MBA Finance vs MBA Marketing – Which is a better career choice?

Although both MBA in Finance and MBA in Marketing include core business subjects, their overall syllabi are different and so are career options. Read this article to know MBA Finance vs MBA Marketing – Which is a better career choice?

The excitement of getting into a B-school of your choice is unparalleled. All those long and tiresome nights of tackling difficult sums have paid off and you can finally bask in the glory. But there is one final decision to make: which course specialization to opt for? From Operations Management to Human Resources Management to Marketing Management, there are several options to consider when deciding the right fit. The number of options available is overwhelming and just the thought of having to choose one among them might give you many more sleepless nights.

We all know that MBA degrees with specializations in Finance or Marketing remain highly sought after. So, let’s try to make this daunting task a little simpler and get to know what an MBA in Finance and an MBA in Marketing entail.

An MBA programme specialising in Finance prepares graduates to make and review financial decisions for their future organisations. Let's take a look at both the specializations and compare their career options.

MBA Finance vs MBA Marketing – Which is a better career choice?

Key Points About MBA in Finance

• The curriculum includes several finance courses that teach students how to acquire, manage, and distribute funds in a business setting.
• Some of the popular subjects you will be studying are Derivatives Management, Financial Risk Management, Security Analysis & Portfolio Management, Corporate Finance, Business Accounting, etc. Some of the common finance job titles include Financial Analyst, Budget Analyst, Investment Banker, Auditor, Financial Controller, etc.
• Job profile: 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 helps graduates 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.

MBA in Marketing is about the marketing and sale of products and services that companies offer. Professionals make decisions regarding public relations, advertising, communication, etc. which helps them build their brand's image and promote their products. They make strategies for promoting the company, its products, and services through various online and offline channels.

Key Points About MBA in Marketing

• Strategic planning, economics, financial analysis, consumer behavior, business trends, sales & marketing are some of the areas that graduates from this field focus on.
• The subjects that you would have to study will include Digital Marketing, Customer Relationship Management, Marketing Analytics, Pricing, Market-oriented Strategy Planning, Retail Management etc.
• Some of the common marketing job titles are Marketing Manager, Brand Manager, Sales Manager, Market Research Analyst, Digital Marketing Specialist, etc.
• Your aim as a manager would be to maximize the revenue of the company by ensuring the sales figures are always up and the marketing of the product is done properly. Customer satisfaction is of utmost importance for any company and you as a manager would help achieve that. More importantly, marketing brings in the money that finance manages.

There is no dearth of opportunities in both the fields. A graduate in Finance can work in industries such as Banks, Financial Consultancies, Institutional Finance, Merchant Banking, Corporate Finance, and more, whereas a degree in the field of Marketing opens up many job avenues in Media, FMCG, Pharmaceuticals, Retail, Real Estate, Hospitality, Automobiles and other industries. Students often have this misconception that an economics graduate will perform better if he takes up MBA Finance or that engineering graduates have an advantage when it comes to number crunching. The truth is that it does not matter which academic background you are coming from. It does not matter if you are a fresher or you have work experience. Whatever you are going to learn in the two years at your B-school will decide how well you perform in your chosen specialization. There are no prerequisites for MBA, all you need is an open mind and the zeal to learn. Your academic background should play a negligible role in impacting your decision here.

Before making a choice between MBA Finance and MBA Marketing, you need to consider what your interests are and which one of the two options is a better match with the skill set you possess. You should remember that the choice you make now will impact your line of work and the nature of your job in the future.

Lastly, whether you choose an MBA in Finance or MBA in Marketing, the rules to succeed remain the same: work hard, work smart and persevere.

[This article is contributed by IMT Ghaziabad]

 
Also read: Differene between MBA Finance and CA - Course and Career Prospect