Comparative Analysis of MBA in marketing vs Finance
MBA degree program as we all know is the most promising professional course for people who want to make a lucrative career in the field of management. Unlike any other Masters’ degree, here the students applying for MBA have to select the specialization options available at their respective B-schools. Out of so many specialization options available, MBA in marketing and finance is the most sought after field that students choose. In corporate world both marketing and finance areas are of great importance and require people with skilled managerial abilities for these departments.
Either you do specialization in marketing or finance it prepares students for management careers. The selection of courses has to be done on the basis of specific requirements, interests and goals.
The task of differentiating MBA program degree in marketing vs. finance is a difficult thing. Both fields deal with completely diverse aspects of management. For instance ‘finance’ field is about organizing the capital and ‘marketing’ field is about making strategies to take over the market. Here skills required and personal characteristics differ, so is the industry demand and needs.
MBA in Marketing
MBA in marketing makes students skilled and well-trained to take marketing decisions about public relations, advertising, and communication channels and formulate strategies. Usually the course curriculum contains- ethics, economics, international sales and marketing, consumer behavior, strategic planning and so on. Students applying for MBA in marketing are given chance to select courses from sub-categories of marketing on the basis of individual goals and interests. It may comprise of areas like internet, advertising and international marketing.
Skills required: Problem solving ability, extrovert personality, communication skills, logical approach, reasoning abilities, able to take calculated risks, strong decision making & implementing skills. The MBA aspirant should know how to apply marketing strategies in a correct manner.
Focus of study: Marketing, branding, people management, sales, advertising, etc. Job Opportunities: Advertising executive, Brand manager, Business development director, Market researcher, Product manager, senior marketing analyst
Work Profile: The work profile of a candidate with MBA in marketing usually includes — setting marketing goals, developing marketing strategies, branding, communication, client research, analyzing products viability and so on.
Career demand: High
MBA in Finance
MBA in finance trains the students to take financial decisions of different types of businesses and industries. Here the students get to learn how to obtain, manage and allocate funds in any business set-up. Usually the course curriculum includes topics like — budgeting, data analysis, international business, economics, marketing, finance and financial accounting. Sub-categories include corporate finance, private equity, portfolio management, etc.
Skills required: Good communication skills, expert with numbers, reasoning ability, proper decision making skills, problem solving skills, willingness to take risks and attention to details.
Focus of study: Market analysis, economics, finance securities, costing, investments, etc.
Job Opportunities: Chief financial officer, financial analyst, financial manager, Insurance adjuster, Investment banker, Stock broker, etc.
Work Profile: Raising funds, cost management, collecting financial information, scrutinizing legal and financial aspects of new projects, etc.
Career demand: Depends of market demand.