Career in Finance VS Marketing

[yourplaceormine]

Hi all,
I'm currently an undergraduate pursuing a business degree at one of the local unis here. I would like some honest opinion about careers in the above mentioned fields.

I am considering a career in either one of these fields, and I am wondering how they weigh up against each other in terms of factors such as salary, work-life balance, and career progression.

The general consensus is that salaries in marketing cannot compare to those in finance. Is this true, or does it depend on the industry or the company that you are working in? I think most people are sold by the idea of the "sexy" job in finance that pays really well, but how many people that go into banking etc actually get those kind of salaries? Also, how difficult would it be to get a job in a foreign bank in Singapore? I am aware that local banks have more strict requirements. I do not have fantastic grades that will guarantee me a FO job in a bank here, and I was also wondering how finance jobs in MNCs (not banks) and the Big4 weigh up in comparison to jobs in the banking sector?

In terms of career progression, if I were to compare an individual that has a finance related job to another who has a marketing related job, what would their salaries and position be, given that they have both worked say maybe 7/8 years in their respective jobs?

Thanks!

Hi, I graduated x year/s with Marketing degree from local uni, with good hons (quite recent). Hope I can help you clarify your concerns.

1) Salary - Firstly, be it Marketing or Finance degree, you still can apply for banks or FMCG (marketing) companies. A good honours would be beneficial, as most of the popular companies really have high number of applicants and tend to sort out good hons graduates. And it is really hard to secure those 'prestige' position for fresh graduates that offers high salary, i.e. Management associate, graduate programs etc, as it always have some sort of online tests/ assessment center etc.

I advise you to just do a quick google search to find management associate programs/ graduate programs, and you can see majority/ the 'good' companies all ask for at least 2nd upper hons. Without good hons, don't worry, still might have chance, but it will come down to having better internship experiences, CCA and stuff etc. But most likely, without good hons, don't expect pay to be high if you do not have other relevant skills. Given 2 fresh graduates, one with good hons, one without, as an employer, you will want someone who already proved that he/she can perform better than peers in similar environment. Of course this is only one of the indicators, but you will have a uphill battle.

All-in-all, salary really depends on the type of company you apply for. Big FMCG companies that are heavily marketing-dependent like P&G or Unilever will pay more for good graduates (be it Marketing or Finance degree). Banks, i.e. DBS, Citi, OCBC, HSBC also will pay more for good graduates (be it Marketing or Finance degree). In the end, all it matters down is that you have to be smart, good interpersonal skills, and good interview skills to secure these positions, as the system may first sorted out those with good hons, then those online tests/ interviews will really root out the no-so-good ones among the good hons grads. It is really competitive.

2) Work-life balance. Depends on your company, your department culture, and also your colleagues. Nothing more I can say about this. Every company have different 'working culture'. And of course, if you want high pay, don't expect 9-5. Those graduate programs will gauge your performance. At the end of 2 years, your new post will be determined by your performance. Hence, you need to know how to manage your own time, and if you can do it well, you will think it is good work-life balance.

3) Career progression. Regarding this, I am from Marketing so I cannot tell you about Finance. For marketing, there is like Brand manager, Product, Online, Digital (social media), Events, Public Relation, Marketing Communication, Market research/ analyst and stuff. Highest is CMO, but thats is really far away. Most companies would also seek for marketing graduates for Sales or Business Development position. Marketing career path is not just FMCG. Technology companies also have marketing position. The pay really varies HEAVILY with the company. 'Low-tier' companies will have less pay because marketing is not so important. But for 'High-tier' companies, marketing position can have high pay as marketing is important for the company to stand out among its competitors.

Next, it is really hard to compare Marketing salary vs Finance salary. If I had to say, Finance industry is where the big fishes are. If you can catch them, you will earn alot, but you need to work really hard. AND not just work, you need to learn alot. Otherwise there will be many things you don't know in the finance industry. Btw, have you even reserach how many % are actually earning really high in the finance industry? Finance industry is really really big and vast.

=== To conclude, I will only say take the course where your interest is. Or if you have a company you want to work in, then take the course which is more relevant and will get you into the company. Good result is important as it is a prove that you can work hard and perform better than peers in similar environment. But good internship experiences and CCA are important too as it shows initiative, leadership, communication skills and willingness to learn.

I know my advice may ended up not as an 'answer' advice that you are looking for. But once you graduated, it is really up to you on how you want to travel your path. And worst still, it does not mean that the job/ company you want to get in, you will surly get in. I can only tell you to start as early as possible to look for job once you are in your final year. Good luck in your studies!

[yourplaceormine]

Originally Posted by hotweather

Hi, I graduated x year/s with Marketing degree from local uni, with good hons (quite recent). Hope I can help you clarify your concerns.

