For individuals seeking an in-demand specialization with rising salaries and a job outlook above the national average, an MBA with a concentration in marketing offers the competitive edge they need to land the job of their dreams.
Specializations in Demand
Most large organizations that are hiring new MBAs are increasingly requiring candidates to have a specialization in their chosen field. Recruiters and hiring managers now often expect their marketing candidates to hold an MBA with a marketing specialization.
While an MBA generalist degree offers graduates a solid foundation in business management knowledge, a marketing concentration prepares students for a wide variety of marketing management, specialist and analyst positions.
Given the rise in the number of undergraduate degrees awarded over the last two decades, employers in the marketing sector expect to fill positions such as marketing manager and brand manager with candidates who hold degrees focused on the marketing specialty.
Marketing MBAs in Demand Across the Country
No matter where you live, demand is high for marketing MBA graduates, with projected job gains into the next decade. According to PayScale, the most popular cities for marketing MBAs cross all geographic locations include Chicago, New York, San Francisco, Seattle and Dallas. An MBA with a marketing specialization can help you stand out for jobs, whether you’re moving up the career ladder or are new to the job market.
Marketing MBA Salaries
Marketing is now one of the most popular specializations for MBA candidates according to U.S. News & World Report. A marketing MBA pays off not only in improved job prospects, but also in higher starting salaries.
When weighing the costs and benefits of attaining an MBA, the value cannot be overlooked. Last year, median base salaries for MBAs, which represented a premium of 17 to 58 percent over bachelor’s-level starting salaries, are projected to increase.
According to Monster.com, MBA graduates with a marketing concentration can earn an average starting salary of $102,000 a year for marketing managers. Business development managers average $105,000 per year, and marketing director salaries can be as high as $133,000 per year, with experienced candidates enjoying the highest salaries.
Future Job Outlook for Marketing MBAs
As the economy continues its upward swing and companies expand their hiring, MBA graduates will continue to be in high demand, with the job outlook in the marketing sector projected to remain strong. According to the Graduate Management Admissions Council’s (GMAC) annual Corporate Recruiters Survey Report, 86 percent of responding companies planned to hire new MBA graduates in 2017, up from 79 percent in 2016. That amounts to more than eight in 10 employers. Projections for 2018 show that the trend will continue its upward climb, with companies planning to hire more specialists.
Current hiring trends and an increased demand for specialists mean that the value of an MBA with a concentration in marketing will continue to pay off for years to come.