'Marketing MBA better than finance MBA'

Some vouched for marketing, some for finance, some sat on the fence, others had off-beat perspectives to offer.

Here are some examples:

I believe marketing is important and more critical than finance in any business activity. Even the success of financial services (like banking and insurance) and products like loans and credit cards are dependent on how well they are marketed as there is not much difference in the interest rates and charges.

We can see how certain new generation banks like ICICI have succeeded in their marketing programmes. Though one cannot undermine the importance of finance, it is marketing that is essential for the success of any business enterprise.

As for job opportunities, the initial jobs are almost equally good in both streams. As one gets more experience, senior positions in finance generally demand additional professional qualifications like CA, CS, ICWAI and CFA. In the case of marketing, experience and results matter -- not additional qualifications.

-- K Srinivas, BITS Pilani, 1995

• The book all B-school students must read

The big debate is not which one is better; it should be: what is the aptitude of the candidate? People who have an eye for detail and are research-oriented can go for a finance MBA, while those who have excellent communication skills and have an outgoing personality should opt for marketing.

The best choice according to me is neither finance nor marketing -- it should HR!

With an increased focus on people issues, HR guys have everything going for them. It is a fact that entry level jobs in HR are pathetic but, after two or three years in the profession, one will find enough opportunities. There is an ever increasing demand for experienced HR professionals.

In fact, in the long run, they have much higher compensation levels/ better positions in management as compared to either marketing or finance.

What are the qualities one should have to make it big in HR? One would obviously need patience and perseverance. Someone who is passionate about resolving people issues will be the right candidate for pursuing a career in HR.

-- Raghav Rao, chief editor, HRudaya (montly e-zine by HRinIndia)

• Top HR mantras to make your job work for you

I think a holistic business perspective comes from exposure to all areas -- finance, marketing, operations, strategy, etc.

I guess this is why learning is so comprehensive in those business schools where there is no rigid classification of subject areas into 'majors' and 'minors'. I think a B-school participant should get a chance to pick and choose subjects from different areas (finance, marketing, etc) and get an ideal mix for himself/ herself.

As they say, the big picture matters the most. The added advantage of having a balanced mix of electives is that one has the option to evaluate and choose from a diverse range of career options (say from FMCG sales to I-Banking).

One last thing -- I think this debate should also include systems as an option -- it should be finance vs marketing vs systems. Now, that would really motivate the systems guys to pour in their thoughts.

-- Anupam, IIM Indore, class of 2005. Currently assistant manager, CRM & Analystics, Mahindra British Telecom

• A career vs quick money -- which is better?

The question is not 'which is better', but 'which is more popular'. The reason behind this is that the relative value of each MBA changes according to the type of market and its condition.

Is finance better than marketing? The answer is yes and no, as finance seems a better option in today's situation where the stock market is optimistic.

Finance people -- the bean counters, as they are called -- are viewed as pessimists. They will always tell you why the company should NOT go for the proposed plans. On the other hand, the marketing people -- the optimists -- will have no doubts about the success of these plans.

Hence, it's not strange that we always see F and M people coming out of meetings fighting with each other. But the moment one doubts (as F people do) a well-planned step (which F people have), one is out of the market.

To drive home my point, in many a monopolistic and cost-driven market, the sharpest tool is finance. However, one should not forget every effort is being made all over the world to have competitive markets by restructuring these monopolistic markets (the electricity market in India, for example). So the name of the game is marketing rather than finance.

Every wannabe manager should keep in mind that an MBA in finance gives you the tools to analyse and expand your market, but not the marketing skills and tactics necessary for increasing your output.

Are you listening guys? The 'mind game' is going to stay, not 'mind calculation'.

-- Niraj Kumar, MBA -- Power Management. Currently with NPTI.

• The truth about MBA cats and dogs

I don't think there is a need to have a debate on which specialisation is the best. Why forgot they both are part of management and hold different functions and styles without which nothing will work?

As for the clearer picture, one also needs to consider the thumb rule while getting a job -- what your ambitions are and what you have to do when choosing a specialisation.

The MBA you choose should also depend on your personal ability. If you are good at number-crunching, have a flair for juggling numbers and think you can manage the party well, then finance is the job for you. If you are creative and have a zeal to sell, then there's no doubt you should be in marketing. So you have to really assess yourself before you decide on your specialisation.

As far as the pay packet is concerned, it all really depends on whom you work for. If you are working for an Indian firm, chances are you would earn a little less than your counterpart at an MNC. But, again, that depends on the size of the company and your designation.

-- Deepak Patel, BBA, final year, Vivekanand Institute of Mgt Studies & Science, Aurangabad

• Doing an MBA? Choose your institute well

What's your take? Is a finance MBA better than a marketing MBA? Or will any kind of MBA do? Do let us know.

Don't forget to add your age, educational qualification, the institute/university where you studied, what you are doing at present and your contact number.

