Is a master’s in marketing worth it?
Are you interested in enrolling in a marketing master's degree program? Read our guide to learn if it is worth it and what factors you should consider before enrolling.
Whether you're interested in strategic management, communications, or general marketing, a master's in marketing could equip you with the real-world skills you need to advance your career.
Depending on your specialization, a master's in marketing curriculum may cover how to formulate a marketing strategy, perform market research, and balance brand storytelling with marketing analytics.
So is a marketing degree worth it? Weighing the benefits against the cost can help you decide.
How can I benefit from a master’s in marketing?
A master's in marketing can qualify you for higher-level positions, teach you valuable new skills, and enable you to keep up with the ever-evolving marketing landscape. Benefits of earning this degree can include:
Higher earning potential
A master’s in marketing can boost your salary. According to the Bureau of Labor Statistics (BLS), market research analysts earn a median of $76,950 per year, while marketing managers earn a median of $161,030. Employers may prefer to hire candidates with master’s degrees for management roles.
Expanded career opportunities
The marketing field offers several career advancement paths, including in product development, brand management, and digital marketing. A master’s degree can open new doors to marketing careers, including management roles. Marketing managers can make over six figures and benefit from a strong job growth outlook between 2024 and 2034.
Advanced marketing skills and expertise
With a master’s degree, marketing professionals can advance their expertise in areas such as marketing analytics, digital marketing, and marketing strategy. These advanced skills can help marketing professionals move into specialized roles. A master’s degree also signals expertise to potential employers.
Professional networking opportunities
Marketing graduate programs offer many networking opportunities, including with classmates and faculty. Participating in internships, professional associations, and career services events can also help you expand your network and transition into the workforce after graduation.
Industry demand and job outlook for marketing careers
The demand for marketing professionals shows no signs of slowing in our advertising-driven world. According to the BLS, jobs for market research analysts are projected to grow by 7% from 2024–34, adding an average of 87,200 new positions each year.
The BLS projects roles for advertising, promotions, and marketing managers to grow by 6% over the same period, with roughly 36,400 annual job openings.
Return on investment for a master's in marketing degree
For many students, the return on investment (ROI) of a master's in marketing is positive. Your exact ROI depends on the total cost of your chosen program and your post-graduation salary.
For example, the National Center for Education Statistics (NCES) cites an average annual student budget of $22,457 for a master's in marketing with a two-year average program timeline. And according to the BLS, market research analysts made a median salary of $76,950 in 2024.
Therefore, a market research analyst could see a positive return on their investment given their salary.
Cost of a master's degree in marketing
According to NCES, the average student budget for a master's in marketing was $22,457 annually in 2020. However, program costs depend on a learner's specialization, school, fees, and supplies. As you consider enrolling in a program, consult each school's tuition information and apply for financial assistance if needed.
Is it better to get an MBA or a master's in marketing?
Whether a master's in marketing or an MBA program is better for you depends on your education and career goals. A master's in marketing focuses specifically on marketing strategy skills, while an MBA emphasizes business acumen and leadership skills, often with opportunities to specialize in areas such as marketing.
If you're only interested in marketing courses, a master’s in marketing may be the right fit. If you want a broader business foundation with the option to focus on marketing, consider an MBA.
- Core classes in accounting, finance, leadership, and strategic management
- Option to specialize in marketing and take classes in marketing strategy and analytics
- Often requires GMAT/GRE scores for admission
- Program lasts 1–2 years
- Career options include broad management roles
- Core classes in marketing analytics, consumer behavior, and marketing research
- Specializations include digital marketing, marketing analytics, and international marketing
- May require GMAT/GRE scores for admission
- Program lasts 1–2 years
- Career options include focused marketing management roles
Deciding if a master's in marketing is right for you
Is a marketing degree worth it for you? The answer depends on your unique circumstances. While a master’s in marketing can lead to higher salaries and more responsibilities, you should also consider your goals, budget, and schedule.
If you’re still stuck, ask yourself these questions:
- Do I need a master’s degree to take the next step in my career?
- Can I commit to spending 15–24 months in graduate school?
- Will the return on investment outweigh the cost of a master’s in marketing?
Researching program costs, financial aid opportunities, and the job market in your field can help you make an informed decision.
Alternative pathways to a master's degree on edX
Not ready to commit to a full-time marketing graduate program? You can consider other alternatives to a master's degree, including professional certificates or executive education, to advance your marketing career.