1) Salary - Firstly, be it Marketing or Finance degree, you still can apply for banks or FMCG (marketing) companies. A good honours would be beneficial, as most of the popular companies really have high number of applicants and tend to sort out good hons graduates. And it is really hard to secure those 'prestige' position for fresh graduates that offers high salary, i.e. Management associate, graduate programs etc, as it always have some sort of online tests/ assessment center etc.

I advise you to just do a quick google search to find management associate programs/ graduate programs, and you can see majority/ the 'good' companies all ask for at least 2nd upper hons. Without good hons, don't worry, still might have chance, but it will come down to having better internship experiences, CCA and stuff etc. But most likely, without good hons, don't expect pay to be high if you do not have other relevant skills. Given 2 fresh graduates, one with good hons, one without, as an employer, you will want someone who already proved that he/she can perform better than peers in similar environment. Of course this is only one of the indicators, but you will have a uphill battle.

All-in-all, salary really depends on the type of company you apply for. Big FMCG companies that are heavily marketing-dependent like P&G or Unilever will pay more for good graduates (be it Marketing or Finance degree). Banks, i.e. DBS, Citi, OCBC, HSBC also will pay more for good graduates (be it Marketing or Finance degree). In the end, all it matters down is that you have to be smart, good interpersonal skills, and good interview skills to secure these positions, as the system may first sorted out those with good hons, then those online tests/ interviews will really root out the no-so-good ones among the good hons grads. It is really competitive.

2) Work-life balance. Depends on your company, your department culture, and also your colleagues. Nothing more I can say about this. Every company have different 'working culture'. And of course, if you want high pay, don't expect 9-5. Those graduate programs will gauge your performance. At the end of 2 years, your new post will be determined by your performance. Hence, you need to know how to manage your own time, and if you can do it well, you will think it is good work-life balance.

3) Career progression. Regarding this, I am from Marketing so I cannot tell you about Finance. For marketing, there is like Brand manager, Product, Online, Digital (social media), Events, Public Relation, Marketing Communication, Market research/ analyst and stuff. Highest is CMO, but thats is really far away. Most companies would also seek for marketing graduates for Sales or Business Development position. Marketing career path is not just FMCG. Technology companies also have marketing position. The pay really varies HEAVILY with the company. 'Low-tier' companies will have less pay because marketing is not so important. But for 'High-tier' companies, marketing position can have high pay as marketing is important for the company to stand out among its competitors.

Next, it is really hard to compare Marketing salary vs Finance salary. If I had to say, Finance industry is where the big fishes are. If you can catch them, you will earn alot, but you need to work really hard. AND not just work, you need to learn alot. Otherwise there will be many things you don't know in the finance industry. Btw, have you even reserach how many % are actually earning really high in the finance industry? Finance industry is really really big and vast.

=== To conclude, I will only say take the course where your interest is. Or if you have a company you want to work in, then take the course which is more relevant and will get you into the company. Good result is important as it is a prove that you can work hard and perform better than peers in similar environment. But good internship experiences and CCA are important too as it shows initiative, leadership, communication skills and willingness to learn.

I know my advice may ended up not as an 'answer' advice that you are looking for. But once you graduated, it is really up to you on how you want to travel your path. And worst still, it does not mean that the job/ company you want to get in, you will surly get in. I can only tell you to start as early as possible to look for job once you are in your final year. Good luck in your studies!

Firstly id like to thank you for typing out this post.
I actually have gone to look around for management associate programs, and im afraid that i may not be able to meet the minimum requirements in terms of grades. However i am trying my best to make up for it with ccas and internships and what not. I recognize that it will be an uphill battle, however i would also like to know if the min gpa or hons req is a non qualifying factor? Meaning that these companies will just disregard me if i dont hit the min req?
I guess i am not really inclined towards a particular field or a sector in the vastness of the financial world, however what i would like to know is whether someone in marketing could have the same earning power and career progression as someone in finance. Im not too sure about the statistics of top earners in finance, but i have heard many stories of inflated paychecks that i never ever hear of in marketing. I also use FMCG as to my understanding, its more or less the "holy grail" of marketing grads like how banking is for finance grads.

I know FMCG companies pay their employees well, but what are some other industries or companies that pay marketing graduates well? I am interested in brand management or strategy related jobs.

Thanks!

Originally Posted by yourplaceormine

Hi all,
I'm currently an undergraduate pursuing a business degree at one of the local unis here. I would like some honest opinion about careers in the above mentioned fields.

I am considering a career in either one of these fields, and I am wondering how they weigh up against each other in terms of factors such as salary, work-life balance, and career progression.

The general consensus is that salaries in marketing cannot compare to those in finance. Is this true, or does it depend on the industry or the company that you are working in? I think most people are sold by the idea of the "sexy" job in finance that pays really well, but how many people that go into banking etc actually get those kind of salaries? Also, how difficult would it be to get a job in a foreign bank in Singapore? I am aware that local banks have more strict requirements. I do not have fantastic grades that will guarantee me a FO job in a bank here, and I was also wondering how finance jobs in MNCs (not banks) and the Big4 weigh up in comparison to jobs in the banking sector?

