Benefits of Earning an MBA in Marketing
An MBA in Marketing program offers specialized education in consumer behavior, brand and product management, promotion management and selling strategies, in addition to the traditional MBA coursework of advanced business strategies, corporate management, human resources and finance. The benefits of having an MBA in Marketing include the opportunity for advancement to higher positions, increased salary and overall increased career opportunities in a variety of fields.
Earning an MBA in Marketing can increase the chances of receiving a promotion. The variety of business, leadership skills and knowledge developed through an MBA program helps qualify graduates for management and executive positions. With enough relevant professional experience, MBA marketing graduates may advance to positions as marketing managers or directors, marketing and business development managers, sales representatives or brand managers.
According to PayScale.com in February 2016, individuals holding an MBA in Marketing are sometimes earning almost $40,000 more per year than those holding a Bachelor of Business Administration (BBA) in Marketing by similar employer types. PayScale.com notes that an employee with a marketing BBA working for a company earned a median of $56,683, while an employee with a marketing MBA working for a company earned a median of$93,804.
Similarly, earnings for MBA graduates are often higher by job type than those of BBA graduates. For example, a marketing manager with a BBA can expect to earn around $55,000 annually in median wages, while a marketing manager with an MBA can expect to earn an estimated median salary of $76,000, as of 2016.