An MBA is your ticket to a high flying career. It is a degree which imparts in-depth business knowledge in students. There can be various specialisations in MBA and as a student, you will need to choose one. Your choice will affect your career path forever. Hence, choosing the right specialisation is very important.
In this article, we have compiled a complete guide to the most common MBA specialisations to guide you in your career choice.
What are the most common specialisations?
The most common specialisations are:
- Human Resources
- Information Systems
- International Business
- Operations Management
So let us now give you a brief idea of each specialisation.
Definitely one of the most popular choice for specialisations, a specialisation in Finance provides you with a detailed understanding of the financial world. The demand for finance graduates is high and will remain high, both inside and outside the financial services industry. Expect to be an expert in the financial world, you will know various theories and understand how finance can be used to solve different business problems.
So what kind of profiles wait for you when you complete an MBA in Finance? You can be in any function – asset management, investment banking, hedge funds, credit risk management, portfolio management and various other profiles. It is not necessary to be employed in the financial services profile, you can be employed in the non-financial sector also.
Another extremely popular specialisation in Marketing, which again will remain relevant forever. As competition increases, leading organisations across the world will need the best marketing ideas to make their mark. The marketing department of every organisation contributes actively to ensuring that the products and services will be sold. They help in business growth, add to revenue, increase market share and contribute to the company’s profitability.
If you are blessed with a creative mind, you should definitely consider Marketing. As a student of Marketing, you will get insights into key areas of marketing, understand market research and analysis, competitive analysis, consumer behaviour, business ethics, product management, brand management, customer analysis, advertising, digital marketing and a host of other important theories and the associated practical implications.
The best part of the Marketing specialisation is that you can be employed in any organisation, any industry and across the world. Every organisation needs to market its products and services – be it business to customer or business to business. You will have no limitation in your career.
If you are a people’s person, you get socialise for a living as a human resource professional. An MBA in human resource will equip you with the right knowledge and ability to manage the workforce of an organisation. You will gain interesting skills such as recruitment, training and development, selection, designing jobs, assessment and motivation, compensation and a host of other things.
You will perform a crucial role in any organisation to work for. You will be managing their internal customers, managing relationships with them. You will be vital in maintaining a cordial relationship between the leadership and the grassroots employees. You might choose to specialise in one area of human resources such as recruitment or training and build a career in that line.
The world is run by technology today and this is one specialisation which works well for students who have a technology background. If you have studied engineering in your bachelor degree, then a specialisation in information systems will really work out. You will have a specialisation in information systems along with business insights.
The demand for professionals in this arena is increasing. You will be able to manage e-commerce, have the technical knowledge of working in leading technology organisation of the world. You can work in a leading consultancy as well. This specialisation will give you detailed knowledge of network security, data analytics, supply chain management, e-business, system analysis and other things which will help you in decision making and project management.
Plan to be an expert in international business? Then this is the specialisation for you. You can work in any organisation across the world. This specialisation will teach you critical skills about various aspects of the international business – finance, strategy and operations. You will gain valuable international perspective which is valued in the workforce by companies across the world. You can work in the import-export sector and also open your own business. The possibilities are unlimited.
A niche specialisation is Operations Management. Pursuing this specialisation will impart the expertise to manage entire projects and systems related to a manufacturing or services. The specialisation will give you a competitive edge over others.
The specialisation will provide you with crucial analytical skills and you will gain skills such as product design, supply chain management, quality control, manufacturing, co-ordination between various teams as well as participate in decision making with regards to operations of the organisation you work for.
It is important to remember that a specialisation is not the bible of your career. There are enough professionals across the globe who have a specialisation in one field and work in another field. You can be in Marketing having specialised in Finance or work as an HR having a specialisation in Marketing. The whole point of an MBA is that it opens up doors to opportunities. You can be anything you want.