In terms of career progression, if I were to compare an individual that has a finance related job to another who has a marketing related job, what would their salaries and position be, given that they have both worked say maybe 7/8 years in their respective jobs?

Thanks!

don't think the field matters that much anymore. be outstanding in your area; and success will come thereafter.

you're trying to seek reassurance/guarantees of success on which is a better field to 'try for', let me tell you there are none.

take a marketing specialization, flop, and you will end up in a SME drawing 2.4k running a one man show.

take a finance specialization, flop, and you'll end up as a contract BO ops analyst drawing 2.7k

who can tell you how many % succeed, and how many % fail? even if they do tell you, so what?

Honestly, if your grades are not good, then go for marketing. Finance is for those with top grades and from prestigious universities.

I agree with the previous post, whereby how successful or how much you can earn can only be say once you actually reach there (success). It does not mean you work hard or have more years of experience will equal to higher pay. It depends on your company whether it offers a good career path, depends on your network, luck too if you manage to secure a high paying position in other company before you jump ship. Hence, I really cannot say how high Marketing or Finance career can earn.

To address your other questions,
1) Good Hons is good to have. Some companies really will just filter out those without 2nd upper or above. While some other may consider those without good hons. In your final year, when you applying, companies will see your results and analyse whether you will be expecting at least 2nd upper or not. Even if no, they might also interview you first. Hence, don't worry, not all companies will just disregard if you don't hit the minimum requirement. But good hons is one of the factor to make you more 'recognisable' out of their large pile of resumes.

2) Earning power and career progression. I think the previous post mentioned this very well. Even if you have first class hons, if you cannot secure a good job, when you apply for 'low tier' companies your salary will be in the range of those basic degree without hons, because these companies can only offer that much and they don't have so many resumes so don't need to lessen it down to a few applicants, thus don't really look for good hons. And career progression largely depend on what you do when you starts working. Whether does the company offers a good career progression? Otherwise, after 1-3years of experiences, are you able to jump to a higher pay company? Thus, from another point of view, even without good grades, you can still earn a lot.

3) What industries pay graduates well? Be it marketing or finance degree, companies that are looking for good graduates, and have the financial capabilities, they would be willing to pay these graduates well. All kinds of industries do seek out for good graduates, even marketing. You can try searching for "Singapore’s 100 Leading Graduate Employers". Most of them pay graduates well. BUT, do remember these are also the popular companies everyone is applying for. So you really need to stand out. Like I mentioned, there are also online tests/ assessment center and stuff to really find those good graduates. Usually those that pay well will be a MNC, and have some graduate programs/ management associate programs.

== All in all, I understand that you want to make the right choice, and concern about the salary and career progression. But I will say don't just keep thinking or analysing what is the right choice. Take on a more active approach, like applying for case competition from those companies you are interested in, ask from your senior about the companies recruiting process, and learn to excel in it. Like I said, even if you are able to find the right choice and your dream job, it does not mean you can secure it. There are many many other graduates, who may have better resume/ skills to do will in interviews/ assessment center. There is no 'right' choice, and doesn't mean your first job equal to lifetime job. I will advise set 2-3 companies as targets, take up their case competitions/ attend their career fairs to network, and ask your seniors who are applying for these companies the application process and learn from them if the pass or fail. If grades are not your forte, then you have to find ways to stand out compare to the rest. And these are some of the ways.

Finance is really a dog eat dog world. Working hours is crazy and competition is tough. If you are aiming to go for the kind of "glamorous" front office roles. Be prepared to grind 14hours a day in the first few 3-5 years of your career.
Personally, I'm a junior analyst in my second yr and I already felt quite worn out

Originally Posted by Unregistered

Honestly, if your grades are not good, then go for marketing. Finance is for those with top grades and from prestigious universities.

I have to agree with this. Jobs in marketing (with a few exceptions) tend to be more forgiving about bad grades - personal experience.

[yourplaceormine]

Originally Posted by Unregistered

I have to agree with this. Jobs in marketing (with a few exceptions) tend to be more forgiving about bad grades - personal experience.

I have personally heard this a lot as well. Probably more difficult to break in without necessary connections...

[yourplaceormine]

Originally Posted by Unregistered

Finance is really a dog eat dog world. Working hours is crazy and competition is tough. If you are aiming to go for the kind of "glamorous" front office roles. Be prepared to grind 14hours a day in the first few 3-5 years of your career.
Personally, I'm a junior analyst in my second yr and I already felt quite worn out

Hmm would you say that career progression is not guaranteed? Are there people that despite 3-5 years of grinding, get pigeonholed somewhere and don't see progression in their finance career?