Earning a PhD in Marketing poises an individual to be at the top of their field because of the lengthy years of both classroom learning and practicum work they’ve accomplished. While doctoral candidates often choose work in an educational setting, there are many PhD jobs outside academia to consider, particularly in the business world for professionals whose coursework centered on marketing. And while marketing professor salary medians may be very attractive, job opportunities for PhD graduates in the private sector can be even higher. Whether you want to learn how to become a marketing professor or achieve outside positions as a market research analyst or Chief Marketing Officer, use this guide to understand your options.
1. How to Become a Marketing Professor
Most universities require their tenure-track professors to hold a PhD in their chosen field. These highest level postsecondary teaching positions lead departments, pioneer research and educate the next generation of students. While lower level higher education positions may start at paltry pay, marketing professor salary levels can top $100,000 per year. According to the Bureau of Labor Statistics (BLS), postsecondary business teachers are some of the best paid in academia. Students researching how to become a marketing professor will also learn that education is routinely considered a growth industry with many opportunities for employment throughout the country and abroad.
2. Work as a Market Research Analyst
Market research analyst positions are predicted to expand by 23% over the next ten years, a much higher growth outlook than the national average of 7%. The overall median salary for this profession, according to the BLS, was $63,230 in 2017 but averages higher in certain industries like publishing, management, and finance. Market research performed within highly technical or scientific industries, or industries vital to the national defense, pay even higher, potentially topping $100,000 per year. Market research analysts not only gather data about specific populations and their habits but also use their analytical skills to analyze it and provide industry guidance as a result. As the demand for research continues to grow and the industry expands for PhD jobs outside of academia, candidates can expect salaries to grow even further.
3. Lead as a Chief Marketing Officer
Job opportunities for PhD graduates also include the ability to move into high-level leadership positions within major corporations, helping to set the vision for all marketing efforts and positioning brands to lead in their fields. Like marketing professors and market research analysts in high demand industries, top executives like Chief Marketing Officers (CMOs) can expect to earn more than $100,000 per year. To go into a position like this, you’ll often need to combine your terminal degree with actual work experience in marketing. This can be gained both through intern and practicum experiences as well as working your way through the ranks in marketing while working on your post-grad degrees. A CMO will typically lead a broad team of marketing and sales professionals, helping to develop their abilities and positively impact their organization.
Recognize More Job Opportunities for Those With Doctoral Degrees
Whether you prefer to work in the public or private sector, educating young minds or leading professional teams, job opportunities for PhD graduates are abundant in the marketing field. Analyze your own strengths, passions, and desires and then match those with the opportunities you’ll find available.