Pursuing an MBA abroad can be a great decision since it can open countless opportunities in foreign job markets and can enhance your career significantly. The opportunities for MBA graduates have increased, and so have the MBA specializations. Various MBA specializations are available for students today, which can make it a little confusing to choose the perfect specialization.
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Why Study MBA Abroad?
Studying an MBA is a valuable asset to your profile, and studying an MBA abroad is even more valuable. Here are all the reasons why you should consider studying for an MBA abroad:
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High Earning Potential
This is probably one of the most attractive and important reasons why students decide to study an MBA abroad. The ROI on MBA from a foreign institute is way more than what you would get in India. What this essentially means is that there are better and higher-earning opportunities abroad.
An MBA from an average B-school abroad can easily give a high ROI as compared to what you would get if you pursued your MBA from a top Indian B-school. The average salary earned by an MBA graduate of a reputed foreign institution is also higher than the average salary earned by an MBA graduate of an Indian B-school.
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Career Growth
If you pursue your MBA at a reputed business school, you’re in for a lot of exciting opportunities. You will have a higher chance of acquiring a senior management position at a globally renowned company. An MBA from top study abroad destinations can also help you move to a higher managerial role in your existing organization or can also help you move to a new career path altogether. There are endless opportunities!
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Networking Opportunities
When you decide to study MBA at a foreign institution, you end up studying with different people from different parts of the world with varied experiences. This will help you form an extensive and well-consolidated network, which will be extremely helpful in your career. The people you meet during your course can become your mentors or help you with all the relevant information in your field.
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Skills and Knowledge
An MBA imparts great amounts of skills and knowledge. It pushes the candidates out of their comfort zones and makes them solve some real-life business problems by applying some of the advanced management techniques. The course also imparts various crucial skills like leadership, communication, analysis, etc.
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Developing a holistic perspective
By pursuing an MBA from another country, you gain access to a vast network of people and businesses with whom you may constantly push yourself with fresh business management concepts. Such experience gives you complete awareness of the dynamic commercial world as well as a certain receptiveness to little changes in the environment. As an MBA student, you gain valuable information that will benefit you as a professional as well as any potential employer.
Suggested: Highest Paying MBA Specialization in the World
Those were some of the reasons why you should pursue an MBA abroad. Let us now explore some of the MBA streams in demand abroad
7 Most In-Demand MBA Specializations in Future
It is very important that you select a specialization that fits your interests and career goals perfectly. To help you choose, here are the 7 most in-demand MBA specializations in the world:
- International Business
- Business Analytics & Big Data
- Marketing
- Finance
- Strategic Management
- Operations Management
- Entrepreneurship
Now let's learn about each of them in detail
1. MBA in International Business
A specialized MBA in International Management is ideal for business students who plan to work overseas or for multinational corporations after graduation. You'll acquire important skills such as finance, strategy, and operations in an international setting, preparing you to work with people and organizations from all over the world.
Some of the world's greatest firms hire MBAs in International Business Management, including Amazon, Apple, Bank of America, Walmart, Cognizant, Capgemini, Deloitte, Wipro, Bharti Airtel, ICICI Bank, etc. The degree has the potential to lead to an offer that will allow the individual to relocate to another country. This is one of the most demanding MBA specializations.
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Popular Job Profiles |
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Average Annual Salary |
$93,000 or INR 7,727,370 per year |
2. MBA in Business Analytics & Big Data
Due to the sheer growth of Big Data, getting an MBA focusing on Business Analytics and Big Data has become highly popular and is yet another of the most demanding MBA specializations. Businesses are always on the lookout for bright executives who understand the value of data and can quickly analyze it to get meaningful insights. MBA programs in Business Analytics can assist students in learning how to filter and analyze the data and make a positive organizational impact.
Furthermore, students will learn about concepts such as predictive analysis, marketing intelligence, and econometrics in this course. Many industry leaders employ business analytics professionals. These include companies like Boston Consulting Group (BCG), McKinsey & Company, KPMG, Accenture, Deloitte, Morgan Stanley, American Express, Microsoft, Amazon, Google, Facebook etc.
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Popular Job Profiles |
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Average Annual Salary |
$82,000 or INR 6,813,380 |
3. MBA in Marketing
An MBA in Marketing probably remains one of the oldest and most demanded MBA specializations to date. If marketing and advertising are more your style, consider a specialized MBA in marketing. You'll learn how to promote products and services, design and execute marketing campaigns, and communicate with customers—skills that can be applied across marketing and sales roles at B2C and B2B companies.
Market research and analysis, product creation, pricing, promotion, selling, distribution, advertising, and other marketing topics are covered in-depth in the MBA in Marketing programme.
