A Master of Business Administration in Marketing is one of the most versatile business degrees you can earn. This is because a typical program covers topics and skills that are applicable to many jobs. Students pursuing an MBA in marketing take a deep dive into product management, selling strategies, promotion and consumer behavior. They also focus on building and maintaining relationships with prospects and customers.
Students develop problem-solving skills and learn about all components of a business, including accounting, finance, operations, analytics, leadership, and economics.
Marketing MBA Jobs and Outlook
A marketing MBA can help you change careers and get a pay increase. The "Occupational Outlook Handbook" from the U.S. Bureau of Labor Statistics (BLS) places the median wage for marketing managers at $129,380 in 2017.
Graduates with an MBA in Marketing have job options across a variety of industries and locations. A number of factors affect salary, including job responsibilities, experience, degree, location, and organization. It is possible for the same job title in two different companies to have different responsibilities. Here are five jobs for MBA in Marketing grads and a general description of each.
A brand manager oversees the company's brand or image, and promotion of its services and products. In this role, the manager develops and implements a strategic plan to increase or maintain the brand's equity or value. The manager may work with a full staff within the marketing department.
He or she may collaborate with advertising and lead the creation of customer communications. PayScale reports that brand managers earn a median salary of $70,000 per year in 2018.
Digital Marketing Manager
Responsible for overseeing a company's digital marketing strategies, the digital marketing manager concentrates on social media and online media platforms. This role may involve being in charge of website development and all digital communications that reach customers and prospects.
It requires tracking and reviewing analytics to determine what is working and what is not. PayScale lists the 2018 median pay for digital marketing managers at $64,000 per year.
By studying the market's needs and economic indicators, the marketing director designs the company's comprehensive marketing strategies. These strategies aim to increase the target market's awareness of the company.
The director runs the marketing department, providing guidance and input to marketing managers and staff. The median yearly pay for the marketing director in 2018 is $83,000 according to PayScale.
This job involves managing the development and implementation of marketing plans, projects, and campaigns. The marketing manager is also responsible for overseeing a company's short- and long-term marketing strategies.
He or she manages a team or department and could also be in charge of brand development, public relations, and competitive analytics. Someone in this role will most likely interact with multiple departments depending on the size of the company. The median pay for marketing managers is $63,000 annually in 2018 according to PayScale.
Product Marketing Manager
Assigned a company's product or product line, the product manager creates and implements a strategy to effectively sell the product and garner the highest revenues. He or she manages public perception of the product. The role can be local, regional, national, or international. As of 2018, the median yearly salary for product marketing managers is $84,000, per PayScale.
Marketing MBA grads may also land jobs in search engine marketing, product marketing, market analytics, or content marketing. The degree can boost graduates' chances of getting a job because the hiring rate for MBA graduates has climbed most years, per Statista. Furthermore, BLS predicts that employment for advertising, promotions and marketing managers will grow faster than average between 2016 and 2026.
Learn more about Barry University's online MBA in Marketing program.
Sources:Statista: Percentage of Companies That Hired MBA Graduates From 2008 to 2016 and Planned to Hire MBA Graduates in 2017
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