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Finance vs. Marketing - Which is the Best Specialization in MBA

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Finance vs. Marketing - Which is the Best Specialization in MBA

Edited By Team Careers360 | Updated on Apr 03, 2023 05:32 PM IST | #Marketing Management

Finance and marketing are one of the most important aspects of any business, however small or big it is. Having a sound knowledge of the finances as well as marketing strategy is a really crucial step in the entire business life-cycle as it helps you understand the next logical step you need to take for making your business successful. It is no wonder then, that professional courses like an MBA in Finance and even MBA in marketing have had their demand increased manifold over the last 2 decades in India.

MBA in Finance Vs Marketing

The demand for finance professionals in India over the next few years is touted to increase, as per a study conducted by the Monster.com job portal, which makes it an exciting prospect for aspirants to continue with.

Master’s in business administration is one of the most loved postgraduate programs in India and across the globe. The reason is simple. MBA courses open a wide spectrum of knowledge, network, and career scope for those who opt for this field. An MBA degree holder can explore a whole new world of knowledge and experience that no other field can offer.

Though an MBA is one of those post-graduation programs that hold a lot of weightage but not all MBA degrees can create the same impact. If you are planning to do an MBA, make sure to follow the proper approach for the same. A degree just for the sake of it, or one that is pursued in a sector which has relatively lesser jobs can prove to be detrimental to your career.

1. Eligibility

In order to pursue an MBA, you can appear for a variety of national-level entrance exams such as CAT, SNAP, XAT, IIFT, CMAT, IBSAT, and NMAT. You can also appear for state-level examinations such as ICET, JEMAT, CET, etc. Many top universities and colleges conduct their own entrance examination; you can attempt those to get admissions into reputed colleges.

Colleges play an important role in shaping up your career. Make sure to prepare well for the entrance exam and score good marks in it. This is a really important step as it ensures that you secure a seat in some of the most popular MBA colleges in the country, as per your choice.

If you are a working professional, you can opt for online MBA courses., which are not just flexible in terms of timing and approach, but also provide access to a lot of new-age skills in business, finance and marketing. You can complete your masters along with your job. Also, many universities offer fast-track master’s programs for working professionals. Instead of two years, you can complete your MBA course in one year.

2. What is the importance of an MBA degree holder in India?

In the last few decades, there was a dearth of professional managers in almost every industry. Be it IT, manufacturing, imports and exports, textiles, etc. every industry requires a professional manager that can take up the job and help people with their managerial expertise. Earlier this space was usually filled by employees with 20-30 years of experience. But in the last decade, every industry witnessed a tremendous change in this approach. With thousands of MBA professionals passing out every year, every industry is hiring these MBA degree holders for their managerial positions.

3. MBA specialization

If you want to pursue an MBA course you have various specialization options to choose from. It is important to choose an option wisely as your coming career will solely depend on the field you choose. MBA finance, MBA marketing, MBA sales and marketing, and MBA human resource are the four topmost specializations that usually students choose while pursuing their MBA.

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4. Scope of MBA finance in India

MBA finance in India has huge scopes. Once you complete this course you can grow tremendously in your career and can get amazing career opportunities as well.

Here is the list of top five career opportunities for MBA finance pass outs:

  1. Chief Financial Officer: CFO is a dream job for many. The job of a CFO is to make strategies. These strategies can be beneficial for forecasting capital requirements. A chief financial officer is responsible to supervise the financial performance of the organization.

  1. Credit Risk Management: A credit risk manager is responsible for all the credits taken by the company in the form of a loan or other debts. The job requires an understanding of risk management and risk modelling framework. The hands-on knowledge of risk tools will be an add-on for those who want to work in this profile.

  1. Private Equity: After completing your MBA course you can pursue your career as a private equity professional. In this job, you need to create a calculated approach for different investors. You need to design an approach where you can calculate and predict the profit of buying a company and selling them later. Further, there are a lot of certificate courses after MBA finance that can be pursued to gain first-hand knowledge of the private equity field, or tp get a fresher-level job in a P.E. firm.

Financial Advisor: With MBA finance you can gain enough knowledge to become a financial advisor. However, if you have some working experience in the field of finance prior to completing your post-graduation program can make you more suitable for this position. Being a financial advisor, your responsibility is to provide the best investment advice to your clients.

Risk Managers: MBA courses can create so many career opportunities for you. Becoming a risk manager is one of them. This job requires good knowledge of risk management. You need to design and implement practices that can help organizations to face any potential threat.

