MBAs aren’t just for managers and people thinking of starting their own small business. MBAs teach a wide array of business skills, whether you’re moving into marketing or want to become a marketing manager. Here are a few reasons why online MBAs are a great option for marketing professionals. We’ll focus on the practical benefits that make this the best educational choice for those looking to advance their career.
It Boosts Your Pay If You Choose the Right Specialization
The average MBA graduate earns fifty percent more than they did before earning their degree. Five years after graduation, they are earning eighty percent more than they were before. This is why more than ninety percent of MBA graduates say they’d do it again if they had a second chance. However, some do regret the decision, and where some double their pay, others hardly see a pay boost. The solution isn’t to forgo an MBA.
Instead, you should choose the right program so that you learn the skills that are in demand. This list includes but isn’t limited to market research analysis, promotions management, and sales management. Data collection, data analysis, re-marketing, and social listening are growing in popularity, too. The number of jobs in these areas is growing faster than the national average. Notably, employers in traditional retail are starting to use analytics to create precisely worded promotions and use other strategies to increase conversion rates. Do your research to find out what skills are in demand where you want to work before you select an MBA program.
It Prepares You for Marketing Management
An MBA teaches you more than how to advertise and promote products. It teaches you how to create budgets, conduct targeted market research and craft market strategies for each product and market segment. This is why earning an online MBA degree could prepare you to move into marketing management. In 2014, the median pay for marketing managers was roughly 125,000 a year, and the pay rate today is higher. While you don’t have to have a master’s degree to work in most marketing jobs, it helps you stand out from the competition. It shows that you’ve learned the skills these higher-level positions require. It proves you have the determination and time management skills required for long-term projects, as well.
You’re More Likely to Finish the Degree
Marketing professionals have a number of reasons to choose an online degree program. One would be that they are able to access MBA programs that could be beneficial to their careers. Another is to gain the schedule flexibility they need to continue working while going to school. You can take online classes whether you’re at home, at work or somewhere in between. It is easier to keep up with your hectic schedule and commitments with an online program. Another great aspect of getting an MBA online is that you can often stretch it out over a much longer period if you want to decrease the load.
It Can Land You Your Next Job
One of the greatest benefits of an MBA program, whether online or at a brick and mortar school, is that it can help you land your next job. You’re in extended contact with fellow students and business faculty. You’ll be able to leverage the school’s alumni network, as well. You’ll also be able to take advantage of recruiting events held by the school. Attend clubs and conferences to build your network and learn as much as possible.
It Will Make You a Better Entrepreneur
Many marketing professionals eventually move on to starting their own venture. While you can learn a lot about how to run a business through trial and error, with the kind of advanced knowledge you’ll get through an online MBA, you won’t have to commit these mistakes in the first place. You’ll become a better and more thoughtful leader. You’ll learn how to get the most out of your employees and improve efficiency. You’ll be able to quickly identify problem areas in your processes and fix them. Also, you’ll be able to identify star candidates quickly and find the best talent while creating a stimulating work environment that will allow you to retain them.
Conclusion
While there are people saying that the MBA is less relevant, the reality is that MBAs are still very much in demand, especially on a global level. Getting an online MBA could open many doors and allow you to diversify your skills while still earning a living, so make sure that you consider the options open to you and how you could benefit from them.