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MBA in Marketing- Scope, Salary, and Best MBA programs in 2020

With the advancement of digital technology, marketing – one of the core business disciplines, is no longer a simple concept. In today’s always-online world, companies must have a global audience reach and should be able to operate in a complex and ever-evolving digital environment. With traditional marketing tactics taking a backseat, employers want marketers who can adapt and thrive in this volatile environment. Pursuing an MBA in marketing is one way to develop your marketing skills, and helps in understanding consumer behavior. In this article, we explore the best MBA in Marketing Programs.

10 Best Marketing MBA Programs

Here’s the outline of the article:

MBA in Marketing: Best Marketing programs

Here is a list of best business schools for an MBA in Marketing:

  1. Northwestern University – Kellogg School of Management
  2. University of Pennsylvania – Wharton School of Business
  3. The University of Michigan – Ross School of Business
  4.  Duke University – Fuqua School of Business
  5. Stanford University – Stanford Graduate School of Business
  6. University of Chicago – Booth School of Business
  7. Columbia University – Columbia Business School
  8. Harvard University – Harvard Business School
  9. New York University – NYU STERN
  10. The University of California – Los Angeles (Anderson)

Click on the link or scroll down to check out in detail about each business school. In this article, we cover the first five business schools. Read part 2 of this article for more information about the next set of 5 business schools.

The below table represents the best business schools for MBA in Marketing with its placement statistics and average GMAT score for the incoming class of 2021:

MBA in Marketing Programs

%age of students placed in

Marketing Function

Average/Median/Mean Salary in marketing

Average/Median/Mean Bonus in marketing

GMAT Score Range

Class of 2021

Kellogg School of Management

14%

$120,000

$26,838

620-780

Wharton School of Business

4%

$124,200

$25,000

540-790

Michigan Ross School of Business

17.80%

$116,046

$30,000

719

Duke Fuqua School of Business

14%

$123,500

N. A.

660-740

Stanford Graduate School of Business

18%

$142,033

$22,300

600-790

Chicago Booth School of Business

5.20%

$120,000

$30,000

610-790

Columbia Business School

8.30%

$135,000

$19,375

690-760

Harvard Business School

13%

$135,000

$30,000

590-800

NYU STERN

10.90%

$120,000

$27,532

600-780

University of California – Los Angeles (Anderson)

25.50%

$126,202

$27,207

680-750

 

Aspiring to pursue a career in marketing from the above-mentioned business schools? A GMAT score of 740+ can boost your MBA application. Kickstart your GMAT preparation by signing up for our free Trial.

Ranking Methodology

US News ranks the best MBA schools for marketing by collecting data from all the MBA accredited programs regarding their full – time MBA, based upon the three main weighted average indicators – Quality Assessment, Placement Success, and Student Selectivity:

    1. Quality Assessment: peer and recruiter assessment score are the weighted average indicators for analyzing quality assessment
    2. Placement Success: mean starting salary/bonus and employment rates are the weighted average indicators for analyzing placement success
    3. Student Selectivity: The mean GMAT and GPA score are the weighted average indicators for analyzing student selectivity.

Thus, to determine the best marketing MBA programs, feedback from peer and recruiters are taken into consideration with statistics related to the academic caliber and employment of cohort.

Before highlighting the unique offerings by the best MBA schools in marketing, let us have a look at the scope, career options, salary, and employment statistics after an MBA in marketing.

 

MBA in Marketing 

If you are interested in the media, promotions, sales, entertainment, and general management field, then earning an MBA in Marketing is appropriate for you. The trends of marketing have changed and augmented with the technological evolution in the world. Thus, an MBA in marketing helps you get a complete picture of the changing trends and helps in developing skills to keep pace with it.

According to GMAC prospective students survey 2019, 28% – 36% of the candidates are interested in pursuing an MBA in marketing for the past six years.

The best marketing MBA programs educate the students about various aspects of marketing, such as sales, executive management skills, leadership skills, market strategies, product management, consumer trends, digital trends, and market research in different industries.

Career Options 

After an MBA in marketing, you can work in many sectors ranging from Banking, FMCG, Tourism, Hospitality, Media, consultancy, market research, etc.