The job opportunities are not limited to this list. Career opportunities in the field of finance are endless, few require huge experience whereas few allow you to start as a fresher.

MBA Finance or Marketing which is better?

Students usually get into the dilemma of MBA Finance or Marketing which is better? So, while elaborating on the difference between MBA Finance and MBA Marketing, we can say that MBA in Marketing includes promotion and communication regarding various products with customers and clients. MBA in Marketing focuses to increase the sales of the company and a lot of measures are taken into consideration such as Public Relations, Advertising, Market Research, and Corporate Branding.

MBA in Finance is predominantly focused on the financial aspects of the business. MBA in Finance trains students in the field of budgeting, financing, auditing, accounting, handling investments, managing financial resources, evaluating risks, analyzing data, and making financial decisions for business.

Top MBA in finance colleges in India:

Faculty of Management Studies (FMS) – Delhi University, Indian Institute of Foreign Trade (IIFT), Indian Institute of Technology Delhi – DMS, Symbiosis Institute of Business Management (SIBM), Indian Institute of Technology Kharagpur – VGSOM, and Indian Institute of Technology Madras – DMS are some of best colleges for MBA finance in India currently.

If you want to do an online MBA course you can consider these colleges -

  1. National Institute of Business Management (NIBM),

  2. ITM University, and

  3. Amity University, Noida

These universities are accredited by the relevant education bodies and are known to provide a lot of excellent online programs across business management functions, especially for MBA finance.

Scope of MBA Marketing in India

In India, the marketing industry has grown tremendously in the past two decades. This requires professionals with sound knowledge of this field. No matter if we talk about media (print and digital), social media, advertising industry, and brand management sector, the demand for professionals is increasing every day. Especially the growing pool of digital media marketing is opening tremendous opportunities for MBA marketing degree holders.

Here is the list of top five career opportunities for MBA in Marketing and Sales graduates:

Marketing Manager: This profile might sound appealing to you. Well, it is. But at the same time, it holds a lot of responsibilities too. A marketing manager is responsible to keep a close look into the recent market trends. It is their job to implement those trends into the service their company offers to its customers.

Media Planner: After completing your MBA marketing degree you can become a media planner. You can pursue this profile either in the field of print media or in digital media. A media planner is responsible for planning all the advertisements. This job requires closely working with the marketing team and ensuring to achieve all the targets.

Market Research Analyst: The job of a market research analyst is to collect relevant data and analyse it to deliver meaningful insights. These insights will further help business development teams to plan their strategies. Such professionals play an important role in developing new marketing strategies.

Brand Manager: A brand manager is considered as the face of the product among clients. A brand manager is responsible to create strategies that can attract more and more customers towards the brand. They need to work closely with the market research team to analyse the market trend and plan the brand campaign accordingly. Pursuing an MBA in advertising and marketing is the first step to a career in brand management.

Digital Marketing Manager: This is one of the most amazing job opportunities that you can get after completing your MBA in digital marketing. Being a digital marketing manager, it is expected from you to stay abreast of all the recent trends and approaches followed on different digital platforms. Almost every company has a digital presence these days and to manage and promote their digital identities they require digital marketing managers.

The job opportunities are not limited to this list. You will enter the pool of amazing opportunities after completing your MBA degree in marketing.

Top MBA in marketing management colleges in India:

MBA Finance vs Marketing salary in India

Years of experienceMBA FinanceMBA Marketing
AverageRs 7.10 lpaRs 7.40 lpa
Less than 1 yearRs 3.20 lpaRs 3.10 lpa
1-4 yearsRs 4 lpaRs 4.50 lpa
5-9 yearsRs 7.20 lpaRs 6.90 lpa
10-19 yearsRs 14.80 lpaRs 13.90 lpa
20 years or moreRs 28 lpaRs 30 lpa

Who earns more MBA in Finance or Marketing

As per sector, MBA in Marketing is getting slightly better salary as compared to MBA in Finance. The average salary in India is Rs 7.5 LPA for Marketing and Rs 7 LPA for Finance.

Conclusion

We have discussed both MBA finance and MBA marketing in detail. Both specializations hold weightage in respective fields.

However, if you have a huge passion for making a career in the field of marketing and want to see yourself as a brand manager or digital marketing manager, you should go for an MBA marketing. Also, if you are already working in the field of marketing and looking for a promotion, you can opt for this course to understand some advanced aspects of marketing that can help you grab knowledge and promotion both. If you are someone who loves to understand the logic behind risk management, or you are good at analysing the market trends you can go for an MBA finance.

