Finance vs. Marketing - Which is the Best Specialization in MBA
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:
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.
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.
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 -
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:
Vinod Gupta School of Management - [VGSOM], Kharagpur, Department Of Management Studies,
Indian Institute of Technology - [DMSIIT], Roorkee, Department of Management Studies,
Indian Institute of Technology - [DMSIIT], Roorkee, and NIT Trichy, Tiruchirappalli are few of the best colleges for MBA marketing.
MBA Finance vs Marketing salary in India
| Years of experience | MBA Finance | MBA Marketing |
| Average | Rs 7.10 lpa | Rs 7.40 lpa |
| Less than 1 year | Rs 3.20 lpa | Rs 3.10 lpa |
| 1-4 years | Rs 4 lpa | Rs 4.50 lpa |
| 5-9 years | Rs 7.20 lpa | Rs 6.90 lpa |
| 10-19 years | Rs 14.80 lpa | Rs 13.90 lpa |
| 20 years or more | Rs 28 lpa | Rs 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 Questions (FAQs)
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.
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.
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.
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.
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.
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.
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.
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.
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.
In IT companies you can work as a pre-sales executive and business analyst.
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Questions related to Marketing Management
Hello Mahendra,
If you're interested in digital marketing, it’s an exciting field with a wide range of opportunities in areas like social media, content marketing, SEO (Search Engine Optimization), email marketing, and paid advertising. Here’s a quick guide on how to start:
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Learn the Basics : Start by understanding core concepts such as SEO, content marketing, social media marketing, and email campaigns. You can find beginner courses on platforms like Coursera, Udemy, and Google’s Digital Garage, which offer certifications that add value to your resume.
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Gain Practical Skills : Digital marketing is hands-on, so practice is key. Try managing your own social media page, writing blogs, or creating a website to apply what you learn. Experimenting with tools like Google Analytics, HubSpot, and Canva will help you build relevant skills.
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Stay Updated : Digital marketing trends change often. Follow blogs, listen to podcasts, and join forums to keep up with the latest strategies. Websites like Moz, Neil Patel, and Social Media Examiner are great resources.
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Consider Specializing : Once you have a good overview, you might find yourself drawn to a specific area like social media or content strategy. Many digital marketers specialize in one or two areas to become experts.
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Build Your Network : Connect with other digital marketers through LinkedIn and online communities. Attend webinars, workshops, or events to learn from others in the industry.
With these steps, you’ll be on a solid path to building a career in digital marketing!
For more details, you can check out an article by Careers360 whose link is given below:
Link: https://www.careers360.com/courses/digital-marketing-course
I hope this answer helps you. If you have more queries then feel free to share your questions with us we will be happy to assist you.
Thank you and wishing you all the best for your bright future.
hello
Yes, there are many free digital marketing courses available online. Here are some popular options:
1. Google Digital Garage: Offers free certification in digital marketing, including search marketing, email marketing, and more.
2. HubSpot Academy: Provides free training and certification in inbound marketing, sales, and customer service.
3. Facebook Blueprint: Offers free certification in Facebook advertising and marketing.
4. Coursera: Partners with top universities to offer free online courses on digital marketing.
5. edX: Offers free online courses and certifications in digital marketing from leading institutions.
6. Udemy: Offers a range of free digital marketing courses, although some may require payment for certification.
7. Digital Marketing Institute: Offers a free introductory course in digital marketing.
8. Hootsuite Academy: Offers free certification in social media marketing.
9. SEMrush Academy: Offers free courses and certifications in SEO, PPC, and content marketing.
10. YouTube: Many digital marketing experts share free knowledge and tutorials on YouTube.
Keep in mind that while these courses are free, some may require payment for certification or advanced training.
Hello aspirant,
Now a days digital marketing has become one of the very important marketing domain and it has a far reaching impact on common customers.
Yes you can definitely learn digital marketing at home as there are many online courses available which will make you pro in this at your home.
Thank you
Hope this information helps you.
Hey there! Welcome to Careers360. I'm glad you reached out about your daughter's MBA admission. Congrats to her on scoring 77.7 in the MH MBA CET! That's a solid score. Let me help you out with the info you're looking for.
1. Government or private college:
I'd need to know which specific college you're asking about. The MH MBA CET score is used for admissions to both government and private colleges in Maharashtra. Without knowing the particular institution, I can't say if it's government or private.
2. Degree provided:
Most colleges offering MBA programs through MH MBA CET provide a Master of Business Administration (MBA) degree. It's typically a two-year full-time program.
3. Subjects offered:
The core subjects are usually common across MBA programs, but for specializations, it again depends on the specific college. However, the specializations you mentioned - Finance, Marketing, and HR - are pretty standard offerings in most MBA programs. Many colleges also offer additional specializations like Operations, International Business, IT Management, etc.
4. Fee structure:
This varies quite a bit between colleges. Government colleges are generally cheaper than private ones. The annual fees can range anywhere from around Rs.50,000 in some government colleges to over Rs.5 lakhs in top private institutions.
