Social Media Managers: The Financial Aspect

Social Media Managers The Financial Aspect

While a lot of people may consider that social media is something that has just surfaced recently, the reality is that it’s been around since the beginning of the century. It’s just that the ways in which it could be accessed, apart from the kinds of platforms have changed in such a way that it’s now much more available than it used to more than a decade ago.

From desktop computers, people could now access their social media accounts through other ways through tablets and smartphones. This increased number of ways for them to access to social media has undoubtedly led to its growth.

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From this development, a new need has arisen, and this is the importance of being able to manage social media properly. This is because most establishments have joined the social media bandwagon through capitalizing on the huge online presence of both current and prospect clients. Having said this, there has to be a person that could be assigned to take care of the necessary tasks associated with social media use. This is where social media managers come in handy.

One of the common questions associated with this job, apart from its very nature is how much these social media managers make.

Social Media Money Matters

As with every other managerial position, the rates at which these social media managers are paid for vary and would depend on several factors. These factors are discussed below.

1.  Type of Company

One of the variables that have a really huge influence when it comes to your final rate would most definitely have to be the business which would be employing you. This is because different companies have different natures and that some companies would demand you to do more complicated work and have a larger online presence, while your job in some would only have to do with posting statuses and certain graphics.

Other high-profile enterprises also pay you more than other companies with a limited set of operations. On average, high-profile companies could pay you as much as $65,000 on an annual basis, while low-profile ones would range from $30,000 to $50,000.

2.  Work Experience

Another factor that would determine your pay would most definitely include your job experience. Given that the task of a social media manager isn’t the same in each company.

You having additional skills, especially in graphic design would most definitely oblige the company in some way for you to be paid more than those who are entry-level social media managers who are either fresh off from undergraduate studies or a social media management training course. Moreover, it would give you an edge if you already have been a manager of some sort, or have been working in the business sector.

This is because they don’t have to train you more as you’re already learned or skilled when it comes to dealing with people as the principles when it comes to customer approach and social media more or less remain the same.

3.  Other Credentials

In the field of social media management, past work experience would always be a huge factor when it comes to determining your salary, especially in a managerial position such that would focus on the community. There are, however, other kinds of credentials that would help to give more opportunities for an increased salary.

These credentials include the number of training and seminars that you have attended in, as well as the degree you finished, should this be applicable for you. The reputation of your past work would also greatly matter in cases like this.

4.  Frequency of Work and Status

Social media management largely has to do with getting to interact with other people. Having said that, it’s not necessary that people would have to report just like they would with other nine-to-five jobs, given that the people they would be interacting with are not necessarily in front of them. Some social media managers are only required to report as needed, with much of the workload being assigned to them doable wherever there is a stable internet connection.

5.  Extent of Duties and Number of Individuals Hired

There are instances when firms would hire another firm to take care of their social media management needs. This would allow them to evenly distribute their workload to a certain group of individuals assigned to that particular company.

Most of the time, social media managers comfortably work in groups of 2 or 3, and hence are all able to provide output to the company regardless of whether a member may call in sick or not. If you work for a firm, then expect little control over the amount which you would be earning.

Other companies, on the other hand, would only be looking for a single employee to take care of their social media work, which is most especially true among the smaller ones.

Average Social Media Manager Pay: Other Facts

Given all of these factors that could influence the rate, the amount in which people get paid to do social media managing tasks significantly vary. As a matter of fact, different authorities can’t even reconcile with an average. PayScale says that a social media manager is paid $45,260 on the median, Glassdoor rates it at around $52,000, and Indeed says that they are paid $61,000 on average, the highest of the averages.

Conclusion

Social media managing is not as laborious compared to other jobs. Hence it could be understood that its pay is relatively lower. If you want to have as high of a payment as possible, however, remember to get yourself hired in high-profile companies, one perfect example of which is Google, which pays its social media managers twice the salary as that of other companies. Also, make it a point to get as many training as you possibly could, and if you are a manager by heart, having a degree in business management would put you at an advantage.

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