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Why Should Marketing Professionals Consider an MBA?

Median starting salary for MBAs is $95,000

If you are a marketing professional considering your future, the question of whether you should earn a Master of Business Administration degree might arise. To answer that, you must weigh the time, energy and money a graduate program requires against the potential benefits.

Increase Your Income

The SOSU MBA in Marketing consists of the traditional MBA core along with courses in Marketing Management, Social Media Marketing, and Consumer Behavior. Earning an MBA in Marketing can be an investment in your future earnings; many MBA graduates earn more than their undergraduate counterparts. For example, a 2015 report from the GMAC lists the median starting salaries for employees with MBAs at $95,000, significantly higher than the starting salaries of $50,000 for employees with only bachelor’s degrees. According to research from the U.S. Bureau of Labor Statistics, those who earn an MBA in Marketing, such as market research analysts, marketing specialists and marketing and sales managers, earn 38 percent more than employees with only undergraduate degrees.

While enrolling in an MBA in Marketing program requires an upfront financial commitment, research shows that, on average, MBA graduates recoup their costs within four years of graduation. A 2016 report from GMAC shows that the ROI is even faster for graduates of online MBA programs: only 2.5 years.

Become Part of a Growing Field

An MBA in Marketing can increase your qualifications in a growing industry. According to the U.S. Bureau of Labor Statistics, marketing managers and market research analysts are both in demand, with employment prospects in these fields expected to grow faster than average (9 percent and 19 percent, respectively) from 2014 to 2024.

Recent GMAC research indicates that 75 percent of employers plan to hire MBA graduates in 2016, and when GMAC surveyed over 14,000 MBA or other graduate business school alumni in 2015, 92 percent were employed. However, the competition for these positions is also growing. A master’s degree — including an MBA in Marketing — can improve your chances of securing your dream job.

Advance Your Career

Though there are many jobs in the marketing industry that only require an undergraduate degree, higher-level and leadership positions may require an MBA. In the case of jobs involving technical research, like market research analysts, a master’s degree is often necessary. It is common for analysts to study statistics or marketing — or to earn an MBA to open up advanced career opportunities.

Furthermore, according to recent GMAC data, 73 percent of business school graduates surveyed credited their faster career advancement to their degrees, with almost 50 percent of respondents employed in senior- or executive-level positions.

Employers are attracted to the combination of business expertise, leadership skills and commitment to professional development that the MBA symbolizes. In a 2015 report from GMAC, 96 percent of employers who responded to the poll said that business school graduates create value for their companies. Additionally, GMAC’s 2015 survey of MBA or graduate business school alumni reports that the majority of respondents said they considered their graduate education personally (93 percent), professionally (89 percent) and financially (75 percent) rewarding.

For marketing professionals looking to increase their earnings, build career advancement opportunities, and work in a field with promising job prospects, an online MBA program in marketing offers many advantages.

Learn more about the SOSU online MBA in Marketing program.


Sources:

http://www.bls.gov/careeroutlook/2015/article/should-i-get-a-masters-degree.htm

http://www.mba.com/us/the-gmat-blog-hub/the-official-gmat-blog/2015/feb/accelerate-your-business-career.aspx

http://www.gmac.com/market-intelligence-and-research/research-library/measuring-program-roi/2016-alumni-perspectives-survey-report.aspx

http://www.bls.gov/ooh/management/advertising-promotions-and-marketing-managers.htm#tab-6

http://www.bls.gov/ooh/business-and-financial/market-research-analysts.htm#tab-6:

http://www.gmac.com/market-intelligence-and-research/research-library/measuring-program-roi/2016-alumni-perspectives-survey-report.aspx

http://www.gmac.com/market-intelligence-and-research/research-library/employment-outlook/2015-year-end-poll-of-employers-report.aspx?fromsearch=1

http://www.bls.gov/ooh/business-and-financial/market-research-analysts.htm#tab-4



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