MBA programs are highly sought after because they can help young graduates climb up the corporate ladder pretty quickly.
It’s not surprising to note that in comparison to other executives who may have just a Bachelor’s degree, MBA postgraduates are often the first in line for promotions.
MBA students get to work on real life case studies, gain in-depth industry knowledge, enroll in internships with leading companies, broaden their professional networks, and be on the fast track to promotions and higher average salaries.
The best MBA programs give a student insight into different subjects by offering specializations. These are augmented versions of the traditional MBA, and provide deeper learning on specific career paths, from marketing to finance. So what are the options?
Choosing MBA specializations
One of the best ways to decide which specialization suits you best is by analysing your strengths first. Working your way to the top in any organization becomes more fun when the role you take up is aligned with your interests. Here’s a look at some of the top-rated specializations that are usually offered.
If words like ‘forex’ and ‘stock exchange’ give you an adrenaline rush then delving deeper into the world of international markets, foreign currency and regulation may be the right specialization for you. Global brands that have a firm foothold in every country are the top hirers of students who have international management as a specialization, closely followed by worldwide financial institutions.
International management MBA graduates get a chance to travel the world, interact with people across cultures and are paid well too. Knowledge about how business works in a particular country can also be hugely rewarding.
The world runs on some form of marketing or another, and the ability to traverse different mediums of communication while growing one’s clientele is no mean feat.
Most MBA graduates who specialize in marketing start out as interns at a junior executive level. Depending upon how long one works in the same organization and the kind of responsibilities that are handled, executives get promoted to mid-level management and then highly paid specialists.
Seasoned Marketing Managers eventually lead their own team and may be entrusted with broader responsibilities such as launch of a new product or brand.
Human Resource Management
With the move to remote work, effective human resource management has become more important than ever. People are an organization’s greatest asset, and if they’re mismanaged, employee turnover will be high.
An HRM specialization focuses on the lifecycle of an employee, from their first interview to their annual performance reviews. Knowing how to manage employees more effectively, mentor newcomers, improve office culture and enforce company rules are important tasks for an HR manager. MBA graduates usually start out as junior level executives before becoming specialists and managers.
IT is growing by leaps and bounds in almost every industry, so an interest in technical subjects like cybersecurity, networking and even data science is more important than ever. One of the biggest challenges in IT is to stay on top of the latest developments and trends. Organizations across the world are willing to pay big for MBA graduates who can support in areas like digital transformation, implementing enhanced cybersecurity protections and more. Most graduates start out as interns and later take up job specific management roles within the organization.
If you have the next big business idea and you’re ready to make your mark, then specializing in entrepreneurship will help you immensely.
Owning a business and running it efficiently is no small task and you’ll be a much better manager once you understand what truly makes a business tick. You’ll get to learn from real case studies about business enterprises that have made it big and how they work hard to stay that way.
From covering the basics of finance, marketing, operations, communications, economics to even skills like negotiation, an entrepreneurship MBA program could set the foundations for your future as a successful business owner.