MBA Finance vs MBA HR: What to Choose?

MBA Finance vs MBA HR: Choosing an MBA specialization, especially between two highly lucrative ones like MBA in Finance and MBA in HR, is one of the toughest decisions for aspirants. The right MBA specialization can help an individual get a kickstart in their career upon graduation and avail opportunities best suited for them. However, if students end up choosing a specialization that does not suit them, they will end up drastically affecting their career path. Whereas an MBA in Finance is ideal for students who have a strong mathematical background, an MBA in HR is well-suited for individuals with strong interpersonal and organizational skills.

A Master of Business Administration is one of the most sought-after degrees in the field of management, but candidates often find themselves in a dilemma when choosing a specialization. Planning ahead in these situations can help students avoid last-minute hassles and making hasty decisions during their MBA course. Both MBA in Finance and MBA in HR are highly coveted MBA specializations and candidates who choose either one will have a prosperous career. However, the fundamental features of both of these specializations make them ideal for different categories of students. This article is going to shed some light on how to choose the perfect specialization for you, to make the most of your MBA.

MBA Finance vs MBA HR - What to Choose?

Students who pursue either an MBA in Finance or an MBA in HR have excellent career opportunities as well as the chance to advance in their chosen fields. However, the decision is for the candidates to choose one MBA specialization among the two at the end of the day! This decision is influenced by several factors which include,

• Personal Interests
• Strengths and Weaknesses
• Career Goals
• Both Present and Future Prospects

Considering all these factors and more, candidates have to find out which one of the two specializations will help them grow and prosper in their careers. 

An MBA in Finance will focus on aspects like Valuation, Financial Modelling, Financial Analysis, Budgeting, Investment Analysis, and Business Economics. Students who wish to build a career in these areas and work primarily in the Financial side of an organization should choose an MBA in Finance specialization.

An MBA in HR is an ideal choice for students who are more inclined toward the management of people and employees of an organization. Human Resources is a discipline that educates students on topics such as employment relations, labour laws, human capital calculation, and operational management. Thus, if students are interested in handling the human resource component of an organization, and if they think they have the required skill set to manage people effectively, an MBA in HR is an attractive option for them.

Both MBA in Finance and MBA in HR are highly demanded qualifications in this day and age, and always have been since long before the emergence of newer MBA specializations. However, candidates must choose a specialization carefully, considering the factors mentioned, to make the most out of their MBA course.

MBA Finance vs MBA HR - How to Choose?

MBA being a professional degree, allows students to get hold of practical knowledge in the discipline of management. Thus the biggest determinant of choosing the specialization for an MBA is the line of profession you intend to get into. 

There are certain questions that you can ask in order to better analyze the situation to pick up the right fit for you. Firstly, you need to ask yourself what you are good at. Every student and every working professional has a certain domain in which he is good. This is the first factor in choosing the specialization. If numbers and analytical skills are your things, you should be inclined more toward MBA in Finance. If interpersonal and communication skills are your strong suit then HR would be a better fit for you.

Secondly, you should ask yourself what your career aspirations are. If you want to work in the banking and financial industry, your choice becomes obvious and if you want to work in organizations managing personnel then HR would be your thing. 

Skills Required for MBA Finance vs MBA HR 

Different disciplines require different skills in order to succeed and flourish in a particular field. For example, to succeed in the field of finance, students need to be well-adapted to analyzing numbers, going over financial statements, and making critical decisions on the basis of data analysis. Thus strong numerical skills and an analytical mind are what are required to shine in the field of finance. Whereas succeeding in the field of HR requires much more interpersonal and soft skills. The job role in the HR department mostly deals with human interaction. Thus strong communication skills, and adaptability. Also, the ability to work in teams is a must for people wanting to make a career in the field of HR. 

Scope of MBA Finance vs MBA HR 

Most organizations in today's business world have all the departments in-house and thus have students across all disciplines. So the idea that jobs in any sector are limited stands redundant now. Getting an HR MBA can land you a job in a Finance company. On the other hand, getting a finance degree might land you a job in a typical HR company. So what is the difference? The difference lies in the number of jobs available in each sector varies according to specialization. Getting a Finance MBA helps in getting jobs in Banking, Mutual Funds, Investment banks, Insurance, and Stock Market Brokerages. HR managers are hired across all companies but especially in HR consultancy firms. 

MBA Finance vs MBA HR- Curriculum 

As the name suggests, MBA Finance deals with main subjects in the financial domain like Taxation, Finance, Securities and Derivatives, Accountancy, and Economics. The subjects in the second year diversify to Risk Management, Portfolio Management, and Security Markets. Thus the course helps in forming an overview and intricate knowledge of the Financial world. 

The HR Curriculum includes subjects like Labour laws, Behavioural Psychology, contemporary operation management, business communication, and managerial economics. Thus taking up HR would help in gaining knowledge regarding personnel management, and appropriate motivational techniques. At the same time how to achieve all that in the most cost-effective way.

MBA Finance vs MBA HR - Job Profiles 

The job profiles differ according to specialization. The job profiles are not uniformly provided but instead depend on a lot of factors. The job profile offered would be made on the basis of prior work experience, individual skills, and knowledge, and the soft skills quotient would also matter. Thus, the most commonly offered job have been listed below:

Salary Expectations after MBA HR and MBA Finance

The salary offered after getting your MBA degree depends on a number of factors. It firstly depends on the ranking of the college, highly reputed colleges will invite more companies to come to the placement drives and higher packages will be offered to students. The next important thing that recruiters look for is prior relevant experience. Having prior relevant work experience helps in getting a better offer. As the companies are assured that such people would be more easily adaptable to the work that they are assigned. The next important thing would be the skills and knowledge of the students. The easiest way to demonstrate the skills would be to acquire certifications and complete courses in order to be a better fit for the companies. The below table demonstrates the average salary of the students taking up the courses. 

Note: The average package may vary according to the work experience and skills and knowledge of the students. The figures provided are just reflective of average trends. 

MBA Finance and MBA HR Colleges 

The most important question that comes into mind after understanding the course, curriculum, and future prospects, is which college should you join to avail the most value.  There are a lot of colleges both private and government across India where you can go for an MBA depending upon your affordability, academic record, distance from home, and any other such factor that would influence your decision-making process. 

MBA Finance vs MBA HR: Detailed Comparison

Candidates can find the comparison of MBA Finance vs MBA HR in the tabular format below.

We expect this article to help you in making the right choice between the two specializations, if you want to go for admissions, you should fill out the Common Application Form. If you have any queries related to college choices, you can also call our toll-free number 1800-572-9877.