Many of you have been asking us questions on whether to go for MBA in Marketing vs MBA in Finance. Hence your own trusted and the credible team at Career Anna thought of coming up with this article on MBA in Marketing vs MBA in Finance.
MBA in Marketing vs MBA in Finance
Before we move to the comparison, it is important for you to answer the following questions for yourself to be able to make a wise choice.
Areas of Interest
Finance: Passion for Numbers, Good Analytical Skills, Love working as Individual Contributor, Excel formulaes excite
Marketing: Sales, People Management, Grievance Handling, Outgoing Personality, Love talking, Creativity excites
We have seen few people suggesting that academic background should be a criteria here. However, we do not endorse this fact. We have seen IITians being wonderful Marketing Managers and we have seen Art guys being awesome Finance Managers – All depends on one’s interest and what excites the individual. Academic background has a limited role to impact here.
For fresher, there is no much relevance of this point. However, if you have had Sales/Marketing/Analyst/Finance experience, then you should ideally prefer to continue in the same stream and not change it post MBA to be able to leverage the prior to MBA experience effectively.
Let us now move to the actual comparison: MBA in Marketing vs MBA in Finance
Career Path and Salary Packages
There is no much difference here. All the top FMCGs/Pharma companies pay as good as any Bank to you, unless you are an Investment Banker where the salary packages shoot up exponentially. But then the work life balance of investment banker has always been a question mark.
In terms of Career Path, Usually you will start the career in Marketing in a Sales role (not door to door marketing, but managing a team of sales force). In some cases, you may even start directly with Brand Management / Marketing Manager roles. You may reach up the ladder to be the Chief Marketing Officer as well as Chief Executive Officer of the company.
In Finance, you usually start as Analyst or Assistant Managers and move up the ladder to be the Chief Finance Officer and in rare cases to be the Chief Executive Officer as well.
Objective of Job Profile
Marketing: You aim to maximize the revenues for the company. Generally salesforce and others are relatively lesser bothered about the costs, they are solely oriented towards increasing the cash inflow.
Finance: You aim to maximize the Operating Margin / Profit Margin as the Finance guy. You do not just look at the inflow of cash, but also the outflow and how to optimize it.
Nature of Job Profile
Marketing: Demands innovation and creativity, market image and brand perception oriented, demands positive outlook, enthusiasm and zeal to interact with customers, sell them the product and work on enhancing the customer stickiness to the respective product/brand.
Finance: Demands good analytical skills where you love playing with numbers, profitability oriented goals where you work more on operating margins and optimum utilization of resources, Facts and Forecast based job, involves lot of reasoning and decision making based on numbers. more of an individual role working towards the common objective as the Finance team.
Scope of Job and Sectors you can get into
Marketing: FMCG companies love Marketing guys as oxygen for FMCG companies is Sales and Marketing. This is followed by sectors like Pharmaceutical, Retail, Real Estate, Hospitality and Advertising sector. Digital Marketing is yet another very hot profile up for the grab by Marketing guys these days.
Finance: Consulting companies love Finance guys as some of their top clients do take lot of advise on Finance related aspects, be it Investments, Strategic Acquisitions etc. Then comes your Banking industry with plethora of banks offering roles varying from Wealth Management, Risk Management, Relationship Management, Credit Management etc. Insurance sector and Stocks and Mutual Fund companies being other major recruiters for MBA in Finance.
Marketing: Some of the popular subjects include Marketing Research, Consumer Behaviour, Brand Management, Customer Relationship Management, International Marketing, Digital Marketing, Retail Management etc.
Finance: Some of the popular subjects include Financial Institutions and Markets, Portfolio Management, Hedge Funds, International Financial Markets, Insurance Management, Financial Management, Risk Management, Credit Analysis, Fraud Management etc.
With this we come to an end of this article and we hope that the article was able to help you understand MBA in Marketing vs MBA in Finance in a slightly better way and highlight the different aspects which will enable you to take an informed decision on whether to go for MBA in Marketing or MBA in Finance.
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