Find out how a master’s degree in marketing can benefit your career. This post examines five important assets of the degree, from increased salary potential and formalized skill sets to expanded employment horizons, the importance of staying on the cutting edge of technology and the essential advantage of choosing an MSM instead of an MBA. Whether you’re a marketer who’s looking to move up or you’re starting a new chapter of your career in this dynamic field, this guide will help you make decisions that enrich your career.
Master’s in Marketing: What’s In It For You?
In recent years, business schools have seen increased interest in specialized master’s degree programs, even as applications and enrollments in full-time MBA programs have declined somewhat. One of the four most popular business master’s degrees offered today by business schools attempting to meet this shifting demand is a master’s in marketing.1
Below, we’ve outlined five key reasons why a marketing master’s degree can be a valuable asset for all kinds of professionals, regardless of their level of experience in the field.
1. A Master’s Degree Can Boost Your Salary
The statistics are clear: Master’s degree holders take home, on average, nearly 20% more in weekly earnings than professionals whose highest degree is a bachelor’s.2 If you work in the field of marketing but would like to increase your earning potential, a master’s degree could help you on that path.
A master’s in marketing offers multiple avenues for salary growth. The array of technological skills you will develop in a forward-thinking marketing master’s degree program can prepare you to take on more responsibility at your current company and seek increased compensation based on your new skills. A master’s degree will also make you more attractive to employers if you plan to reenter the job market. Many marketing master’s programs, such as the Online Master of Science in Marketing from William & Mary's Raymond A. Mason School of Business, include coursework in key business leadership competencies that can position you to move into a management role.
2. A Master’s in Marketing Program Will Formalize Your Skill Set
Business master’s degrees, in marketing or in any other specialty field, are ideal for people whose professional journeys have taken them in directions that they did not originally foresee. Not everyone who goes onto a successful career in marketing planned on doing so, and it’s quite common for marketing departments to contain employees with a diverse array of academic backgrounds, including a healthy number with degrees in English, history or other humanities.
If you’ve found yourself working in marketing without formal academic training in the field, a master’s in marketing could be your ticket to improving your practical skill set and knowledge of the reasoning and theory underlying current best practices. The curriculum for the Online MS in Marketing from William & Mary, for instance, is built around the Marketing Challenge: a thought-provoking, complex issue that you select at the start of the program. You’ll create multiple ways to address it, each grounded in the new material you encounter in the courses you take, and then synthesize them into a final deliverable recommendation in the program’s culmination. This experience empowers you with new strategic vision, expertise in digital marketing, and fluency in qualitative and quantitative analysis. You will graduate prepared for a career at the forefront of a growing, continually expanding field.
3. You'll Be Ready for a New Career or Advancement in Your Current One
According to the Bureau of Labor Statistics, individuals in the workforce will hold an average of 12 jobs over the course of their careers.3 Statistically speaking, that means that virtually everyone, including you, will be looking for a new opportunity from time to time. Marketing can be an exciting challenge for professionals who have spent time in other roles within business organizations but who are searching for a more creative outlet for their talents.
A master’s in marketing is a perfect point of entry into the field for professionals looking to make a pivot of this nature. A program designed to be completed in as little as fifteen months, such as the Online Master of Science in Marketing from William & Mary, can provide you with a new framework of skills and knowledge in a relatively short amount of time. This empowers you to seek a marketing position confidently, even if marketing is not a part of your professional background.
The right master’s in marketing program will equip you not only to start your career in this growing field, but to ascend to upper management and C-suite leadership. The expert, innovator faculty at William & Mary will train you to become a Renaissance Marketer: a 21st-century, visionary leader, fluent in using essential tools and techniques to make decisions and strategize for success.
4. A Master’s Degree in Marketing Helps You Stay Ahead of the Curve
As an industry, marketing is defined by constant change, as strategies and messaging must evolve to keep pace with shifting cultural sensibilities and improving technology. To accommodate this demand, the most valuable marketing master’s degrees emphasize the tools and skills that are at the cutting edge of the field.
Expertise in 21st-century marketing technology is essential for those who wish to thrive in any role in the world of digital marketing. Today’s marketing leaders are adept at the digital and analytics-based skills that drive innovative decision-making, while being capable and fluent in the rapidly evolving technology that defines the profession. If you’re considering pursuing a master’s degree in marketing, seek out a program that truly understands the importance of digital-first marketing leadership. William & Mary’s Online Master of Science in Marketing instills deep, far-reaching expertise in the digital tools, technologies and strategies used by forward-thinking marketers across industries.
5. You Can Earn a Marketing Master’s Degree More Quickly Than an MBA
One of the key differences between a master’s degree in marketing and an MBA is the expected time it takes to complete the degree. Specialized master’s degree programs, such as the 15-month Online MS in Marketing at William & Mary, typically require less time than the two years or more needed for conventional MBA programs. Given this timeline, a marketing master’s degree can be an extremely efficient path to career growth for any professional, whether you’re experienced in the field or just entering it.
Gain a Competitive Edge as a Forward-Thinking Marketer
The Online Master of Science in Marketing from William & Mary is a personally tailored experience for working professionals, designed to help you achieve your specific career goals. In this program, you’ll develop unique analytical, strategic and creative skills that comprise your first step toward a dynamic new career trajectory. Our world-class faculty provide an unparalleled education that trains you not only in the tools and techniques successful marketers use, but the mindset required for strategic, effective, empathetic leadership. At William & Mary, you’ll prepare to thrive in an ever-changing field, build a culture of openness on your marketing team, and view challenges not as obstacles, but opportunities.
- Retrieved on January 10, 2022, from poetsandquants.com/2019/01/21/most-popular-specialized-masters-degrees-in-business/
- Retrieved on January 10, 2022, from bls.gov/careeroutlook/2018/data-on-display/education-pays.htm
- Retrieved on January 10, 2022, from bls.gov/news.release/pdf/nlsoy.pdf