Industries require leaders who know to organize and run business smoothly and profitably. This individual should know about managing the resources at hand but should keep business as the key factor.
Master of Business Administration (MBA) holders are put through an education course that teaches them the skills required to be a professional in a managerial post with a key focus on managing the business environment. The 2-year course (time may vary) is a challenging yet fulfilling course that prepares students to take on any task that comes their way.
Their study curriculum is heavy with business-based subjects like accounting, finance, statistics, business mathematics, business analytics, and other MBA Specializations Available. There are, however, many management-based subjects like human resources, operations research, supply chain management etc. In addition, many schools of MBA specializations require their students to complete internships as a criterion for the degree. This helps students have job experience before they apply for jobs, boosting their chances of being accepted. We will also talk about MBA in HR and various other courses. You can also look out for MBA colleges in India if you are a local applicant.
MBA Specializations: An Overview
Master in Business Administration is the generic term for the course, and there are MBA Specializations that you can pursue. These specializations will make you focus on one subject of the course as the crux around which all the other subjects will revolve. The advantage of doing an MBA Specializations course is that, rather than being all over the place, all of your efforts can be utilized by the organisation towards one set goal, yielding better results. This is the reason there is high popularity for MBA colleges in India.
What’s to follow is how MBA Specializations can benefit a student and discuss some well-known MBA Specializations that one can opt for when looking to pursue an MBA. You should be aware of all the specializations such as MBA in HR to make a great decision.
Benefits of opting for MBA Specializations
All organizations and businesses, big or small, are built on the foundation of the business. If it works with money, the knowledge of the business is key, not only to handle what resources they have but also to expand themselves. This makes the holder of MBA Specializations a jack of all trades, as they are equipped to work for any company, irrespective of their field. Thus, considering going for an MBA in HR might land you a great job and set you off for a bright future.
Following are some of the benefits of pursuing MBA Specializations:
- New graduate students stepping onto the working market platform lack the confidence necessary to work at an organisation. This becomes a concerning factor for the employer and causes many students to lose valuable opportunities.
- MBA students are taught the inner workings of any business. As a result, they have keen insight into the business structures that companies follow. This gives them a boost in confidence, helping them along in their careers. Hence, making it quite popular amongst students and being pursued by them in their post-graduation.
- Your education qualification has much to do with how you are perceived in your workplace. Though respectable, a bachelor’s degree is not given much thought to important decision-making. On the other hand, MBA specializations holder is considered individuals who can make sound and good decisions. Thus, making MBA colleges in India very popular.
- It is a good opportunity for some looking into a career change. Most MBA courses do not discriminate between previously opted-for disciplines and allow all to apply for admission. This gives students a unique opportunity to know two completely different subject types.
- You could be from a technical background switching onto the business side, making you an invaluable asset. Thus, making an MBA in HR a great choice for you.
- Strategy is an important skill in all walks of life. General management courses professionals come across many situations daily. Though some may be solved with ease, many others require quick thinking and good strategic skills. An MBA course is designed to equip a managerial professional to develop creative ideas to tackle such situations.
MBA Specializations Modules
MBA specializations is a vast field with many subjects in its curriculum to produce a well-rounded business professional. However, there is an option available for students to specialise in a specific sub-field under their MBA degrees. This gives them the option to target a specific aspect of general management courses that catches their fancy. This is pursued by students for their post-graduation and makes MBA colleges in India very popular.
Marketing
Why is it needed – the core goal of any business that has ever existed is to provide goods or services to their consumers. Therefore, it is the job of any business to reach a consumer and reach the right consumer. The art of identifying and targeting sales to the right consumer is marketing. This is a well-sought-after skill and can help you reach great heights in your career, thus making these general management courses very popular for post-graduation.
Skills and Knowledge gained – the subjects taught in these specializations create good general management professionals with knowledge in marketing goods. Hence, making it an interesting course to pursue post-graduation. Some of the subjects taught are as follows:
- Marketing management
- Operations management
- Salesforce management
- New product strategy and branding
- Digital marketing
- Social media marketing
- Consumer and brand insight strategy
- International and multinational marketing
Help in the career – MBA specializations in marketing is a great way to boost your career, as many individuals of these specializations are considered for higher managerial and executive positions.
Jobs available after specialising in Marketing– the following are a few job titles available for a marketing specialist:
- Marketing Manager
- Business Development Manager
- Area Sales Manager
- Brand Manager
- Media Planning
- Average Salary packages – the average annual Salary package of a marketing professional can go up to 7 lakhs in the beginning years with a change in growth.