Here’s the list of job profiles that a candidate can expect after MBA in marketing:

    1. Marketing Manager
    2. Market research analyst
    3. Brand Manager
    4. Sales Manager
    5. Digital Marketing manager
    6. Product Manager
    7. Media Planning Manager

Apart from the above range of marketing careers, many companies structure and identify their marketing positions in different ways. Some companies have large marketing departments where an individual marketer is assigned to roles specializing in strategy, market research, or advertising.

Other firms expect their marketers to have a mastery of each of these roles in addition to taking responsibility for profit/loss, operations, collaboration with supply chain, and more.

Thus, it’s essential to know the best MBA in marketing programs that are keeping pace with the volatile marketing environment and what unique offerings are provided by them. 

Salary and Employment Statistics

According to the GMAC Alumni Perspective survey 2019, where 10,882 alumni from 274 institutions responded, 18% of them were working in marketing/ sales job function. When it comes to job activity, most of the recent alumni were more likely to work on virtual teams, followed by managing a budget, leading vendors and suppliers, supervising employees, and making hiring decisions.

The same report points out the percentage of business – school alumni placed in marketing/sales job function and their median base salary:


Source: GMAC Alumni Perspective Survey 2019

According to the GMAC Corporate Recruiters survey 2019, 21% of the employers plan to hire MBA in marketing graduates with 36% of companies from the Asia Pacific, 27% from Europe, and 18% from the U.S.

The same report also points out that 27% of the graduates in marketing will be working in the Public sector industry, followed by 26% in Fortune Global 500 companies, 25% in a start-up company, 23% in Fortune Global 100, and 17% in the private sector.

 

Best Marketing MBA Programs #1: Kellogg School of Management

With 14% of its 2019 MBA batch placed in the marketing function, Kellogg school of management is ranked number #1 for the best MBA in marketing programs. The average salary is between $90,000 – $270,000, with an average signing bonus of $26,838. 

mba in marketing best programs Kellogg school

MBA in Marketing Faculty

Kellogg is known for its outstanding innovators in the field of marketing – in particular, marketing guru Philip Kotler, who wrote the book Marketing management. Kotler’s work has attracted even more outstanding marketing faculty to the school and has increased the industry interest. The marketing department at Kellogg is made up of 50 tenure, affiliated, clinical, and emeritus faculty members with diverse perspectives and backgrounds – ranging from data analytics to neuroscience to psychology and cultural anthropology.

With a world-class faculty and a significant dedication to the marketing field, many people tend to refer to Kellogg as a “marketing school.”

Marketing Major Curriculum at Kellogg

Kellogg’s Marketing major – helps the students to understand customer behavior with the help of marketing analytics tools needed to create lasting customer advantage. As stated on Kellogg’s website, “Students who complete the marketing major understand how to deliver superior customer experiences to gain competitive advantage and drive sustainable growth.”

The marketing students at Kellogg’s need to choose one course from a list of four:

    1. Retail analytics
    2. Marketing research and analytics
    3. Digital marketing analytics
    4. Customer analytics.

Apart from this, the students choose one-course credit from the list of six courses, which includes advertising strategy, strategic brand management, and many more. In addition, two-course credit from the list of eleven more modules (which includes service marketing and management, customer loyalty, etc.) needs to be selected.

Kellogg’s offers various pathways to students who are interested in building expertise in evolving industries and emerging areas of marketing. For instance, a Kellogg MBA student with a marketing major can choose the data analytics pathway, which offers courses such as customer analytics and digital marketing analytics.

Marketing Club and Kellogg Super Bowl Ad Review

The Kellogg marketing club’s mission is to prepare the Kellogg community to be the best marketers across the industry by offering resources and opportunities.  The marketing club conference is a marketing extravaganza that attracts more than 600 students, marketing professionals, and alumni.

The conference focuses on offering keynote speeches from the marketing industry leaders and hosts various events. For Instance, the 2015 conference featured a creative lab session, were a team of students solve a marketing challenge presented by Google, while representatives of Google served as session judges and leaders.

Apart from the conferences, the marketing club also hosts competitions and events such as job shadow day, Lunch and Learn a mentorship program, and career treks.

