Which specialisation to choose in MBA traditional or new specialisations like consulting,supply chain mgmt,IT,Business Analytics.
Answers (3)
29th Jun, 2019
Hi
The initial phase of an MBA program (usually the first year in a two year MBA program) is dedicated towards completion of the core courses. These are designed to build a strong foundation of the basic concepts across the various management subjects. During the latter part of the program, you can choose to specialise in a particular area.
There may be numerous factors that influence your decision regarding the area you wish to specialise in. Depending upon your priority, you may choose a field as per the market demand (job availability), your interest area, preferred job profiles and the compensation package.
List of MBA Specialisations
The list of the most popular MBA specializations in no particular order is as follows:
Marketing
Human Resources
Finance
Information Systems
Consulting
Entrepreneurship
Operations Management
Lets look at each one of them.
1. Marketing
The increasing competition has necessitated the need for competitive positioning and excellent marketing skills including the ability to differentiate your product and create a niche for your company in order to sustain long-term profitability for your products or services.
The marketing department plays a crucial role in any organisation as they are responsible for bringing in new businesses, growing the revenue, increasing market share and contributing to the companys growth and profitability.
Students opting for this specialisation would be able to get insights into various key areas required for every organisation or corporation, some of which include market research and analysis, competitive analysis, consumer behaviour, customer analysis, business ethics, product management, brand management, advertising, digital marketing and e-commerce.
Whether your interest area lies in market research or advertising or sales/distribution of FMCG (Fast moving consumer goods), consumer durables or youd like to work in IT sales, media, marketing of various services, internet marketing, an MBA in marketing will give you the chance to explore jobs in a wide variety of sectors.
Learn more about Careers in Marketing.
2. Human Resources
A specialisation in HR helps you understand how to acquire, manage and retain workforce within an organisation in a systematic and organised manner.
This area aims to provide you with the knowledge and ability to manage employees and execute the related work processes within a company covering various aspects including recruitment, selection, training and development, designing jobs, assessments and motivation (promotions/rewarding performance of employees), health and safety, compensation and managing exits from a company.
It also involves managing relationships or any issues arising between the management and the employees. They have to ensure that a cordial relationship exists between them for the smooth functioning and the success of the organisation. They may also be required to take charge of various activities like get-togethers or off-site visits which may be an integral part of the office culture.
Learn more about Careers in Human Resources.
3. Finance
This area seems to be a popular choice and as per Top MBA, it accounts for around 22% of the post-MBA career choice. The irresistible pay packets offered in some of the finance-related jobs may be responsible for the high influx of MBA grads into the finance stream.
The specialisation helps you get thorough insights into how the financial world functions, the various financial theories and how these can be applied to solve the various business problems.
Your career choice could be in any of these areas: investment banking, asset management firms, hedge funds or private equity, portfolio management, credit risk management, hedge fund management or derivatives. Even the non-financial firms or companies would have their in-house finance department which would provide various job opportunities in finance.
Read more about Careers in Finance (including Investment banking jobs and venture capital careers).
Also read,
How to get into Mergers and Acquisitions
How to get into Asset Management
Asset Management vs Investment Banking Career
Blockchains and Cryptocurrencies in MBA Programs
Investment Banking vs Management Consulting
How to get into Private Equity
Private Equity Career Guide
4. Information Systems
The use of technology has extended to almost every sector and industry which is why theres a growing demand for professionals with a combination of business and advanced technical expertise.
The specialisation would help you to efficiently manage e-commerce so that you have a thorough understanding of the changes in the competitive business environment; youd have gained the technical knowledge of emerging technologies in the IT field.
The various areas that may be covered in this specialisation include systems analysis, network security, data analytics, supply chain management, e-business along with managerial decision-making as well as project management.
Read more about Careers in Information Systems and Technology and Job Opportunities and average salaries after MIS degrees.
5. Consulting
Consulting is another favourite choice, perhaps a dream destination for some. The high profile jobs offering fantastic salaries with perks and the opportunity to travel places is primarily responsible for the allure surrounding this profession.
Consultants are hired when an outsiders opinion and expertise is needed to provide solutions to specific problems or challenges faced by the organisation or take charge of projects that may be beyond the capacity of the internal staff.
There are various sectors related to the consulting profession including the more popular ones like strategy consulting, IT/technology consulting, operations consulting, boutique consulting to the lesser known areas like HR, investments, public relations/media, education or advertising.
Those opting for this profession may be able to boast abo
The initial phase of an MBA program (usually the first year in a two year MBA program) is dedicated towards completion of the core courses. These are designed to build a strong foundation of the basic concepts across the various management subjects. During the latter part of the program, you can choose to specialise in a particular area.
There may be numerous factors that influence your decision regarding the area you wish to specialise in. Depending upon your priority, you may choose a field as per the market demand (job availability), your interest area, preferred job profiles and the compensation package.
