Finance Vs. Marketing, Which Is Better?

Finance Vs. Marketing, Which Is Better? (For Students)

Suppose you’ve finally decided that business is the career path you want to choose for yourself; there is still a long way to go.

With countless options available, you still need to figure out which niche you want to specialize in and get certified.

If you’re confused between choosing a career in finance or marketing, this article will answer many of your queries.

Finance Vs. Marketing, which is better? (For students)

Marketing is seen to be better than Finance because it pays more and is higher in demand.

Marketing is better for someone wanting a career in brand management, advertising sales etc. Whilst Finance is seen to better for those interested in banking, investment, accounts and other finance-related fields.

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College Interesting Stuff

Simply put, marketing takes an edge off finance due to a higher average pay scale in the US. In no way do finance analysts earn too little, but relatively, they fall behind their counterparts.

According to recent statistics by the US Bureau of Labor, marketing professionals make around $142,170 annually. On the other hand, finance analysts earn $83,660 on average per year.

However, please note that it varies across departments, designations, industries and roles.

It’s not all about money, though it is undoubtedly a significant component in determining your final decision, so let’s further discuss these two roles for a more balanced picture.

To better understand the differences between the two career choices, we will discuss them individually.

What Is Marketing?

Marketing includes the introduction of products or services to potential customers in a convincing way.

People use several channels to carry out marketing practices such as social media, email, public events, giveaways, and more.

These channels can be traditional as we are all digital, depending on the type of approach you want to pursue. In most cases, marketers use both for elevated outreach and a solid impact.

What Is Finance?

Contrarily, Finance deals with the understanding and management of money for a corporation or an individual.

Finance officers have the necessary skills to suggest solutions to investment issues, manage your debt, and provide valuable analysis of the current financial trends.

It is much similar to accounting but with more versatile applications.

There are three subtypes to finance; personal finance, public finance, and corporate finance.

 

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What Finance People Do Everyday?

Finance specialists are good with numbers and math, often possessing a strong solution-oriented mindset and analytical skills.

Hence, making them an ideal fit for the insurance and banking sector.

Corporations also hire financial analysts to get consultancy about investments or to manage their funds seamlessly.

If you’re good with number-crunching, a degree in finance is an excellent idea.

Among many other job descriptions, you can become a financial manager, investment banker, hedge fund caretaker, stock analyst, portfolio manager, wealth manager, credit risk manager, and more.

The job of a finance officer ranges across multiple skills where a deep understanding of the business takes priority over everything else.

They are also responsible for keeping themselves updated on the newest trends and laws that come out consistently.

From extracting valuable data from available financial tools to advising the company of the current money practices, suggesting investment routes to valuing a company based on its financial transactions, finance officers usually have their plate full.

Additionally, they must also have the necessary skill to document and present the data in front of gathering or government officials.

Finance professionals can land a job as controller, treasurer, credit/cash manager, risk manager, insurance manager, and more. So you have plenty of options if you choose to consider a career in finance.

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What Do Marketing People Do Everyday?

On the other hand, marketing professionals usually have an extroverted routine, often a day filled with meetings or discussions with potential clients and customers.

Since their job is to convince people to buy goods or hire services, they must have immaculate communication skills.

Marketers work with all kinds of agencies, brands, and organizations, accessorizing them with the knowledge of multiple niches and people who exist within them.

An individual with a marketing job has several defined duties that may include planning market trends, choosing the right marketing media, or discussing the logistics with the relevant people.

They also plan marketing gimmicks and promotional campaigns to connect with their audience.

During their pursuit of achieving a successful campaign, marketers also pay extra attention to which media platform they will use for their efforts. A good marketer will know how different platforms (traditional and digital) affect the company’s sales figures.

Marketers also sometimes negotiate contracts, deliver or renovate website designs, organize case studies, perform marketing experiments, hire other marketing staff, and much more.

However, it is important to note that a marketer is someone who oversees the ad development process.

For example, a marketer can come up with the idea for a social post that can bring more traffic to your profile.

So a graphics designer would be tasked with the process, where the marketer would monitor it and suggest changes.

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Is Finance Easier Than Marketing?

Finance is harder and more demanding than Marketing if you’re not a fan of mathematics, it may not come naturally to you. Of course, there’s number-crunching in marketing, too, but not to that extent. And comparatively, marketing degrees are a lesser strain on your mind.

Both career choices, however, aren’t for everyone. And since you must have specific skills to be good at your job, you’ll have to make a significant effort in college.

Don’t be intimidated, though, because you won’t have to deliver ideal results straight away. After joining a training program, you’ll build the confidence to feel comfortable at your work.

To get a clearer picture, you can imagine marketing as an intuitively learned subject where the learning process includes a versatile approach and personal creativity.

On the other hand, finance has a rough and tough set of rules that have little to no flexibility.

If you’re interested, you can always double major in finance and marketing to accessorize your resume with remarkable entries.

 

Final Thoughts

Because marketing pays more and is in higher demand, it is thought to be superior to finance. If you want to work in brand management, advertising, or sales, marketing is the way to go. Finance, on the other hand, is thought to be better for people interested in banking, investment, accounting, and other finance-related industries.

All in all, it goes without saying that the subject you’ll find easier between the two is the one you have a personal inclination towards.

Some people may find marketing creativity to be their superpower, and others might find finance appealing.

So carefully think about your skills and critically acknowledge them before making your final decision.

We hope this article helped you choose between the two lucrative career choices.

We wish you all the best!

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References

  • https://www.bls.gov/ooh/management/advertising-promotions-and-marketing-managers.htm#tab-2
  • https://www.bls.gov/ooh/management/financial-managers.htm