The vast number of candidates who apply for this highly sought-after course each year is proof that an MBA opens up a wide range of highly valued employment alternatives for a recent graduate in any area. There are numerous MBA specializations available, giving graduates a wide range of multidisciplinary options. Many people struggle to choose between MBA marketing and MBA finance, two of the most popular MBA majors, in order to choose the one that best fits their background and professional objectives. This blog offers a fair comparison of the two specialized MBA programs to put an end to your MBA Marketing versus MBA Finance conundrum.
MBA Marketing vs MBA Finance: Quick Comparison
|Categories||MBA Finance||MBA Marketing|
|Duration||1-2 Years||1-2 Years|
|Curriculum||Portfolio management, hedge funds, risk management, a study of financial institutes and markets||Marketing research, digital marketing, brand management and customer relationship management.|
|Skills||Number-crunching, analytical skills, an inquisitive mind and a problem-solving ability||Creative ideas, good communication skills|
|Scope||Insurance and banking sector, mutual funds, the stock market, investment banker, consultant||Hospitality, advertising, retail, digital marketing|
|Job Profile||Positive outlook, enthusiastic, outgoing, have a zeal to interact with customers||Juggling with numbers, forecasting, analyzing market trends and focusing on optimum utilization of resources|
|Average Salary||INR 7,00,000||INR 7,50,000|
What is MBA Marketing?
A postgraduate degree in business administration with an emphasis on marketing is known as an MBA Marketing. This degree program is designed to assist you in gaining a thorough understanding of consumer behavior, market dynamics, and marketing management in the context of various media platforms. It provides the students with the fundamental education and experience needed to launch a prosperous career in marketing management.
What is MBA Finance?
This is a postgraduate business administration degree with a finance concentration. This degree focuses on teaching the necessary business skills combined with knowledge of all a company’s financial demands. Choosing this degree will give you the knowledge and abilities to work in reputable, high-level managerial positions in the financial industry.
MBA Finance vs. MBA Marketing: Qualifications
The prerequisites for both programs are essentially the same. The following are some of the general requirements for MBA Finance and MBA Marketing:
- Students must have a graduate degree from an accredited institution with the minimum marks needed by their selected university because the course is a postgraduate one.
- Even though graduates from any discipline and stream are eligible to pursue an MBA, it is preferable to have a strong understanding of accounting and finance principles, especially if you plan to pursue an MBA in finance.
- Students who want to pursue an MBA overseas must take the GMAT exam because most colleges require GMAT scores as part of the evaluation process. Many academic institutions also accept GRE scores. Also required for admission are writings such as the Statement of Purpose (SOP) and Letters of Recommendation (LORs).
- Students must demonstrate their language skills by completing English proficiency exams like the IELTS and TOEFL in order to enroll in foreign universities located in English-speaking nations.
MBA Finance vs. MBA Marketing: Differences in Content
Knowing the subjects covered by the course curriculum is crucial while deciding between an MBA in Marketing and an MBA in Finance. Additionally, the length of both of these programs is typically 1-2 years, though this can change depending on the university and the type of MBA program you have chosen (executive, part-time, or full-time). Making the best decision for your MBA degree requires having in-depth knowledge of the disciplines. Several of the key areas of study for both degrees are given below.
MBA Marketing Subjects
The subjects are specialized to provide a thorough insight into all marketing strategies. Some of the topics taught in this course include:
|Marketing Management||SalesForce Management||Consumer Behaviour|
|Operations Management||Consumer and Brand Insight Strategy||New Product Strategy, Branding and Marketing|
|Forecasting, Modelling and Marketing Strategy||Marketing Channels Strategies & Decision Models||International and Multinational Marketing|
|Metrics for Marketing Performance Evaluation||Sales and Distribution Management||Digital Marketing and Social Media Management|
MBA Finance Subjects
The subjects are designed with the view of exploring the essential aspects of Financial Management, Financial Markets as well as in terms of small and big businesses. Some of the important topics included in this course are:
|Financial Modeling||Money and Banking||Structured Finance|
|Fixed Income Markets||Management Control System||Behavioural Finance|
|Infrastructure and Project Finance||Small Business and Corporate Finance||Financial Risk Management|
|Investment Analysis and Portfolio Management||Corporate Investment Management||Trading Strategies|
MBA Finance vs. MBA Marketing: Scope
The vast professional opportunities available to MBA graduates make them one of the most profitable degrees. Compared to MBA finance graduates, MBA marketing graduates have a whole other industry to consider when it comes to employment opportunities. Graduates from both disciplines are frequently sought after by the top companies throughout the world. After earning their degrees, students are qualified for well-known employment roles like social media manager and financial analyst, among others. In addition to the typical choice of researching the field of employment, you might research higher education. Both marketing and finance are broad disciplines that provide a PhD at the highest level. Possibilities will present themselves as a result of earning a PhD in the area.