The answer to which one is best among MBA finance and MBA marketing depends on your passion and your inclination towards the field. When you are deciding about specialization in a business management course it is very important to consider your field of interest. The field of business management either marketing or finance requires a lot of dedication, hard work, and innovation. If you will choose a field of specialization that interests you, the chances of your success are more.

Frequently Asked Question (FAQs)

1. What are the advantages of pursuing an MBA in Marketing?

If you like to communicate with people. If you can manage to work under pressure. This field has a lot of opportunities for you. MBA in marketing is one of the trending specializations that student’s opt-in their 2nd year of MBA program. To add more weightage to your degree you can do some certification programs such as digital marketing. This will help you stand out among others in the competitive job market.  

2. What certifications can an MBA finance student do?

Certified Information Systems Auditor, Chartered Financial Analyst, Certification in Risk Management Assurance, Project Management Professional, Financial Risk Manager, Certified in Production, and Inventory Management are few of the top-most certification programs. You can choose any of these to add more weight to your MBA finance degree.

3. What is the best industry, for an MBA finance fresher, to start a career with?

You can start your career with business finance. At entry-level you will get a position in treasurer or credit division. Where your job will be to initially analyse the applications and provide support in bank relations. Once you gain enough experience, you can apply in financial institutions or financial and risk management firms.

4. What is the difference between general MBA and Specialized MBA?

In general MBA, your first year will cover the generic business administration. In the second year, you can choose a specialization. Whereas in specialized MBA you need to choose the specialization from the start and you will complete your post-graduation program in that field.      

5. What is the best MBA Specialization?

The definition of best MBA specialization may vary from person to person. It completely depends on the field you are interested in. If you choose a specialization of your interest, you will perform extraordinarily in your academics and land a good job during your placements.

6. Which B-schools are offering Specialized MBA?

If you are interested in a specialized MBA, you should consider these colleges for your post-graduation program. NMIMS Mumbai, Institute of Foreign Trade, MDI Gurgaon, and Institute of Rural Management Anand are a few of the top-most colleges that provide specialized MBA programs for their students.  

7. What is the advantage of pursuing an MBA in finance?

MBA finance can give you a lot of career options. You can work in a bank and an IT firm. That means your career opportunities are not limited to financial institutions only. Every organization requires professionals with good knowledge of finance. Once you get some experience in this field you can apply to almost any organization in the country.

8. What certifications can an MBA marketing student do?

People pursuing MBA marketing can opt for a few of the top-most certification programs that will further add more weightage to their degree. You can opt for Google Analytics, Google Ads, HubSpot, content marketing, email marketing, digital marketing, and social marketing certification program.

9. What is the best industry, for an MBA marketing fresher, to start a career with?

As an MBA marketing professional, you can apply for a job in almost all the industries. But you should consider starting your career from any marketing firm. This will help you in getting well-versed about the process.

10. What are job profiles for MBA marketing in IT companies?

In IT companies you can work as a pre-sales executive and business analyst.  

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Questions related to Marketing Management

Have a question related to Marketing Management ?

Hello,

Consider these short-term marketing courses:

1 Digital Marketing

2 Marketing Analytics

3 Social Media Marketing

4 Brand Management

5 Market Research

6 Content Marketing

7 Sales and Marketing

8 Retail Marketing

Choose based on your interests and career goals.

hope this helps you,

Thank you

The fee structure for BBA in marketing in india can vary widely depending on the institution, it's location, reputation and other factors. Generally fees for BBA programs in India range from around 50,000 to 3,00,000 per year and more in private colleges. Government and public universities usually have lower fees compared to private institutions.

To know more about BBA in Marketing, click on the below link.

https://www.careers360.com/courses/bba-in-marketing


Hello aspirant,

Bachelors of Business Administration (BBA) stands as a widely sought-after undergraduate program, providing students with crucial skills for success in the business realm. It is a common choice post-class 12. The selection of an apt BBA specialization is vital, allowing candidates to align their education with personal interests and career aspirations. Popular BBA specializations encompass finance, marketing, international business, human resource management, and various others, enabling students to tailor their academic journey accordingly.

For more information you can visit our website by clicking on the link given below.

https://bschool.careers360.com/articles/bba-specialisations

Thank you

Hope this information helps you.

