Is a master's in marketing worth it?
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You've decided to level up your career, and you're considering an online master's in marketing. You're excited to start but want to make sure: Is a master's in marketing worth it? Here's everything you need to know about the value of this degree in a changing world.
What is a master's degree in marketing?
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 the 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.
An online master's in marketing usually takes 15–24 months to earn. Completion time depends on factors such as full- or part-time enrollment and individual program requirements. Credit requirements for graduation may vary.
Benefits of a master's in marketing
A master's in marketing may allow you to apply for higher-level positions, learn valuable new skills, and keep up with the ever-evolving marketing landscape. Benefits of earning this degree can include:
- Higher earning potential
- Career advancement
- Skillset enhancement
- Networking opportunities
How much does a master's degree in marketing cost?
According to the National Center for Education Statistics (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, review associated costs and apply for financial assistance if needed.
Does a master's degree in marketing have a good ROI?
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 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 Bureau of Labor Statistics (BLS), market research analysts made a median salary of $74,680 in 2023.
Therefore, a market research analyst could see a positive return on their investment given their salary.
Are graduates of a master's degree in marketing graduates in demand?
The demand for marketing professionals shows no signs of slowing in our advertising-heavy world. The BLS projects market research analyst jobs to increase by 13% from 2022 to 2032, which translates to an average of 94,600 new market research jobs annually.
Additionally, the BLS projects jobs for advertising, promotions, and marketing managers to grow 6% from 2022 to 2032, with roughly 34,000 annual job openings.