MBA in Finance vs MBA in HR: A Detailed Comparison

Long gone are those days when a graduation degree was sufficient to secure a job. I was pondering about a real life example inspired from my cousin’s life. He has done his graduation in Economics, updated his profile on Naukri, Monster, LinkedIn, and so forth. But within a span of few months he realized that he was not getting the sort of job he was looking for.

He had graduated with distinction and is a very good orator. But that did not help him at all. His professors advised him to pursue MBA.

And, that is when he got even more confused because MBA has many specializations and he had to choose the one that would suit him the best. He was interested in both MBA in HR and in Finance but was not able to settle on one choice.

Also Read: MBA in Finance: Prospects and Career Options

Discussions with his professors, friends, and professionals in the HR and finance world helped to an extent. Some of the key things that he had to keep in mind while coming to this decision were as follows:

1) SUBJECTS of INTEREST

Whichever branch of MBA you decide to pursue, it is essential that you identify with the subjects that are offered in the program. If your favorite subject features in the program you are more likely to ace in it.

2) INDIVIDUALITY

Are you a people person or are you more comfortable solving mathematical problems?

It is no longer true that being a people person is helpful only for a HR professional. Even in finance when it comes to mergers and acquisitions, besides crunching numbers you need to be able to sweet talk the opposite party in agreeing with you. Hence, whichever field you choose, you should be ready to develop skills that are deficient.

3) AMBITION in LIFE

Is earning money is the end goal of your life or do you also want to learn and impart knowledge? Many people today are in high paying jobs, but job satisfaction is absent. Do not get into myths that MBA in finance can offer you high paying jobs whereas MBA in HR can’t. A highly skilled and developed professional irrespective of the field he is in, will always draw head hunters to bid over him.

Also Read: MBA in HR: Prospects and Career Options

Once my brother walked past the above three steps he studied the difference between MBA in HR and Finance in detail.

MBA in Finance or MBA in Human Resource?

Salary Difference as per experience

Life of an HR Professional

Contrary to popular belief, it must be noted that the HR professionals do not have an easy job. They are no longer restricted to doling out salaries at the beginning of every month. Besides recruiting new staff, they need to ensure that orientation and training programs for the new recruits are in place.

They need to be well versed with all the job roles of the company's employees and should be able to troubleshoot even in their sleep. Jokes aside, the function of a HR professional has to be cohesive in nature. They deal with the foundations of the company, the employees, everyday.

Hence it is essential that they are patient, a good agony aunt and easily approachable.

Life of a Finance Professional

Similarly a finance professional is not somebody who just crunches numbers in a cabin and is devoid of human contact.

Today a finance professional is also expected to interact with clients, understand their needs and develop a good strategy to satisfy them.

They need to maximize profits and minimize risks. They are expected to think about the big picture and not restrict themselves to their daily goals.

Top 10 MBA Specializations: Choices and Options

Conclusion

With the nature of the job roles changing rapidly, it is evident that whichever MBA program you choose, you have to be constantly upgrading and developing yourself.

It is also essential that you make your decision and be at peace with it. In case of doubts, always talk to your professors and professionals in the field who can enlighten you about the practical realities of their profession.

Confucius said,

The best way to achieve this is to choose to study something that equips you with the skills necessary for the aforementioned job.

We wish you Good Luck for a Well-Informed Future!!

Share this article in order to help others in choosing an apt MBA SPECIALIZATION. You can also post your comments or share you experience regarding what factors you considered for choosing an MBA SPECIALIZATION.

For more updates on MBA CAREER, keep visiting jagranjosh.com!!