Is a MARKETING DEGREE worth it?

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Is a marketing major or a marketing degree worth it that’s what we’re going to be talking about today but before we jump into that make sure to gently tap the like button in order to defeat the evil youtube algorithm on this channel we talk about personal finance college degrees careers and opportunities that are going to lead you to success and we also talk

About avoiding some of the common traps that so many people end up falling for now if you’re new here and you haven’t done it already and that sounds like something that interests you go ahead and hit the subscribe button and ring the notification bell so that you never miss out now with that out of the way let’s jump right in what is a marketing degree so with

A marketing degree you’re going to be studying all kinds of different business strategies and marketing theories with the end goal of putting your company’s product in the hands of a consumer now marketing is somewhat similar to sales but generally speaking it’s going to be a little bit less face to face a lot of the time you’re going to be crunching numbers and

Doing things behind the scenes so that you can sell your product basically on a massive scale whereas with sales a lot of the time it’s just going to be one-on-one and so you’re very limited to how many people you can talk to now according to nces the number of people who graduate with a marketing degree is about 35 000 a year now this one is pretty promising

To be honest with you there are a lot of career opportunities that are going to be waiting for you this is because just about every company out there needs people who have marketing skills now there are a ton of different careers that you could go for all the way from advertising sales agents public relations specialists to becoming a marketing manager with a

Good marketing degree background when you learn these skills you’ll be able to communicate your brand in a compelling way to customers which will make it much more likely for them to buy your product now this is a personal finance channel so i am going to be focusing on the personal finance aspects of getting a marketing degree however we are going to be going

Over four very important categories and i’m going to be ranking all of these categories on a scale from 1 to 10. these categories are going to be salary satisfaction demand and x factors then at the very end i’m going to give it a final score now when you graduate with a marketing degree you can expect to make around 49 000 a year in your first five years after

Graduating and 91 400 a year in mid-career pay which is also 10 years after graduating and after one career path you could go down with just a bachelor’s level degree is becoming a marketing manager and according to bls they make around 135 000 a year now one knock that i have on this major is a lot of colleges out there are still teaching traditional marketing

Strategies which pretty much don’t work anymore a lot of brands are moving towards digital marketing and social media marketing in order to promote their products and colleges aren’t keeping up just because of the fact that the field is moving and progressing so fast so depending on what school you go to some of them are going to be better than others but you

Want to make sure that you buffer yourself and learn skills that are high in demand so some of these skills might include digital marketing data analysis which is going to involve a lot of use of statistics as well as using spreadsheets market research seo which is search engine optimization crm which is customer relationship management and it never hurts to learn

A little bit of software development as well with a marketing degree you can move into all kinds of different positions and you can move up the hierarchy of a company which is of course going to mean higher paying jobs at the same time you could also start your own business after getting years of experience which could also mean that you would make a really good

Amount of money in my video i did on careers that create the most millionaires business degrees were all over the list and that is because business degrees tend to go into careers where they end up starting their own business and they probably also have a much better chance of the business being successful just because of the fact that they learned a lot of the

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Skills that you need in order to be a business owner with that being said marketing was not on that list it wasn’t one of the business degrees that were in the top ten and then on top of that a lot of the jobs when it comes to marketing aren’t all that high paying just because of the fact that it is one of the more popular business majors but overall the salary

Is still pretty good i’m gonna give this one an 8 out of 10. next on the list we are going to be talking about the satisfaction and this is very subjective for some people they might be extremely happy with a marketing degree going into a marketing career and then some people they might absolutely hate it this is always one of the hardest sections for me to do

Just because it’s so subjective but overall generally speaking when it comes to business degrees most people tend to be very happy and they don’t regret it so according to ziprecruiter for instance business degrees in general were the second least regretted degrees behind of course computer science only 15 percent of the people who got a business major said that

They regretted getting the degree and the main reason was because it’s just a little bit too general so being flexible and being general it’s almost like two sides to the same coin a marketing degree is extremely flexible you can work in almost any industry in any business out there and there’s a ton of different positions that you can go for but at the same time

The skill set that you learn can be somewhat general and the whole purpose of going to college is becoming an expert in a specialized skill if you want to become a jack of all trades there’s tons of free information out there on the internet and you don’t need to go to college in order to learn that stuff now when it comes to meaning and this is a survey that pay

Scale did where they basically asked people how much they think their job positively impacted the world business degrees don’t tend to do very well and marketing is no exception it came in at a 39 meaning score which is pretty low that’s not great however meaning and satisfaction are not the same thing you can have a job that you really enjoy like let’s say you

Were playing video games all day long you really enjoy doing that but it doesn’t necessarily positively impact the world and a lot of the time when it comes to business degrees and business related careers it’s not so much the job that you go for it has a lot more to do with the industry that you’re in or even the business that you work for and even if you do

End up working in a career that you don’t really like there’s a lot of different career paths you can go down so you can always switch now i always say this but generally speaking it’s going to be a good idea for you to work in an industry that’s booming an industry that’s doing really well so we’re talking technology industry finance industry something along those

Lines and it also helps if you work for a business that’s doing well most of the time you’re going to have a lot more opportunities you’re going to get rewarded for your hard work and all of that is going to contribute to you being happier with that being said flexibility plays a huge role here and if you do find yourself in a position where you’re not very happy

With it you can get a few years of experience get your two years in and then you can move into another position that will probably be a lot better overall i’m going to go ahead and say that the satisfaction with this one is 7.5 out of 10. next we’re going to talk about demand and i think out of the four this one is probably the most important one the reason for