Hello aspirant,
The Executive MBA, abbreviated as EMBA, is a postgraduate program concentrating on business administration and management. The course, known as Executive Master of Business Administration, typically spans one to eighteen months, fostering the enhancement of skills like business acumen and leadership. EMBA encompasses diverse subjects including finance, marketing, human resource management, operations management, and business analytics.

To know the best colleges, you can visit the following link:

https://www.careers360.com/courses/executive-mba

Thank you

Hope it helps you

Hello,


firstly, lets denote:

F as the number of students who passed in finance,

M as the number of students who passed in marketing,

B as the number of students who passed in both subjects,

X as the total number of students in the class.


Given:

60% pass in finance----   F = 60X/100= 0.6X

Among those passed in finance, 33 1/3% passed in marketing:  M = 0.333F = 0.333(0.6X)

150 failed in both subjects: B = 150

1/3rd of students who passed in marketing failed in finance:  0.333M = 1/3* (0.6X - B)


To find the number of students in the class:

B = 0.333F + 0.667M - B

B = 0.333(0.6X) + 0.667(0.333(0.6X)) - 150

B = 0.2X + 0.133X - 150

B = 0.333X - 150

150 = 0.333X - B

150 = 0.333X - 150

300 = 0.333X

X= 300/0.333

X= 90(approx)


So, there are approximately 900 students in the class.


Now, to find the percentage of students who failed in finance only, we need to find the number of students who failed in finance but passed in marketing.

Failed in finance only=  0.6X - B

Failed in finance only= 0.6(900) - 150

Failed in finance only = 540 - 150

Failed in finance only= 390


To find the percentage, divide by the total number of students and multiply by 100:

Percentage of students who failed in finance only= (390/900)*100%

Percentage of students who failed in finance only= 43.33%


So, approximately 43.33% of students failed in finance only.



Hope this helps,

Thank you

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An individual who is pursuing a career as a producer is responsible for managing the business aspects of production. They are involved in each aspect of production from its inception to deception. Famous movie producers review the script, recommend changes and visualise the story. 

They are responsible for overseeing the finance involved in the project and distributing the film for broadcasting on various platforms. A career as a producer is quite fulfilling as well as exhaustive in terms of playing different roles in order for a production to be successful. Famous movie producers are responsible for hiring creative and technical personnel on contract basis.

2 Jobs Available
Copy Writer

In a career as a copywriter, one has to consult with the client and understand the brief well. A career as a copywriter has a lot to offer to deserving candidates. Several new mediums of advertising are opening therefore making it a lucrative career choice. Students can pursue various copywriter courses such as Journalism, Advertising, Marketing Management. Here, we have discussed how to become a freelance copywriter, copywriter career path, how to become a copywriter in India, and copywriting career outlook. 

5 Jobs Available
Vlogger

In a career as a vlogger, one generally works for himself or herself. However, once an individual has gained viewership there are several brands and companies that approach them for paid collaboration. It is one of those fields where an individual can earn well while following his or her passion. 

Ever since internet costs got reduced the viewership for these types of content has increased on a large scale. Therefore, a career as a vlogger has a lot to offer. If you want to know more about the Vlogger eligibility, roles and responsibilities then continue reading the article. 

3 Jobs Available
Publisher

For publishing books, newspapers, magazines and digital material, editorial and commercial strategies are set by publishers. Individuals in publishing career paths make choices about the markets their businesses will reach and the type of content that their audience will be served. Individuals in book publisher careers collaborate with editorial staff, designers, authors, and freelance contributors who develop and manage the creation of content.

3 Jobs Available
Journalist

Careers in journalism are filled with excitement as well as responsibilities. One cannot afford to miss out on the details. As it is the small details that provide insights into a story. Depending on those insights a journalist goes about writing a news article. A journalism career can be stressful at times but if you are someone who is passionate about it then it is the right choice for you. If you want to know more about the media field and journalist career then continue reading this article.

3 Jobs Available
Editor

Individuals in the editor career path is an unsung hero of the news industry who polishes the language of the news stories provided by stringers, reporters, copywriters and content writers and also news agencies. Individuals who opt for a career as an editor make it more persuasive, concise and clear for readers. In this article, we will discuss the details of the editor's career path such as how to become an editor in India, editor salary in India and editor skills and qualities.

