Earning a college degree can help graduates land desired jobs, command a higher salary, and widen the scope of career opportunities. However, people who hold an entry-level or individual contributor marketing job may want to move up the ladder or make a lateral move to deepen their skills before moving up.
Here are a few reasons to consider a Master of Business Administration in Marketing.
Command a Higher Salary
As marketing is one of the highest paying MBA concentrations, an MBA in Marketing can lead to a higher salary. Several factors affect salary, including experience, type of degree, and geographic location.
PayScale's MBA in Marketing entry shows the following annual salaries:
- Marketing manager: $75,000
- Marketing director: $110,000
- Senior marketing manager: $108,000
- Vice president, marketing: $155,000
Poets and Quants lists early career pay for marketing MBAs as $61,400 per year and mid-career pay as $123,000. In its Occupational Outlook Handbook, the U.S. Bureau of Labor Statistics shows the 2017 median pay for marketing managers as $129,000 per year.
Advance or Change Careers
People who possess an MBA in Marketing can qualify for a variety of marketing jobs at different levels, ranging from marketing manager to chief marketing officer (CMO). They may also pursue jobs in business development, brand management, sales, market research, market analysis, and product marketing.
For certain roles, especially those requiring complex problem-solving and leadership skills, potential employers prefer MBA graduates. Having the degree enables an applicant to compete for these jobs.
Obtain Transferable Skills
An MBA in Marketing provides students with transferable skills beyond marketing. They learn about management, finance, accounting, decision-making, and international business. Having these skills can expand their job options.
Gain a Deeper Understanding of Marketing
Marketing has several components, especially in a global digital world with social media, paid advertising, search engine marketing, big data, and more. Not only that, but there is also pricing, promotion, strategy formulation, analysis, and understanding buyer behavior. Enhancing your knowledge of marketing may help you come up with creative ideas and solutions to achieve your company's business goals.
Expand Your Network
In graduate programs, students establish relationships with professors and fellow students, and perhaps even with guest speakers and seminar presenters. Professors may introduce students to corporate leaders and industry experts they know. These connections can help you expand your network.
Some of your online classmates may be working full time or have held full-time positions before pursuing the MBA. Adding them to your professional network enables you to reach companies and organizations that might interest you either as potential employers or as clients. Joining a university's alumni organization can help you expand your network, too.
Why Pursue an MBA in Marketing Online?
Full-time professionals considering a marketing-focused MBA can leverage the online format while continuing to work. This format saves time as there isn't a commute or on-campus class schedule to adhere to. Students can go at their own pace and complete coursework on a schedule that works for them. Depending on the program and its requirements, a student can earn a degree online in as few as 12 months.
Learn more about Barry University's online MBA in Marketing program.
Sources:Poets and Quants: The Highest Paying MBA Concentrations of 2017
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