Companies Recruiting
- Procter & Gamble (P&G)
- Pepsi. Co
- Unilever
- American Express
- Coca-Cola
- General Mills
- Amazon
- Apple
- Starbucks
Required Skillset
- Communication skills
- Fluency in English
- Analytical skills
- Problem-solving skills
- General Management skills
- Research-oriented
- Interest in changing financial trends and economies of other countries
- Business aptitude.
When you apply for a particular university, there are a few components in the application they prefer. Some of them are mentioned below:
- GMAT score
- GMAT Quant percentile
- MBA essays
- MBA admission interviews
- Undergraduate GPA
- Recommendations
- Undergraduate college reputation
- Length of experience
- International experience
- Industry of employment
- Undergraduate major
- Language proficiency
- Statement of purpose
Universities that offer MBA specializations in Marketing At Global Level are-
Kellogg School of Management, Northwestern University, Evanston, Illinois
- Duration of Course: 2 years
- Course Fee: $36,272 per year
The Fuqua School of Business, Duke University, Durham, North Carolina
- Duration of Course: 18 months
- Course Fee: $34,100 per year
The Stephen M. Ross School of Business, University of Michigan, Ann Arbor, Michigan
- Duration of Course: 2 years
- Course Fee: $34,323 per year
The Wharton School of the University of Pennsylvania
- Duration of Course: 2 years
- Course Fee: $36,150 per year
The Columbia Business School at Columbia University, New York
- Duration of Course: 2 years
- Course Fee:$37,200 per year
Human Resources
Why is it needed – the most valuable resource that businesses have had since the beginning of time is humans. They are the blood cells of the human body, which is an organisation. Therefore, for a business to function systematically, the human force has to be organised. This is where Human Resource general Management courses come in. These professionals are equipped with managing the workforce of the company. Thus, making MBA colleges in India very popular. And justifying the need for MBA in HR in various companies and making it so much in demand for post graduation.
Skills and Knowledge gained – the key skill that HRM professionals learn is communication. They are taught the correct techniques for negotiating with fellow workers and conflict-solving skills. Some other skills that they learn for MBA in HR:
- Multi-tasking
- Recruitment and hiring
- Negotiation skills
- Problem-solving and conflict management
- Performance evaluation
- Training and development
Help in the career – These general management courses are in a demanding field that requires all of their attention spans. Therefore, professionals in MBA in HR are well respected and compensated for all of their work.
Jobs available after specialising in Human Resources – following are some of the job titles that you could be considered if you have done an MBA in HR:
- HR generalist
- Staffing director
- Director of HR training and development
- Compensation manager
- Technical Recruiter
- Employee relations manager
Average Salary packages – freshers Salary packages range from 3-5 lakh per year. However, after some experience, it can shoot up to 6 lakhs per annum.
Companies Recruiting
- KPMG
- Reliance
- Wipro
- Larsen & Toubro
- Deutsche Bank
- Infosys
- Pepsico
- Aditya Birla Group
- L’Oréal
- Make My Trip
Required Skillset
- Leadership & People Management
- Empathy
- Legal Knowledge
- Recruitment & Onboarding
- Termination & Exit Plan Formulation
Universities that offer MBA specializations in Human Resource At Global Level are-
Stanford University, Stanford, California
- Duration of Course: 2 years
- Course Fee: $37,353 per year
Cornell University, Ithaca, New York
- Duration of Course: 24 months
- Course Fee: $37,013 per year
Northwestern University
- Duration of Course: 2 years
- Course Fee: $66,009 per year
University of South Carolina, Los Angeles, California
- Duration of Course: 2 years
- Course Fee: $41,223 per year
New York University, New York
- Duration of Course: 2 years
- Course Fee:$50,300 per year
Finance
Why is it needed – These general management courses focus on studying money systems and investment strategy. It is as difficult a field as it is important for any institute to function and profit. Moreover, the individuals of these specializations are valuable assets for any company. As there are not as many of them, they are in heavy demand in the job market.
Skills and Knowledge gained – many skills need to be built as a financial specialist, like business analysis and mathematics. Following are some of the subjects that they are taught in their training:
- Investment Strategy
- Understanding of Local and Global Economy
- Merger and Acquisitions
- Corporate and Financial Risk Management
- Hedge Fund management
- Help in Career – currently, there is a shortage of professionals with a keen knowledge of finances. This makes anyone specialising in this subject a valuable asset. Professionals with these specializations will be hired for good job titles.
