Benefits of Earning a Marketing MBA
When considering earning an MBA in Marketing, it can be helpful for individuals to evaluate how it will affect their career prospects and salary potential. Read on to find out about prospective salary ranges and see examples of course topics. 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 could 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 such as marketing managers or directors, marketing and business development managers, sales managers, and brand managers.
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According to PayScale.com in April 2017, the annual salaries for individuals with an MBA in Marketing ranged from $39,002 to $226,692, depending on their job title. In contrast, individuals with a BBA in Marketing had a salary range of $42,000 to $87,000 depending on their job title. Specifically, the median annual salary for marketing managers with a BBA was $87,000. Marketing directors with an MBA earned $100,733.
MBA in Marketing programs consist of a core of advanced business coursework, alongside marketing-specific electives. You'll be able to advance your knowledge of general business topics, like finance, corporate management, and human resources, while focusing on building your marketing skills. Marketing elective courses focus specifically on topics like consumer behavior, brand management, product management, promotion management, and strategic selling. An MBA in Marketing can serve as a foundation for career advancement, and it may also increase earning power. Many programs include electives to supplement what may have been missed in core content.