
Marketing professionals typically work in departments such as marketing, advertising, promotions, C-suite, and public relations.
Accounting professionals typically work in departments such as accounting, C-suite, finance, and human resources.
Similar Job Outlook For Marketing And Accounting
According to the U.S. Bureau of Labor Statistics, job opportunities for accountants and auditors are expected to increase by 7%, which is about as fast as average for all roles.
In comparison, job opportunities for professionals working in advertising, promotions, and marketing management are expected to grow by a similar rate of 10%.
Places of Employment for Marketing and Accounting Professionals
Typically, accounting and marketing professionals tend to work in the same places of employment.
In many cases, similar organizations employ marketing professionals and accounting professionals because they need their expertise to meet company goals.
These professionals often work in private firms, government organizations, private companies or organizations, nonprofit organizations, self-employed businesses, and small businesses.
Jobs to Consider in Marketing
If you’re interested in pursuing a career in marketing, there are many different roles to consider. Here are a few jobs to consider in the marketing field:
Social Media Manager:
A social media manager is responsible for maintaining social media accounts and their content for companies or organizations.
Those in this role typically create social media campaigns, launch them, maintain them, and review their reception, successes, and failures.
Marketing Assistant:
This is an entry-level professional who assists higher-level marketing professionals with marketing campaigns and strategies.
Professionals in this role typically provide the research and suggestions behind possible marketing strategies or methods for the rest of the marketing department to consider using.
Digital Marketing Manager:
Digital marketing managers are responsible for all online marketing strategies and implementation.
Those in this role create marketing campaigns specifically for digital platforms, launch them, and review their successes or failures for future reference.
Marketing Director:
A marketing director is responsible for all aspects of a marketing department and its functions and operations.
Professionals in this role analyze current marketing trends to implement with their own marketing campaigns, create marketing campaigns as needed, and successfully launch them.
Jobs to Consider in Accounting
If you’re interested in pursuing a career in accounting, there are many different roles to consider. Here are a few jobs to consider in the accounting field:
Accounting Specialist
An accounting specialist is responsible for managing financial accounts for a company or organization.
Those in this role typically keep detailed records of any transactions, invoices, investments, and more that the company makes and prepare statements and other documents to present this information.
Accounting Manager
An accounting manager is responsible for overseeing staff in the accounting department and all daily accounting operations and activities. Professionals in this role monitor daily accounting tasks, maintain accounting policies and methods, create periodic accounting reports and other documents, and implement accounting schedules.
Certified Public Accountant
A certified public accountant, or CPA, is a highly educated accounting professional who has taken a mandated exam and can work in a variety of capacities. Professionals in this role create financial reports, statements, and other documents, interpret financial data, represent clients during auditing, file tax returns, manage clients’ personal and professional finances, and more.
Finance Manager
Professionals in this role are ultimately responsible for keeping their employer’s company in excellent financial standing, reviewing market trends, analyzing company financial data, giving advice on strategic business methods, and more.
Whether you’re interested in creating marketing campaigns or managing a company’s financial health, there’s a role out there for you.
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