A master's degree program in marketing focuses on giving students the necessary skills to understand the market and promote and sell a product, business, service or idea to consumers and the public. These skills can be applied to several different careers in the field of business. Below we have listed and then discuss a few of the career options for those with a master's degree in marketing.
Careers for Those with a Master's Degree in Marketing
|Job Title||Median Salary (2016)*||Job Growth (2014-2024)*|
|Market Research Analysts||$62,560||19%|
|Public Relations and Fundraising Managers||$107,320||7%|
|Advertising and Promotions Managers||$100,810||5%|
Source: *U.S. Bureau of Labor Statistics
Marketing managers work with a variety of staff, including sales and public relations, to try and determine available markets for their organization's products or services. They evaluate the demand for these products, research and compare any competition with the product and then use this information to help set price points. Their overall goal is to maximize profits for their organization and meet the demand of the market. Marketing managers need at least a bachelor's degree and work experience in the field. Although a master's degree is not a formal requirement for these jobs, it may be preferred by some companies, especially for senior or lead manager positions.
Market Research Analysts
Market research analysts need strong math and analytical skills as they specialize in studying the market conditions. They need at least a bachelor's degree, but a master's degree is likely needed for top research positions in an organization. Market research analysts examine consumer and market data to identify potential markets, understand market trends and measure the effectiveness of marketing strategies. Their work is presented in reports with understandable graphs and tables.
A master's degree is not strictly required to work as a sales manager, but some managers hold them. Sales managers oversee the activities of their sales teams. These managers look at the big picture to set sales goals and determine sales strategies, but they also take care of the details, such as preparing budgets and setting sales territories. Sales managers analyze sales data and monitor consumer preferences to help set prices, discounts or special offers. They may also help resolve any complaints issued by consumers and come up with ways to get new customers.
Public Relations and Fundraising Managers
Public relations managers work to generate a favorable public perception of their organization or client, while fundraising managers direct campaigns for raising funds for their organization. Some public relations and fundraising manager positions may require a master's degree, and a degree in marketing could help these professionals understand consumers and how to generate positive feelings toward their organization. Public relations managers also write press releases for their organization, prepare their clients to speak with the public and work closely with advertising, promotions and marketing managers to ensure that campaigns stay in line with the organization's image. Fundraising managers identify donors, apply for grants and implement other fundraising strategies.
Advertising and Promotions Managers
Similar to a marketing manager, advertising and promotions managers need at least a bachelor's degree, but they could benefit from the knowledge and experience a master's degree would bring. Companies may prefer to hire candidates with master's degrees for senior positions. Advertising managers focus on creating interest for a product through various advertising campaigns. They must understand what consumers want and use creative thinking to make a product or service the most appealing. Promotions managers work to increase sales of a product through purchasing incentives like coupons, discounts and contests.
A master's degree in marketing can be applied to several upper-level and management careers in business that aim to generate public interest in a product, service or organization. The leadership skills and knowledge of marketing gained from this degree program tie in well with the job requirements of the careers discussed above.