MBA in Finance vs MBA
in HR: Which one has a better scope?
Before getting
admission into MBA course, often a candidate comes across a choice to pick one
MBA specialisations that would serve as the foundation for his/her career
growth. There are several specialisations which being offered by the B-schools
in India and globally. However, the decision is yours to pick and choose one
MBA specialisations among many at the end of the day! Among all the top
specialisations that are high in demand, MBA in finance and MBA in HR are two
specialisations that are quite financially rewarding for the MBA aspirants.
Making a decision to choose one between the two requires great deal of time and
thought.
To help you streamline
this decision, we have prepared a list of various parameters basis which, you
can decide the best option for your career growth. There are institutes that
even offer dual specialisations but a candidate needs to choose one as a major
and another as a minor specialisation. In that case also, this article will
come to your rescue when filling the form at the B-school.
SUBJECTS of INTEREST
Whichever branch of MBA you
decide to pursue, it is essential that you identify with the subjects that are
offered in the program. If your favorite subject features in the program you
are more likely to ace in it.
INDIVIDUALITY
Are you a people person or are
you more comfortable solving mathematical problems?
It is no longer true that being
a people person is helpful only for a HR professional. Even in finance when it
comes to mergers and acquisitions, besides crunching numbers you need to be
able to sweet talk the opposite party in agreeing with you. Hence, whichever
field you choose, you should be ready to develop skills that are deficient.
AMBITION in LIFE
Is earning money is the end
goal of your life or do you also want to learn and impart knowledge? Many
people today are in high paying jobs, but job satisfaction is absent. Do not
get into myths that MBA in finance can offer you high paying jobs whereas MBA
in HR can’t. A highly skilled and developed professional irrespective of the
field he is in, will always draw head hunters to bid over him.
Skills
HR
1. People person
2. Communication skills
3. Listening skills
4. Negotiation
5. Discretion
6. Innovation
7. Easily approachable
8. Emotionally Strong
Finance
1. Analytical skills
2. Mathematical skills
3. Logical thinking
4. Problem solving
5. Time management
6. Market savvy
7. Technology savvy
Life of a Finance Professional
Similarly a finance
professional is not somebody who just crunches numbers in a cabin and is devoid
of human contact. Today a finance professional is also expected to interact
with clients, understand their needs and develop a good strategy to satisfy
them. They need to maximize profits and minimize risks. They are expected to
think about the big picture and not restrict themselves to their daily goals.
Life of an HR Professional
Contrary to popular belief, it
must be noted that the HR professionals do not have an easy job. They are no
longer restricted to doling out salaries at the beginning of every month.
Besides recruiting new staff, they need to ensure that orientation and training
programs for the new recruits are in place.
They need to be well versed
with all the job roles of the company's employees and should be able to
troubleshoot even in their sleep. Jokes aside, the function of a HR
professional has to be cohesive in nature. They deal with the foundations of
the company, the employees, everyday.
Hence it is essential that they
are patient, a good agony aunt and easily approachable
Conclusion
With the nature of the job
roles changing rapidly, it is evident that whichever MBA program you choose,
you have to be constantly upgrading and developing yourself.
It is also essential that you make
your decision and be at peace with it. In case of doubts, always talk to your
professors and professionals in the field who can enlighten you about the
practical realities of their profession.
