A Music Business MBA merges business sense and artistic interests in a beneficial manner. While a degree is certainly not necessary to get into this type of entertainment field, having a solid educational background will definitely enhance one’s career. Entry requirements and prerequisites required to join the music business MBA degree – Students must have at least a four-year degree, preferably in a music theory program, and some schools will be more stringent in their requirements. A placement exam or personal interview may be part of the application process, especially in the more exclusive educational institutions, and some may look at the GPA during previous college education or require a written essay as to why they believe they should be accepted as a student.
Music Business Training and Education
Entry requirements and prerequisites required to join the music business MBA degree – Students must have at least a four year degree, preferably in a music theory program, and some schools will be more stringent in their requirements. A placement exam or personal interview may be part of the application process, especially in the more exclusive educational institutions, and some may look at the GPA during previous college education or require a written essay as to why they believe they should be accepted as a student.
This degree also provides a good understanding of things such as business plans, accounting, budgeting, and investing, important for the small business owner. This degree program is designed to prepare musicians with leadership and skills to take on the industry with confidence and success.
Music Business Careers
A good majority of those who pursue the graduate level degree are very serious about starting a career of their own or becoming a part of an existing one. Common career pursuits include: record label owner, tour manager, recording studio owner, concert promoter or management company owner.
Estimated Income and Projected Career Growth
Musicians with a graduate level degree can expect to earn more than those with only an associate or bachelor’s degree. However, the income range varies greatly depending upon the specific type of career that one might be involved in. For example, a producer has an average median salary of $40,000 to $60,000.
Marketing managers can expect to earn as much as $120,000. Experience will also play into one’s pay scale in this industry. And those who are fortunate enough to land a job with a musician with “celebrity status” will definitely land on the higher end of the pay scale.
According to some statistics, media production managers earn approximately $68,283 annually. On the other hand, many musicians are paid by the gig, and these individuals may face periods with little work, as well as more plentiful times. Having a high degree will ensure that potential employers take a second look at that portfolio or resume.
Despite a lagging economy, many people aspire to be musicians, and avid fans will always pay to hear their favorite singers. Because of this, much of the music industry continues to be lucrative. While there is musical talent, there is a need for those who are capable and educated to manage the business side including those with a music business MBA degree.
Programs in Entertainment and Music Business Management
- Entertainment Business, Master of Science (Online)
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