Marketing Management MBA and PhD: Degrees at a Glance
Between 2010 and 2020, the employment outlook for marketing managers and market research analysts is expected to grow by 14% and 41%, respectively, according to the U.S. Bureau of Labor Statistics (BLS). This growth is due to an increased need across all industries to understand consumer behavior and the effectiveness of marketing strategies.
Competition for marketing management positions can be competitive. Most marketing managers hold a bachelor's degree and have several years of relevant work experience, while leadership positions in market research typically require a master's degree and proficiency in statistics and/or economics. Careers in research and academia often require a doctorate degree. However, it should be noted that PhD programs in marketing or business administration with a concentration in marketing are more common than marketing management.
| MBA | PhD | |
|---|---|---|
| Who Is This Degree For? | - Experienced professionals who are seeking development and advancement opportunities - Bachelor's degree holders who want to enhance or specialize their skill set | - Individuals interested in postsecondary teaching or research pursuits |
| Common Career Paths (with approximate annual salary) | - Marketing manager ($126,000 - may require several years of experience)* - Marketing specialist ($67,000) | - Post-secondary business teacher ($87,000) - Assistant professor - business administration ($80,000)** |
| Time to Completion | 1-4 years | 4-5 years |
| Common Graduation Requirements | - Complete coursework - Maintain GPA standards - Complete internship (if applicable) - Complete research project (if applicable) | - Complete coursework - Research, write and present dissertation - Pass qualifying exams - Complete student teaching/research requirements (if applicable) |
| Prerequisites | - Bachelor's degree (typically in journalism, communications or marketing) - Typically several years of work experience - Meet GPA requirements - Recent GMAT or GRE scores - Letters of recommendation - Personal statement | - All of the master's requirements plus -Master's degree (preferred) -Prerequisite courses in marketing and business (if applicable) |
| Online Availability | Yes | Limited |
Source: *U.S. Bureau of Labor Statistics (May 2011 mean figures), **Salary.com (October 2012 median figures)
Marketing Management MBA Degrees
Students in a Master of Business Administration (MBA) degree program can typically select a concentration in marketing or marketing management. As a student in a marketing management MBA program, you will likely learn to develop communications and promotions plans for products, ideas and services. You acquire practical skills to achieve success in the business world. Your curriculum may be structured around lectures, independent coursework, group projects and internships. To be admitted into a marketing management MBA program, you will likely need an undergraduate degree and several years of work experience, preferably in a related field.
Pros and Cons
Pros
- Faculty with real-world experience may help build connections in the marketing world
- You can gain hands-on experience through internships and real-world experiences
- Marketing managers will continue to be in demand as organizations seek to market their products to specific customers and localities*
Cons
- Careers in this field, including entry-level positions, can be competitive
- On-the-job experience is typically required before entrance into a MBA program
- Marketing specialists may need to work in high-stress environments*
Source: *U.S. Bureau of Labor Statistics
Common Courses and Requirements
In a marketing management MBA program, students obtain critical business management skills and learn how to employ strategic marketing channels. Typical courses may include research for marketing management, buyer behavior, marketing and society, international marketing, sales management and marketing strategy. In addition to academic coursework, you may need to complete an internship and submit a research project. In addition to completing a project, students typically complete a written report that analyzes their research findings.
Online Degree Options
Online MBA degrees in marketing management are available. Some schools may offer a fully online option or a hybrid option (a combination of online and on-campus classes). Online programs generally feature curriculum and coursework requirements that are similar to traditional on-campus programs. Students should be advised that distance-learning programs might also require internships and group work. Some online programs target mid-career professionals, and expect students to have several years of prior work experience.
Getting Ahead With This Degree
Students can stand out from their peers by taking additional courses in related topics. For example, brushing up on web technologies and social media can make you a more marketable candidate and shows future employers that you stay current in business trends. Some schools also offer dual concentration programs, which allow students to target multiple areas of specialization, such as operations management and marketing.
Marketing PhD Degrees
PhD candidates study and evaluate a range of topics in the field of marketing management. Typically, students work independently, produce original contributions to research and participate in a research/teaching assistantship. A PhD can provide a significant edge if you want to become a subject matter expert in your field; however, consider that you may be over-educated for some positions, particularly those outside academia. Graduates of a PhD program will have the skills to work in academia, research or public policy.
Pros and Cons
Pros
- Small class sizes emphasize student-professor interactions
- The PhD is widely recognized as the best option for pursuing a post-secondary teaching career
- Entrance into the program may only require a bachelor's degree
Cons
- PhD admissions selection processes are highly competitive; only a handful of students are admitted each year
- You may be over-educated for careers outside of academia
- Tenure track positions within the field are declining
Common Courses and Requirements
Students in a PhD program typically spend several years completing academic coursework, along with researching and writing an original dissertation on a topic of their choosing. Students may also be required to complete a teaching assignment.
As a student in a marketing PhD program, you can expect courses on the following topics:
- Marketing principles
- Marketing theory
- Psychological aspects of consumer behavior
- Marketing management and strategy
- Aspects of consumer behavior
Online Degree Options
Online PhD programs in marketing are not widely available and may be aimed at experienced professionals who already have an understanding of the field. For example, online PhD programs may require evidence of a prior master's degree. Students who are interested in online and distance-learning doctoral degrees should thoroughly research academic programs to ensure the degrees they offer are accredited by the U.S. Department of Education or one of its accrediting agencies.
Stand Out With This Degree
If you plan to work in academia, you can begin to pursue teaching assistant opportunities while you are enrolled in your PhD program. These competitive opportunities may or may not provide a salary, but they typically provide a unique opportunity to obtain teaching experience. Since tenured positions require you to demonstrate your research, you may want to consider completing scholarly research that will be published in academic journals. Additionally, you may be able to take part in research projects with faculty members.