List of MBA Specialisations
The list of the most popular MBA specializations in no particular order is as follows:
Marketing
Human Resources
Finance
Information Systems
Consulting
Entrepreneurship
Operations Management
Lets look at each one of them.
1. Marketing
The increasing competition has necessitated the need for competitive positioning and excellent marketing skills including the ability to differentiate your product and create a niche for your company in order to sustain long-term profitability for your products or services.
The marketing department plays a crucial role in any organisation as they are responsible for bringing in new businesses, growing the revenue, increasing market share and contributing to the companys growth and profitability.
Students opting for this specialisation would be able to get insights into various key areas required for every organisation or corporation, some of which include market research and analysis, competitive analysis, consumer behaviour, customer analysis, business ethics, product management, brand management, advertising, digital marketing and e-commerce.
Whether your interest area lies in market research or advertising or sales/distribution of FMCG (Fast moving consumer goods), consumer durables or youd like to work in IT sales, media, marketing of various services, internet marketing, an MBA in marketing will give you the chance to explore jobs in a wide variety of sectors.
Learn more about Careers in Marketing.
2. Human Resources
A specialisation in HR helps you understand how to acquire, manage and retain workforce within an organisation in a systematic and organised manner.
This area aims to provide you with the knowledge and ability to manage employees and execute the related work processes within a company covering various aspects including recruitment, selection, training and development, designing jobs, assessments and motivation (promotions/rewarding performance of employees), health and safety, compensation and managing exits from a company.
It also involves managing relationships or any issues arising between the management and the employees. They have to ensure that a cordial relationship exists between them for the smooth functioning and the success of the organisation. They may also be required to take charge of various activities like get-togethers or off-site visits which may be an integral part of the office culture.
Learn more about Careers in Human Resources.
3. Finance
This area seems to be a popular choice and as per Top MBA, it accounts for around 22% of the post-MBA career choice. The irresistible pay packets offered in some of the finance-related jobs may be responsible for the high influx of MBA grads into the finance stream.
The specialisation helps you get thorough insights into how the financial world functions, the various financial theories and how these can be applied to solve the various business problems.
Your career choice could be in any of these areas: investment banking, asset management firms, hedge funds or private equity, portfolio management, credit risk management, hedge fund management or derivatives. Even the non-financial firms or companies would have their in-house finance department which would provide various job opportunities in finance.
Read more about Careers in Finance (including Investment banking jobs and venture capital careers).
Also read,
How to get into Mergers and Acquisitions
How to get into Asset Management
Asset Management vs Investment Banking Career
Blockchains and Cryptocurrencies in MBA Programs
Investment Banking vs Management Consulting
How to get into Private Equity
Private Equity Career Guide
4. Information Systems
The use of technology has extended to almost every sector and industry which is why theres a growing demand for professionals with a combination of business and advanced technical expertise.
The specialisation would help you to efficiently manage e-commerce so that you have a thorough understanding of the changes in the competitive business environment; youd have gained the technical knowledge of emerging technologies in the IT field.
The various areas that may be covered in this specialisation include systems analysis, network security, data analytics, supply chain management, e-business along with managerial decision-making as well as project management.
Read more about Careers in Information Systems and Technology and Job Opportunities and average salaries after MIS degrees.
5. Consulting
Consulting is another favourite choice, perhaps a dream destination for some. The high profile jobs offering fantastic salaries with perks and the opportunity to travel places is primarily responsible for the allure surrounding this profession.
Consultants are hired when an outsiders opinion and expertise is needed to provide solutions to specific problems or challenges faced by the organisation or take charge of projects that may be beyond the capacity of the internal staff.
There are various sectors related to the consulting profession including the more popular ones like strategy consulting, IT/technology consulting, operations consulting, boutique consulting to the lesser known areas like HR, investments, public relations/media, education or advertising.
Those opting for this profession may be able to boast abo
Comments (0)
28th Jun, 2019
Dear Sir / Ma'm, it entirely depends on you and your prefernces and preferred field of study. No one can suggest you anything in this aspect as it is about your chocie and what you aspite to do and what you want to do. So, the call is yours to make. Choose wisely because you will be making a profession out of it.
Comments (0)
28th Jun, 2019
Hello Aspirant!
Choosing an MBA Specialization can be as difficult and confusing as the decision to choose a career for yourself or deciding from where you want to pursue your MBA degree. We, at Shiksha, have found out that though MBA institutes keep coming up with highly specialized courses and programmes, such as MBA in Sports Management or MBA in Hospitality & Tourism, most Indians are wary of their credibility and reputation in the job market.
Here are the top 5 MBA specializations in India that are most popular among MBA aspirants
- Finance
- Marketing
- Operations
- Information Technology
- Human Resources
Hope this helps you :)
Comments (0)
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