Master of Business Administration or MBA is one of the most in-demand degrees around the world today. Typically a two-year program, an MBA allows you to specialize in a particular subject, such as finance, marketing, operations management, human resource management, etc.
In recent years, core marketing courses have gained popularity among aspirants due to the vast job opportunities they offer. Let us see why MBA in marketing is a preferred choice for students and what makes it desirable for employers. Learn more about career options after MBA.
One of the top reasons to go for an MBA is to broaden your career prospects and salary potential of MBA. Besides, it is a holistic learning experience that enables you to develop both your technical and soft skills. The professional connections you make in your B-school can last throughout your life, providing direction to your career at every stage. Find list of skills MBA help you to improve.
So, when you are considering earning an MBA, you should evaluate the benefits of choosing specific course topics. To facilitate this analysis, we have compiled the advantages of opting for a marketing specialization below.
Why MBA in Marketing
Greater Career Advancement Opportunities
An MBA in Marketing can help you get a job promotion and qualify for management and executive positions in your current company. Since postgraduate business programs emphasize developing leadership and communication skills, graduates can advance to marketing positions with great ease.
Whether you are interested in sales, business development, media and entertainment, advertisement, brand management, or even general management, these skills form the heart of any senior-level role. Technology has further augmented the marketing world, adding new creative areas and innovative job profiles to the mix.
Scope for Increased Earnings
A master’s degree can provide a significant boost to your compensation package. According to Payscale, the annual salary for holders of an MBA in marketing ranges from Rs 3 lakh to Rs 20 lakh, depending on the seniority, company, and sector. Some of the leading recruiters include Tata Consultancy Services, Vodafone, Amazon, Citibank, HDFC Bank, and Kotak Mahindra Bank. Even FMCG giants (like HUL, P&G, Marico) and international advertising agencies, including Ogilvy, DDB Mudra, Dentsu, McCann Erickson, etc. hire marketing graduates.
Moreover, reputed technology companies like Google, Microsoft, Facebook, Oracle, SAP, IBM, Salesforce hire MBA talent for several marketing positions. So, the job responsibilities that come with lucrative pay scales can be diverse and widely varied. Learn more about MBA salary in India.
The typical MBA in Marketing programs is structured to prepare you with the ‘core’ business coursework and supplement that understanding with marketing-specific electives. The core subjects focus on finance, human resources, accounting, corporate management, organizational behavior, etc.
On the other hand, the elective courses zero in on topics like market research, consumer behavior, product management, brand management, strategic selling, and promotional campaign management.
As a marketing manager, you may have to analyze the demand for a particular product or perform a Cost-Volume-Profit analysis to determine the break-even point. Here, your B-school teachings will come handy. Therefore, the program is designed to equip you with a strong foundational knowledge of business administration and marketing concepts. And this learning can be applied across different industries and career fields.
Learn more: How to Select the Best MBA Course?
Avenues for Skill Development
The rich skill-set of graduates is one of the factors why MBA in marketing candidates have garnered popularity among modern-day recruiters. Your life in B-school adds to your analytical thinking, communication prowess, and your ability to lead and deliver strategic projects.
As the coursework includes projects and assignments that often require you to work in teams, your interpersonal and problem-solving skills receive a considerable upgrade. Moreover, you work on tight deadlines with continuous performance evaluation, preparing you for the workplace environment.
Enriched Job Responsibilities
Marketing is a vast field with a variety of sub-sectors. With an MBA in marketing, you can work in the following roles in any industry:
Tasked with evolving marketing strategy along with attracting and retaining customers.
Market Research Analyst
Devises methods of collecting data, analyses data to derive insights, and then, coveys the information to the business development teams. Analysts play a crucial supporting role in the development of marketing strategies.
Entrusted with planning and selecting advertising media, closely working with the marketing team to achieve targets.
Responsible for promoting and placing the brands and researching about the rival brands.
Sales Manager: Sets targets for the sale of products and services and monitors the customer service and distribution functions.
Digital Marketing Manager
Manages the digital presence of the company undertakes marketing of its products on web-based platforms and online channels. This includes avenues such as website content, Social Media Marketing, Search Engine Optimization (SEO), Pay Per Click (PPC), content marketing, etc.
