The world around us is undergoing massive changes, and every area or sphere of life is witnessing some change. It is essentially progress towards a better tomorrow. The shift we are referring to gets attributed to two factors. One of them is due to the advancement in technology, simplifying lives and automating almost every function. The other reason for the change refers to a stalemate, typically due to the coronavirus pandemic.
In the field of education, too, we see numerous opportunities emerging amidst the wave of change. One significant change has been in the format and medium of receiving instruction. Previously, online education was restricted, and one wouldn’t necessarily prefer it over a conventional classroom. But now, it is a matter of choice.
Looking at the role of tech in education has again helped the entirety of the system evolve. Be it resources of research, education methods, induction of new courses, or the increasing use of devices, changes are evident. In terms of the courses, understandably, some programs surpass the others.
In this regard, an MBA program remains pivotal, allowing the students to excel in their academic and professional lives. With education, an individual can understand the core of a business and enter leadership roles. But which of the two major programs should one choose; finance or marketing?
Both the areas have their pros and cons. But if you have some inclination towards finance, then it is the field to consider. It is primarily due to the programs with a concentration in accounting. Enrolling in the program enables you to pursue opportunities in investment and managing accounts, to name a few. Simply put, an MBA with accounting concentration online provides the pathway for the future.
The question that emerges is about the scope of an MBA in marketing. Let’s review and compare both the programs further to reach a logical conclusion.
1. What Does Each Field Offer?
Before an individual makes the crucial decision of which plan to proceed with, they will need to know the difference. The primary difference is of interest and where it lies. Do you find your interest in computing or managing the investments of an organization? Or, do you find interest in the management of your budget or assets? In all such scenarios, accounting should be the priority.
However, do you find yourself intuitively attracted to brand management? Is it an interesting aspect of how a company comes up with a creative catch-line for their brand? Do you wish to be part of a marketing organization? In such a case, you may opt for an MBA marketing program.
2. Differences In The Skill-set:
All of us possess the skills to pursue just about any academic program in the world. But as time passes, we feel that we are truly better at some of them than others. That’s when we should make a decision. Regarding the two programs we are discussing, we will need to analyze the required set of skills.
To be a student of finance or account, you have to be exceptionally good with numbers. If you do calculations quickly and love mathematical derivations, you sure have a taste for numbers. It is also necessary for a student in this field to have a quick and problem-solving mind.
If you get often hit with creative ideas, you are more inclined towards content and design development than marketing. Remember that it is also essential to be a good communicator and possess the persuasive skill to excel in this field.
3. Potential Opportunities:
We choose educational programs based on our interests and inclination, but the job aspect is always persistent. In other words, it is imperative to know what scope a field has before we proceed with it. Inarguably, there are ample opportunities in both the areas that we are discussing.
As a finance or accounting expert, you can be working with an organization, managing the accounts. Alternatively, you can have a prominent role in the stock market or as an investment consultant.
Those who see a future in marketing can be thriving in a marketing role in the future. You can serve any business or organization as a digital marketer, promoting their brand to the fullest.
4. Courses and Curriculum:
We all have a natural interest in the field we choose to study based on our preferences. But the courses also have a significant role in keeping that interest intact and persistent. Let’s have a look at what the two courses offer. As a finance student, you’ll be studying investment or hedge funds. You would also have a good grasp of the concepts of risk management and stock and financial markets.
The marketing course is also equally fascinating. In this digital age, you will know about the ways to create compelling online content. You will also find out about brand research and study customer relationships and how to maintain them.
5. Future Remunerations:
Who can deny the role of pay concerning any professional field? It is one of the most significant incentives for anyone making a crucial academic decision. But remember that the salary one draws based on individual skills, qualifications, and the organization.
A chief financial officer may earn no less than $181,210 in a year. Then, there are benefits to attract and retain top talent. A marketing professional also does make good pay. Marketing directors may earn $121,000 annually, in addition to other job benefits and perks.
A master’s in business administration has and would always be the top priority for students. It offers diverse areas of growth, opportunity, and career development. All you have to do is identify your interest and then opt for the best institution’s best program.
But it is a must to know where your interest lies among the two programs discussed. Lastly, whichever decision you make, consider an online program as it would provide safety during the epidemic. So, let’s make that academic decision wisely.