5. Placement and recruiters:
This is also college-specific and can vary greatly. Top colleges in Maharashtra often have good placement records with recruiters from various sectors visiting the campus. But it's always a good idea to check the placement statistics of individual colleges.
Look, to give you more accurate and specific information, I'd need to know which colleges you're considering. Why don't you tell me a few colleges you have in mind? Or if you'd like, I can suggest some good MBA colleges in Maharashtra based on your daughter's CET score. Just let me know what you prefer, and I'll be happy to help further!
Just have a look: link
Hy,
Transitioning from a PCB (Physics, Chemistry, Biology) background to a field like Hospital Management can be challenging due to the distinct differences in the subject matter. However, it is certainly possible and can be successful with the right approach. Here’s how a PCB student can effectively move into Hospital Management, which includes areas like marketing, finance, and accounting:
1. Understanding Hospital Management
Hospital Management encompasses various aspects including:
- Operations Management: Overseeing the day-to-day functioning of a hospital.
- Marketing: Promoting hospital services and managing public relations.
- Finance and Accounting: Handling budgeting, financial planning, and accounting.
- Human Resource Management: Managing staff and ensuring effective human resource practices.
2. Bridging the Knowledge Gap
As a PCB student, you might not have a background in business or management. Here’s how you can bridge the knowledge gap:
-
Pursue Relevant Education:
- Postgraduate Studies: Consider pursuing a Master’s in Hospital Management, Healthcare Management, or a related field. Many programs are designed to accommodate students from diverse educational backgrounds.
- Certification Courses: Enroll in certification courses related to hospital management, healthcare finance, and marketing. These courses can provide foundational knowledge and skills.
-
Online Courses and Workshops:
- MOOCs and Online Platforms: Websites like Coursera, edX, and Udemy offer courses in healthcare management, finance, and marketing. These can help you gain relevant skills and knowledge.
3. Gaining Practical Experience
- Internships: Look for internships or part-time positions in hospitals or healthcare settings. This hands-on experience will help you understand the operational and management aspects of the industry.
- Volunteering: Volunteering in healthcare settings can provide insight into hospital operations and patient care, and help you build a network in the industry.
4. Developing Skills Relevant to Hospital Management
- Financial Skills: Learn basic accounting principles and financial management. Many hospitals require understanding financial reports, budgeting, and financial planning.
- Marketing Skills: Acquire knowledge in healthcare marketing, including patient engagement, brand management, and digital marketing strategies.
- Management Skills: Develop leadership and management skills. Understanding organizational behavior, human resource management, and strategic planning is crucial.
5. Networking and Professional Development
- Industry Networking: Attend healthcare management seminars, conferences, and workshops to connect with professionals in the field.
- Professional Associations: Join associations related to hospital management and healthcare. These can offer resources, networking opportunities, and professional development.
6. Leveraging Your Background
- Healthcare Knowledge: Your PCB background provides a strong foundation in healthcare, which can be beneficial in understanding medical terminology, patient care, and clinical processes.
- Critical Thinking: Skills developed during your PCB studies, such as problem-solving and analytical thinking, are valuable in management roles.
Summary
Although transitioning from a PCB background to Hospital Management requires some effort in acquiring new knowledge and skills, it is definitely feasible. By pursuing relevant education, gaining practical experience, and developing essential management skills, you can effectively bridge the gap and pursue a successful career in hospital management.
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Business Development Executive
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Content Marketing Specialist
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The Sales Manager work also includes hiring and laying off sales personnel after evaluating his or her work performance. In bigger entities, sales quotas and plans are usually set at the executive level. He or she is responsible for overseeing the set target or quotas met by salespeople or upholding any policy. He or she guides his or her fellow salespeople and allows them to sell.
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In a business analyst job role a lot of analysis is done, things are learned from past mistakes and the successful strategies are enhanced further. A business analyst goes through real-world data in order to provide the most feasible solutions to an organisation. Students can pursue Business Analytics to become Business Analysts.
Marketing Manager
A marketing manager is a person who oversees a company or product marketing. He or she can be in charge of multiple programmes or goods or can be in charge of one product. He or she is enthusiastic, organised, and very diligent in meeting financial constraints. He or she works with other team members to produce advertising campaigns and decides if a new product or service is marketable.
A Marketing manager plans and executes marketing initiatives to create demand for goods and services and increase consumer awareness of them. A marketing manager prevents unauthorised statements and informs the public that the business is doing everything to investigate and fix the line of products. Students can pursue an MBA in Marketing Management courses to become marketing managers.
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An SEO Analyst is a web professional who is proficient in the implementation of SEO strategies to target more keywords to improve the reach of the content on search engines. He or she provides support to acquire the goals and success of the client’s campaigns.
Digital Marketing Executive
Digital marketing is growing, diverse, and is covering a wide variety of career paths. Each job function aids in the development of effective digital marketing strategies and techniques. The aims and objectives of the individuals who opt for a career as a digital marketing executive are similar to those of a marketing professional: to build brand awareness, promote company services or products, and increase conversions. Individuals who opt for a career as Digital Marketing Executives, unlike traditional marketing companies, communicate effectively through suitable technology platforms.