Marketing MBA VS FINANCE MBA: What Do Employees Prefer

For students aspiring to complete an MBA, there is no better feeling than to enroll themselves in a school of their choice. After all, getting an MBA opens up new possibilities and experiences for individuals in the corporate world. However, qualifying for your dream school is not the only thing to consider if you want to have a bright career in the future. There is a bigger question that individuals need the answer to in the first. That question is, which MBA degree should they go for in the first place.

Since there are a host of programs available in MBA, making a choice can sometimes be overwhelming. You could go for specialization such as HR management, entrepreneur, or consulting. But today, our topic of focus will be whether to get an MBA in finance or marketing. When you decide to go for an MBA in finance, you will study handling investments, computation, budgeting, and converting assets into money. When you go for an MBA in marketing, you will learn about public relations, advertising, and market research. These are the main differences between these two MBA specializations.

However, we should concern ourselves with how one MBA is better and what benefits one program has over the other. Today, in this article, we will share some reasons for which MBA specialization employees prefer. Some of these reasons are listed as follows:

SKILLS NEEDED FOR MBA MARKETING VS MBA FINANCE

Both specializations require you to have a few sets of skills. And both of them require different skills if you wish to succeed in one field or the other. Suppose you know your numbers and are good at number crunching and have analytical and problem-solving abilities. In that case, an MBA in finance will be the best option for you.

In another scenario, suppose you have tons of creative ideas, communication skills, and have persuasion powers. In that case, you should consider doing an MBA in marketing. While both require different skills, in the end, it is all about how effectively you use them. So, do some research, roll yourself into one of these online MBA programs, and take the full benefits that each specialization brings to you.

JOB PROSPECTS OF MBA IN MARKETING VS MBA IN FINANCE

Both fields are rewarding in their ways, and both have different scopes that lead to a successful career. After completing an MBA in finance, you can apply your trade-in to the banking and insurance sector, the stock market, mutual funds, the finance department of a company, or investment banking.

For those who have a passion for marketing and want to pursue their MBA degree in this field, there are tons of job opportunities in e-commerce, hospitality, and retail. Digital marketing is booming nowadays due to the COVID-19 pandemic. So, individuals can look into that field as well. We can say it is all about where your passion lies. Choose wisely!

SALARY AFTER DOING MBA IN MARKETING VS MBA IN FINANCE

Nobody can deny that employees mainly consider the salary factor when deciding to go for an MBA specialization. If that is your main criteria, keep in mind that the salary in both fields varies from company to company and individual to individual. Not to mention how well you perform at your duties and responsibilities.

But, the ROI is of utmost importance to the majority of employees out there. Let’s look at some positions and the salaries for both MBA specializations. Two job posts in the field of finance are a financial manager and a financial analyst. Both earn 112,000 dollars and 86,000 dollars per year, respectively.

Two common positions in the field of marketing are a marketing manager and marketing director. A marketing director can earn around 121,000 dollars per year, while a marketing manager can earn 72,000 dollars per year. The salary prospect in both fields depends on your posts. If you work higher up, you will make a lot of money, and if you start from the bottom, expect a basic salary.

MBA MARKETING CURRICULUM VS MBA FINANCE CURRICULUM

As both these specializations are worlds apart from each other, there are differences between their curriculums. If you want to pursue a finance career, the curriculum of an MBA will be different. It will include portfolio management, risk management, hedge funds, and a study of markets and other financial institutions. Their MBA curriculum provides brand management, digital marketing, customer relationship management, and marketing research for those who want to pursue a marketing career.

ELIGIBILITY CRITERIA FOR MBA IN FINANCE VS MBA IN MARKETING

Despite having differences in the curriculum, both an MBA in marketing and an MBA in finance have the same eligibility and admission criteria. While schools and colleges prefer that you have a graduate degree, you do not need to have an educational background.

Individuals from various backgrounds, such as arts, commerce, or science, can pursue an MBA in finance or an MBA in marketing. So, the general misconception that you need to have a background in economics or commerce to specialize in finance is untrue.

The same thing is accurate for doing a specialization in the field of marketing. You do not need to have a background in marketing to an MBA in marketing. You can be from the engineering field and still enroll yourself in an MBA marketing program.

THE FINAL WORDS

This article will provide you with insight and clarity for making an efficient choice for the future of your career. However, various studies show that students prefer specializing in finance rather than marketing as the pay and growth are more. However, in the end, it entirely depends on your aspirations and what interests you the most. If you are an introvert, then marketing might not be for you. If you are outgoing and love to meet new people, then marketing is best. If you are an expert with numbers, then the finance field holds many surprises for you. Go wherever your heart leads you, and always be happy and have fun in the career of your choosing.