Today’s job market is ferocious, especially in competitive fields like marketing. And newcomers are doing everything in their power to try to get an edge. But still not enough to realize how much of an impact having an MBA degree in their back pocket could have on their career.
MBAs learn a variety of skills that not only make them great marketers but also great leaders. And as a marketing professional, you already possess some of the core qualities that make you suitable for an MBA program. Here are some of the reasons all marketers who want to advance their careers should consider getting an MBA.
You’ll Get a More Complete Understanding of Business
Only understanding the marketing and part of the sales aspect of business can be limiting; having a holistic knowledge of it can only help you as a marketer. It can help you understand things like cost-benefit better and understand how campaigns are actually affecting the bottom line. IT, marketing, and operations are more intertwined than ever, and it’s important that the marketers of today understand relevant business strategies and how all these moving parts should operate as a whole.
Big Data is also a game-changer and it strengthens the relationship between these departments. Data derived from consumer insights can now be crunched, analyzed, and acted upon in real-time, and marketers who understand how to gather this data, while making decisions based not only on advertising, but on everything from supply chain management, development, production, and distribution, will have a significant leg up over the competition.
Invites Students to Think Differently
A lot of people might question the relevance of the leadership and managerial skills taught in an MBA for marketers, but they couldn’t be more wrong. MBAs teach students how to think out of the box and see the big picture. Without big thinking, it’s impossible to tackle challenges like reaching growth goals or meeting customers’ needs.
Learning how to problem solve and work as a team are all traits employers look in their marketing team, which could help you stand out as a star candidate.
Better Career Prospects
With your knowledge of both marketing and the managerial side of things, you’ll be nearly unstoppable. Not only will you be qualified for more positions, but for much higher pay as well. Not to mention that a growing number of high-level marketing positions require that you have an MBA nowadays or a relevant master’s degree.
Getting an MBA could open you up for positions such as market research analyst, sales manager, or promotions manager. The most beautiful part is that you don’t even have to leave your current position. Institutions like St Bonaventure University offer one of the finest online MBA New York has to offer, and you’ll get the same qualifications as any other MBA graduate, without the hassle.
As of May 2018, the median income for marketing managers in the country was $132,620 per year. The demand for marketing managers is also set to increase by 8% by 2028, which is above the national average.
You’ll be Equipped for the Changing Landscape of Marketing
Marketing is one of the fastest-changing fields, and marketing today is nothing like it was 10 years ago. Those who can’t adapt to new realities in this world get left behind and replaced, fast.
MBAs are taught from the beginning how to adapt to changing marketing realities and find solutions. They learn how to be flexible and make quick but informed decisions on a dime. But more importantly, they make decisions that not only increase a brand or product’s visibility but understand that ROI is the ultimate measure of a marketing campaign.
You’ll Gain an Invaluable Network of Resources
One of the best parts of getting an MBA as a marketer is that you’ll make invaluable connections that will benefit you throughout your marketing career. You’ll have the chance to build relationships with teachers who have been through the ropes before and have often held positions in blue-chip companies. Being able to count them as contacts is something that will always benefit you wherever you go.
As you can see, getting an MBA could be a great opportunity for any marketing professional who wants to take the next big step. It will give you a better understanding of how marketing decisions can affect the whole operation and make you a valuable player in any marketing team.