In a 2018 corporate hiring survey, top organisations said they were looking to hire close to 81% of management graduates. Now, this survey was done before the pandemic and subsequent lockdowns, so one can assume this number may be higher as the world is emerging from a major disruption. There’s a bigger need for management professionals to restructure businesses and make everything more efficient and failure-proof. Therefore, it won’t be surprising if more students choose MBA courses. Now the question arises, which MBA specialisation?

Undoubtedly, the two most popular MBA specialisations are marketing and finance. And both have become more important in a post-pandemic world. Marketing and finance are both key industries reviving the economies around the world. The dilemma students will face is which is the better specialisation? To determine which is better, a thorough analysis of both the specialisations needs to be done to know which one aligns with your education and career goals.

What is MBA Finance All About?

The MBA in finance degree is a 2-year professional management course designed to uncomplicate the complex finance industry and teach students a deep understanding of personal finance, organisational finance, and the finance industry. The degree also teaches you financial analysis and risk management.

What is MBA Marketing All About?

The MBA in marketing degree is a 2-year professional management course aimed at making you an expert in the marketing field. From marketing products and services to understanding consumer behaviour and creating brands, the MBA in marketing is your key to a career in the dynamic marketing industry.

Difference Between MBA Finance vs. MBA Marketing

Key differences between MBA in marketing and MBA in finance:

• Marketing revolves around products, services, and a company’s brand. Finance is mostly related to finance analytics, investments, assets, and risks.
• Marketing is a mix of fieldwork and desk work. Finance is more of a numbers game where there is less or no fieldwork.
• Great communication skills and interpersonal skills will take you far in marketing, and good analytical and problem-solving skills are perfect for finance.
• A marketing professional’s main job is to increase sales of the products and services. Finance managers look after the money of the business.
• Technology has changed both industries. Digital marketing is the latest form of marketing that is becoming a dominant force. Financial analytics is having a massive impact on the finance industry.

MBA Finance vs MBA Marketing – Skills Requirements

You need a certain type of skills to do well in either industry, and these skills are quite different from each other.

MBA Finance vs MBA Marketing – Eligibility Criteria

This is one area where there is barely any difference. Since both are postgraduate degree courses, the eligibility criteria which almost the same, which is:

Similarities 

• You need to graduate from a government recognised college and university.
• 50% or above percentage is a must.
• 45% is the cut-off percentage for special and reserved category students.
• Last year students can conditionally apply.

Differences 

• While most colleges and universities allow students from all streams in marketing, some private colleges only allow students of science or commerce stream in finance. But such a condition is rare.

MBA Finance vs MBA Marketing – Admission Process and Entrance Exam

This is another aspect that is practically the same in MBA marketing and MBA finance. Here’s how the admission and entrance exam process:

• Enrol in for a competitive entrance exam like XAT, MAT, CAT, NMAT, GMAT, SNAP, and CMAT.
• Clear the exam with a strong percentile to get the college of your choice.
• Attend the college’s admission process where you’ll be tested through GD (Group Discussion) and PI (Personal Interview) rounds.
• Based on your performance in these rounds, you’ll be granted admission.

MBA Finance vs MBA Marketing – Syllabus

In both courses, there are a few similar subjects in the syllabus, but the rest are completely different. These subjects can be a parameter to judge which MBA is for you:

MBA Finance vs MBA Marketing – Benefits

MBA in Finance Benefits

• Finance is a part of every sector resulting in finance professionals being always in high demand.
• An MBA in finance teaches you all the latest financial analytics software and tools. These technologies bring in great advancement.
• Financial management is a critical operation; hence, companies are willing to pay top prices for talented MBA finance graduates.
• There are many exciting professions that an MBA in finance can lead to like an investment banker, portfolio manager, financial advisor, etc.
• An MBA in finance equips you with the best possible finance-related knowledge, making you competent enough to become an excellent investor.

MBA in Marketing Benefits 

• Marketing professionals are always in high demand as they are essential for sales and profits.
• If you are a people person, you will have a lot of fun in marketing as you get to interact with different people every day.
• An MBA in marketing helps you develop many different skills, including strong interpersonal skills, which will also help you in life.
• The modern MBA in marketing also includes digital marketing and other related certifications.
• Marketing professionals, along with a salary, also enjoy many benefits like bonuses and commissions.

MBA Finance vs MBA Marketing – Scope

The reality is that both degrees have tremendous scope. A strong marketing department can change the fortunes of an organisation while a strong finance department will help keep the organisation growing and risk-fee. Both departments play their part well. There are no similarities or overlapping in the professions in both industries but there is great demand. Technology has positively affected both industries creating many new jobs and professions that attract excellent pay packages. Though there are many differences between MBA in marketing and MBA in finance, both degrees have great scope for strong careers.

MBA Finance vs MBA Marketing – Career & Job Opportunities

Every business that is based on the sale of products and services requires marketing, and every business needs a finance department, so needless to say, an MBA in marketing and an MBA in finance open doors to many careers.

MBA Finance vs MBA Marketing – Which Should You Choose? 

It was never a question of which MBA course is better. The real question is which one is better for you. As the given information showcases, both degrees are vastly different and serve different purposes. However, they are similar when it comes to delivering quality education and opportunities arising from that education. Therefore, you have to now assess your own interest, strengths, and career goals, and choose the degree that helps you fulfil them.

Summary

Whichever degree you choose, it is paramount that you do it from the best college and university. Only then you can truly realise the full potential of the MBA course MIT ADT University offers both MBA degree courses. These courses are comprehensive and deliver the best education in the industry. There are also many other advantages you get only with MIT ADT University. So, enquire now for a seat at the best management institute for marketing and finance.