There are many reasons why a business degree is one of the most sought-after degrees. Firstly, a business degree can practically apply in any field, because in a way, everything is treated as a business nowadays. Secondly, there are several areas you can specialize in, so there is something for everyone. Two of the most common business-related degrees are marketing and business management.

What Is a Marketing Degree?

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A marketing degree or major is a postsecondary education degree that focuses on marketing strategies used in the business world. Depending on the kind of degree, a marketing major is qualified for different positions in the business field. If you are interested in marketing, there are a few types of degrees you can obtain:

  1. Associate degree – Typically takes two years to complete and equips students with the basic skills and knowledge for entry-level positions. An associate degree is a great starting point for those who wish to obtain a bachelor’s degree in marketing.
  2. Bachelor’s degree – A full-time bachelor’s program lasts four years. It is an undergraduate degree and typically a requirement for marketing jobs in various industries. 
  3. Master’s degree – It is a graduate degree and typically takes two years to complete. Those who pursue a master’s in marketing intend to gain specialized knowledge and qualifications for managerial positions.
  4. Doctorate – It takes three to seven years to obtain a Ph.D. in marketing. Those who pursue a doctorate degree in marketing aim for careers in academia, i.e., to become professors of marketing.

Marketing qualifications & skills

A degree in marketing is one of the most versatile degrees because it is applicable in a variety of industries. Like any other profession, you need hard and soft skills to succeed in marketing.

Hard skills required in marketing:

  1. Writing
  2. Analytical skills
  3. Project management
  4. Research 

Soft skills required in marketing:

  1. Communication skills
  2. Problem-solving
  3. Attention to detail
  4. Interpersonal skills

Specializations in marketing

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If you opt for a degree in marketing, here are a few areas you can specialize in:

  1. Market research – Market researchers gather and interpret data regarding the customer’s opinions on a product or service.
  2. Content marketing – Content marketers present ‘disguised’ products or services to customers by carefully placing them in articles.
  3. Search engine marketing – Search engine marketers use their skills to present products or services to customers who use search engines on the internet.
  4. Direct marketing – As the name implies, direct marketers present their products directly to the customers.
  5. Database marketing – Database marketers, present a product or service to potential customers based on their preferences according to the internet.
  6. Social media marketing – Social media marketers use their presence in social media to stay connected with their customers and present their products or services to them.
  7. Influencer marketing is a form of marketing that also uses social media as a setting. Marketers use people who have a big following on any social media platform or influencers to promote and advertise their merchandise or services to potential customers.

Marketing job outlook & salary

The Bureau of Labor Statistics (BLS) projects a 10% growth rate for advertising, promoters, and marketing managers by 2030. The annual salary depends on a few factors like position, level of education, experience, etc. However, according to the BLS, the average annual salary for marketing managers is $142,170.

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What Is a Degree in Business Management?

what-is-a-degree-in-business-management

A degree in business management is a tertiary education degree that focuses on the fundamentals of business management. If you are interested in the business world and specifically in business management, these are the degrees you can obtain in this field:

  1. Associate degree- Obtainable in as little as two years, an associate degree in business management is the perfect way to gain basic knowledge in the business world and create opportunities for entry-level positions.
  2. Bachelor’s degree- It is an undergraduate degree obtainable in four years. A bachelor’s degree in business management prepares students for management positions in the business world.
  3. Master’s degree- It is a graduate degree that takes two years to obtain. Students who pursue a master’s degree in management gain specialized knowledge in the field and better career prospects.
  4. Doctorate- It is a postgraduate degree that takes three years to complete. Ph.D. graduates in business management are qualified for careers in academia, e.g., professors, researchers, etc.

Business management qualifications & skills

Every business management major needs to gain a set of skills to succeed in the business world. Here are the most important skills for a business manager:

  1. Communication skills
  2. Leadership skills
  3. Financial intelligence
  4. Problem-solving skills
  5. Creative thinking skills
  6. IT

Specializations in business management

There are a few branches of business management you can specialize in, and here are some of them:

  1. Financial management: Handling the finances of a company or organization to ensure profitability.
  2. Marketing management: Dealing with the marketing and advertising of a company and its products.
  3. Sales management: Overseeing the sales division of a business.
  4. Human resource management: Recruiting and managing employees within an organization.
  5. Strategic management: Devising strategies for the organization, i.e., marketing, financial, etc.
  6. Production management: Supervising production or manufacturing within a company.
  7. Public relations management: Building and maintaining a strong public image for the company or organization.

Business management job outlook & salary

The Bureau of Labor Statistics (BLS) projects a 9% growth rate for all management positions by 2030. Whereas, according to Glassdoor, the average annual salary for a business manager is $81,133. This number may differ depending on experience, level of education, etc.

What Is the Difference Between Marketing and Business Administration

Both business marketing and business management work more or less towards the same goal— making sure the business flourishes. However, there are also many differences between the two. While business management is more general and focuses on the day-to-day functions of a business or department, marketing is more concentrated and focuses on promoting or advertising a certain product or service that the company provides for customers.

If you are interested in the field of business, enrolling in a marketing or business management program is a great way towards a career in the business world. While the two programs share basic similarities, one is bound to fit you better than the other. Consider what kind of career or position you are aiming for in the future to find the ideal program for you.