Business professionals considering a graduate degree in business may wonder what specialty is right for them. With so many areas of focus available, it can be difficult to choose. If you want a challenging, evolving, and well-paying career after graduation, consider a Master of Business Administration with a Concentration in Marketing.
Challenge in Change
The evolution of technology means consumers are changing the way they interact with media and businesses. As such, companies need innovative marketing professionals to make their brands appealing to modern consumers.
Vast amounts of data, the changing role of marketing within companies, an increased focus on digital strategies, and an expanding global marketplace are just a few of the challenges marketers face today. If these challenges sound appealing, then an MBA with a marketing concentration may be the right choice for you.
Great for Lifelong Learners
People with an appetite for information may thrive in a marketing role. It falls to marketers to learn everything they can about their consumers. Just when you think you have your client figured out, something may change, and there's more to learn.
Furthermore, the fact that marketing relies on new technology and innovation makes it an excellent field for the lifelong learner. As technology continues to change, so will the strategies and the research. Tomorrow's marketing professionals will need to learn and adapt.
It's a Booming Industry
Whether you want to be a marketing manager, an analyst or some other type of marketing professional, you can expect to see significant growth in your intended field over the next decade. The U.S. Bureau of Labor Statistics estimated that the number of jobs for advertising, promotions and marketing managers could grow by 10 percent between 2016 and 2026, which is faster than average. The job growth rate is even more promising: The number of openings for market research analysts may grow by 23 percent in the same time period.
The Pay Is Good
Your education is an investment, which makes your earning potential an important consideration. Poets & Quants reported that marketing-focused MBA graduates receive an early-career median pay of $61,700 per year, with mid-career earnings touching $123,000.
The report found that an MBA is significantly more valuable over time than a different master's degree in a similar field. "... a marketer with an MBA will earn $110,000 more in years 16-20 than their peer who holds a master's with a marketing concentration," the report said.
Additionally, Monster.com named marketing as one of seven high-paying MBA majors.
The field of marketing is ideally suited for professionals who enjoy a good challenge and want to spend their lives learning. As technology changes, marketers will need to grow and adapt to be successful.
Since an MBA is a significant investment of time, effort and money, it's important to consider the financial implications of earning such a degree with a marketing concentration. This field is growing significantly faster than average in the United States and pays well over the course of a career. Considering all of these factors, it's easy to see why marketing is a top MBA concentration.
Learn more about the Southern Oregon University online MBA program with a Concentration in Marketing.
Sources:Monster: Best-Paying MBA Majors
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