MBA in Finance Vs Marketing: Which is Better?
September 11, 2019
There is no denying that finance and marketing are two of the most popular specializations in MBA. However, if you are planning to start a career in the same, then you may wonder which is the best MBA specialization for the future. Let’s take a closer look at both.
MBA Finance Vs MBA Marketing
The finance department is responsible for utilizing the finances of an organization in the best way possible to maximize profits and reduce losses. On the other hand, the marketing department is responsible for taking the products and services of an organization to a larger demographic so that the customer base and revenue of the organization can be expanded.
The following are some of the main differences between MBA in marketing and finance:
- Skills required: To specialize in finance, you need to have a good understanding of analytical and statistical tools, understand risk management and capital budgeting. If you want to venture into marketing, then it will help to have the knowledge of branding, copyrighting, advertisements, and promotional events.
- Tasks: MBA professionals who work in finance manage IPOs, capital, and investments. They also communicate with top management on a regular basis. Those who work in marketing conduct market research, work with advertisers and promoters to increase revenue.
- Salary: The average salary of a financial analyst is ₹570,000 per year, and that of a marketing executive is ₹380,000 per year.
As you can see, the role and responsibilities of MBA professionals in finance and marketing vary a lot. So, you can’t get an easy answer to the question:
which is better: MBA in finance or marketing? You need to understand what you are looking for if you want the best career. Of course, you can improve your career further by enrolling in appropriate courses like a post-graduate diploma in banking and finance at the best institute for MBA in Mumbai.