MBA Spotlight: Entertainment, Media and Technology
In 2015, the expected median starting salary for MBA graduates in the U.S. was $100,000. Add a specialization and salaries are likely to be even higher. Take technology management, for instance. Professionals in this field averaged $131,600 (or $63.27 per hour) in 2015, and the highest 10 percent averaged an impressive $187,200. Most employers require technology managers to have a graduate degree, with the most common degree being, you guessed it—an MBA.
Other emerging specialty areas include entertainment and media. Part of the major group Arts, Design, Entertainment, Sports, and Media (ADESM), entertainment and media professionals are members of a creative workforce that is more than 1.8 million strong. While salaries are not as high as they are for technology managers, high earners averaged $70,020 to $101,310 in 2015. Once again, employers of entertainment and media professionals prefer to hire candidates with a bachelor’s degree or higher. An advanced degree is preferred for management positions, and it is often a requirement.
So what does all of this mean for today’s MBA students specializing in any or all of these areas? Competitive salaries, growth, and the opportunity to be among the first to enter this emerging field. Fortunately, in many cases students do not have to choose between the three specializations. A number of schools have combined the three areas to create a unique specialization that, according to NYU Stern, enables MBA students to “understand and manage the entire spectrum of the entertainment and media business, from its impact on the economy and the digital revolution to the global opportunities that technology creates.”
Students that choose the Entertainment, Media and Technology (EMT) specialization will focus on both the content and business aspects of the industry by taking courses that cover “marketing, finance, management, accounting, legal, and economic issues facing entertainment and media firms,” says Stern. Industries covered include cable, film, home video, music, publishing, sports, and television. Sample courses may include:
- Being Digital: Search, Social Media and Crowdsourcing
- Business Development
- Business of Independent Film
- Business of Music and Film
- Business of Sports Marketing
- Business Strategy for the Digital Economy
- Craft and Commerce of Cinema:
- Film Production
- Market Research
- News & Entertainment Media
- Operations in Entertainment: Las Vegas
- Strategic Planning
- Strategy & Finance in EMT Companies
- Talent Management
- Television Management
- The Cannes Film Festiva
- –NYU Stern
According to Stern, students will have the opportunity to explore “new industry concepts” and “analyze leading companies” such as Disney, NBC Universal, Sony, Time Warner, and Viacom.
Which Schools Offer an MBA in Entertainment, Media, and Technology?
The MBA in EMT is a growing degree path and it comes in a number of different forms. As such, the program is also called Media and Technology, Entertainment and Media Management, and Media, Entertainment, and Sports, to name just a few. While program names may differ slightly, all have heavy technology, media and entertainment components.
NYU Stern has been offering the MBA in EMT for more than 10 years. However, it is no longer the only game in town. Even better is the program, in some form or another, has caught on at some of the best business schools in the country. Just a few include Harvard Business School, The University of Chicago Booth School of Management, UCLA Anderson School of Management, Columbia Business School, and Tuck School of Business at Dartmouth. Also worth considering are:
- Boston University
- Drexel University Westphal College of Media Arts & Design
- University of Maryland
- University of Minnesota Carlson School of Management
- University of Virginia Darden School of Business
If you are interested in a specific business school that does not offer all of the components of this degree, consider taking additional electives to fill any gaps. Most business programs allow students to choose a number of free electives, so inquire within. Another option is to choose multiple specializations. Many business programs allow this option as well.
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