If your personal brand is branding, a master's in marketing can help you to hone that passion into a career. And, according to the U.S. Bureau of Labor Statistics (BLS), it's a pretty lucrative career. The average annual wage for careers in marketing ranged from about $55,000 to $155,000 as of 2020.
In general, marketing managers tend to make more money each year, while sales-based marketing jobs and associates typically make less. If you're looking for job security, the market research analyst job field is expected to grow by about 18% through 2029.
Tuition for a master's in marketing program also ranges quite a bit, and is usually between $14,000 and $76,000 per academic year, though what you pay in tuition will vary depending on the type of school and program you attend. If you're looking for the right program for you, we've highlighted some of the best master's in marketing programs below, based on their academic excellence, affordability, and breadth of offerings.
Marketing Master's Programs for You
These top schools offer a variety of online graduate degree programs. Figuring out where to apply? Consider one of these online Master's or PhD programs.
20 Best Master's Degrees in Marketing
Master's in Marketing Overview
A master's degree in marketing will prepare you to lead marketing departments, branding initiatives, and product development. It's a diverse major, and each program has different ways you can concentrate your education in a particular part of the field.
Most master's in marketing programs will take about two years to complete when attending full time. Courses you might take include digital marketing, consumer behavior, data analysis, product development, marketing management, public relations, and brand development.
Admissions Requirements
In order to be admitted to a master's program in marketing, you will need a bachelor's degree. Not every program requires that degree to be in a related field, but requirements vary. Many schools will also ask for an undergraduate minimum GPA of about 3.0.
Most master's programs ask for GRE or GMAT test scores, but if you have a high GPA, you can often waive that requirement. You'll also likely need letters of recommendation and a personal essay, in addition to a completed application packet.
Marketing Master's Concentrations
Many master's in marketing degree programs will allow students to choose a specific concentration to specialize in. By specializing your electives with a concentration, you can better prepare for what you will encounter in real employment situations and apply your learnings to specific types of marketing. A concentration can also allow you to focus on areas you're passionate about.
Analytics: Overview
An analytics concentration will teach you how to use data and quantitative skills to craft marketing campaigns, offer feedback, and test new initiatives. You'll take courses like advanced statistics, econometrics, data analysis, database marketing, and sales forecasting.
Consumer Insights: Overview
This concentration will focus on analyzing consumer trends, experience, and behavior. Employees in this field may also be responsible for predicting future consumer trends. Courses may include customer intelligence, customer loyalty, consumer experience, trend forecasting, and branding strategy.
Digital Marketing: Overview
Digital marketing highlights the ways in which the internet and social media has impacted marketing. This concentration will teach you how to use advanced tools and software necessary to succeed in digital marketing. This typically includes Google Adwords, Watson Analytics, and Adobe. You'll take courses like search engine marketing, social media marketing, content marketing, internet advertising, and user experience (UX.)
Product Management: Overview
This concentration will prepare students to work with product-based businesses and brands. Beyond marketing a product to consumers, this job type will also involve designing product packaging, conducting consumer testing and research, and crafting a brand. Courses may include brand management, pricing strategy, product development, and product design.
Career Outlook for Master's in Marketing Graduates
A marketing graduate can pursue careers in marketing, advertising, sales, public relations, and many other business-related fields. The BLS reports that average annual salaries for these types of jobs ranged from $55,000 to $142,000 per year as of 2020.
With a master's degree, graduates will typically be able to enter the workforce at a higher salary level. Most jobs in the marketing field are also projected to grow over the next 10 years.
| Career | Average Annual Salary | Job Outlook (2019-2029) |
|---|---|---|
| Advertising, promotions, and marketing managers | $141,490 | 6% |
| Advertising sales agents | $54,940 | -6% |
| Market research analysts | $65,810 | 18% |
| Public relations specialists | $62,810 | 7% |
| Public relations and fundraising managers | $118,430 | 9% |
What Is the ROI for a Marketing Master's Degree?
Tuition costs for a master's in marketing vary widely depending on the school, your residency, and the program's reputation or competitiveness. If you live out of state, you may have to pay more in tuition than in-state students. And, attending a school like Harvard, for example,which is a private Ivy League university, will cost more to attend than a public state college. Tuitionfor our list of programs ranges from about $14,000 to $76,000.
The average annual salary for marketing managers was about $141,490 in 2020, according to the BLS. Given the high average salary in this field, you may expect a fairly quick return on investment, though it will depend on the tuition rate you pay and your salary post-graduation.
Scholarships for Master's in Marketing Students
AfterCollege Business Student Scholarship
This is a scholarship from AfterCollege for students working toward a degree in a business field. Applicants must have a minimum GPA of 3.0 to qualify.
Amount: $500
Deadline: June 30
Berbay Marketing & PR Scholarship Program
The Berbay Marketing & Public Relations company awards an annual scholarship to students pursuing a degree in marketing, public relations, or communications. Applicants must demonstrate a high level of writing skill and academic excellence via a 1,000 word essay.
Amount: $1,000
Deadline: February 10
Davis Property Management Scholarship
This scholarship is earmarked for students who have an interest in real estate, regardless of their major. Applicants will need to write an essay related to careers in the real estate industry in order to be considered.
Amount: $250-$1,500
Deadline: June 30th
OuterBox Scholarship for Digital Marketing Excellence
OuterBox awards a scholarship to students who are pursuing degrees related to digital marketing. Applicants must have completed at least one full year at their current school and submit a 500 word essay on the industry.
Amount: $2,000.
Deadline: October 31st
Who can apply for scholarships?
Scholarships are available to any student wishing to fund their education and supplement other forms of financial aid. Typically, funders will have minimum GPA requirements and ask that you are currently enrolled in a university. Students will have a better chance of winning scholarships if you apply for one targeted at a specific community. That can mean a specific university, degree, location, race, gender, or other demographic. You can also look at scholarships your university offers exclusively for current students.
Why Should I Get a Master's in Marketing?
Higher Earning Potential
According to the BLS, marketing master's graduates earn an average of 38% more per year than bachelor's graduates in the marketing field. An advanced degree can qualify you for a higher starting salary at many companies. If you're already in the workforce, pursuing a master's degree can help support requests for a raise and new responsibilities.
Advance career Master's degree graduates can qualify for higher positions and executive-level jobs. You can generally enter your career field at a higher level if you have a master's degree. For example, you can apply for marketing manager positions as well as marketing associate positions. An advanced degree can also help make the case for promotions and fast-track your career progression.
Increase expertise
The more advanced your education becomes, the deeper you'll study a subject. A master's degree can provide you with real-world experience and advanced knowledge on marketing topics. You can also choose a specialty and increase your expertise in a specific marketing niche.
Still Looking for the Right Fit? Explore Similar Programs.
Frequently Asked Questions About Marketing Master's Degrees
What can you do with a master's in marketing?
Marketing graduates can pursue careers in marketing, branding, public relations, sales, advertising, and product development.A master's degree in marketing prepares you for business management, data analysis, brand development, and more.
How much can you make with a master's in marketing?
The BLS reportsthat marketing managers made an annual average wage of about $154,470 in 2020. Your salary, however, will depend on your experience, the employer, where you live, and the specific field you're in.
Can you get a master's in marketing without a bachelor's in marketing?
Yes. Most programs do not require you to have a bachelor's degree in the same field you're pursuing a master's degree in. You will need to have a bachelor's degree, but it likely doesn't have to be in marketing.
