Why do an MBA in Marketing? 10 Best MBAs and Your Salary Prospects

For mid-career professionals who want to pursue a career in marketing, earning an MBA in Marketing is a practical career choice. MBAs tend to be fairly general management degrees, but adding a specialization in marketing can make your degree even more marketable.

So what is an MBA in Marketing? Many business schools offer students the opportunity to choose from several specialties, or majors, upon graduation. One of these specialties is marketing.

Students pursuing their MBA in Marketing will undertake a two-year multidisciplinary study program. The program will likely require a number of core MBA courses, an experiential learning element, core specialization courses and electives focusing on various aspects of marketing strategy, analytics and other subjects.

one of many MBA specializationsAn MBA in Marketing is perfect for professionals who want to work in marketing leadership and those who want to move into marketing from other career paths.


Best MBA Programs for Marketing

The best MBA for marketing in the United States is offered at the Kellogg School of Management at Northwestern University.

Ranked number one in US News & World Report’s list of Best MBA Marketing Programs 2022, the program offers a marketing major that equips students with the customer behavior and marketing analytics tools needed to create lasting customer advantage, depending on the school.

Kellogg’s Marketing MBA is known for its Career Management Center, which helps place graduates in relevant marketing jobs upon graduation.

The second-best marketing MBA in America is at the Wharton School at the University of Pennsylvania.

Wharton offers 18 different MBA concentrations, including Marketing and Marketing and Operations (a joint major). According to Wharton’s Admissions Department, the marketing major “investigates fundamental approaches to understanding markets, competitors, and portfolios of product offerings and operating technologies.”


Top 10 Best MBA Programs for Marketing (US News)

1. Northwestern University (Kellogg)
2. University of Pennsylvania (Wharton)
3. Stanford University
4. University of Michigan, Ann Arbor (Ross)
5. Duke University (Fuqua)
6. Harvard University
7. Columbia University
8. University of Chicago (Booth)
9. UT Austin (McCombs)
10. New York University (stern)


In addition to Marketing MBA programs in the United States, Nanyang Business School in Singapore, CEIBS in China, Esade in Spain, SDA Bocconi School of Management in Italy, and HEC Paris in France also offer some of the best Marketing MBAs in the world.

Christina Poole left the United States to study at HEC Paris and landed a high-level marketing position at Nike after graduation.

“I wanted to go into industry rather than consulting after my MBA and HEC Paris had very good relationships with the big Fortune 500 companies,” she says.


Best Marketing MBA Jobs

What can you do with an MBA in Marketing? Before we dive into the details, here’s a brief list of the most common roles MBAs in marketing get after graduation, according to mba.com:

– Marketing Manager
– Advertising Director
– Responsible for promotions
– Market analyst
– Brand manager
– Marketing Director

In general, marketing is an incredibly diverse field filled with both generalists and specialists, so the options for MBA marketing jobs are diverse. Marketers are needed in the public, private, and nonprofit sectors, although salaries can vary widely by industry.

Typically, marketers are incredibly strategic thinkers who also have excellent communication and analytical skills. This applies to marketers at the entry level, as well as at the executive level.

Your MBA in Marketing will prepare you for high-level and leadership positions, where you will be responsible for determining strategy and delivering results.

Your MBA program can cover industry-specific topics such as strategic planning, forecasting and modeling, market research, digital marketing, communication, branding, social media management, advertising, data analysis, copywriting, cross-channel marketing strategy, sales force management… The list is varied and depends on your specific program.

The skills acquired in an MBA in Marketing program will prepare you for positions such as marketing manager, communications manager, market research analyst/manager, public relations specialist, and advertising/promotions manager. You will also be qualified for related roles, such as sales manager.

If you come to your MBA program with significant experience, you may be prepared to apply for senior executive or director positions after graduation.

The Bureau of Labor Statistics (BLS) predicts that demand in the United States for advertising, promotions, and marketing managers will increase 10% by 2030.

Among these marketing roles, the BLS predicts that the demand for market research analysts will increase by 23% between 2016 and 2026.


Read: Should I Choose a Marketing MBA or a General MBA?

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MBA in Marketing Salary | How much can you earn?

Payscale reports that the average base salary in the United States for a professional with an MBA in marketing (also known as a degree in marketing and management) is $103,000 per year.

The salary range for a marketing manager is $74,000-$174,000/year, a senior marketing manager is $84,000-$145,000/year, and a marketing manager is $54,000 $ – $119,000/year.

According to the BLS, the median CMO salary was $141,490 in 2020, or $68.03 per hour – this figure seems a bit inflated, but is consistent with the concept that marketing MBAs are qualified to earn very competitive salaries after graduation.

Given these ranges, what determines your Marketing MBA salary? Ultimately, your salary will be determined based on several criteria, including your personal experience, specific role, location and size of your business, and industry.


Types of Marketing MBAs

There are many options for students who want to pursue an MBA in Marketing: full-time, part-time, accelerated, in-person, online, hybrid MBA in Marketing. Determining the type of program you wish to participate in will depend on your personal circumstances.

Regardless of format, Marketing MBA programs typically require a bachelor’s degree, GMAT or GRE score, several years of relevant work experience, letters of recommendation, resume, and personal statements.

Full-Time vs. Part-Time MBA in Marketing

A full-time MBA program will take about two years to complete and part-time programs can take up to three or four years. The programs are pretty much the same, and many programs offer both options. Either way, you’ll be attending the b-school with a cohort of students and maintaining a regular class schedule.

Accelerated MBA in Marketing

Some business schools offer accelerated MBA programs, which can take as little as 18 months. Other universities offer BA to MBA programs, which allow you to earn both degrees in a compressed five-year time frame.

Online Marketing MBA

For “non-traditional” students, online marketing MBAs are increasingly popular because they allow you to continue working, traveling, and raising a family while attending classes on your schedule. Due to covid, many formerly in-person programs now offer hybrid options: an online portion and an in-person portion.

MBA Marketing Specialties

In addition to the various program schedules, there are also several marketing MBA sub-specialties to pursue. For example, if you want to follow a specific career path, you can choose to earn your MBA in Digital Marketing, which would focus on online channels such as search and display advertising, search engine optimization, email and social media.

An MBA in Sales and Marketing would prepare you to work hand-in-hand with a sales team, often in an analytical and data-driven role.


MBA vs Masters in Marketing

Why choose an MBA in marketing rather than a master’s in marketing?

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An MBA Marketing concentration is geared toward mid-career professionals who already have business experience. A master’s degree in marketing is preferred for new graduates with less than two years of work experience.

Career Options

MBAs have the opportunity to apply for leadership positions after graduation. Marketing master’s graduates typically enter the job market at the entry level, with titles such as marketing analyst or marketing coordinator.

Curriculum

Some programs offer the same core and elective courses for MBA and master’s candidates, but MBA candidates will need to take general management courses in topics such as finance, business strategy, accounting, and operations. Masters in Marketing students are more likely to study a specific field in great depth.

Chronology

Most Masters in Marketing programs last one year and most Marketing MBAs last two years.


Marketing is an exciting and diverse field, with something for everyone. As the demand for marketers with leadership and general business skills increases, so do salaries.

If this interests you, pursuing an MBA in Marketing can be an exciting challenge. Or maybe you are interested in another MBA specialization.

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