MBA degrees are considered the pinnacle of graduate education. Completing this prestigious degree is attributed to several factors, including the rigor and expectations of the program, strict entry requirements, and enhanced career opportunities. MBA specializations, also widely known as MBA concentrations, are a means of boosting your core MBA education and preparing you for a career path that interests you. As there are different types of MBA specialization, choosing a right MBA specialization will allow you to make the most of your career. So, keep reading as this blog will enlighten you on all possible types of specialization in MBA, and a lot more!
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An Overview of MBA Specializations and Careers
Graduates from the world's top B-Schools are not limited to traditional career paths within the business industry. Almost any field can benefit from your MBA degree abroad, be it education, nonprofits, hotels/services, healthcare, and so forth. There is no reason for you to feel that your MBA specialization locks you into a single career path. With so many types of MBA specialization, careers can take many different directions regardless of what you study or where you begin.
- The current university education tends to keep up with the times by offering students a robust business program compatible with today's job market.
- A number of fields are experiencing increasing popularity, for instance, Healthcare Management, Human Resources, Information Systems, and Cybersecurity.
- Other popular specializations include Strategy and International Management.
- In particular, if you wish to be a CEO, CFO, or COO, an Executive MBA program might be right for you.
Suggested: What is the Difference between an MBA and Executive MBA?
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Different Types Of MBA Specialization
Given below is the detailed information about some of the most popular types of specialization in MBA, and some of the highest paying MBA specializations, including information of curriculum, career options, annual salary packages, skills required, and top countries:
- MBA in General Management
- MBA in Finance
- MBA in Marketing/ Marketing Analytics
- MBA in Strategy/ Strategic Management
- MBA in Entrepreneurship
Let us now move on to know about these types of fields in MBA briefly:
MBA in General Management
The general management specialization is considered to be the most common and popular MBA abroad choice. Most candidates choose this major if they are seeking to gain a holistic understanding of management principles. It provides students with the ability to apply for leadership positions in a variety of industries. Throughout the program, students learn about the pillars of management and courses in marketing, strategy, consulting practices, and business development to improve their managerial abilities.
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Skills Required |
Excellent communication skills Effective leadership skills Problem-solving abilities Good subject matter expertise |
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Career Options |
Marketing Human Resource Research & Business analyst Finance Operations |
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Top Countries |
Australia US Canada UK Germany |
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Average Salary Offered (in INR) |
INR 2 LPA to INR 24 LPA |
Check Out: Cost of Studying MBA in UK for International Students
MBA in Finance
MBA in Finance is undoubtedly one of the most popular types of specializations in MBA. Students looking to break into the finance industry, get employment at top banks, hedge funds, and asset management firms, often pursue an MBA in Finance. As a quantitative specialization, candidates for this degree need to be proficient in numerical skills. Further, the finance industry is notorious for its intense competition and long working hours.
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Skills Required |
Ability to lead Data analysis and interpretation Logical reasoning Innovative |
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Career Options |
Cash Manager Credit Manager Corporate Controller Financial Analyst Investment Banking Associate |
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Top Countries |
Italy US Canada UK Germany |
|
Average Salary Offered (in INR) |
INR 2 LPA to INR 14 LPA |
Suggested: What is the Salary of MBA in USA?
MBA in Marketing/Marketing Analytics
Academic disciplines such as marketing have a long history, and they are integral to any business process. Marketing services are needed across all industries, whether in finance or healthcare. Students who pursue an MBA with a marketing concentration will be better prepared to understand consumer behavior, market trends, product performance, market share, and competitor analysis. Out of all the different types of MBA specialization, marketing is quite popular.
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Skills Required |
Great communication skills Leadership qualities Technology expertise Strategic thinking Imaginative |
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Career Options |
Asset Manager Brand Manager Corporate Communications Head Customer Relationship Management Channel Head |
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Top Countries |
Australia Canada UK Ireland US |
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Average Salary Offered (in INR) |
Up to INR 20.43 LPA |
Suggested: MBA in London for International Students
MBA in Strategy/ Strategic Management
It is among the most sought after and lucrative types of specialization in MBA. The objective of this program is to attract individuals who aim to spearhead growth and development in dynamic companies. By specializing in an MBA Strategic Management, candidates gain the knowledge to aid companies in navigating complex deals and calculated acquisitions.
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Skills Required |
Expertise in statistics and mathematics Decision-making skills Fluency in communication Knowledge of financial structures Analytical abilities |
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Career Options |
Senior Strategic Manager Operations Manager Senior Product Manager Investment Fund Manager Management Analyst |
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Top Countries |
USA Germany UK Singapore France |
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Average Salary Offered (in INR) |
INR 5 LPA to INR 10 LPA |
Recommended: A Sample Professional LOR for MBA Abroad
MBA In Entrepreneurship
Entrepreneur-minded students interested in turning their ideas into viable enterprises pursue an MBA in Entrepreneurship among the different types of fields in MBA. It is among the types of MBA specialization beneficial to family-run businesses, corporate entrepreneurs, and individuals who own businesses. Besides acquiring valuable knowledge about management principles and entrepreneurial skills, students also learn important subject matter relevant to entrepreneurs, such as negotiation, innovation, strategic partnerships, venture implementation, entrepreneurial marketing, etc.
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Skills Required |
Innate assertiveness Good communication Negotiation skills Effective decision-making Ability to create business strategies |
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Career Options |
Business Consultant Corporate Supervisor Department Manager Sales Manager New Venture Developer |
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Top Countries |
USA Singapore UK Spain Germany |
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Average Salary Offered (in INR) |
INR 5 LPA to INR 20 LPA |
Suggested: How to Draft an SOP for MBA Abroad?
Choosing from so many types of specializations in MBA can be a tedious task, but if you have the required skills you can quite easily connect with the right kind of MBA meant for you. Any type of MBA which you are interested in, is suitable for you. Moreover, every type of MBA specialization will offer you with an extremely high ROI. You can even connect with our Yocket Counselors for more information on the different types of MBA specializations.
