Undergraduates passionate about business and the economy have one of the most competitive educational paths. After all, businesses are the force that drives the economy. A degree in management or marketing sets you up for a lucrative career. It offers a lot of job possibilities, competitive salaries, and fringe benefits. If you cannot decide between the two, our in-depth analysis will explore the differences in opportunities, salaries, expertise, and curriculum. This way, you will make informed decisions. Let’s get right to it.
What is business management?
Business management is the coordination and administration of activities, resources, and tasks to achieve a goal. It involves supervision and staff training, designing infrastructure, and overseeing core operations. A business degree provides a broad understanding of business organizations. Not only this, but it also gives you specific knowledge in operations, communication, and finance. Other areas include business policy and strategy, customers, and information technology.
A business management degree focuses on the fundamentals. You get an associate, bachelor’s, master’s degree, or a doctorate in the field. Students also specialize in branches like finance, HR, and sales.
What academic research is done during studies?
Business courses are intensive. University professors administer tests and practical assignments, including an essay and a project. During the research, students will learn about various subjects. They are requested to complete an array of essays on specific topics until the end of each term. Also, each student has to conduct academic research during a semester. These assignments are time-consuming and they require a lot of knowledge. Some learners buy college essays online in order to receive qualified help from professional academic writers. Their experience is quite helpful when there is a need to follow strict guidelines and stick to sharp deadlines.
What are the positive and negative aspects?
Different professions require different skills and expertise. Studying business helps you expand your business skills. It equips you with the right knowledge to create business plans, negotiate, and analyze data. You can also make accounting decisions, measure employee satisfaction, and improve financial performance. Managing a business is beyond numbers. The course will prepare you to manage people and work with them to achieve results. You will grasp how to communicate and filter messages, effective governance techniques, and how to work with people to achieve a common goal.
Business governance allows you to be your own boss and create employment, thus contributing to the local economy. It also exposes you to networking opportunities and increases the prospects of partnerships and mentoring. A Master of Business Administration certificate holder is one of the most sought-after top positions. As a result, you enjoy increased credibility and salary.
The disadvantage of studying the course is that there is no guarantee. Although it enhances your chances of launching or joining a successful business, you can still fail. Nonetheless, training gives you the tool to take advantage of chances and deal with challenges.
What is marketing?
Marketing refers to the activities and processes for creating, communicating, delivering, and exchanging offerings of value to customers. The course teaches how to promote products and services to a target audience. To do this, you must understand how to find out what people want and customer segmentation. Communicate how a product will fill those needs, and guide them to take action. The degree combines theory and practice and shares similarities with business administration and advertising.
Most people confuse marketing and governance, but they are not the same. The former has a broader scope than the latter. It covers topics like administration, corporate leadership, accounting, and marketing.
What are the positive and negative aspects?
Marketing is broad, and you take in a lot within the landscape. For example, you work as a freelance marketing or digital marketer within a corporate environment. Marketing is a lucrative course that will open doors for various possibilities. The salary is competitive, and working conditions are flexible. You work with different brands and embark on trips within and outside your country.
Although marketing has many advantages, it is not without its drawbacks. Some of them include market competition and constant evolution. This is a competitive field that thrives on survival of the fittest. If you’re not ready for competition, you lose. The trends evolve, and constantly moving from one place to another is not the best bet if you desire a rooted job. It is worse if you have targets to meet. The quota is tied to your promotion, progress, and salary. As a result, you must constantly work and promote ideas even if all marketing campaigns are not successful.
Marketing vs business – which should I choose?
Marketing is about performance, as you can’t drive results without working for it. As a result, the role is best for someone who is creative and loves talking to people. It requires you to try ideas, test results, and implement changes. Management is great for problem-solvers who handle many types of personalities. It involves more interaction with others and data analysis. If you motivate others and lead by example, you are fit for the role.
Business governance roles include overseeing and leading a team to accomplish goals within the company. You motivate, identify deficiencies, and oversee specific aspects of the organization. Popular job titles include:
- Sales manager.
- Administrative officer, etc.
A career in marketing can also open doors to careers like:
- Advertising manager
- Market research analyst, etc.
Job growth rate and salaries
Management and marketing have promising future expansion rates. According to the Bureau of Labor Statistics, management positions will grow by 9% from 2020-2030, while marketing will grow by 10% during the same period. Both fields are also profitable. A manager makes an average of $79,500, while a marketer earns $76,000 annual salary.
Many management and marketing positions require a Bachelor’s degree to start. The common degrees you work towards are:
- Associate: It equips you with the basic expertise necessary for entry-level positions. The associate degree typically requires two years to complete and is a great starting point for those who desire a bachelor’s degree.
- Bachelor’s: a full-time undergraduate degree lasts four years and is a requirement for most marketing and management jobs.
- Master’s: a graduate degree takes two years and is reserved for individuals that want to qualify for managerial positions and gain specialized knowledge.
- Doctorate: people who pursue a Ph.D. spend 3 – 7 years. Unlike others, it is for those who want to become professors.
There is no one-size-fits-all answer for choosing the best option between the two disciplines. The reason is that both options launch you into a successful career. If you can’t decide between the two, management is the broader of the two and keeps your career options open. If you want to run a daily administrative role, try management. But if you are into creativity, marketing is more suited. Rest assured that there are plenty of possibilities for both degrees.