The annual Kellogg’s super bowl Ad review is a unique event where the students watch and evaluate the ads following Kellogg ADPLAN (Attention, Distinction, Positioning, Linkage, Amplification, and Net equity) after which the students release grades for each advertiser. These evaluations tend to generate more and more press each year. For instance, in 2019, Kellogg’s Super Bowl, the students ranked Microsoft’s “We All Win” as a Winner, whereas Ads from companies like Amazon, Google, and Pepsi earned an ‘A’ rating.

Major Recruiters for Kellogg MBA Graduate

Some of the major recruiters of Kellogg’s are 3M, Accenture Strategy, Agoda, Amazon, Citi, EY, Google, H&M, KPMG Strategy, McDonald’s, and many more.

Learn more about The Kellogg School MBA Program – Class Profile, Employment Report, and Notable Alumni, Average GMAT score required, and Kellogg Essay tips.

 

Best Marketing MBA Programs #2: Wharton School of Business

With 4% of its 2019 batch placed in the marketing function, the Wharton School of Business ranks #2 for the best MBA in marketing programs. The average salary for a Wharton MBA 2019 graduate was $124,200, with a signing bonus of $25,000. 

 

mba in marketing best programs Wharton

MBA Marketing Faculty and Curriculum

According to the university website, the Wharton department of marketing is the largest, most published, and cited department in the world. Wharton is the first business school to offer conjoint analysis – a tool that has helped shape 20th-century marketing practices – developed by a Wharton professor. The marketing department has 28 professors who teach approximately 35 courses, including popular classes on pricing policy and consumer behavior that attracts students across majors.

Wharton offers a joint major in marketing and operations, which is a cross-functional approach that incorporates information and operations management. Besides, the students may choose between two formats for their marketing management course: traditional lecture and case version or a marketing strategy computer stimulation.

The marketing electives include subjects like consumer behavior, new product management, consumer neuroscience, and many more.

Marketing Club and Center

The marketing club at Wharton offers learning and networking opportunities outside the classroom. The club hosts seminars and interview preparation classes to help students learn more about the industry.  The annual marketing conference held by the club brings together 300 students, faculty members, and alumni to explore and discuss various issues related to the marketing industry.

Apart from the above, the club organizes industry trek, mock interviews, buddy program ( in which first-year students interacts with second-year students for mentoring), produces an annual Battle of the Bands shows, and external case competitions.

The students who are interested in retail and luxury goods can join Wharton’s Graduate Retail Club. The club hosts career treks, annual conferences, and speakers’ panels. The keynote speaker for the Retail Conference held in February 2019, where the co-founder and co-CEO of Harry’s. There was a panel discussion were various topics such as Partnership and strategic alliance, health and wellness, and retail brand – building.

Wharton has a variety of research centers and programs to help faculty and students understand the latest trends in the marketing field. Wharton Customer Analytics Initiative and the Jay H.Baker Retailing Center offers initiatives in different marketing subfields.

Major Recruiters for Wharton MBA Graduate

Some of the major recruiters for the Wharton MBA batch are Lilly Pulitzer, Bloomingdale’s, Tiffany & Co., Michael Kors, and many more.

Learn more about the Wharton MBA Program – Class Profile, Employment Report, and Notable Alumni, Average GMAT score required, and Wharton MBA essay Tips.

 

Aspiring to pursue a career in marketing from the above-mentioned business schools? A GMAT score of 740+ can boost your MBA application. Kickstart your GMAT preparation by signing up for our free Trial.

 

Best Marketing MBA Programs #3: Michigan Ross School of Business

With 17.80% of its 2019 batch placed in the marketing function, the Michigan Ross School of Business ranks #3 for MBA in marketing. The mean salary for the batch was $ 116,046, with a salary range of $50,000 – $154,000.

The average GMAT score for the incoming class of 2021 is 719.

mba in marketing Michigan ross

MBA Faculty and Curriculum

The faculty of marketing at Michigan Ross uses concepts from economics, statistics, psychology, neuroscience, and engineering to tackle the crucial issues of the market. The marketing faculty consists of 32 members who are world-class professors and who know how to put their ideas into action. Michigan Ross faculty are among the top researchers in the world, and Ross focuses on melding these experts’ research with classroom stimulations.