One of the biggest advantages of getting an advanced business and marketing and qualification is that multiple industries are open for entry after the completion of your degree. You can work in the FMCG sector, IT industry, consultancy, advertising, banking, retail, hospitality, and even venture into academics. Job opportunities are available in public as well as private sectors.
Moreover, technological advancement across the globe has widened the concept of marketing and given rise to remote and online modes of work. The digital revolution is still continuously shaping the world we live in, changing the way we interact and buy.
Hubspot’s marketing hiring trends report points to a sharp rise in employment in digital marketing as well as traditional marketing roles. And the scope of marketing is only going to amplify further. With industry expansion and high consumption levels, the overall demand for marketing professionals will pick up in the coming years.
With this, we have covered why MBA in marketing is a suitable fit for the contemporary business world. MBA courses with marketing specialization are available in both on-campus and online formats across Indian colleges and abroad. Before enrolling in a program, you should research your options and consider all the pros and cons. The above information will help you arrive at a decision!
Liverpool Business School & upGrad offers Global MBA program which helps you to transform your career. The program provides 1-on-1 mentorship from industry leaders, 1-week immersion program at University campus, dual credentials (MBA from LBS & PGPM from IMT), network with peers at offline basecamps and more.
Learn MBA Courses from the World’s top Universities. Earn Masters, Executive PGP, or Advanced Certificate Programs to fast-track your career.
What are the advantages of an MBA in marketing?
MBA in marketing has many advantages. One of the biggest advantages of a marketing role is that you are likely to get a higher salary. This is because a marketing role is directly linked to business growth. Another edge you will have is that multiple industries will be open for entry after the completion of your MBA. You will have job openings in FMCG, IT, banking, retail, academics, etc. Career opportunities will be available in public as well as private sectors.
What are the opportunities and salary I can expect?
An MBA in marketing can give a boost to your salary. Average salary in marketing is approximately INR 8 lakhs. Salaries could be higher if you have relevant work experience. You can get umpteen roles and opportunities in marketing. You can choose to be a marketing manager in which your main role is to garner clients. You can become a market research analyst and analyse data to derive business insights. You can also be a media planner and focus on advertising media. You can choose to be a brand manager. Another evergreen role is of a sales manager focusing on achieving targets.
What skills are learnt in an MBA in marketing?
Many skills are honed in an MBA in marketing. Communication skill is a life skill. Once you nurture this, you can effectively communicate with clients, colleagues, and the entire professional world. Another extremely important skill is time management. Meeting high-pressure deadlines, achieving targets, being prepared with presentations are related to how well you manage your time. Leadership skill is highly desired in an MBA in marketing graduate. You can use these skills to influence people around you in the right way. Analytical skills will go a long way in helping you spot problems, patterns, etc. Strategic thinking will help you understand and control situations.
What is the structure and course material of a marketing MBA?
An MBA course is generally two years long, though are one-year long variants as well. An MBA with a specialization in marketing shares a lot of common courses with a general MBA course. This means that your first year would be the same as a general MBA (courses like finance, strategy, operations, etc.) and you would study your unique marketing-centric topics in the second year. These topics range from brand management and social media marketing to luxury marketing and consumer behavior. Also, you can choose a marketing related topic for your final dissertation at the end of the degree.
What are some institutions in India and across the world that provide top quality MBA programs?
The best MBA programs in India are provided by our premier institutions for management, namely the IIMs. The top IIMs for marketing MBA are in Ahmedabad, Bangalore, and Calcutta, in that order. The Indian school of Business in Hyderabad also offers a highly rated MBA program, and is followed by some other institutions such as FMS Delhi, IIFT Delhi, and SPJIMR Mumbai. If you’re looking to study an MBA outside the country, you have a few more options. Most of these, including but not limited to Stanford, Northwestern, UCLA and Harvard are situated in the United States. Spain also has two names in the top ten, namely ESADE and the IE business school.
What are the day-to-day responsibilities of a marketing manager?
A marketing manager needs to have a fundamental understanding of how people work. Their job is to unite clients with the products they need, oversee promotional events, and improve client retention. This means that they must be able to not just attract clients but also hold on to them. Marketing managers organize promotional events at trade shows and other venues to increase the reach of their organization. They develop and implement marketing campaigns that evolve dynamically according to the situation while staying within budget. Lastly, they communicate with senior management about marketing initiatives and project metrics.