An MBA is a Masters of Business Administration degree that is a commonly accepted route to a successful career in marketing. While an MBA doesn’t completely teach you everything you need to know about marketing, the majority of classes do cover the essential knowledge and skills you will need to succeed in the field.
What is marketing?
Simply put, marketing is the action of getting people to willingly spend money on your products or services. It is a wide area that can include everything from marketing your website to getting customers to purchase your product to marketing your organization itself. Marketing is often considered to be a mix of science and art, and while that might be somewhat true, it is more accurately described as science and commerce.
Why Study Marketing?
With the rise of digital marketing and social media, many companies have pivoted to focus on marketing strategies rather than spending significant amounts of money on traditional marketing methods such as TV commercials or billboards. As a result, many traditional marketing jobs, including advertising agencies, have seen major job losses. This has also contributed to the decline of many traditional advertising mediums such as newspapers and magazines as people have shifted to seek out news and content online rather than through traditional mass media channels.
Types of MBA in Marketing
There are several different types of MBA in Marketing degrees that you can get. When choosing an MBA in marketing, make sure that you are aware of the various options that are available to you. Some of the more common types of MBAs in marketing are:
- Full-time: If you are worried about paying for your college education, consider getting a part-time MBA. Most full-time MBA programs require you to take at least some classes each semester and attend regular office hours. In return, you get a well-rounded education that also provides you with something to fall back on when you are done paying for your studies.
- Part-time: If you don’t have the time to commit to a full-time program, consider getting a part-time MBA. Like a full-time MBA, a part-time MBA will require you to take at least some classes each semester and show up for regular office hours. However, because you aren’t in full-time school as much, you will have more free time to devote to your studies. In addition, if your school is located in a different city or state, you may be able to get some of your classes online.
- Online: If you want to stay ahead of the game and get your MBA completely online, there are several reputable online MBA marketing degree programs that you can choose from. You will have to complete all of your coursework online and will be responsible for maintaining your own academic record. However, you won’t have to worry about finding a job in-house as many big companies now offer full-time online MBA programs. All you have to do is apply and get accepted.
- Hybrid: If you want to get both a job and an education, consider getting a hybrid MBA. Just like the name implies, a hybrid MBA is a combination of part-time and online studying. You will study online for most of the day, but attend enough classes and spend enough time in the classroom to meet the requirements of most full-time MBA programs. In addition, many schools that offer a hybrid MBA also have part-time options, so you have some flexibility in terms of when you begin studying.
How is an MBA in Marketing different from other business degrees?
An MBA in Marketing is very similar to a traditional business administration degree. However, unlike most business degrees, an MBA in Marketing is considered to be a much more in-demand degree. In fact, according to LinkedIn, there are currently over 300,000 jobs available in marketing, a significant increase from the approximately 150,000 available jobs in traditional business administration.
As a result of this increase in demand, the salaries of MBA graduates are also on the rise. The average annual pay for an MBA is $85,000, a 33% increase from the $64,000 that business administration graduates can expect to earn.
MBA in Marketing Vs. Other Business Degrees
When choosing between getting an MBA in Marketing or another business degree, it is important to consider the differences in terms of the jobs that each degree will land you. Just because you get an MBA doesn’t mean that you are guaranteed to get a job in marketing. In fact, according to Forbes, engineering, economics, and business degrees each have a 40% chance of getting you a job in a related field. However, if you are looking for a more specific field, you should consider an MBA in Marketing.
An MBA can land you a job in a wide variety of industries including marketing, management, and economics. If you are looking for a more specific niche, an MBA in Marketing can help get you there. In general, though, an MBA is a great start to a career in business and beyond.