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Master of Marketing: Everything You Need to Know
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If you want to lead a marketing team, agency, or in-house department and you’re wondering what business master’s degree you should do, pursuing a Master of Marketing is a great way to kickstart your marketing career.
So, what types of Masters of Marketing programs are available? What are your jobs and salary prospects after a Master of Marketing degree? And is a Master in Marketing worth it?
Here’s everything you need to know:
Who is a Master of Marketing for?
Master of Marketing programs cover marketing theories and principles as well as best practices, strategies, and marketing technologies.
Many students enroll straight out of their undergraduate degree. Although marketing undergraduate degrees are valued by admissions teams, they’re not essential.
At Spain’s ESADE Business School, the Master of Marketing class includes students of 33 nationalities spanning five continents. The majority of students hail from business and management backgrounds with the remainder with professional or educational backgrounds in social sciences, humanities, and economics.
A marketing degree can also set you up for jobs across industries. At HEC Paris, Master of Marketing graduates land jobs in finance, insurance, analytics consulting and nonprofits as well as more typical sectors for marketing grads; ecommerce, retail, and luxury goods.
Gachoucha Kretz, associate marketing professor at HEC Paris says: “We welcome all talents from varied educational backgrounds and profiles, as long as candidates show outstanding entrepreneurial spirit, data driven decision making skills, strategic thinking, and a desire to make business while generating a positive impact for people and the planet.”
Types of Masters of Marketing
Master of Marketing
The traditional Master of Marketing is a one- or two-year course, combining a focus on marketing with general management training. Graduates from a Master of Marketing will gain skills in strategy and leadership, as well as an understanding of analytics, data, and business models.
Online Master of Marketing
Online Master of Marketing programs offer the same course content but with the added benefit of a flexible, part-time format. By studying an online program, you can continue to work and earn a salary at the same time. Some online Masters of Marketing include a face-to-face, residential component.
Master of Marketing courses & curriculum
A Master of Marketing curriculum is typically split into two sections. You’ll begin with a core component, while during the second half of the course you’ll have the chance to specialize via elective modules.
Typical core modules on the Master of Marketing syllabus include:
- Design-thinking and product development
- Strategic Marketing Management
- Strategic Brand Management
- Data analytics for marketing
- Data manipulation and visualization
- Digital marketing
- Reinventing your business model
- Marketing business KPI and business planning
- Pricing strategy
- Sustainability-driven marketing
The elective section includes optional modules, which vary depending on your chosen school. Examples of elective module topics include luxury management, business development for startups, or AI-led marketing.
You’ll learn using a mixture of theoretical lessons—looking at case studies and revising key theories—along with practical learning via business simulations and group projects. Courses also include a digital marketing element, where you’ll be coached in the latest technologies and platforms used in the industry.
Alison Choi, who studied the LSE Master of Marketing program, says she enjoyed the mixture of analytical training and practical skills included in the curriculum. “One of my favorite experiences was learning about branding,” she says. “We learned how to build a brand from scratch and connect it to customers.”
The diverse curriculum helped her secure a market research job after graduation. “Without the statistics training at LSE I wouldn’t have been able to do any of that,” she says.
At the end of a Master of Marketing, students complete a final project, which involves specializing in a topic of your choosing. Final projects can take the form of a practical project or a written dissertation or thesis.
During a Master in Marketing, you’ll also have access to a wealth of resources and extracurricular activities. Many schools offer practical experience with company visits, study trips, guest lectures, and networking events.
“Students learn how to build the best version of themselves, in a business setting, but most importantly in a social and societal context,” says Gachoucha from HEC Paris.
Master of Marketing jobs & salary prospects
What can you do with a Master of Marketing? After finishing a course, your transferable skills and knowledge will make you a good fit for various career paths.
Typical jobs for new Master of Marketing graduates include marketing analysts and marketing coordinators, roles which command average salaries of over US$56,000 and US$45,000 respectively in the US, according to Payscale.
At a more senior level, Master of Marketing grads can work as marketing managers earning an average of US$66,000 in the US, or marketing directors earning approximately US$90,000. At the top tier, Master of Marketing grads can fill the role of chief marketing officer (CMO), earning a place in the c-suite with an average salary of over US$175,000 in the US.
Your jobs and salary prospects will vary depending on your chosen school, industry, and location. Graduates from the MSc in Marketing at the University of Texas McCombs School of Business earn around US$63,000 on average, while graduates from HEC Paris earn US$55,000.
Master of Marketing grads can apply for jobs across industries and outside marketing too. “A lot of companies have a need for people who can handle data, but who also understand marketing, human psychology, and economics at the same time,” explains Sara King, director of The University of Hong Kong MSc in Marketing.
Master of Marketing cost & ROI
So is a Master of Marketing worth it? Programs come at a cost with average tuition fees across the top five programs ranked by QS at over US$41,000 in 2021.
Tuition fees vary by school. Columbia Business School charges US$67,612 while the HEC Paris Master in Marketing costs US$32,036. And you can often find more affordable programs in Europe: EU Business School’s Master in Marketing costs US$16,344.
The wide range of Master of Marketing programs on offer means whatever your budget there is a program for you, and with impressive graduate salaries—plus the knowledge and network you’ll gain—you can expect a good return on your investment.
You can also offset some of the cost of your degree by applying for merit-based and diversity scholarships offered by business schools.
Master of Marketing admission requirements
Typical Master of Marketing admission requirements include:
- Undergraduate degree
- 0-2 years’ work experience
- GMAT exam score
To apply, you’ll have to provide transcripts for your previous education, personal information, and your résumé. You may also have to answer essay questions to share your story and demonstrate your suitability for the program.
When assessing your application, schools consider your profile holistically, considering your GMAT score alongside your educational and professional background. While work experience is welcome, many programs have no work experience requirement.
If you’re application is successful, you’ll be invited to interview.
Now you have all the information you need to apply for a Master of Marketing, the next step is to find the best fit program for you. Our free guide, Finding Your Best Program: A Guide for Undergrads, gives you the expert tips and guidance you need to confidently narrow your options and identify the programs that make the most sense for your needs, preferences, and career goals.