That is because pretty much everything else stems from demand if you learn skills that are in really high demand companies are going to want to pay you more they’re also going to want to treat you a lot better which is going to make your job satisfaction go up now according to bls financial occupations in general are growing at about five percent which is faster

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Than average compared to all other types of careers for the career that i mentioned earlier which is marketing manager there’s 314 000 jobs available right now it’s growing at 6 which is faster than average and that means over the next 10 years there’s going to be 18 000 jobs that open up now as i mentioned before there’s about 35 000 marketing graduates that are

Graduating from college with a bachelor’s degree every single year and when we look up the keyword marketing degree on monster.com you’ll see that 264 000 job postings have a marketing degree in it that’s usually a very good sign that the market is not saturated if so many of the job postings have that keyword in it as a comparison when you type in anthropology

Degree only 820 job postings pop up and when you type in computer science degree 141 000 pop up so 264 000 is very very good and that tells me that this degree is still in high demand now on top of the high demand it’s also extremely flexible there’s a ton of different career paths that you can go down there’s also a ton of different ways that you can do those

Careers so for instance you could go down a career path where you’re doing something remotely you can do digital marketing or if you wanted to you could move up the hierarchy in a company to higher paying positions you could become an executive or you could go off on your own and start your own business and become an entrepreneur this is a very flexible degree

And for that reason i’m going to go ahead and give this one a 9 out of 10 for demand next we are going to be talking about x factors and this includes a bunch of other things that don’t fall into one of the three categories that we just talked about now business degrees in general tend to do very well when it comes to x factors for one they combine really well

With other types of degrees so you can very easily double major in marketing and then a different degree and a lot of the time that’s going to make a great combination they’re going to end up working synergistically and it’ll be better off than if you just got one degree on its own another factor to think about is the fact that marketing is going to teach you

Skills that are very valuable pretty much no matter what career what industry or what business you’re working for so for instance zip recruiter has a skill index and when you type in the word marketing there are a ton of marketing related skills that rank relatively well and ziprecruiter basically does these rankings by looking at how many jobs are available now

How many jobs are going to be available in the future so the annual growth the geographic breadth so how many jobs are available all over the country and then of course the salary now another thing that i like to mention when it comes to business related careers is people tend to be a little bit more financially responsible now i’m not sure if this is because they

Tend to learn things in different courses that they take during college that teach them how to be financially responsible or whether it’s because people who go into business tend to be more financially responsible it’s kind of a whole chicken or the egg thing which one came first nobody really knows but when i did my research on the majors that create the most

Millionaires you can see that the degrees that were all over the list were business related degrees i believe that it was six out of the top 10 degrees where business or business related and i do think this is partially related to the fact that people end up starting their own businesses and you know a lot of the time they’ll end up getting rich from that but i

Also think it has a lot to do with the fact that they start saving and investing at an early age and the reason they start saving and investing is probably because they have an interest in business and you pretty much have to learn about saving investing budgeting being financially responsible if you are going to be learning about business so it could be correlation

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Or causation nobody really knows and i know that that’s totally possible that it’s just correlation but you absolutely do see business related majors tending to make a lot of money throughout their lifetime now another thing to keep in mind is marketing is not one of the harder majors you don’t see a really high dropout rate like you would in engineering or some

Of the math related majors in some ways this is a good thing and in some ways this is a bad thing it’s bad because of the fact that it means a lot of people can do it and so there’s not very much of a barrier to entry pretty much anybody can do a marketing degree but it’s a good thing just because of the fact that your average person can do a marketing degree you

Don’t have to be a genius in the study that i looked at out of the most common majors marketing came in as the 54th most difficult one and that was 54 out of 55 so not very hard at all so if you’re somebody who wants to really enjoy your college experience you don’t want to be stressed out all the time or if you’re somebody who absolutely hates math you don’t want

To do a really difficult degree this might be something for you to look into on the other hand you probably want to supplement whatever you’re learning in school with some real life skills now of course this depends on what program you’re going to there’s going to be some programs that are going to teach you better than others but you’re probably going to want to

Learn something and specialize in something it’s never a bad idea to learn some computer programming some statistics you definitely want to know your way around a spreadsheet and it wouldn’t hurt if you practice a little digital marketing on the side and even better if you get an internship or a job while you’re still in college so overall i’m going to give this

One an 8 for an x factor score so some of the pros here just to kind of go over it really quickly is marketing degrees are going to be very flexible there’s also going to be a lot of jobs available out there for you a business degree isn’t all that hard i know i’m probably going to get a lot of hate from people when i say that but it’s definitely not as hard as

An engineering degree or some kind of math related degree some of the cons here are that you might learn skills that are a little bit outdated sometimes they teach you stuff that’s a little bit too general this is very common when you look at business degrees a lot of the time they’re going to teach you kind of general skills so you probably want to supplement

That with either an internship or specialize in some other way overall if you’re somebody who’s very interested in marketing you’ve done your research and you know that you want to become a marketer or go into a career path that involves getting a marketing degree then this can be an amazing option for you as always you definitely want to do your research have

A really good plan going in don’t just do marketing just because it sounds fun or anything like that you want to make sure that you do your research and have a good plan you know exactly what you want to do you know what your goal is and the exact steps that you need to take in order to get there i talk about this a lot in my other videos so check those videos

Out if you don’t know what i’m talking about the overall score here is going to be 8.125 out of 10. that is quite high that’s pretty good if you haven’t done it already go ahead and gently tap the like button in order to defeat the evil youtube algorithm smash the subscribe button and ring that notification bell and then comment down below any thoughts comments

Criticisms etc that you have on the video and whatever you do don’t leave check out my other videos right here i made them just for you you

Transcribed from video
Is a MARKETING DEGREE worth it? By Shane Hummus