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Popular Job Profiles |
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Average Annual Salary |
$103,000 or INR 8,558,270 |
4. MBA in Finance
Yet another most demanded MBA specialization, MBA in finance, is like an evergreen study option that can never go wrong. MBA in Financial Management comprises subjects that help students understand the key financial business functions, like data frameworks, operations management and accounting rules and regulations.
Students are trained to develop and execute techniques and strategic tools that will help them recognize, comprehend and analyze distinct dimensions of a financial business environment. MBA in finance graduates are also highly paid and are always in demand. So if you like dealing with numbers and solving financial problems, then an MBA in finance is a great option for you.
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Popular Job Profiles |
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Average Annual Salary |
$102,000 or INR 8,475,180 |
5. MBA in Strategic Management
One of the most sought-after and lucrative MBA specializations, the goal of an MBA in strategic management is to attract those who want to lead growth and development in fast-paced businesses. Candidates who pursue an MBA in Strategic Management have the knowledge to assist businesses in managing complex transactions and strategic acquisitions.
This specialization offers insight into how successful business decisions are made; you'll learn about business development, consulting, risk management, and planning—skills applicable across industries.
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Popular Job Profiles |
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Average Annual Salary |
$98,000 or INR 8,142,820 |
6. MBA in Operations Management
Operations management is concerned with planning, organizing, and supervising the design, development, and delivery of products and services. MBA in operations management is also one of the most demanding specializations in MBA. It provides conceptual frameworks and analytical tools to optimize key decisions in designing and managing operational processes. Students can explore various operations topics such as demand management and price optimization, supply chain management, risk analytics, operations strategy, service management, etc. If you're interested in these areas, consider this specialization.
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Popular Job Profiles |
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Average Annual Salary |
$111,000 or INR 9,222,990 |
7. MBA in Entrepreneurship
In recent times, India has been recognized as the entrepreneurial hub of the world, where opting for a degree like an MBA in Entrepreneurship has become exceedingly demanding among young enthusiasts. The program is designed to provide students with relevant knowledge, harness skills, develop out of box business ideas, design a commercial venture, and successfully maintain networks that are needed for company expansion. The course teaches the core technical and pragmatic aspects of becoming a successful entrepreneur.
Need help getting your startup off the ground? Consider a specialized MBA in Entrepreneurship, which offers critical management and business development experience as well as the skills entrepreneurs will need to pitch ideas and secure funding.
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Popular Job Profiles |
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Average Annual Salary |
$104,000 or INR 8,641,360 |
These were some of the most demanded MBA specializations in the world. There are various other MBA fields in demand that you can explore. Find the one that you enjoy and are interested in.
Suggested: Know more about types of MBA specializations abroad
Which MBA Specialization is Best in Future?
In 2024, business analytics, digital marketing and finance are the top 3 specialization to have the most scope in future.
How to Choose MBA Specializations?
It is very important to choose a specialization you feel you are suitable for and that holds your interest, but since there are so many amazing options when it comes to choosing a specialization, choosing only one out of so many can be confusing. And that's why we've given a few points below that you can take into consideration before choosing your specialization.
If you cannot make up your mind as to which specialization to choose, here are the following points that you can focus on
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Identify Your Strengths
The first and most important point on the list is definitely looking within yourself to determine your key strengths and areas of excellence. Understand and analyze what you like and are good at, and combine it with your interests and long-term career aspirations to get a clear understanding of which specialization to choose. It will be much easier to choose a specialization once you have a clear notion of what you want out of life and what you hope to achieve with an MBA.
The goal is to choose a stream that will help you develop as a professional while also ensuring your long-term employability and relevance in a rapidly changing industry.
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Evaluate The salary Packages
Before enrolling in the program, examine the institution's offerings, placement partners, rankings and the average compensation package provided. Find out what the minimum and maximum placement packages were in the previous year (for different specializations). This will give you a good indication of what to expect after the course is finished. But also keep in mind that, though important, salary should not be the only factor that you should consider.
Suggested: An overview of jobs and salary after MBA abroad
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Number Of Companies
Find out how many employers come to your college for placements in a specific field. If there are more firms visiting for a specific specialization, the chances of finding work in that specialization are also greater. Do your research well in advance.
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Analyze The Subjects
Before opting for any specialization, deeply analyze the contents covered in each specialization. This will help you choose the right specialization and develop specific skills. Check if the topic interests you and if you see yourself working in the same field.
From the Desk of Yocket
Given that the modern industry is pro-digitization and data-centric, it makes sense to select streams that are most relevant in the current environment. However, each specialization has its own set of advantages. Choose a specialization based on your interests and skills, and know that whatever specialization you choose, you will need to put in a lot of effort to excel and achieve in your profession and as a company leader.
We hope that this blog was able to provide you with all the necessary insight on some of the most in demand MBA specializations. For more details about studying abroad, book a free consultation with Yocket counselors today!