Jobs available after specialising in finance – the following are some job titles available after MBA in Finance:
- Treasury
- Hedge Fund Management
- Private Equity
- Credit risk management
- Derivative structuring
- Average Salary packages– the average Salary packages of a financial specialist could be anywhere from $150,000 to $270,000, specialising depending upon your job title and work experience.
Companies Recruiting
- Goldman Sachs
- Morgan Stanley
- Boston Consulting Group
- Bain & Co
- JP Morgan Chase & Co
- McKinsey & Co
- Barclays
- KPMG
- SBI
- HDFC
Required Skillset
- Empathetic Values
- Financial Accounting
- Analytical Acumen
- Knowledge of IT Software
- Computational Skills
Universities that offer MBA specializations in Finance At Global Level are-
Cornell SC Johnson School of Business
- Duration of Course: 2 years
- Course Fee: $74,315 per year
Wharton School of Business
- Duration of Course: 2 years
- Course Fee: $81,110 per year
Columbia Business School
- Duration of Course: 2 years
- Course Fee: $84,150 per year
Stanford Graduate School of Business
- Duration of Course: 2 years
- Course Fee: $57,300 per year
Chicago Booth School of Business
- Duration of Course: 2 years
- Course Fee: $73,440 per year
Information Systems
Why is it needed – As technology keeps developing at an unmonitored pace, it has become essential to have business professionals who know their way around a computer. MBA in information systems creates individuals who have knowledge of business and technology in the field.
Skills and Knowledge gained – the syllabus of this course is a well-balanced mix of business-oriented and technology-oriented subjects. Some of them are listed below:
- Financial and management accounting
- Managerial economics
- Business research
- Information System management
- Datacenter management
- Information security
- Web technologies
- Help in Career – Professionals are specializing in information technology will be bridging the gap between technical and business departments. They are an individual with the skill set of two professionals, which is a big career booster.
Jobs available after specializing Information System– following are the job titles available:
- Computer Information Specialists
- Information System Manager
- Quality analyst
- Chief Technology Officer
- Business Analyst
- Average Salary packages – The average Salary packages range per year for an information system specialist is $140,000.
Companies Recruiting
- Cognizant
- Wipro
- Deloitte
- HCL
- Infosys
- TCS
- KPMG
- Amazon
- Vodafone
- Snapdeal
Required Skillset-
- Problem Solving Skills
- Data Management & Analytics
- Information Technology
- Project Management
- Leadership & Teamwork
Universities that offer MBA specializations in Information Systems At Global Level are-
Carnegie Mellon University (Tepper)
- Duration of Course: 2 years
- Course Fee: $70,000 per year
Massachusetts Institute of Technology (Sloan)
- Duration of Course: 2 years
- Course Fee: $77,168 per year
University of Texas-Austin (McCombs)
- Duration of Course: 2 years
- Course Fee: $51,020 per year
Georgia Institute of Technology (Scheller)
- Duration of Course: 2 years
- Course Fee: $29,508 per year
Arizona State University (W.P. Carey)
- Duration of Course: 2 years
- Course Fee: $28,720 per year
Consulting
Why is it needed – consulting is a job description that has many professionals migrating to it. As a consultant, your job would be to advise businesses in your areas of expertise. Many businesses today, especially new budding ones, do not have professionals for every field of work. Consultants act as a valuable resource to them in such times of need.
Skills and knowledge gained – you will be learning the following in your consultancy specializations:
- Cross-cultural management
- Strategic management
- Operations management
- Marketing
- Corporate finance
Help in Career – consultants are not bound to a job title or description, as it keeps changing based on the company’s needs that they will be consulting. This helps you gain an idea of every job type that is available out there for your expertise.
Jobs available after specializations in Consulting – the following are some job titles available:
- Management consultant
- Change manager
- Project manager
Average Salary packages – an individual can make up to $170,000 per annum.
Companies Recruiting-
- Deloitte
- KPMG
- Bain & Co.
- Mc Kinsey
- Pwc
- Ernst & Young (EY)
- Price Waterhouse Coopers
- Oliver Wyman
- Accenture
- Alliance Consulting
Required Skillset-
- Quantitative and analytical skills.
- Ability to work under pressure and cope with challenging situations.
- Good teamwork skills.
- Flexibility.
- Understanding of business environments and commercial awareness.
