MBA Specializations and Career Opportunities

An MBA program helps shape and prepare a student for work in the corporate sector. When the qualifying student is exceptionally talented, hardworking and resourceful, an MBA degree often opens up a career path for a leadership role.

Over the last few decades, B-schools, that offer the MBA program, have begun to offer students the opportunity to specialize in a specific domain. Which is, the MBA program itself is tailored to suit the demands of a specific field of work in a corporate. Such a tailored program is called a specialization.

Some MBA specializations

•     MBA – Finance.
•     MBA – Marketing.
•     MBA – HR.
•     MBA – International Business.
•     MBA – Risk Management.
•     MBA – Systems Management.
•     MBA – Retail Management.
•     MBA – Logistics and Supply Chain Management.
•     MBA – Operations Management.
•     MBA – Business Analytics.

Why specialize in an MBA?

Specialization in an MBA program allows the student to study the field of work in detail. It is a deep dive into a specific area. And because the program is an MBA, the focus is to prepare the student well – to not just gain expertise, but also to be groomed for a leadership role in the future.

When you opt to do an MBA with specialization, you are:

•     Growing your knowledge in a specific field of interest.
•     Enhancing opportunities for growing your career.
•     Increasing your earning potential.
•     Gaining an edge over peers in the job market and industry.

Choosing an area to specialize in

Read up a lot on industry before you apply for an MBA program. Understand what companies do and how they work. If you have family members who are in leadership roles in companies, hang out with them. Ideally intern at a company and try working in a few departments.

It is only through reading up, talking to people, perhaps working in multiple departments in a company, that you can really come up with your choice of an area to specialize in.

Don’t choose an area of specialization just because everyone is choosing it. You have look at where your interest lies and choose a subject that excites you.

Make sure what interests you is also the field in which you want to grow. This way, when you choose to specialize in that field, you are actually setting off in the right direction on your career path. If you have already gained work experience, review whether you want to specialize in the same field that you have worked in. When you further specialize in a field that you have experience in, you become better in that space – you then become a subject matter expert.

Some MBA Specializations are in demand

MBA – Finance: This is one field in which the demand never goes down. Job prospects are always good. And the salary, as you grow, is top draw. But don’t choose to specialize in finance if you are not a numbers guy. People with an MBA in finance have to work with numbers, draw meaning from them and take decisions based on them.

MBA – Marketing: With the advertising and marketing sector always growing, this is an important MBA Specializations to have. But choose this field only if you are creative and only if you enjoy meeting and networking. This is an action-paced space. You will be required to constantly think outside the box and outthink the competition. This is not a field for introverts.

MBA – HR: People with this specialization are sought after by most companies. The reason is simple: Only when people management is of high quality, can the company produce high quality products or services that deliver profits. So, people with a HR specialization are preferred to run the people function. This specialization invariably leads to a strategic, leadership role. If you have empathy, if you have good people management skills, go for this specialization. You will be groomed to be a great leader.

MBA – IT: With technology dominating every facet of industry, people with this MBA Specializations are always in demand. The roles for people with this specialization are often where cutting-edge technology drives informed decision-making. Choose this specialization if you love technology and are well-equipped to keep pace with developments in that field. Additionally, if are a professional who thinks ahead of the times, it will boost your career prospects. People with this specialization graduate to occupying leadership positions in large tech companies.

MBA – Supply Chain Management: This is an area of specialization that has grown in demand in the last two decades. Quality professionals are in short supply in this field. Project management, operational excellence, negotiation, collaboration, and crisis management – these are the top 

skills that people with this specialization are required to display. Supply chain management is increasingly becoming crucial for companies to compete and grow in the market. Professionals with this specialization also command top draw salaries.

Is there a ‘best’ specialization?

The simple answer is: No. Every field of specialization offers its own opportunities. The choice is really with you, the candidate. There is an ancient principle that governs all work, and working professionals: When you choose a field you love, and work hard at becoming the best in that field, you end up growing in your career and reaching the top of the ladder in your industry.

So, the ‘best’-specialization logic works only when you choose to specialize in a field that you love.

Is work experience important?

Absolutely. A B-School can never teach you what working in industry can. It is imperative, therefore, that you gain at least five years of work experience before you apply for an MBA program. While you can still work in a field unrelated to your undergraduate studies at the start of your career, it is recommended that you choose to specialize in the same field that you have worked in when enrolling for an MBA program.

Simply, experience has taught you many lessons. You still go to a B-School to validate them and embellish the learnings so that they strengthen the foundation of your career.

People Also Ask

1. Which MBA specialization should I choose?

MBA specializations depend on your own interests, skills, and career goals because every MBA specialization has its own benefits. In general, the most popular specializations are Finance, IT/Systems, Operations Management, Marketing, and Human Resources. 

2. Which MBA Specialization is highly paid?

Business analytics is the top most paying job in MBA specializations right now. Business analytics is the process of analyzing data to improve business decisions.

3. What is the difference between a general MBA and an MBA with specialisation?

There is lesser scope to get in-depth knowledge in a particular subject or domain in a general MBA, while a specialisation will give you knowledge and expertise in a particular field.