3 Jobs Available
Reporter

Individuals who opt for a career as a reporter may often be at work on national holidays and festivities. He or she pitches various story ideas and covers news stories in risky situations. Students can pursue a BMC (Bachelor of Mass Communication), B.M.M. (Bachelor of Mass Media), or MAJMC (MA in Journalism and Mass Communication) to become a reporter. While we sit at home reporters travel to locations to collect information that carries a news value.  

2 Jobs Available
Corporate Executive

Are you searching for a Corporate Executive job description? A Corporate Executive role comes with administrative duties. He or she provides support to the leadership of the organisation. A Corporate Executive fulfils the business purpose and ensures its financial stability. In this article, we are going to discuss how to become corporate executive.

2 Jobs Available
Multimedia Specialist

A multimedia specialist is a media professional who creates, audio, videos, graphic image files, computer animations for multimedia applications. He or she is responsible for planning, producing, and maintaining websites and applications. 

2 Jobs Available
Welding Engineer

Welding Engineer Job Description: A Welding Engineer work involves managing welding projects and supervising welding teams. He or she is responsible for reviewing welding procedures, processes and documentation. A career as Welding Engineer involves conducting failure analyses and causes on welding issues. 

5 Jobs Available
QA Manager
4 Jobs Available
Quality Controller

A quality controller plays a crucial role in an organisation. He or she is responsible for performing quality checks on manufactured products. He or she identifies the defects in a product and rejects the product. 

A quality controller records detailed information about products with defects and sends it to the supervisor or plant manager to take necessary actions to improve the production process.

3 Jobs Available
Production Manager
3 Jobs Available
Product Manager

A Product Manager is a professional responsible for product planning and marketing. He or she manages the product throughout the Product Life Cycle, gathering and prioritising the product. A product manager job description includes defining the product vision and working closely with team members of other departments to deliver winning products.  

3 Jobs Available
QA Lead

A QA Lead is in charge of the QA Team. The role of QA Lead comes with the responsibility of assessing services and products in order to determine that he or she meets the quality standards. He or she develops, implements and manages test plans. 

2 Jobs Available
Structural Engineer

A Structural Engineer designs buildings, bridges, and other related structures. He or she analyzes the structures and makes sure the structures are strong enough to be used by the people. A career as a Structural Engineer requires working in the construction process. It comes under the civil engineering discipline. A Structure Engineer creates structural models with the help of computer-aided design software. 

2 Jobs Available
Process Development Engineer

The Process Development Engineers design, implement, manufacture, mine, and other production systems using technical knowledge and expertise in the industry. They use computer modeling software to test technologies and machinery. An individual who is opting career as Process Development Engineer is responsible for developing cost-effective and efficient processes. They also monitor the production process and ensure it functions smoothly and efficiently.

2 Jobs Available
QA Manager
4 Jobs Available
AWS Solution Architect

An AWS Solution Architect is someone who specializes in developing and implementing cloud computing systems. He or she has a good understanding of the various aspects of cloud computing and can confidently deploy and manage their systems. He or she troubleshoots the issues and evaluates the risk from the third party. 

4 Jobs Available
Azure Administrator

An Azure Administrator is a professional responsible for implementing, monitoring, and maintaining Azure Solutions. He or she manages cloud infrastructure service instances and various cloud servers as well as sets up public and private cloud systems. 

4 Jobs Available
Computer Programmer

Careers in computer programming primarily refer to the systematic act of writing code and moreover include wider computer science areas. The word 'programmer' or 'coder' has entered into practice with the growing number of newly self-taught tech enthusiasts. Computer programming careers involve the use of designs created by software developers and engineers and transforming them into commands that can be implemented by computers. These commands result in regular usage of social media sites, word-processing applications and browsers.

3 Jobs Available
Product Manager

A Product Manager is a professional responsible for product planning and marketing. He or she manages the product throughout the Product Life Cycle, gathering and prioritising the product. A product manager job description includes defining the product vision and working closely with team members of other departments to deliver winning products.  

3 Jobs Available
Information Security Manager

Individuals in the information security manager career path involves in overseeing and controlling all aspects of computer security. The IT security manager job description includes planning and carrying out security measures to protect the business data and information from corruption, theft, unauthorised access, and deliberate attack 

3 Jobs Available
ITSM Manager
3 Jobs Available
Automation Test Engineer

An Automation Test Engineer job involves executing automated test scripts. He or she identifies the project’s problems and troubleshoots them. The role involves documenting the defect using management tools. He or she works with the application team in order to resolve any issues arising during the testing process. 

2 Jobs Available
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