The marketing curriculum at Ross combines a strong research base with the school’s hands-on approach to learning. It offers 18 courses, the majority of which requires work outside the classroom.

Marketing Club and Research Center

The Michigan Ross marketing club is one of the largest student organizations on campus with 300 members. The club offers students tools and coaching to excel in interviewing and networking. The club is also responsible for organizing mock interviews, case study preparations, and industrial visits for the students.

The club also hosts the two – day Marketing Symposium, which includes panel discussions led by industry experts, mock interviews, networking, and career fair. Some of the well – known companies that have participated in the symposium include Johnson & Johnson, General Mills, Nestle, and American Express.

Apart from the marketing club, two other clubs might interest students who want to pursue a career in marketing, i.e., Retail and Luxury Goods Club and the Entertainment and Media Club.  The “retail and luxury goods club” hosts events by companies that interview on campus and organizes ‘New York retail trek’ where the students visit organizations such as Saks and L’Oréal.

Similarly, the Entertainment and media club offers networking opportunities and career treks to New York and Los Angeles with professional development workshops on media-related topics.

The Yaffe Center for Persuasive Communication focuses on education and research in the field of persuasive communication. The establishment helps to educate and prepare students for marketing careers and sponsors specific marketing courses towards the same.

It also organizes case studies, industry speaker events, and occasionally hosts industrial conferences that attract marketing practitioners from around the world.

Major Recruiters

The major recruiters at Ross include multinational packaged companies like Procter & Gamble, Johnson & Johnson, General Mills, and PepsiCo.

Learn more about the Michigan Ross MBA Program – Class Profile, Employment Report, and Notable Alumni,GMAT score required, and MBA essay tips.

 

Best Marketing MBA Programs #4: Duke Fuqua School of Business

With 14% of its 2019 MBA batch got placed in the marketing function, the Duke Fuqua School of Business ranks #4 for the best marketing MBA programs. Sixty students from the class of 2019 reported having sales or marketing jobs with a salary range of $45,000- $155,000.

The average GMAT score for the incoming class 2021 is 660-740.

mba in marketing duke fuqua

Faculty

The Fuqua Marketing department consists of 22 professors, who are world-renowned leaders in the field of marketing. For Instance, one of the alumni described Professor Devavrat Debu Purohit’s class as “a real favorite and incredibly applicable to the first job” – An Alumni.

MBA in Marketing Major Curriculum

Students who wish to pursue Marketing as a major have two options – Product Management and Market Analysis and Strategy. Product management is for students who are interested in the topics related to consumer durables, packaged goods, high – tech markets, pharmaceuticals, and services. Whereas marketing analysis and strategy are for students who want to pursue consulting, corporate strategy, marketing strategy, sales, and general management.

Besides, the students are required to opt for market research for both the above courses. And that’s not all. Students opting for product management must also take a strategic brand management course with four other electives from the list of 16. Similarly, students opting for market strategy, and analysis must also consider the marketing strategy and choose four other electives from the list of 18.

Marketing Club and Research Centre

In 2011, Fuqua school of business announced a partnership with Synovate, a global marketing research firm, to create the Duke/Synovate Center for Shopper Insights. The center brings together research leaders from the FMCG market such as ABInBev, Coca-Cola, Kelloggs, etc. to determine what we know and what we don’t know about the science of shopper marketing.

The key mission of the center is to identify and fund key research initiatives related to the consumer’s store experience.

The Duke Fuqua MBA marketing club helps the students to prepare for post-MBA marketing career through various offerings and events. Every year it organizes the ‘Marketing Symposium event’ where the panels and presentations are about the role of brand manager, interview and internship preparation, case study presentations by recruiting companies, and mock interviews with alumni.

The marketing club also hosts conferences where they invite other MBA programs students and faculty members. The conference held in 2006 attracted many industry leaders from across the country and involved networking opportunities, case study presentations, and a keynote speech by Johnson & Johnson.

Apart from the above, the club is also responsible for organizing industrial trips to companies such as Google, American Express, and Pepperidge Farm.

