Masters Degree in Marketing

Marketing is a specialized field within the business industry. It involves researching the needs of customers, planning advertising campaigns, public relations, brand management and working with sales teams or product distributors. Marketing is sales support rather than sales and it requires a wide range of knowledge in many areas. A master´s degree in marketing prepares graduates for leadership roles in a field that is competitive and challenging. Marketing managers are influential in determining which products are released to the public and which products are successful.

Masters Degree in Marketing – Facts

Applicants for a masters in marketing degree program must have a four year degree from an accredited college or university and must have taken and passed either the GMAT or GRE exam. Some graduate programs require up to 3 years of business experience as a prerequisite for entering a master´s program. The program includes 30 to 36 hours of coursework and a master´s thesis and takes about two years to complete. Some students may choose special areas of study like market research, international marketing and marketing management.

Top Schools Offering a Masters Degree in Marketing

The five top ranked business schools for a masters degree in marketing are Northwestern University (Kellogg), University of Pennsylvania (Wharton), Duke University (Fuqua), Stanford University and Harvard University. Schools ranked in the top ten include Columbia University, the University of Chicago (Booth) and the University of Michigan (Ross). All of these programs require completion of a bachelor´s degree in business with at least a 3.0 GPA. Applicants for these programs must take the GMAT exam rather than the GRE.

Work Possible for a Masters Degree in Marketing

Many businesses require applicants for positions in market research to have a minimum of a master´s degree in marketing. Those seeking management positions in marketing also must have a master´s degree and work experience. Marketers work in public relations, advertising and customer relations and are in demand by businesses and non-profit organizations. Jobs are also available in the public sector as cities and states vie for tourism dollars, and specialists in international marketing may find positions at the federal level in the Department of Commerce and related agencies.

Salary and Outlook in Marketing

The projected growth for marketing jobs is about 13% over the next 10 years which is slightly above the 12% national average for all jobs. Competition for management positions will be keen and applicants with a master´s in marketing will have the best opportunities to advance in their careers. While there has been a recent decline in marketing jobs in the print media, new jobs have become available in television, radio and the internet.

The median salaries for marketers in management or market research often exceed $100,000 per year. Those in the field of computer systems design have the highest salaries with an average of $127,870 per year. Department store sales managers had the lowest median income at $54,000 per year, but these positions do not usually require a master´s degree. Entry level marketing positions requiring a bachelor´s degree averaged a salary of $43,325 per year. Salaries are affected by geographical location, individual specialty and the experience of the applicant.

Acquiring a master´s degree in marketing is a great way to understand the intrinsic aspects of how the various industries operate and survive. With this degree in hand, there are a number of opportunities available, even if applicants choose to specialize in one specific area.