Are you interested in pursuing an MBA degree but stuck between which specialization to choose? Choosing the right MBA specialization is quite crucial as it helps determine your career trajectory. There are several sought-after options and most people are confused between MBA Finance vs MBA HR. If you’re interested in crunching numbers and analyzing market trends, MBA Finance might be the right fit for you.
But if acquiring top industry talent and improving workplace culture is your appeal, pursuing an MBA in HR can largely help your career growth. In this blog, we guide you on both courses to help you make an informed choice for your career path.
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MBA Finance Course Overview
MBA in Finance is a two-year postgraduate course divided into four semesters. You need to have a Bachelor's degree in Finance or a related discipline to be eligible for admission. Most colleges have an entrance exam for admission. The course curriculum includes the following subjects:
Semester 1
- Management Concepts and Organizational Behavior
- Managerial Economics
- Research Methodology
- Accounting for Managers
Semester 2
- Financial Management
- Marketing Management
- Human Resource Management
- Strategic Management
Semester 3
- Strategic Financial Management
- Project Management
- Management Accounting
- Banking and Indian Financial System
Semester 4
- Investment and Portfolio Management
- Global Financial Management
- International Trade and Finance
- Project Work
MBA in Finance Scope
For graduates with an MBA in Finance, job roles are plenty, some of which are defined below:
1. Financial Manager: Their job responsibilities include financial analysis, financial reporting, and business planning, among others. The average salary of a Financial Manager in India is around Rs 9 lakhs - Rs 22.2 lakhs per annum.
2. Accountant: An Accountant is responsible for preparing accounts, handling tax returns, financial forecasting, and preparing budgets. The average salary of an Accountant in India is around Rs 2.1 lakhs - Rs 3.7 lakhs per annum.
3. Investment Banker: As an Investment Banker, you would be required to advise companies for mergers and acquisitions, and to secure funds. The average salary of an Investment Banker in India is around Rs 5 lakhs - Rs 18.5 lakhs per annum.
4. Chief Financial Officer (CFO): A CFO is responsible for tracking cash flows, financial planning, and reporting. The average salary of a Chief Financial Officer in India is around Rs 15 lakhs - Rs 52 lakhs per annum.
MBA HR Course Overview
An MBA in HR is also a two-year postgraduate course with four semesters. The eligibility requirements are the same as an MBA in Finance. The course curriculum covers the following.
Note: The first and second-semester subjects are the same as MBA in Finance.
Semester 3
- Human Resource Development
- Performance Management
- Knowledge Management
- Employee Legislation
Semester 4
- Organizational Development and Change
- Human Resource Accounting
- Compensation Management
- Project Work
MBA HR Job Opportunities
The career scope of an MBA in HR for graduates is rather rewarding. Some of the below-mentioned job roles become available for eligible candidates:
1. Human Resource Manager: An HR Manager is responsible for creating job descriptions, performance management, conflict resolution, and recruitment. The average salary of an HR Manager in India is around Rs 5 lakhs - Rs 13.1 lakhs per annum.
2. Recruitment Coordinator: A Recruitment Coordinator is responsible for managing the hiring process such as posting job openings, screening candidates, scheduling interviews, and handling paperwork. The average salary of a Recruitment Coordinator in India is around Rs 3 lakhs - Rs 6 lakhs per annum.
3. HR Specialist: The HR Specialist is responsible for assisting employees in understanding company policies and managing employee engagement events. The average salary of an HR Specialist in India is around Rs 5 lakhs - Rs 10 lakhs per annum.
4. Employee Relations Manager: They are responsible for overseeing employee relations, employee training, and handling company policy. The average salary of an Employee Relations Manager in India is around Rs 4 lakhs - Rs 12.4 lakhs per annum.
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Conclusion
The choice between an MBA in Finance and vs MBA in HR depends on your interests, skills, and aspirations. The key to selecting a specialization lies in your goals and strengths. There are lucrative job opportunities after both an MBA in HR and Finance, and you need to decide depending on your long-term vision for success.
Amity University Online is India’s first online university to be awarded UGC approval for its online degree courses. Its MBA degree is ranked by QS World University Rankings in Asia Pacific’s Top 10. The university also extends support in job search by providing resume-building services, internships, and placement assistance. Enrol in our online MBA courses and build a successful career ahead.
