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MBA in Finance vs MBA in Marketing: Detailed Comparison

For a better career prospects ‘decide and choose’ which MBA degree is better for you: MBA in Finance or MBA in Marketing. Jagranjosh brings for you an easy comparative guide to shortlist an MBA major which perfectly suits your interest.

Jul 25, 2018 11:41 IST
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MBA in Finance vs MBA in Marketing: Detailed Comparison
MBA in Finance vs MBA in Marketing: Detailed Comparison

Did you ever wonder that as an MBA aspirant why do you wish to compare two fields which are entirely distinct from each other? It is because; finding a right career which is apt for your personality seems to be a tough decision. A right career which fits your personality traits and which also brings contentment is often hard to discover. Often this practice becomes tedious as there is no guarantee to emerge as a successful person. But, in this article we bring to you apparent differences which will streamline your thought process. 

Before you decide onto choosing a particular specialization in your MBA course, ask these four questions to yourself:

  1. What is your key area of interest?
  2. Which subjects in your educational background have worked well in enhancing your performance?
  3. Do you have a work experience (work-ex)? If yes, these how has been your experience with the job role assigned to you?
  4. What is the Return on Investment that you are expecting after earning an MBA Degree?

You can also use this venn diagram to jot down the answers to these queries. Thereafter, focus on this chart and analyse which specialization holds a better future for you.

After gaining a clear idea about these questions, you would be able to gauge which specialization is worth investing.

Through this article, we would provide you a snapshot of the primary differences between both the specializations. These differences are the cornerstone of rational decision making for an MBA aspirant.

In addition, they would also help you in the process of introspection which is mandatory before making a mark in your destiny. One right step can promise you a bright future, whereas one wrong move can wither the existing wealth possessed by you.

So use your right to information and become aware of the difference between finance and marketing specializations. 

MBA in Finance versus MBA in Marketing

Basis

Finance

Marketing

Technical Skill Set

Commerce background preferable

Penchant for numbers,

Stock-market awareness

Knowledge of Financial Instrument

Know-how of financial statements etc.

Expertise of MS Excel, Telly

Knowledge of marketing strategies

Ability to conduct SWOT analysis

Aggressive approach to sell/persuade/communicate with customers

Comprehensive understanding of target customers

Personal 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

Exceptional Communication skills (Soft Skills)

Critical Thinking

Agility for learning technology

Result/Target Oriented

Power to persuade

Knowledge-seeker

Curriculum

Financial Institutions and Markets, Portfolio Management, Hedge Funds, International Financial Markets, Insurance Management

Marketing Research, Consumer Behaviour, Brand Management, Customer Relationship Management, International Marketing, Digital Marketing, Retail Management

Financial Incentives

Initial Salary: Rs. 3,50,000/-

Initial Salary: Rs. 3,00,000/-

Career Path

Accountant

Broker

Tax Planner

Investment Banker,

Estate Planner

Assistant Manager

Consultant

Manager

General Manager

Chief Financial Officer

Sales Associate

Customer Relationship Executive

Market Research Analyst

Media Planner

Brand Manager

Product Manager

Corporate Sales Head

Regional Manager

Digital Marketing Head

General Manager

Chief Marketing Officer

Scope of Job

Banking Industry,

Stock Market

Mutual Fund Industry

Insurance Sector

Consultancy

Academician

Researcher

 

Retail Industry

Consultant

Academician

Researcher

Digital (Content) Marketing

Business Analytics

Hospitality Industry

Advertising Industry

Nature of Job

Risk-oriented,

Analytical

Profitability oriented

Facts and forecast based

Reasoning based

Involves financial bearing

Creative,

Innovation in running campaigns

Content Oriented

Reputation/Image oriented

Positive outlook

Enthusiasm and zeal for selling

 

Top Professionals to follow

David Ogilvy (Ogilvy & Mather)

Theodore Levitt (professor at Harvard Business School)

C K Prahalad (Originator of Bottom of the Pyramid)

Nandan Nilekani (Chairman - Infosys)

Sachin and Binny Bansal (Flipkart)

 

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)

Azim Premji (Chairman – Wipro)

Read Also – MBA in Marketing: Career Options & Prospects

Best Paying MBA Major(s)

Also take a look at the table and graph given below which highlights the career growth of both MBA (finance) and MBA (marketing) professionals in terms of the salary earned by them. Salary is an important factor which acts as a catalyst in choosing a particular specialization because people often consider the ROI of this premium degree.

Salary Difference as per experience

Experience

MBA in Finance

MBA in Marketing

Less than 1 year

Rs 305,352/-

Rs 310,096/-

1-4 years

Rs 395,118/-

Rs 463,058/-

5-9 years

Rs 721,407/-

Rs 686,957/-

10-19 years

Rs 1,422,938/-

Rs 1,484,063/-

20 years and more

Rs 2,866,678/-

Rs 2,996,339/-

Source: Payscale.com

Read Also – MBA in Finance: Career Options & Prospects

This graph provides a bird’s eye view that there is not much difference between the salaries earned by both the professionals. It is because both the majors have their distinct strategic importance for the growth and sustainability of the organization

MBA Major Preference: Global Data

Another crucial consideration which we would like to bring to the knowledge of our readers is the global preference of MBA Majors. As per the survey conducted by GMAC, out of the total students who were being surveyed, 22% preferred MBA (Finance) over other courses; whereas 11% preferred MBA (Marketing)

The statistics for the same can be seen below:

Image Source: GMAC (2015) mba.com Prospective Students Survey.

Versus

Image Source: GMAC (2015) mba.com Prospective Students Survey.

Conclusion

We drew a comparison between both the specialization i.e. finance and marketing in order to guide you when you are in a state of perplexity. This article will give you a clear insight in making an efficient decision for your career growth.

Although the global data shows that MBA in Finance is more preferred by the students, but Marketing major has its own merits. It entirely depends on your personality, interest and aims which should be the sole motivating factor in selecting a particular specialization.

If you are more of an introvert, critical thinker and passionate about statistics and numbers then Finance specialization is well suited for you! Whereas, if you are an extrovert and love communicating your thoughts and are able to persuade people then you should opt for Marketing specialization

Moreover, we advise that once you read about the career growth and path of the top industry pioneers, it will refine your decision-making process in a better way.

But before taking the final decision, remember the final words coming from an experienced intellectual:


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