A Master’s in Marketing: Is It Worth It?
In a world that relies on the placement of products and services on global markets, specialists in marketing are always welcome. So, it’s not a surprise that many companies struggle to hire people with advanced knowledge about advertising, marketing, and promotions.
A Master’s in Marketing will help you secure a job in any iconic brand you might conceive. Your employment options will be versatile thanks to the profound understanding of sales principles, analytical tools, and strategies you’ll gain. Your ability to predict consumer behavior can further strengthen your position.
Another alternative for MBA graduates is to take on a leadership role in a team. They can apply for a managerial, consultant, PR, or data analyst post. It all comes down to your narrow interests and areas you excel at when at university.
So, is a Master’s in Marketing worth it? This article reveals your reach after earning your MBA and shares some helpful tips about what to expect while studying.
What Courses Do MBA Students in Marketing Take?
Each course you’ll take to achieve your master’s degree in marketing will prepare you for a promising career. MBA-level courses include Brand Management, New Product Development, Marketing Communications, Digital Marketing Strategy, Pricing Strategies, and Statistics for Marketing.
You’ll participate in interactive group projects and work individually to get a well-rounded knowledge. To this end, most classes about marketing strategies are discussion-based. Also, expect to do extensive research and paper assignments. If you need assistance, peer coaching can provide writing help. Mentorship opportunities with alumni are also available.
Enrolled students can explore and apply relevant concepts such as advertising and sales beyond the classroom. More precisely, they will attempt to resolve real-world marketing problems. Coursework creators believe that hands-on experiences like internships are best for transferring knowledge.
Career Paths for Marketing Postgraduates
Sales and marketing masters offer multiple career options. If you wonder why this is the case, the answer couldn’t be more straightforward. Companies today depend on their digital marketing strategies, thus enabling brand awareness and visibility. Here are some high-paid job positions you can consider and get recruited once you polish your skills.
First, you can become a strategic planner. In your work, you’ll analyze quantitative and qualitative data. This insight will allow you to position brands and develop marketing campaigns. These professionals also cooperate will other departments to create and execute media plans. On average, advertising managers earn $62,000 per year. Bonuses, commissions, and profit-sharing income are extra and can reach $18,000.
As a marketing manager, you’ll be in charge of developing highly-efficient marketing strategies. Plus, you will have to oversee the entire department, help set prices, research competitors, and monitor trends. Some decide to specialize in areas like digital marketing or brand development. Marketing managers can expect to pocket over $130,000 per year.
Your duties will include analyzing market conditions to see what clients want and how much they spend on particular products. Market analysts also assess the effectiveness of multiple advertising channels. Then, they take a data-driven approach to adopt critical managerial decisions. The average annual salary of market research analysts is approximately $63,000. Yet, an MBA degree will boost your income significantly.
If you want to build a career in PR after the education process, opt for a strategic communications manager position. You’ll be entrusted to shape the company’s public image through curated content. In short, you’ll do extensive research to develop communication strategies. Besides maintaining, enhancing PR relations is vital. On average, PR managers earn about $115,000 per year.
Working as an independent consultant is a lucrative alternative for experts with MBA in marketing. Consultants collect and interpret data, analyze figures, and present findings to clients and stakeholders. Expect to earn as much as $100,000 per year.
Should I get a Master’s in Marketing is a dilemma for many college graduates. The truth is that this degree provides a scientific approach to analyzing consumer behavior. Students learn to use data-driven insights to draft and implement creative marketing campaigns. An MBA in marketing will teach you to build brands that thrive in an ultra-competitive landscape. And this is the obstacle many companies struggle to overcome in this ever-changing world.