An MBA opens up a wide range of highly valued career options for a fresh graduate in any discipline, and this is evident in the enormous number of candidates which apply for this sought-after course every year. There are various MBA specializations on offer which provides graduates with an array of interdisciplinary choices. Being two of the most popular MBA concentrations, many people get confused between MBA marketing vs Finance to decide the right option suited to their qualifications and career goals. To put an end to your MBA Marketing vs MBA Finance dilemma, this blog puts forward an unbiased comparison between the two specialized MBA courses.
This Blog Includes:
- MBA Marketing vs MBA Finance: Quick Highlights
- What is MBA Marketing?
- What is MBA Finance?
- MBA Marketing vs MBA Finance: Eligibility Criteria
- MBA Marketing vs MBA Finance: Course Structure and Subjects
- MBA Marketing vs MBA Finance: Scope
- MBA Marketing vs MBA Finance: Salary
- Top Universities in the World for MBA
- How to Decide Between MBA Marketing vs MBA Finance?
MBA Marketing vs MBA Finance: Quick Highlights
|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|
Check out this video on- MBA Marketing vs MBA Finance: What Employer Want
What is MBA Marketing?
MBA Marketing is a postgraduate degree in Business Administration with its essential focus on marketing. This degree is focussed towards helping you develop a proper understanding of consumer behaviour and the functioning of the market along with marketing management in the context of different media platforms. It equips the students with the quintessential knowledge and exposure required to establish a successful career in Marketing Management.
What is MBA Finance?
This is a postgraduate degree in Business Administration with a concentration in Finance. This degree is focussed on imparting the knowledge of all finance-related needs of a company along with the required business skills. Opting for this degree teaches you the skills necessary to work for high-level and reputed management profiles in the Financial sector.
MBA Marketing vs MBA Finance: Eligibility Criteria
The eligibility criteria for both courses is more or less the same. Here are some of the general prerequisites of MBA Marketing and MBA Finance:
- Being a postgraduate course, students must have a graduate degree from a recognised institution with the minimum marks required by their chosen university.
- Although graduates from any stream and subject can pursue an MBA, it is better to have a good foundation in Financial and Accounting concepts, especially if you are opting for an MBA in Finance.
- To pursue an MBA abroad, students must appear for the GMAT exam as a majority of universities include GMAT scores as a mandatory component for evaluation while many academic institutions also accept GRE scores as well. You will also have to provide admission essays like Statement of Purpose (SOP) and Letters of Recommendation (LORs).
- Foreign Universities situated in English-speaking countries require the students to show their language prowess by taking English proficiency tests like IELTS and TOEFL.
MBA Marketing vs MBA Finance: Course Structure and Subjects
When choosing MBA Marketing vs MBA Finance, it is essential to know about the subjects that form a part of the course curriculum. Further, the duration of both these courses is generally 1-2 years and can vary as per the university of the type of MBA course [executive/part-time/full-time] you have opted for. Having in-depth knowledge about the subjects is very important for making the right choice about your MBA degree. Below we have listed out some of the important subjects of study for both the programs.
The subjects are specialized to provide a thorough insight into all marketing strategies. Some of the topics taught in this course include:
|Marketing Management||Sales Force 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|
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 Marketing vs MBA Finance: Scope
An MBA graduate can avail an immense career scope making it one of the most lucrative degrees. When it comes to career prospects, MBA Marketing graduates have an altogether distinct sector to explore when compared with MBA finance graduates. Often graduates of both the field are in demand of the leading organizations across the globe. Popular job profiles such as Social Media Manager, Financial Analyst, etc are acquired by the students upon completing the degree. Apart from the common option of exploring the job industry, you can also explore the domain of higher education. Both Marketing and Finance are diverse fields that offer an utmost degree of Ph.D. Attaining a Ph.D. degree in the field will surround you with opportunities to carry out research in field and hence enter academia.
We have detailed some of the different career prospects so that you find it easier to decide between MBA Marketing vs MBA Finance:
|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 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 to Decide Between MBA Marketing vs MBA Finance?
Even after going through the above-mentioned pointers depicting a distinction between the two popular fields of MBA, choosing one over the other is often a hard nut to crack. For all the students who are sailing on the boat to decide between the two, here are some questions that will help you-
- What is your key area of interest?
- Which subjects in your educational background have worked well in enhancing your performance?
- Do you have work experience (work-ex)? If yes, how has been your experience with the job role assigned to you?
- What is the Return on Investment that you are expecting after earning an MBA Degree?
We hope the aforementioned comparison of MBA Marketing vs MBA Finance helped you decide on the right course for you. If you are still confused about which course to opt for, reach out to our experts at Leverage Edu. We will assist you in finding the best course and university combination which aligns with your career goals and preferences! Sign up for a free career counselling session with us today!