Many of us have found ourselves wondering, ‘why should I study marketing? I already have a job!’ If this sounds like you, then you’ve come to the right place. Here you’ll discover everything you need to know about the online PhD in marketing, including the requirements for admission, the qualifications, the job prospects, and the lifestyle. Read on to find out more.
The Demographics Of The Online PhD In Marketing
This group is made up of individuals who decided to pursue an advanced degree in marketing for a number of reasons. These include wanting to become a marketer themselves, wanting to switch gears and pursue a different career path, or even wanting to extend their existing career in marketing. Whatever the case, the population of online PhD students in marketing is growing and continues to diversify. For example, while in 2015 the majority of PhD students in market research were white, non-Hispanic, over 80% of PhD students in marketing are now comprised of individuals of color \-– specifically black and Hispanic individuals. Similarly, while the number of women studying marketing has increased by 58% since 2008, the number of men studying the subject has more than doubled, with a gender gap emerging in online marketing degrees.
When comparing the demographics of those studying online marketing to those studying traditional offline marketing, there are a number of key differences that may surprise you. For example, while those studying offline marketing are more frequently employed, those studying online marketing are much more likely to have their own businesses. In fact, 42% of those studying the subject already have a professional career versus only 23% of those studying traditional marketing degrees. Additionally, while the average age of students in the traditional classroom is 27, the average age of online PhD students in marketing is 35.
The Demand For Marketing Scholars
In 2016, there were more than 100,000 job openings in the field of marketing. This figure is anticipated to increase by 2020. Even more exciting is the fact that more and more employers are realizing the value of a well-rounded employee who is adept at taking on new challenges and learning new things. Additionally, many high-growth companies have begun embracing a culture of mentorship and creating an atmosphere that is encouraging and supportive of learning.
Despite all this, there is still a wide variety of careers available to those who graduate with a PhD in marketing. Possibilities include becoming an expert market researcher, an academic marketing professor, a brand manager, and a brand strategist. Many of the jobs available require extensive knowledge of both statistics and analytics, as well as the ability to analyze complex data sets and turn them into valuable information. Job seekers with a PhD in marketing can expect to earn an average of $61,000 per year.
Which Degree To Pursue
When comparing the job prospects of a professional with a Bachelors in marketing to those with a PhD in marketing, the latter has much brighter prospects. While many jobs remain available to those with a Bachelor’s degree, the competition is stiffer for those who have a PhD. This is especially the case in industries such as brand management, advertising, and sales where employers are seeking individuals who have an understanding of both marketing and communication processes (including the role that technology plays in each).
On the other hand, those who choose to study marketing for their personal interest have brighter prospects as well. Not only will they be able to find work immediately, but they can also look forward to a much larger range of job opportunities. Additionally, those who pursue a personal interest in marketing will be able to gain much valuable experience by doing so.
The Importance Of Industry Experience
Even those who have a genuine passion for marketing may eventually find that they lack the appropriate experience to enter the field. This is why it is so important that you gain as much experience as possible in your chosen career sector. Although this may mean that you have to take on some smaller, more local projects, you will eventually be able to take on much bigger and more prominent roles as you gain more relevant experience. Even if you ultimately choose to work in a different sector or for a different company, the experience you gain will still be valuable.
As a student, you’ll soon discover that having industry experience isn’t as easy as it seems. Just because you’ve worked in a number of different sectors doesn’t mean that you’re automatically qualified to take on a role in another area. The truth is, there is no automatic pathway to success in the field of marketing. However, by constantly improving your skills and learning from your experiences, eventually you will be able to show your worth and gain the recognition you deserve.
Get A Feel For How The Classroom Works
Marketing is a dynamic subject that continues to evolve as new technologies emerge and change the way we all engage with the world around us. Because of this, you’ll soon find that none of what you learn in class will truly be ‘new’ information. However, it’s important to take this in mind as you learn so you don’t become overwhelmed by the amount of information you have to process. For this reason, it is crucial that you develop the necessary tools to learn effectively. Fortunately, most reputable universities provide a wealth of information online, which saves you the stress of having to drag your textbooks around with you every day.
To this end, some of the best universities fully integrate their curricula and resources online. This allows you to learn at your own pace and on your own time, as well as gain an in-demand skill that can put you in touch with some of the best minds in your industry.
Even if you ultimately decide to pursue an academic career in marketing, you should still continue learning on the job. Not only will this help you get a better feel for how the ‘real world’ operates, but it will also give you a leg up on the competition.