MBA Marketing Vs Finance: Which Specialization Should You Choose?

MBA, a highly respected degree at the PG level, is a popular choice among graduates seeking higher studies. It is designed to cultivate management skills and establish themselves in business organizations. The MBA syllabus brings in a combination of theoretical and practical knowledge across various disciplines. The practical knowledge gained in an MBA program equips students to tackle real-world business challenges. What’s more, an MBA is a two-year PG program in management studies that can be pursued in regular, part-time, executive, online, or distance learning modes, offering candidates the flexibility to choose a specialization based on their interests and career prospects.

Some of the most common disciplines offered in MBA programs are General Management, Marketing, Finance, Human Resource Management, Operations Management, Information Technology, and International Business. The article discusses these specializations in detail and also suggests which specialization is better to choose.

MBA Specialization in Marketing:

An MBA in Marketing specialization is designed for students who are interested in Marketing and its other practices. The course curriculum provides a detailed understanding of marketing topics and the identification of consumer needs and products or services according to market needs. They will learn concepts like building brand value and customer engagement and develop strategies to do better than competitors. This discipline will build better emphasis on better creativity, communication, and analytical thinking. Based on these factors, marketing discipline can be known as an ideal option for students. The course outcome will bring in innovative methods to reach the consumers.

MBA Specialization in Finance: 

Another commonly opted specialization in MBA programs is financial management. Students who are interested in the financial stream can opt for this specialization. It mainly focuses on financial concepts like capital management, risk assessment, financial planning, and corporate finance. The outcome of the course provides skills that are necessary to work for high-level and reputed profiles in the financial sector.

What are the eligibility criteria for MBA Marketing VS MBA Finance?

In terms of eligibility requirements, the Marketing and Finance stream has similar requirements. Some of them are listed below:

• The educational qualification for MBA admissions is that the candidates must have finished their UG degree with a minimum of 50% marks and no backlogs.
• In the case of the finance stream, it is suggested that the students have some background in financial concepts before opting for financial specialization in MBA.
• To get selected for management institutes, applicants must have appeared in aptitude tests like CAT/ MAT/ XAT/ CMAT/ ATMA, etc.
• In the case of MBA in abroad, applicants must appear for GMAT/ GRE scores as well along with SOP and LOPs.

Comparison between MBA Marketing and MBA Finance:

The table shows a quick comparison based on different factors such as curriculum, skills, outcomes, career scope, etc.

Particulars	MBA in Finance	MBA in Marketing
Course duration	1-2 years	1-2 years
Level of program	Master’s degree	Master’s degree
Core focus	Investment analysis, corporate finance, financial management	Consumer behavior, digital marketing, sales strategies, branding
Core subjects	Corporate finance, financial analysis, risk management, investment banking,	Branding, market research, advertising, digital marketing
Career Opportunities	Portfolio Manager, Risk Manager, Financial Analyst, Investment Banker	Marketing Manager, Brand Manager, Sales Manager, Digital Marketing Strategist
Salary aspect	Can start with high salary	Moderate salary in the beginning
Best for	Individuals interested in numbers, data analysis, finance, investments, and managing corporate resources	It is for fresh and innovative thinkers who enjoy consumer engagement and branding.

Note: Candidates can choose their specialization after analyzing all the factors given above and their respective interests.

Course Structure and Subject in MBA Marketing and MBA Finance:

The core subjects in the Marketing and Finance streams are focused on making their respective curriculum stronger. Based on the type of MBA program, the duration of the course might vary. In the case of an executive, whether online or part-time, the range from 1 to 2 years. A regular MBA is for 2 years. Getting in-depth knowledge of all the core subjects concerned is very important for better outcomes. Knowing the types of subjects comprised in each specialization will help you make the right choice for your MBA degree.

Core Subjects in Marketing:  

Marketing Management	Operations Management
Forecasting, Modeling and Marketing Strategy	Metrics for Marketing Performance Evaluation
Sales Force Management	Consumer and Brand Insight Strategy
Marketing Channels Strategies and Decision Models	Sales and Distribution Management
Consumer Behavior	New Product Strategy, Branding and Marketing
International and Multinational Marketing	Digital and Social Media Marketing

 

Core Subjects in Finance:

Financial Modeling	Fixed Income Markets
Infrastructure and Project Finance	Investment Analysis and Portfolio Management
Money and Banking	Management Control System
Corporate Investment Management	Small Business and Corporate Finance
Structure Finance	Behavioral Finance
Trading Strategies	Financial Risk Management

Scope of MBA in Marketing and MBA in Finance:

Any graduate who has completed an MBA degree has a higher scope in building their career in the industry in various fields. However, the most commonly opted specializations range from marketing to Finance and HR management. Here, a detailed comparison is made between marketing and finance. This will help the candidates decide which are lucrative degrees. Often, there is demand for both graduates in most of the leading organizations across the globe.

