MBA Finance vs MBA HR - Which is Better?

A Master of Business Administration (MBA) is one of the most respected management programs in India nowadays. Although the curriculum provides exciting career growth chances in the corporate world, selecting the appropriate MBA concentration might be difficult.

MBA in Human Resources (HR) and MBA in Finance are two major professional paths in management. A degree in MBA people Resources prepares students to manage an organization's most valuable asset, its people capital. A degree in MBA Finance, on the other hand, will enable students to pursue a career that involves the financial components of a firm, such as risk management, fund valuation, and accounting.

Let's dive into the major differences between MBA Finance vs MBA HR.

MBA Finance vs MBA HR Key Highlights

An organisation consists of various departments having varied functions and principles. Two such departments are of paramount importance to any organization, the human resource department and the finance department, which are responsible for managing and administering the workforce and the funds of an organization. However, there are a set of different scope and opportunities for the two catering to their own requirements -

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MBA Finance vs MBA HR Overview

MBA or Master’s in Business Administration is a 2-year post-graduate program recognised by people all across the world. This course allows students to gain analytical and critical thinking skills along with a curriculum to enhance their learning and gain specialization in a field. The aspirants do a course in MBA Finance for varied goals- some come to develop skillsets and grow the career graph, some come to re-direct their field of specialization while some come to gain better job opportunities post completion of the course.

Human Resouce specialisation is among the most significant specializations one can opt for. People often misinterpret this specialization as easy and for less skilled people. But that is just not the case. An MBA in Human Resource (HR) will allow you to learn and understand the issues and policies of ethics in the business environment along with that one can gain specialised knowledge in people management and become an effective recruiter.

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MBA Finance vs MBA HR Subjects & Syllabus

One of the key differences between an MBA in Finance and HR is the poles apart syllabus and subjects offered during the 2-year curriculum of an MBA. Even though the 1st year of learning is all about core learning of the business principles and its fundamentals.

One gets a basic knowledge about all the subjects like Finance, HR, Marketing and Operations. However, in the 2nd year of an MBA, one can choose a specialization of their choice based on goals and interests. Below is a list of MBA in HR and Finance syllabus and key subjects:

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MBA Finance vs MBA HR Skills

An MBA is known for their specialised skills and learnings. Skills such as leadership, interpersonal communication, problem-solving and analytical skills are some of those which are paramount for a person opting for a career in management.

However, a person opting for HR may or may not have an inclination for Accounting but for a finance student, knowledge of accounting is crucial. Some of the skills required for an MBA in HR and Finance are:

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MBA Finance vs MBA HR Benefits Of Pursuing

Both MBA in Finance and HR provide students with exemplary career opportunities and a chance for growth and development in their career paths. However, there are a few unique benefits of the two courses which a student may achieve by opting for them:

MBA Finance Benefits

A career in Finance has been all bout planning, forecasting, procuring, allocating and analysing the resource and funds of an organisation at every stage of activity. A student pursuing a career in finance has the privilege to develop and expand his/her professional network as one is surrounded by top management at all times. One also has the opportunity to understand the financial world in a much raw and unified approach. A few of the benefits are stated below:

• A Finance professional in their daily life has to deal with cases of financial and investment risk, which enhances the analytical and critical thinking skills.
• This area of business is exposed to global financial markets and one has the opportunity for further growth and development.
• A person gains specialised knowledge in numerous areas of finance such as investment, valuation and accounting.

MBA HR Benefits

An Hr professional is considered to be among the most responsible and quick-witted people in an organization. They have to deal with the employees as well as the board of directors,  coming from all departments and culture on a daily basis. A calm and composed mindset is essential for a successful HR professional. Some of the benefits of a career in HR are given below:

• Being an HR professional becomes significant towards the success of organizations, which increase the stability of the job.
• As an HR of an organization, one has to have a deep knowledge of the trends and changes in the industry, leading to a greater understanding of the industry and personal growth.
• An HR prepares and guides the employee for future development. This brings out the leadership qualities of an HR professional.

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MBA Finance vs MBA HR Scope & Opportunities

 With the increase in the economic development of the economies all around the world. There has been a rapid increase in the demand for employment which leads to an increase in demand for a better HR professional to pick the cream candidates and manage them effectively.

With this rise also comes the surge in risk financing planning of an organisation. This is where the organisations require finance managers to forecast and plan the resources.  Well, this puts that opportunity for finance and HR managers will always be wide open.

Some of the top recruiters of these two professionals are Deloitte, Wipro, TCS and the list is never-ending. Below are some of the opportunities an HR and finance manager can look for:

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MBA Finance vs MBA HR Salary

MBA being an expensive course, people often are concerned about the compensation plans and salaries one would receive after the course. Although, after completing an MBA a person is likely to get satisfactory compensation. However, we have listed average salaries for some of the roles offered to MBA graduates in Finance and HR:

MBA Finance Salary

MBA HR Salary

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MBA Finance vs MBA HR Top Colleges

Finance is that part of the organization that is responsible for procurement and allocation of resources and funds in the organization. Whereas, HR professionals are the force that manages the largest capital of any organization, i.e, the Human Capital. It is paramount for any organization to have the best HR professionals to recruit, train and retain the best talent in the industry.

In order to inculcate the skills and knowledge to become an expert and attain oneself adequate knowledge about theory and practice, one requires a university or institute to impart world-class education and facilities. Some of the top B-schools are:

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Conclusion

MBA is a course that is renowned for its excellence and experiential learning and development to its students. The course is structured to make its students ‘corporate ready’ through its rigorous classroom learning and practical approach based education through case studies. Some of the reasons to choose MBA Finance and HR are:

It all comes down to the aspirants planning to make a career in the field of management. One has to understand and analyse their interests and goals before opting for a specialisation. Factors like career plans and accessible opportunities should be considered before making a decision. We have tried to capture some of the important aspects of finance and HR specialisation. Till then Happy Learning!