Marketing Integrated Learning Experience (MILE)

The MILE initiative helps the students to prepare for different types of marketing interviews. The program consists of four sessions that focus on what kind of interview questions to expect and provides a framework to answer them. The sessions are held twice a week for six weeks and cover various topics such as – Crafting your story, New Product Launch, and Innovation.

Major Recruiters

The top employers for the class of 2018 are Amazon, McKinsey & Company, Deloitte, Accenture LLP, Google, Nike, PepsiCo, BCG, and many more.

Learn more about Duke Fuqua MBA Program – Class Profile, Employment Report, and Notable Alumni, GMAT score required, and Duke Fuqua MBA essay tips.

Aspiring to pursue a career in marketing from the above-mentioned business schools? A GMAT score of 740+ can boost your MBA application. Kickstart your GMAT preparation by signing up for our free Trial.

 

Best Marketing MBA Programs #5: Stanford Graduate School of Business (GSB)

With 18% of its 2019 MBA batch placed in the marketing function, Stanford GSB is ranked number #5 for an MBA in Marketing. The mean salary and bonus for GSB 2019 batch are $ 142,033 and $ 22,300, respectively. The salary range for an MBA in marketing students is $95,000 – $175,000.

MBA in Marketing Stanford GSB

Marketing Department

The school’s marketing department hosts weekly marketing seminars where scholars from across the country present research on various topics related to the field.

Also, the marketing faculty hired at Stanford are professors who engage in cutting-edge marketing research to increase students’ exposure to theory and research. They employ a diverse set of teaching methodologies – using both lecture and the case method, where frequently the faculty develops their cases.

Students learn by participating in group projects, simulations, and role-playing scenarios.

MBA in Marketing Curriculum

In the first -year, marketing is one of the general management foundation courses where the students get introduced to the procedural and substantive aspects of marketing management. The course helps in analyzing the needs and wants of potential customers, according to Stanford’s website.

In the second-year students who are interested in marketing can choose marketing electives such as digital marketing, the travel and airline industry, marketing research, rethinking the purpose, consumer behavior, product launch, and more. Stanford offers approximately 20 electives for marketing.

The Value – Chain Innovation Initiative

As stated on Stanford’s website, the value – chain initiative brings together staff, faculty, practitioners, and students to advance the theory and practice of global value chain innovation through knowledge and research. It focuses on understanding the social and economic impacts of the global dynamics and digital communications that are reshaping industries, businesses, and ecosystems.

The initiative sponsors meetings, workshops, conferences, and symposia throughout the year and sends members to participate in events hosted by its international partners – the European Supply Chain Forum (ESCF) in the Netherlands and the Centre for Marketing and Supply chain management in Hong Kong.

 

Here are few more articles related to the Stanford MBA program: How to get into Stanford MBA Program, Stanford MBA Essay – Analysis and Tips, What is a good GMAT score for Stanford GSB?, and Stanford Dhirubhai Fellowship.

 

Here are a few other articles you may like to read:

MBA in Marketing: FAQs

What is the scope of MBA in Marketing?

An MBA in Marketing helps you get a complete picture of the changing trends and helps in developing skills to keep pace with it. Some of the job profiles that a candidate can expect after an MBA in Marketing are – Brand manager, digital marketing manager, media planning manager, sales manager, and Market research analyst.

What are the different types of MBA specialization?

There are mainly five types of MBA specialization:
1. Finance
2. Marketing
3. Operations Management
4. Human Resource Management
5. Entrepreneurship

Is it worth getting an MBA in Marketing?

Yes. An MBA in Marketing is worth it. After an MBA in marketing, you can work in many sectors ranging from banking, tourism, hospitality, consultancy, market research, etc. According to the GMAC Corporate recruiters survey 2019, 21% of the employers plan to hire MBA in marketing graduate.

How important is the GMAT score for MBA Admissions?

The importance of GMAT goes far beyond MBA admissions. They extend to the stage of job application too. Business school use and trust the GMAT exam to make admission decisions, and 9 out of 10 MBA admission decisions are made using a GMAT score.
Check out this article that talks about the importance of GMAT in detail.

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