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How to Choose the Best Specialization in MBA?

Update on 2024-04-15

How to Choose the Best Specialization in MBA?

About MBA Degree

An MBA degree is a postgraduate degree in business administration awarded to individuals who fulfill the academic requirements of their program. An MBA degree opens up a world of opportunities that takes one’s career several notches up in the field of business management.

It is often connected with an increment in pay scale, better promotion, and tenure prospects. Big companies prefer candidates to have an MBA degree to bring about growth in the company profits with a responsible approach.

There are several popular MBA streams – finance, marketing, management, etc., that allow students to specialize in a branch of business, which is why it is necessary to assess your interests and skills before making the choice.

An MBA or a Master of Business Administration is a widely recognized and well-appreciated qualification for corporate houses where superior management skills are required to deal with complex business scenarios.

In fact, in India too, the demand for hands-on managerial skills in order to run growing business conglomerates is seen to be on a rise. An MBA will give you the skills to succeed in the corporate world. As long as you choose the right specialization, you'll be better equipped to gain higher benefits.

Begin with whatever specialization the student desires. One of the main reasons for an MBA/PGDM is to gain management and administration skills, be it in HR or Finance and other aspects. A student can gain expertise in every field of management by choosing his/her specialization.

The MBA degree is appropriate for students who wish to pursue a business career in general management. An MBA program requires a two-year full-time course of study and can be done either full-time or part-time. The minimum eligibility to apply for the course is a bachelor's degree,

The MBA and PGDM degrees are post-graduate courses that are awarded after the completion of an advanced study program. The course qualifies students to handle higher responsibilities in domains wherein they already possess a high degree of expertise. Choosing a specialization can also help you gain the skills necessary to join a specific field.

This article will look at the MBA specializations with the greatest opportunity for employment.

List of MBA Specializations in India

Below are the most common specialization streams that are offered by colleges in India. MBA programs offer a lot of specialization choices:

  1. MBA in Finance
  2. MBA in Human Resource Management
  3. MBA in Information Technology (IT)
  4. MBA in Logistics Management
  5. MBA in Marketing Management
  6. MBA in Business Management
  7. MBA in Rural Management
  8. MBA in Health Care Management
  9. MBA in Operations Management
  10. MBA in Event Management
  11. MBA in Business Analytics

How to Choose the Best Specialization for MBA Course?

It's difficult to make decisions about what specialization to pursue because there are so many options. And that’s why we’ve created a guide to help you with your selection of MBA specialization! If you're trying to make up your mind as to which MBA specialization to select, here are some factors to consider.

1. The Institution’s Ranking

When choosing business colleges, the most important thing to do is consider the institute ranking, as that will determine whether they will prepare you for a high-paying job. Ideally, one should study at the school that has the best reputation as well as the highest ranking in the subject they wish to study.

Even though there are many institutes offering MBA courses, it's more important to choose one that is both well-known and reputable. This is because reputed institutes have tie-ups with big and reputed companies like IBM, Mahindra, TCS, Goldman, Amazon, Deloitte, etc.

Thereby ensuring that you can find the right job and allowing you to choose the best place to work at. It is important to do thorough research before joining any institution for an MBA course.

2. Identify your Strengths and Interests

The second most important factor before choosing the MBA specialization is self-analysis. Students should look at themselves and find out their core strengths and interests so that it becomes easy to identify the area in which they can excel.

Before selecting an MBA specialization one must take these factors together for a more accurate choice that is interest and long-term goals. Once you have a clear idea of what you want from your MBA degree, it will become much easier to choose a specialization. The key is to select an MBA specialization that will help you grow as a professional and ensure long-term employability and relevance in the fast-changing industry.

3. Evaluate the Salary Figures

You need to take into account the institution's track record, placement history, and success rate. The student should try finding out the highest and average salary package offered to institute students by top-notch companies.

Through this students will be able to get a fair idea of what they will get after completion of the course. The salary is an important consideration, but it's not the only one.

4. Program Length

Master’s in Business Management is a 2-year course and some require only one year so it is very important for the students to choose the right specialization according to the duration of the course. Because program length matters in the choice of specialization.

