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 (MBA) in Marketing.
Command a Higher Salary
According to Intelligence.com, marketing is one of the highest paying MBA concentrations. Hence, 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 average base salaries as of March 2022:
- Product marketing manager: $103,243
- Marketing director: $115,601
- Senior product manager: $131,141
- Vice president, marketing: $166,678
Combining all managerial-level marketing occupations, the U.S. Bureau of Labor Statistics (BLS) reports that the median pay for marketing managers in 2020 was $141,490 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. As Intelligence.com explains, “Entry-level marketing positions often only require a bachelor’s degree … but to become a marketing manager or marketing director, you will likely need an MBA in marketing to stand out against other applicants.”
Obtain Transferable Skills
An MBA in marketing provides students with transferable skills beyond marketing. They learn about management, finance, technology and information systems, accounting, decision-making, and international business.
Programs like Barry University’s online MBA in Marketing also emphasize the social and ethical aspects of business, helping students develop a socially responsible business perspective. Expanding and upscaling a diverse, versatile skillset can expand a business professional’s job options within and outside of the traditional marketing field.
Gain a Deeper Understanding of Marketing
Marketing has several components, especially in a global digital world with social media marketing, 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 as well.
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. Students can earn an online MBA in marketing from Barry University in as few as 12 months.
Learn more about Barry University’s online MBA in Marketing program.