MBA in Services

The financial services sector is undergoing profound and rapid change. Organizations require professionals who understand the dynamics of the industry, and the broad direction and implications of the forces of change. Such professionals must have a strong foundation in skills that will be relevant to a critically important and fast-changing industry. These skills include areas such as marketing, strategy, real property development and organizational behavior/industrial relations. They also include finance and financial engineering skills, which are particularly relevant to manage risk in the sector. The program is designed to compliment these skills by providing students with an appreciation of how this important industry sector is changing, and the implications of this change for the application of these skills. The program adds value to students who wish to work in the financial services industry.

The program stresses relevance as well as rigor. To this end, it is committed to developing relationships with firms and senior executives in the financial sector that can provide 'real-world' perspectives on current issues.

MBA in Media

This one-of–a kind MBA is geared to professionals already working in media. It was specifically designed to provide graduates with the foundation, skills, and competencies required to both understand and function within the complex legal, ethical, economic, and social dimensions of media management. Admission to this program requires entering students to have prior media, art or media related business expertise. Students come from a wide array of backgrounds in communication arts; radio; television; film; music; fine arts; gallery and arts administration; museum administration; law; education; business management; marketing; public relations; creative writing; journalism; multimedia; publishing; e-commerce; theatre; dance; and opera. Each semester combines academic study with actual managerial experience. In the first semester, students focus their efforts on creating a comprehensive business plan for a media-related venture designed to satisfy a need, realize an opportunity, or address a challenge within a given media industry. In the second semester, students implement aspects of their business plans and in the third semester they develop and implement a marketing plan to promote their respective media ventures Schulich offers Canada’s only MBA with a specialization in arts and media administration. The specialization is suitable for students who have either work experience in the cultural sector or an undergraduate education in areas of the arts such as music, theatre, dance or the visual arts, or areas of the cultural media such as film studies or literary studies. Schulich graduates from the arts and media administration specialization fill such positions as: general manager and marketing and development directors of major performing and visual arts organizations; cultural policy analysts at all levels of government; owners of entrepreneurial endeavors in the cultural sector; and business managers in the film industry.

MBA in Telecommunications

Technical convergence changes everything. An MBA in this particular field equips students with a global vision of the business convergence process currently taking place and poised to form one of the major industries of the 21st century. A full time program from Instituto de Empresa Business School organized in collaboration with Accenture, international leading partner, is oriented to innovative professionals of any background who want to plan a career path in the digital economy, either as a key player in a leading multinational or as an entrepreneur.

Telecommunications have made huge leaps forward in the past two decades. It is one of the fastest growing industries in the world. The emphasis is on the value added services, such as e-mail, cellular phones, WAP etc in developed countries and in improving basic telephone availability in the developing countries. This sector plays a key role in encouraging growth in the industrial and services sector.

MBA in Information Technology

Students interested in careers in management consultancy, software or database development, enterprise management systems, telecommunication and business analysis must opt for the specialization and will be recognized as having a thorough IT background. IT graduates play essential roles on the business team, typically designing and implementing hardware and software solutions to business problems. They hold professional positions in areas such as client/server or web applications development, systems analysis and network administration. They constitute the important workforce as technical and management professionals in a variety of industries. Students obtaining such a certificate usually acquire positions in the top management consulting firms or as strategic analysts in the transportation, telecommunications, and financial sector.

Graduates are expected to possess the appropriate knowledge, experience and skills to adapt to change in this dynamic field through a lifelong learning process. They are prepared to help shape twenty-first century organizations in a rapidly changing, globally competitive, technologically sophisticated environment. The program is designed to develop a diverse and integrated group of experts armed with the necessary skills for building new entrepreneurial ventures.

MBA in Consultancy

Most consultancy firms see a top MBA as a fundamental management entry-level qualification. Without an MBA, it is almost impossible to become a senior consultant in a top-consulting firm. The MBA seems to have moved from a 'nice to have' to a 'need to have' qualification for those set on an international management consultancy career. According to the Survey, top consultancies are predicting average base salaries for new MBA hires of US $94,000, while one North American firm has reported making offers of as much as US $117,500. Average salaries for MBAs graduating from US schools are on the whole only very slightly higher than those from European schools. 2006 is revealing consulting job listings running well ahead of 2005, and has seen increased hiring from all the major strategy consulting firms as well as the systems integrators like Accenture, IBM and Cap Gemini. Accenture customarily hires between 10,000 and 17,000 people, globally, each year.

MBA in Health (Pharmaceuticals)

Now worth well in excess of $500 billion per annum, the pharmaceuticals industry is a key player in the worldwide economy as more and more MBA s are opting for this trendy field. The industry’s largest market remains North America, which accounts for nearly half of all pharmaceutical sales, with Europe taking second place at around 30% of total worth. However, this may be all set to change over the next decade. While growth in North America hovers at around 8%, both Latin America and Asia are forging ahead with growth figures well into double digits.

Johnson & Johnson is alone expecting to hire as many as 300 full-time and 150 intern MBAs in the 2006-07 season. As is the case in many key industries, MBAs tend to be recruited by the pharmaceutical sector, as much for their potential as for any specific previous experience, although academic training in the sciences or a background in such areas as sales or marketing can sometimes prove to your advantage.