MBA in Marketing: Future Scope and Top Paying Jobs
MBA is one of the most sought-after degrees nowadays. It is essentially a 2-year post-graduate degree to take your career to the next level.
One of the most popular specialisations of MBA in Marketing. It has loads of future career options, especially in India. Pursuing an MBA in marketing program will give you insight into brand management marketing tactics and consumer behaviour in addition to learning and refining your leadership skills.
The main objective of Marketing is to understand the needs of the customers and create and market products and services based on them. One needs to thoroughly understand the shopper’s conduct and place yourself in their shoes to understand the psyche and therefore better market the product.
In this article, we will give you a detailed overview of why an MBA in marketing is beneficial and its future scope.
Why an MBA in Marketing?
Marketing is increasingly becoming a lucrative industry with numerous job opportunities opening up every day. Here are some of the main reasons for you to pursue an MBA in Marketing:
- Importance of Marketing- The Marketing industry is thriving with brands vying to get their content ranked higher than competitors on search engines and social media. With marketers in high demand, it presents a unique opportunity to MBA in Marketing grads as they have the managerial skills to go with the technical ones, thus making it even more attractive for companies to hire them.
- Scope of this course- MBA in Marketing grads are in very high demand and there is no dearth of opportunities as every organisation needs social media or SEO specialists.
- Future proof course- With marketing becoming the main way brands promote their products, a degree in this field is as future-proof as it gets!
MBA Marketing Curriculum
In the first year of MBA, everyone has common subjects. At the end of the first year, you have to do an internship for a specified time period.
At the start of the second year, you are asked to choose a specialisation. In this case, the specialisation is marketing.
The core subjects that comprise marketing are given below-
- Marketing management
- Operations management
- Consumer and brand insight strategy
- Digital marketing and social media management
- Forecasting, modelling, and marketing strategy
- New product strategy, branding, and marketing
- International and multinational marketing
- Salesforce management
All of these will be complemented with case studies, projects, and real-world insights from your professors and mentors. A point worth noting is the importance of your internship during the course. Think of the internship as your chance to demonstrate your skills to potential employers. You will get the chance to learn on the job and gain valuable experience from professionals. If you perform well you might even get a job offer from the organisation you intern at.
Future of an MBA in Marketing in India
We know you must have a lot of doubts at this stage. Questions such as whether an MBA in marketing is worth it and why it’s such a popular specialisation are normal. The reasons to pursue it are the scope of an MBA in marketing and its future career prospects and job opportunities. The MBA in marketing program gives you an easy entry into the marketing world and makes you eligible to eventually occupy the senior level and executive positions in any organisation.
Salary can vary a lot but you can be assured of a high package. According to Payscale, the average salary of MBA Marketing candidates in India is Rs. 766,000 per annum. The salary range can go up to 20 lakhs per annum depending on your skills. Although with a greater package comes greater responsibility. One thing is for sure though, you can expect a significant boost in your current earnings after completing an MBA in Marketing.
Knowledge and Skills
MBA will teach you a lot of necessary skills such as-
- Communication skills
- Strategic thinking
- Analytical skills
- Ability to convince.
All of these skills are equally important. As an MBA Marketing graduate, you need to come up with innovative and practical solutions to real-world problems. Your employers will expect you to devise a strategy to enable their brand to reach the masses. For this, you need a blend of interpersonal skills and strategic thinking.
Inculcation of Knowledge
In addition to this, you need to use your electives to build important technical skills. For example, as a marketing graduate, you will have to see the demand and supply for a product or service and determine the break-even point after conducting a cost-volume-profit analysis. There are lots of other technical functions you will be expected to perform as a Marketing MBA graduate.
The program will prepare you well for your career.
Job Opportunities after an MBA in Marketing
After completing an MBA in marketing you won’t be short of job options. You can choose to work in Advertising Agencies, Marketing Companies, FMCG Sector, Financial Services, IT, etc.
In addition to this Marketing MBA graduates can even go for openings in PSUs (Public Sector Undertakings), semi-government banks, and other such organisations.
Potential designations for you include-
- Marketing manager- As a marketing manager, you will be tasked with devising the overall marketing strategy for the organisation and leading it to completion.
- Marketing research analyst- This role requires you to use your technical skills to analyse, curate, and use data in order to help market the product better and attract and retain customers.
- Media planner- Responsible for planning and PR operations
- Brand manager- The brand manager is in charge of making a name for the organisation and seeing off rivals and competitors.
- Digital Marketing Manager- All social media and online campaigns and promotions will directly go through you. You need to be well versed with SEO for this. Here you can read Why Digital Marketing MBA is Becoming Popular?
- Sales Manager- The main aim of the sales manager is to oversee the sales and set targets and also ensure that customers are satisfied with the after-sales service.
With the speed at which technological advancements are happening and the world is getting more and more globalised, every organisation needs a marketing professional in order to spread their word. This has led to increased demand for Marketing MBA graduates which certainly bodes well for current students.
MNC’s like Amazon, Facebook, Apple, Google, Oracle, and IBM hire marketing graduates as well as advertising agencies like Ogilvy and FMCG giants and startups. There is no dearth of job opportunities after an MBA in Marketing.
Marketing is a vast field and even though there is a lot of competition there are a lot of opportunities out there. You can go into a whole host of industries - tourism, retail, banking, hospitality, media and advertising, consultancy, market research to name a few.
MBA in Marketing has a very wide scope and is essentially future proof. It is a suitable fit for the contemporary world and is a very good option to select as your specialisation.