In order to help you choose between an MBA in marketing or finance, we’ve outlined some of the various employment options:
|MBA Marketing||MBA Finance|
|Social Media Manager||Financial Analyst|
|Business Development Manager||Accounting Manager|
|Research Manager||Finance Officer|
|Account Manager||Investment Banker|
|Market Research Analyst||Credit Manager|
|SEO Manager||Financial Advisor|
|Brand Manager||Finance Executive|
MBA Marketing vs MBA Finance: Salary
Whether you go for an MBA in Marketing or in Finance, earning a lucrative amount of salary will be a sure-shot thing! Tabulated below are the average salaries asper experience in the field-
|Years of Experience||MBA Finance||MBA Marketing|
|Average||Rs. 7,00,000||Rs. 7,50,000|
|Less than 1 year||Rs. 3,00,000||Rs. 3,00,000|
|1-4 years||Rs. 4,00,000||Rs. 4,50,000|
|5-9 years||Rs. 7,25,000||Rs. 7,00,000|
|10-19 years||Rs. 15,00,000||Rs. 13,00,000|
|20 years or more||Rs. 28,00,000||Rs. 30,50,000|
Top Colleges for MBA Marketing vs. MBA Finance
These two courses are well-liked by students studying management. There are numerous prestigious institutions and universities in both fields. Some of the top business schools offering these two courses are listed below:
- IIM Ahemdabad
- Indian School of Business (ISB) Hyderabad
- Indian Institute of Foreign Trade (IIFT) Delhi
- BM Group of Institutions (BMGI) Gurgaon
- Manav Rachna University (MRU) Faridabad
- Lloyd School of Business (LBS) Greater Noida
- IIM Bangalore
- XLRI Jamshedpur
- IIM Calcutta
- New Delhi Institute of Management (NDIM) New Delhi
- NMIMS, Mumbai
- Alliance University, Banglore
Top Universities in the World for MBA
Now that you have gotten a comparison of MBA Marketing vs MBA Finance, you should have a look at some of the best universities around the world for pursuing your MBA degree:
|University||Country||QS Rankings 2021|
|Stanford University||United States||1|
|Wharton College, University of Pennsylvania||United States||2|
|Massachusetts Institute of Technology||United States||3|
|Harvard University||United States||4|
|HEC Paris||United States||5|
|INSEAD||Paris and Singapore||6|
|London Business School||United Kingdom||7|
|Columbia Business School||United States||8|
|IE Business School||Spain||9|
|University of California, Berkeley||United States||10|
How do I choose an MBA in marketing or finance?
Even after reading the aforementioned advice highlighting the differences between the two prominent MBA specializations, choose one over the other is frequently a difficult decision. Here are some questions that will assist all of the kids who are sailing on the boat in choosing between the two:
- Which topic most interests you?
- Which academic disciplines in the past have been effective in raising your performance?
- Do you have any professional experience? If so, how have you found the work role that was given to you?
- What return on investment do you anticipate receiving from an MBA degree?
Which is better Finance or Marketing in MBA?
There are greater employment chances for those with an MBA in finance in sectors like banks, investment and portfolio management organizations, accounts divisions of businesses, etc.
On the other hand, an MBA in Marketing offers employment opportunities, among others, in the fields of brand management, advertising, and sales operations.
Is a finance MBA difficult?
Like many MBA programs, the MBA in Finance is rigorous. However, some students might find it more challenging than other specializations because math and statistics are employed more frequently.
Is a marketing MBA good?
An MBA in marketing provides many opportunities in the industry nowadays. One of the oldest management specialties is the MBA in Marketing. If you wish to work in the industries of entertainment, media, promotions, advertising, sales, or general management, the MBA is for you.
We hope the comparison of MBA Marketing and MBA Finance stated above assisted you in selecting the best program for you. Contact our specialists at Leverage Edu if you are still uncertain about the course you should choose. We can help you identify the program and institution that best suits your tastes and career goals! Join us today for a free career counseling session!