MBA in Human Resource or MBA in Finance: Which is the best career option?

by O.P. Jindal Global University Best Private University

Are you planning to pursue an MBA or think about which one you should opt for? For example, many students get confused between MBA in Human Resource or MBA in Finance?

No need to worry! Given below points will help you choose the best program for your career.

MBA is one of the prestigious courses to pursue in India. Thousands of students are planning to take admission into the MBA program. Many institutes and universities in India offer it. This course will help students develop the skills and knowledge to mark their foothold in this competitive age.

Whether to choose Finance or HR? On the one hand, a degree in MBA Finance will allow students to pursue a career dealing with the financial aspects, like risk management, valuation of funds and accounting. On the other hand, an MBA in HR is responsible for administering the organisation's most significant capital, i.e., human capital. This specialisation deals with recruitment, training and retention of the employees and human resources of an organisation.

Basis

MBA Finance

MBA HR

Full-Form

Masters of Business Administration in Financial Management

Masters of Business Administration in Human Resource Management

Duration

2 years (including internship)

Eligibility

UG degree

Domain of Study

Financial Valuation, Accounting, Investment Management.

Labour Laws, Principles and Policies of Human Resource, Compensation Management.

Entrance Exam

CAT, XAT, SNAP, MAT, NMAT and CMAT.

Average Salary

INR 7 - 20 LPA

INR 3 - 18 LPA

Who can opt for this?

Candidates have a preference in finance and analysis and investment management.

Candidates who prefer the management of maintenance of laws, human welfare, and policies should opt for this.

MBA is a 2-year post-graduate program recognized worldwide. However, this course allows students to gain critical thinking and analytical skills. It will also help students enhance their learning specialization in the MBA field. The students do a course in MBA for varied goals such as to develop skillsets and elevate their career graph. In contrast, some MBA aspirants want to gain better job opportunities after completing the course. The common reason to pursue an MBA is to gain specialized and cross-function knowledge in business.

Finance gives the knowledge in investment, acquisitions, accounting, and the financial management aspect of the business. In general, all studies about the various real-life examples and try to apply those through one analytical and critical thinking skill. Therefore, a degree in Finance can be one of the most high-paying jobs and bring opportunities in the banking and finance sector and consulting firms.

The main difference between an MBA in HR and Finance is the syllabus and subjects. List are mentioned below:

MBA Finance Subjects

● Portfolio Management

● International Trade and Finance

● Merchant Banking

● Strategic Management

● Accounting

● Corporate Financial Planning

MBA HR Subjects

● Labour Laws

● Training and Development

● Human Resource Planning

● Human Resource Information Systems

● Performance Management

● Cross Culture HR

An MBA is known for its best skills which will help students get the perfect job. For example, skills such as leadership, interpersonal communication, problem-solving, and analytical skills 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 accounting knowledge is crucial for a finance student. Some of the skills required for an MBA in HR and Finance are as follows.

MBA in Finance - Skills

● An understanding of Financial principles and accounting.

● One has to be a multi-tasker and calm to take in criticism.

● Quantitative and Analytical skills.

● Should have the ability to handle complex data and break it down into simpler fragments.

● Should have an eye for details.

MBA in HR - Skills

● Should adapt to react to change management in the organization.

● Negotiation Skills are paramount for HR managers.

● They need to be discrete and ethical in their approach.

● Negotiating and conflict management skills.

Hope the information furnished above help you differentiate between both finance & HR specializations and choose a better one for your MBA.