Which One is Better - MBA in Finance or MBA in Marketing?
Everyone desires to achieve milestones in life for that there are numerous courses which can be opted by the aspirants according to their skills. MBA in Finance and MBA in Marketing are the two courses who have parallel roads which can't be met by the time. Masters of Business Administration (MBA) is a 2-years post graduate course which grants the in-sight expertise of business, finance, sales and marketing.
There are various specialization in MBA from which to choose one is a really difficult task. We all know that MBA degrees with specializations in Finance or Marketing are really highly sought fields. So, let’s try to make the aforementioned daunting chore a little simpler and get to know the insight information about which one is better an MBA in Finance or an MBA in Marketing. Although both of these specialisations include core business subjects, that have several curriculums and career options.
Key Features about MBA in Finance:
- Some of the popular subjects that the candidates study in MBA Finance are Derivatives Management, Corporate Finance, Financial Risk Management, Security Analysis & Portfolio Management and Business Accounting, etc. Some of the common finance job titles include Financial Analyst, Budget Analyst, Investment Banker, Auditor, Financial Controller, etc.
- Professionals in these fields are involved in making decisions on how to obtain, manage and distribute funds for various projects, researching and analysing investment options, auditing financials, etc.
- Studying financial management assists professionals to gain knowledge in fields like data analysis, financial accounting, and finance. A finance graduate will ensure that the business doesn’t fall short of financial resources in crucial times. In a nutshell, the road to any business’ coffers passes through the finance manager.
- If you have a passion for numbers, possess good analytical skills, and number crunching is your forte, an MBA in Finance could be the ideal choice for you.
Essential Points about MBA in Marketing:
- The core field in which the MBA Marketing graduates should focus on are sales & marketing, strategic planning, economics, financial analysis, consumer behaviour, business trends.
- The subjects that are studied by the students during the this 2-years, of course, are Digital Marketing, Pricing, Market-oriented Strategy Planning, Retail Management and Customer Relationship Management, Marketing Analytics etc.
- Some of the popular marketing jobs in which aspirants can seek their career are Marketing Manager, Market Research Analyst, Digital Marketing Specialist, Brand Manager and Sales Manager.
- The aim of the hopefuls as a manager is to enhance the revenue of the company by assuring the sales figures that are not stable and always fluctuate. Customer satisfaction is the utmost responsibility for any company and as a manager he should assist his customer. Most importantly, marketing brings in the money that finance manages.
Table Below is Showcasing the Basis Key Difference Between MBA in Finance or MBA in Marketing
MBA in Finance
MBA in Marketing
Professional Skill Set
- Commerce preferable background
- Know-how of financial statements etc.
- Stock-market awareness
- Knowledge of Financial Instrument
- The expertise of MS Excel, Telly
- Knowledge of marketing strategies
- Ability to conduct Strengths, Weaknesses, Opportunities and Threat (SWOT) analysis
- An aggressive approach to sell/persuade/communicate with customers
- Comprehensive understanding of target customers
Idiosyncratic Skill Set
- Analytical skills
- Problem-solving mind
- Statistics oriented approach
- Inquisitive mind
- Meticulous researcher
- Cautious in taking risk
- Creative Ideas
- Out-of-the-box thinking
- Power to persuade
- Exceptional Communication skills (Soft Skills)
- Critical Thinking
- Agility for learning technology
- Result/Target Oriented
- Financial Institutions and Markets
- Portfolio management
- Hedge Funds
- International Financial Markets
- Insurance Management
- Marketing Research
- Digital Marketing
- Retail Management
- Consumer Behaviour
- Brand Management
- Customer Relationship Management
- International Marketing
Initial Salary may range from Rs. 3,50,000 to Rs.4,00,000
Starting average salary may range from Rs 3,00,000 to Rs. 5,00,000.
- Tax Planner
- General Manager
- Chief Financial Officer
- Investment Banker
- Estate Planner
- Assistant Manager
- Sales Associate
- Customer Relationship Executive
- General Manager
- Chief Marketing Officer
- Market Research Analyst
- Media Planner
- Brand Manager
- Product Manager
- Corporate Sales Head
- Regional Manager
- Digital Marketing Head
Scope of Job
- Stock Market
- Mutual Fund Industry
- Insurance Sector
- Banking Industry
- Retail Industry
- Advertising Industry
- Digital (Content) Marketing
- Business Analytics
- Hospitality Industry
Nature of Job
- Reasoning based
- Involves financial bearing
- Profitability oriented
- Facts and forecast based
- Enthusiasm and zeal for selling
- Innovation in running campaigns
- Content Oriented
- Reputation/Image oriented
- Positive outlook
Renowned Professionals to follow
- David Ogilvy (Ogilvy & Mather)
- Sachin and Binny Bansal (Flipkart)
- Theodore Levitt (professor at Harvard Business School)
- Nandan Nilekani (Chairman - Infosys)
- Azim Premji (Chairman – Wipro)
- Bala Balachandran (Great Lakes Institute of Management)
- Amartya Sen (Nobel Prize winner in Economics)
- Raghuram Rajan (RBI Governor)
- Chanda Kochhar (CEO & MD – ICICI bank)
- Vikram Pandit (Indian-born American banker)