MBA Finance vs MBA Marketing, Which is best?

MBA Finance vs MBA Marketing, Which is best?

You will accept that the excitement of doing MBA in a business school of your choice is something incomparable. All those hard days of spending several hours preparing for the entrance examination are now gone. Now, you have the excellent fruit for the hard work in the form of a seat for an MBA in a reputed college.

Of course, most students do not think about the branch to choose at this stage. They would have already decided. However, some of them just shortlist a few branches. For instance, many of them shortlist MBA in finance and Marketing. If you are one such individual, you might have started thinking about which one to choose. Here is a comparison to help you.

Ask yourself certain questions:

If you are confused about selecting a suitable branch in the MBA, you will have to ask yourself the following questions to decide:

  • What is your area of interest?
  • Do you have work experience? If yes, what is your area of experience?
  • What is your educational background?
  • What is the return on investment you expect from the MBA course?

Answers to these questions:

You can choose one of the answers in each of the column below for the questions above:

Area of Interest

Educational Background

Return on Investment

Work Experience

Marketing

Commerce

Investment – Rs.10 Lakhs

No work experience

Sales

Science

Expected Salary – Rs.10 Lakhs per annum

 

People Management

Mathematics

 

 

Grievance Handling

Psychology

 

 

Analytical Skills

Economics

 

 

Passion for numbers

Commerce plus mathematics

 

 

So, you can choose either of the two by deciding with the ideas given above.

Comparing MBA in Finance And Marketing:

Now, let us understand the difference between marketing and finance on different grounds:

Technical skillset:

Finance:

  • Expertise in MS Excel and Tally
  • Financial Statement Knowledge
  • Awareness of the stock market
  • Liking for numbers
  • Preferable commerce background

Marketing:

  • Good understanding of target customers
  • An aggressive approach to communicate with customers and to persuade them to sell products
  • Ability to conduct SWOT Analysis
  • Knowledge of marketing strategies

With the list of technical skills required for finance and marketing, you can judge which will be the best option for you.

How about incentives?

When you compare the incentives you can get after you complete your MBA Finance or marketing, you can expect an initial pay of around Rs.3,50,000 after you complete your MBA in Finance, while in the case of marketing, it might be around Rs.3 Lakhs. So, you can also consider this as the deciding factor.

Career options:

After the completion of MBA in Finance, career experts believe that you can get a job in the following positions:

  • Chief Financial Officer
  • General Manager
  • Manager
  • Financial Consultant
  • Assistant Manager
  • Estate Planner
  • Investment Banker
  • Tax Planner
  • Broker
  • Accountant

When you complete your MBA in marketing, you might get the following job openings:

  • Chief Marketing Officer
  • General Manager
  • Digital Marketing Head
  • Regional Manager
  • Corporate Sales Head
  • Product Manager
  • Brand Manager
  • Media Planner
  • Market Research Analyst
  • Marketing Executive
  • Customer Relationship Executive
  • Sales Associate

Career Scope:

If you plan to take up MBA in Finance in IIM, you should, of course, know the MBA in finance syllabus IIM. However, knowing this alone is not enough, you should be aware of the industries in which you can get a career opportunity when you take up the Finance Stream in your MBA course. They are:

  • Research Field
  • Academics
  • Consultancy
  • Insurance
  • Mutual Fund
  • Stock Market
  • Banking

Now, what are the industries that will open up opportunities if you get an MBA in Marketing? They are:

  • Advertising
  • Hospitality
  • Business Analytics
  • Digital Marketing
  • Researcher
  • Academician
  • Consultant
  • Retail

Best institutions:

You have already got a call letter from a reputed institution. Now, it is you, who will have to decide between an MBA in Finance and Marketing. But, if you are yet to find a college, you will also have to consider the reputed college. You might have identified a college as a reputed institution, but you will have only MBA finance in that college and not an MBA in Marketing. If this is the case, due to the reputation, you can opt for the same institution and can take up Finance.

Conclusion:

To be precise, both an MBA in finance and marketing has the same level of scope and career opportunities. However, the choice should be made purely based on your personal preference and your career goal. Wishing you a successful path ahead by choosing the best MBA Specialisation!

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