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
Google
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-:

LinkedIn
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

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

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.