MBA In Marketing Salary
Organizations market services and products. Even nonprofit organizations market to help them achieve their mission. The Bureau of Labor Statistics (BLS) projects that demand for advertising, promotions, and marketing managers will increase by 8% by 2028. There are many reasons to consider getting an MBA in marketing online. For some, the choice may be obvious because business classes can enhance career growth opportunities. For others, an online MBA programs could be a requirement of the employer.
What Is an MBA in Marketing?
An MBA in marketing is a unique graduate degree that combines business training with marketing skills. It is an ideal qualification for anyone who wants to secure a senior management or leadership role in the corporate world.
An MBA in marketing is a graduate degree that focuses on the aspects of business management and marketing. The majority of programs are for working adults and can be completed in 2 to 3 years. Students learn how to lead, manage, and execute the marketing initiatives of a company. They also may focus on developing and implementing strategic plans or gaining an understanding of the overall market conditions within a specific industry.
Graduates with an MBA in marketing can take on diverse roles, such as marketing director, public relations professional, and advertising director. We outline below five potential careers for graduates and their expected salaries.
What Can You Do With an MBA in Marketing ?
Advertising and Promotions Manager
According to the BLS, advertising and promotions managers earn an average annual salary of $133,090. They work with other marketing professionals to produce collateral, such as photos, copy, social media posts, and commercials. Their goals also include working with marketing coordinators to help them achieve success.
Advertising and promotions managers have to be able to think creatively, provide creative concepts, write ads and messages, and develop effective communication strategies. These professionals are responsible for the development of a campaign, including all aspects of advertising. They may market a political candidate or support a nonprofit organization. They also help develop sales promotions to encourage consumers to purchase products or services.
Marketing Communications Director
According to salary.com, the average Top Division Marketing Executive salary in the United States is $243,228 as of April 27, 2021, but the range typically falls between $207,965 and $285,301. Marketing communications directors must possess strong communication and project management skills, which often requires interacting with people from a diverse range of backgrounds. They oversee the design and implementation of marketing strategies, as well as oversee the production and distribution of marketing and advertising projects. These directors work under the direction of senior management team members to ensure that the company meets its objectives by communicating with consumers via mass media and developing relevant marketing campaigns.
Chief Marketing Officer
Chief marketing officers (CMOs) bring their coordinated efforts to the forefront of a company’s marketing initiatives. Their salaries largely reflect this influence, as chief marketing officers make one of the highest average salaries among graduates with an MBA in marketing, earning an average of $175,439 per year as per Payscale.
A chief marketing officer oversees the creation and dissemination of content that is reflected in advertising, public relations, internal marketing communications, product management, and other forms of marketing communication. The role requires expertise in areas such as market research and strategic planning.
Marketing Manager
Marketers earn an average of $145,620 per year, according to the Bureau of Labor Statistics. There are many things to do and keep track of in a marketing role. These professionals help promote products, services, or missions. Managers of marketing typically oversee social media managers, plan campaigns, generate new ideas to reach target demographics, and evaluate marketing efforts depending on their organization.
Most industries include marketing managers, including media outlets and construction companies. It is expected that advertising, promotions, and marketing managers will grow by 8% between 2018 and 2028, according to the BLS.
Market Research Analyst
They gather information that helps marketing managers motivate consumers to buy products and services. Researchers interview individuals representing various target audiences to learn more about their values and spending habits. Their findings are presented in reports with straightforward charts and graphs.
Market research analysts earn an average salary of $70,960 per year, according to the BLS. Some of these analysts find employment at an agency that services many clients, while others work for one company. And, According to payscale, the average salary for a Market Research Analyst is $54,579.
Why Should You Get an Online MBA in Marketing ?
Online MBA in marketing degrees allow students to study key concepts in business, including operations management, production management, and finance. Courses also cover marketing analytics, strategic marketing management, and consumer behavior. Whether you are considering advanced education or already a working professional, pursuing an online MBA offers many benefits. MBA in Marketing programs with asynchronous formats provide more flexibility than synchronous programs, allowing students to watch recorded lectures and engage in discussions without attending classes at a set time each week. Also, check out our guide on scholarship for business majors and cost of a masters degree here.
Online MBA in Marketing Salary
Salaries for marketing professionals vary widely. The factors that affect compensation include job title, years of experience, position or hierarchy in the organization, and geographic location. Because marketing is an umbrella term encompassing many different disciplines, the best way to determine a salary range would be within a specific specialty. For example, marketing managers often earn much more than those working on the promotion side of things such as advertising or public relations.
A professional can work their way up the corporate ladder, but they need a master’s degree to reach certain salary levels. Table below illustrates the disparity in pay between similar marketing jobs requiring different levels of education. Check out our guide on landing a job here.
| Occupation & Degree Type | Average Annual Salary |
|---|---|
| Marketing Director (MBA) | $87, 232 |
| Marketing Coordinator (Bachelor’s) | $43, 943 |
Professional Organizations For Marketing
While the field of marketing is ever-changing, it’s important that professionals stay on top of the latest research and trends. Through professional organizations, marketing professionals can receive professional training, participate in continuing education programs, and access up-to-date research.
| Organization | Description |
|---|---|
| American Marketing Association | The American Marketing Association (AMA) offers a variety of resources for its members. The organization has more than 70 chapters across North America, and membership helps to support these groups. There are over 50,000 members in the American Marketing Association. Membership benefits include access to numerous markets and discounts on certifications and publications. |
Association of National Advertisers | Advertising professionals are represented by this organization nationwide. Members receive a free annual workshop, unlimited access to webinars and a subscription to an educational, industry-specific publication. |
| Data and Marketing Association | The Data and Marketing Association is a community of individuals interested in data analysis, optimization, and marketing analytics. This association provides its members with data and marketing analytics resources. |
| Legal Marketing Association | The Legal Marketing Association allows its members to enhance their marketing skills by providing access to templates and reports, research studies, and educational material about trending topics. |
| Public Relations Society of America | The Public Relations Society of America is the foremost organization that provides members with access to exclusive job boards, informative webinars, and discounts on professional resources. With more than 20,000 members world wide, it provides a wealth of knowledge and support for both newly entering the field and experienced public relations professionals. |
FAQs About MBA in Marketing Careers
What Certification Should I get in addition to an MBA in Marketing ?
Marketing professionals can earn certifications in addition to earning a degree to position themselves as desirable candidates for jobs. Certifications in areas like digital marketing, Google Adwords, and Facebook Blueprint can be earned.
Is an MBA in marketing worth it ?
People with the degree can take on rewarding and challenging jobs that pay high salaries and provide opportunities for career growth.
What jobs opportunities do graduates with an MBA in marketing qualify for?
A graduate may work in various roles, including marketing director, chief marketing officer, and public relations or advertising director. The marketing profession employs marketing professionals in almost every sector, therefore candidates have a wide array of options to choose from.
Is an MBA in marketing better than a master of marketing ?
A marketing MBA can also cover finance, logistics, and supply chain management in addition to marketing. Marketing masters degrees tend to focus on aspects only of marketing, making the MBA more versatile.