Many job profiles have gained scope in recent times under both domains. After completing a PG degree, candidates need not just opt for job opportunities but can also explore options in higher studies. Also, those attaining Ph.D. degrees in marketing and finance can easily surround themselves with opportunities to carry out research in the field and, hence, enter academia.

Here are some of the different career prospects listed under Marketing and Finance. This will also aid the students in deciding on MBA Marketing vs MBA Finance:

MBA Marketing scope	MBA Finance Scope
Research Manager	Accounting Manager
Business Development Manager	Finance Officer
Social Media Manager	Financial Analyst
Account Manager	Investment Banker
SEO Manager	Finance Executive
Market Research Analyst	Financial Advisor
Brand Manager	Credit Manager

Salary comparison between MBA Marketing and Finance:  

Candidates opting for Marketing of Finance Specialization in MBA are provided with good job opportunities after the completion of the program. Also, they can expect lucrative salaries as well. Also, based on the work experience, salaries may vary. The table lists the salary packages that candidates can expect in their career journey.  

Years of Experience	Marketing
Average package	7 LPA
Less than a year	3 LPA
1-4 years	4 LPA
5-9 years	7.5 LPA
10-19 years	15 LPA
20 years and more	28 LPA

 

Years of Experience	Finance
Average package	7.5 LPA
Less than a year	3 LPA
1-4 years	4.5 LPA
5-9 years	7 LPA
10-19 years	13 LPA
20 years and more	30.5 LPA

Top MBA Colleges offering MBA Marketing and MBA Finance:

Marketing and finance are the two most commonly opted specializations under management studies. Some top MBA colleges offer quality education, which are listed below:

MBA Marketing:

• IIM Ahmedabad
• Manav Rachna University (MRU) Faridabad
• BM Group of Institutions (BMGI) Gurgaon
• Llyod School of Business (LBS) Greater Noida
• Indian School of Business (ISB) Hyderabad  

MBA Finance:

• Alliance University
• NMIMS Mumbai
• IIM Calcutta
• IIM Bangalore
• XLRI Jamshedpur
• New Delhi Institute of Management

Choosing Between Marketing and Finance; Factors to be considered:

1. Personal Interests and Strengths

• Choosing the discipline majorly depends on academic strength, personal interests and more.  
• Candidates can choose the Marketing discipline if they enjoy exploring their creativity, understanding customer behavior, storytelling, etc.
• If the candidates are more into numbers, data analysis, financial strategy, and risk management, they can opt for a Finance specialization, which may be a better fit for them.

2. Career Goals

• Based on the future career goals and scope, individuals will have to choose their specialization.
• In terms of Marketing, if candidates want to see themselves in job roles like brand management, advertising, or sales leadership, marketing can be a great choice. It can also be a great choice if they want to become entrepreneurs and market their products or services.  
• Candidates who are looking forward to working in sectors like corporate finance, investment banking, or financial consulting and who have long-term goals of becoming CFOs or leading financial divisions can opt for the finance subject in their MBA specialization.

3. Industry Demand

• As per recent trends, the demand for marketing and finance professionals is increasing equally in the industry.
• Currently, in the marketing industry, candidates should explore digital marketing and e-commerce more because now all businesses are creating their online presence and trying to expand globally.
• The finance sector, however, remains robust. Experienced professionals are needed to provide insights on corporate finance, banking, risk management, etc. When companies expand globally, their predations also become complex.  

4. Work Environment

• In the marketing stream, candidates work in more dynamic and creative environments. They focus on aspects like teamwork and client interaction and also travel frequently.
• The work environment for a Finance professional is more structured. They often have to deal with data, reports, and analysis. They usually have long working hours, especially on the days of important financial transactions.

How to Decide Between MBA Marketing and MBA Finance?

After analyzing all the above factors, one gets clarity on choosing between marketing and finance.  All the students who are still confused to decide between the two can ask some questions that will help in making the right decision: 

1.  What is the key area of interest?

2.  Which are the subjects in the educational background that has worked well in enhancing academic performance?

3.   Is there any previous work experience? If yes, which field of experience has been assigned?

4.    What is the ROI that is expected after earning an MBA Degree?