5. Take a Close Look at the Faculty

Get to know some faculty members of an institute closely. Faculty are often great sources of information, especially about the research other members of their departments are doing. Also, faculties working in different academic institutions have access to different resources.

Students can check their experience, qualification, and educational background. As students have the right to know their faculties. With the help of assessing the faculties of different institutions students will be able to narrow down the list of the institutes and find & choose the right one.

Top In-Demand MBA Specializations

The MBA specialization structure helps you focus on your individual career needs. The different specializations represent different career goals from general management to consulting to functional areas of business like marketing, human resources, or finance.

You are not locked into a single career track but can choose electives that create a custom-built business education. Below are the top in-demand MBA specializations:

1. General Management

General management specialization is one of the consistent and most popular MBA specializations,  students of general management will learn skills of management and perspective that can be applied to any industry,  from marketing systems to human resources.

Skills required:

  • 1. Leadership skills
  • Communication skills
  • Strategic thinking
  • Sensitivity

2. Finance

The growth field in finance is immense. Finance management students will learn to control and plan the financial resources of any industry. Finance management also focuses on the Management accounting of the industry.

Skills required:

  • Supervisory skills
  • Mathematics skills
  • Leadership skills
  • Communication skills

3. Information Technology

Information technology students will be studying how data is transferred within companies, and into the world. MBA specialization in Information Technology lets students know about the flow of information technology in organizations.

Skills required:

  • Knowledge of IT
  • Problem-solving skills
  • Analytical skills
  • Adaptability to change

4. Marketing Management

If a student has an interest in marketing and advertising then choose the marketing specialization of MBA. Students will learn about promoting techniques of products and services and designing and executing marketing plans and campaigns.

Skills required:

  • Interpersonal skills
  • Strategic skills
  • Communication skills
  • Entrepreneurial skills

5. Operation Management

If a student has an interest in the supply chain, logistics, or management they are advised to opt for the operation management specialization of an MBA. The operations manager's work is to focus on organizing and planning and managing the production of increasing the efficiency of the organization.

Skills required:

  • Basics of organizing
  • Corporate communication
  • Organizational behaviors
  • Planning production process

6. Event Management

Event management is another top-in-demand specialization of an MBA. students learn the skills of event logistics, Customer Service, Catering, Logistics, Décor, Glamour Identity, etc.

These skills are used in organizing events, conferences, fairs, functions, exhibitions, etc. Students learn about how to target the audience, develop a theme for an event, communicate and promote the concept of an event, handle an event successfully, and many more.

Skills required:

  • Organizational behaviors
  • Event production process
  • IT and computer education
  • Event planning

Top Institutes for Masters in Business Management

These are some of the top institutes that offer MBA courses:

1. Cartier Global Academy (CGA), Mumbai

  • Approved by: UGC
  • Type: Private

2. Indian Institute Of Management Ahmedabad (IIMA), Ahmedabad

  • Approved by: EQUIS AICTE
  • Type: Government

3. Indian Institute Of Management (IIMB), Bengaluru

  • Approved by: AICTE EQUIS Ministry of HRD
  • Type: Public

4. Indian Institute Of Management (IIMC, Kolkata), Kolkata

  • Approved by: UGC AMBA AACSB EQUIS
  • Type: Public

5. Indian Institute Of Management (IIMC, Kolkata), Kolkata

  • Approved by: UGC AMBA AACSB EQUIS
  • Type: Public

6. Shailesh J Mehta School Of Management (SJMSOM), Mumbai

  • Approved by: AICTE
  • Type: Private

7. Indian Institute Of Foreign Trade (IIFT), New Delhi

  • Type: Government

8. Institute Of Management-Christ University (IMCU), Bengaluru

  • Approved by: Other
  • Type: Private

9. K. J. Somaiya Institute Of Management Studies And Research (KJ SOMAIYA), Mumbai

  • Type: Private

10. Narsee Monjee Institute Of Management Studies (NMIMS), Mumbai

  • Approved by: UGC NAAC NBA AICTE
  • Type: Deemed University Private

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