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Offbeat
MBA Marketing or MBA Finance? Choose the best
 
(Dec 7, 2017): MBA in Marketing as well as MBA in Finance, both of the courses have their own importance and taking admission in these academic courses is indeed difficult. It is a fact that choosing between these two options may be difficult for any MBA aspirant. As the demand for both of these courses is high, for your ease we wish to make your decision- making process easy.

How to analyze which one is better?

It is important to consider the future prospectus as well as the basic pros and cons of the jobs which are related to MBA Marketing or MBA Finance. A comparison is given below which will provide a more transparent view of the two specializations in MBA from the grass-root level:

Technical Skills Required

If we consider the MBA in Finance, it is important that an aspirant should be from a prominent commerce background, and he or she should have proper knowledge of stock market and its trends.

Apart from this, the person should be well acquainted with the day to day necessities such as knowledge of financial instrument or even the common statements which are being used in this domain. Also, a professional with high expertise in MS Excel is preferred over the other candidates.

Considering the MBA in Marketing, irrespective of any background, an individual should have the basic sense of marketing. As we all know, SWOT analysis is an important segment of marketing apart from the basic target-based pitching. One should be well aware of these skills or otherwise, they should be keen enough to learn them quickly.

Personal Skills Required

If we consider MBA in Finance, it is extremely important that one should have a strong bend towards statistics. Apart from this, one should be solution-oriented and he or she should not hesitate to take a risk in his or her career.

On the other hand, for MBA in Marketing, the foremost thing which is required involves the conception of unique ideas. Marketing is all about viewing the product in a different way so as to showcase it in a more attractive manner. In order to achieve this, one should be courageous as well as an excellent communicator to ensure that he or she fulfills the assigned or dedicated target.

Curriculum

Curriculum of MBA in Finance includes effective analysis of Portfolio Management, Hedge Funds, Financial Institution and Markets, International Financial Markets as well as insurance management.

On the other hand, MBA in Marketing focuses on a detailed study of Consumer Behavior, Brand Management, Customer Relationship Management, Digital as well as Retail Marketing as well as Market Research.

Initial Salary Offered

For both MBA Finance and MBA Marketing, the initial salary usually depends upon both the recruiter and also the experience which is being carried by the candidate in the specific field. If we consider MBA Finance, the initial salary is expected to start from 3,50,000.

In case, an individual has previous work experience, then the salary is expected to vary, for 1-4 years of work experience, the salary is expected to be around 4lakh, while a person with work experience of more than 20 years can expect a fine sum of 2,866,678 in his or her salary account.
But after MBA in Marketing, one can expect his or her initial salary to be 3,00,000.

With the subsequent increase in the work experience, the individual is expected to witness a hike in his or her salary. For example, if the individual is having experience of 1-4 years, he or she can expect a minimum of 4,63,058 while with more than 20 years of experience, the salary can be estimated to be 2,996,339.

Nature of Job

As we all know, Finance is all about probability and learning from the past analysis. It involves the prior analysis of a particular trend or investment and then the evaluation on the basis of reasoning. This is a fact that the jobs associated with MBA in Finance are risk-oriented in nature.

Also, we are well aware of the fact that Marketing is all about innovations. The jobs related to MBA in Marketing are mainly based on creativity, innovations, brand reputation, customer segmentation as well as outreach generation.

Scope of Job

The domain which one can expect after a Finance specialization revolves around the banking sector, mutual fund sector, stock market, insurance sector and much more. For the people who want to start their career after MBA in Finance, they can expect job opportunities for the post of an accountant, budget analyst, tax planner, broker, estate planner, investment banker, consultant, general manager or even chief financial officer.
While on the other hand, the domain of Marketing revolves around the retail industry, hospitality industry, business analytics or even advertising industry. One can expect job opportunities for the post of a media planner, a sales associate, Customer Relationship Executive, Product Manager, Brand Manager and much more

Renowned Institutes

These are the most sought-after colleges for MBA Finance: Indian Institute of Management, Ahmedabad (IIM A), Indian Institute of Management, Calcutta (IIM C), Indian Institute of Management, Bangalore (IIM B), Xavier’s Labor Research Institute Jamshedpur (XLRI)
Jamnalal Bajaj Institute of Management Studies, Mumbai (JBIMS)

These are famous colleges for MBA Marketing: International School of Business & Media (ISB&M), Pune, N. L. Dalmia Institute of Management Studies and Research, Mumbai, School of Management, KIIT University, Bhubaneswar, SP Jain Institute of Management and Research (SPJIMR),Mumbai

This detailed analysis has revealed that both of these specializations offers different advantages. So, in a nutshell, it depends upon the personality of the individual as he or she should decide the specialization for which he or she should opt. Thus, along with analyzing the career prospects and future prospectus of the two courses, one should also analyze his or her personality and interest as that will somehow determine the rate of success the person will experience.

Source-Collegedunia


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