Universities that offer MBA specializations in Consulting At Global Level are-
INSEAD, Singapore
- Duration of Course: 1 year
- Course Fee: $49,360 per year
Columbia Business School
- Duration of Course: 2 years
- Course Fee: $74,000 per year
Harvard Business School
- Duration of Course: 2 years
- Course Fee: $73,440 per year
The Wharton School
- Duration of Course: 2 years
- Course Fee: $74,000 per year
London Business School
- Duration of Course: 2 years
- Course Fee: $54,500 per year
Entrepreneurship
Why is it needed – there is a need for people who innovate and have ideas to create something new and something better. These entrepreneurs make up the think tanks in major companies and develop ideas for business models or products.
Skills and knowledge gained – following are some of the subjects learned:
- Business communication
- Operations research
- Project management
- Human Resource Management
- Managerial economics
- Strategic Management and Business
Policy help in the career – Specializing in entrepreneurship opens up new avenues for you, career-wise. You will be considered an individual who has new ideas and can push the organization to new heights. In addition, gaining more experience over the years will open the gates to higher managerial positions for you.
Jobs available after specializing in Entrepreneurship-
- Small business owners
- Business consultants
- Sales managers
- New venture developers
Average Salary packages – the average Salary package of an entrepreneur specialist can be from 3-7 lakhs per year.
Companies Recruiting-:
- AngelList
- TALENTDASH
- Gravity
- Idea
- Zoho
- Amazon
- Airtel
- Vodafone
- Whirlpool
Required Skillset-:
- Business management skills.
- Teamwork and leadership skills.
- Communication and listening.
- Customer service skills.
- Financial skills.
Universities that offer MBA specializations in Entrepreneurship At Global Level are-
INSEAD, Singapore
- Duration of Course: 1 year
- Course Fee: $49,360 per year
- Duration of Course: 2 years
- Course Fee: $74,000 per year
Harvard Business School
- Duration of Course: 2 years
- Course Fee: $73,440 per year
The Wharton School
- Duration of Course: 2 years
- Course Fee: $74,000 per year
- Duration of Course: 2 years
- Course Fee: $54,500 per year
Operations Management
Why is it needed – An operations management professional is responsible for the organisation and management of either production and manufacturing of goods or the provision of services. They are professionals involved in the crux of the business, making sure all things run smoothly.
Skills and knowledge gained – following are some of the skills taught:
- Data analysis
- Multiple technological functions in logistics
- Supply chain management
- Product design, development, and implementation
Help in Career – it provides you with the skill to become a more hands-on professional. Being on the production floor can teach you a lot about the goods/services provided by your company. This information can be then applied to various avenues to find solutions to unique problems.
Jobs available after specialising in Operations Management courses – Following jobs are available for this kind of specializations:
- Operations manager
- Plant manager
- Technical operations manager
- Area operations manager
- Inventory control manager
- Average Salary packages – many operation management specialists see average Salary packages of 4 lakhs at entry-level, increasing to 7.5 lakh after gaining some experience.
Companies Recruiting-
- Amazon
- Wal-Mart
- Johnson & Johnson
- Dell
- Deloitte Consulting
- Procter & Gamble
- FedEx Corporation
- Apple
- Philips Healthcare
- Nike
Required Skillset-
- Understands Customer needs
- Efficacious Communication Skills
- Understanding Organizational Performance
- Tracks and measures Staff Performance
- Maximises Staff Utilization
Universities that offer MBA specializations in Operations Management At Global Level are-
Krannert School of Management, University in West Lafayette, Indiana
- Duration of Course: 2 years
- Course Fee: $42,500 per year
P. Carey School of Business, Arizona, United States
- Duration of Course: 2 years
- Course Fee: $52,000 per year
Rotterdam School of Management. Rotterdam, Netherlands
- Duration of Course: 2 years
- Course Fee: $34,200 per year
Arden University, Coventry, United Kingdom
- Duration of Course: 1 year
- Course Fee: $19,520 per year
University of Arkansas, Fayetteville, Arkansas
- Duration of Course: 2 years
- Course Fee: $25,872 per year
So here are all the top MBA Specializations that you can opt for a great future ahead.
Conclusion
Doing a specialisation in your preferred subject is highly advised for higher education and job advancement.
Health, information technology, international business, consulting, entrepreneurship, and many more are other areas of expertise offered by various universities.
Getting an MBA will offer up a number of new employment opportunities. In the second year of your MBA programme at one of the IIM institutes or business schools, you can choose a major. If you are looking for Top MBA universities for MBA, don’t forget to check out our post on Top 10 MBA Colleges in the World.
