How to Pick the Right MBA Specialisation?

One of the most sought after courses across the globe, Masters in Business Administration (MBA) is known to be an entry ticket for millions of graduates who are aspiring to hop into the corporate world. An MBA program aims to provide managerial skills to individuals which will allow them to easily manage people working under them and also develop a better insight into the organisational goals. There is a wide spectrum of study in business and management, making it one of the most popular assets for people around the world. It becomes essential for students to consider the actual career goals and professional growth while they are on a quest for choosing the right MBA specialisation. Read more, to know everything about different specialisation fields for management student.

Also Read: Best Answer for Why MBA

Choosing the Right Specialisation: Factors to Keep in Mind

Management education is bugged with myriad choices for students across the world. Picking the right institute with the preferred area of specialization is an important aspect for graduates. This is particularly true in the case of those planning to pursue an MBA. While choosing your MBA specialisation, focus on your interest and career prospects. Let’s take a look at some of these essential factors to be kept in mind:

Career Goals

Before determining your area of specialization, think about your future. Elucidate on your career goals and where do you want to see yourself in the next few years? Introspect about your ambitions and only then, can you reflect upon the direction you want your career to lead. Having a set goal in your mind can actually help you decide your sphere of interest.

Personal Interests and Strength

Identifying your true potential and personal interest can prove to be the greatest factors helping you to determine the right MBA specialisation to build your career in the management field. Choosing your area of interest talks about you and the essential skills required to grow in the profession.

Length of an MBA Program

An MBA is typically a 1 or 2-year academic qualification all across the globe. The initial stage is limited to the fundamentals of various subjects in business and management, while the latter is inclined towards the respective specialization fields.

Subjects Covered

Students are often confused with the curriculum of the Indian universities and that of the universities and college abroad. Thus, it is crucial for you to analyse the different subjects and the topic covered in different MBA specialization disciplines. Knowing the subject curriculum can help you to thoroughly grab the subject knowledge and master the required skills to grow in the field.

B-School Ranking

Once you’re through with the right MBA specialisation, it’s time to find out the university or business school that can help you create a solid foundation in the domain. There is a wide range of institutes offering exciting courses in management and business catering to your interest. Use the AI-tool of Leverage Edu to choose the right course and the preferred university and B-school as per your interest. 

Also Read: Best Countries for MBA

Potential Salary

Getting a good salary package can be a motivating factor while selecting an MBA program. Explore all the professional benefits and merits that come along with an academic qualification. This will help you in choosing an appropriate MBA specialisation to build your career.

Also Read: Job Oriented Courses after MBA

Trending MBA Specialisations

An MBA program builds a strong foundation in the basic concepts across various management subjects while developing managerial skills to become a prospective leader in the world of business. Choosing the right specialisation domain can help you in determining the potential job you will be eligible for in the future.

Going for a generalised MBA or a specialised program, completely depends on the student. To make this easier for you, we have formulated a list of various MBA specialisations offered across most of the universities and business schools across the world:

Marketing

The marketing department within a company carries out the responsibility of bringing in new business for the company and increase the market share for the growth of the revenues. An MBA in Marketing involves the study of the management process through which goods and services move from manufacturers to customers. It also studies the 4 P’s of Marketing: Product, Place, Price and Promotion.

Students pursuing a career in Marketing will get an insight into the areas like Consumer Behaviour, Market Research, Brand Management, Sales Management, Retail Management, Social Media Marketing and Digital Marketing. An aspiring marketing professional is an extrovert with good interpersonal and analytical skills.

Also Read: 

• MBA Marketing Subjects
• Job Opportunities after MBA in Marketing
• How to Build a Promising Career in Digital Marketing

Human Resource

Having great relational abilities and appealing personality makes a good Human Resource Manager. An MBA in HR involves a study of Human Resource Development, Strategic Management and Organisational Management. Other than this, students specialising in this field learn about the cultural, social and financial aspects that can affect the relationship between employer and the employees. Looking for Why an MBA in HR? If there is a workforce, there will be a constant need for HR within the organisation.

Also Read: MHRD Scholarship

Finance

Accounting to nearly 22% of post-career MBA choice, Finance is the one-stop career path in the field of business, concerned with the efficient management of money. It is an ever-growing sector forming an integral part of all the organizations. Students going for an MBA in Finance will get an insightful know-how about budgeting, tax planning, investment analysis, corporate restructuring, banking, portfolio management and financial markets and services. A study of Finance has been further classified into the following 3 categories:

1. Personal Finance
2. Public Finance
3. Corporate Finance

Finance Management has always been and will continue to demand professionals with the skills to solve various business problems. 

Also Read: 

• Courses after MBA Finance
• Certification Courses for MBA Finance Students

International Business

A career in International Business Management involves trading goods, services and capital at an international level. It concentrates on the in-depth aspects of international operations in an organisation. International Marketing Management, International Finance, International Human Resource Management, Export & Import Management, International Trade Laws, International Labour Laws, International Labour Organisation, are some of the subjects covered in this MBA specialisation. 

In this rapidly globalising and liberalising world, where every business wants to expand itself in the international market, there are enormous opportunities for MBA graduates.

Also Read:

• MBA in Foreign Trade
• Career in Hotel Management

Information Systems

Technology has extended to almost every sector and industry, leading to the growing demand for professionals with business and advanced technical expertise. Students pursuing an MBA in Information Systems learn the basics of Computer Systems and Applications, Data Analysis, Database Administration, Network Security, Information Security Management, Technical Support Specialisation, Supply Chain Management and e-Business. Professionals in Management Information Systems (MIS) are trained in organise and analyse data to answer questions and solve relevant problems in an organisation. 

Top Universities

The following are the top universities to choose your specific MBA specialization:

Name of University	Location	QS Global MBA Ranking	Average Cost Per Annum in INR
INSEAD	Singapore	3	76.05 Lakh
London Business School	United Kingdom	6	82.90 Lakh
The Wharton School	United States of America	1	1.23 Cr
HEC Paris	France	7	49.19 Lakh
Kellogg School of Management	United States of America	10	57.03 Lakh
Harvard Business School	United States of America	5	1.11 Cr
Stanford Graduate School of Business	United States of America	1	1.13 Cr
MIT Sloan	United States of America	3	1.17 Lakh
The University of Chicago Booth School of Business	United Kingdom	8	91.26 Lakh

Skills Required

The following are the skills required to pursue MBA distance education:

• Good Communication Skills
• Management Skills
• Leadership Skills
• Analytical Skills
• Problem – Solving Skills

[Bonus] Other MBA Specialisations

Below-mentioned is a list of more comprehensive industry-specific specialization fields for students aspiring to pursue MBA from abroad:

• MBA in Agriculture
• MBA in Energy Management
• MBA in Communication
• MBA in Pharmaceutical Management
• MBA in Project Management
• MBA in Retail Management
• MBA in Healthcare
• MBA in Accounting 
• MBA in Quality Management
• MBA in Fashion Designing

Job Profile and Salary

The following are the popular career options after pursuing MBA:

Job Profile Avg. Salary
Corporate Associate 4.5 Lakh
Financial Analyst 4.5 Lakh
Portfolio Manager 7.1 Lakh
Credit Risk Manager 9.3 Lakh
Senior Executive 4.2 Lakh

Every MBA specialisation offers its own benefits, thus choosing the right course is crucial for your growth and success. You can reach out to our counsellors at Leverage Edu, who can help you identify the right career choice as per your interest and expertise.