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MBA: The Why, The Whats & The Hows

Different Types of MBA Specialization to Study Abroad

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Yocket Editorial Team
5 mins read
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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! 

  Table of Contents 

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? 

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:

  1. MBA in General Management 
  2. MBA in Finance 
  3. MBA in Marketing/ Marketing Analytics 
  4. MBA in Strategy/ Strategic Management 
  5. 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.

Skills Required 

  • Excellent communication skills
  • Effective leadership skills
  • Problem-solving abilities
  • Good subject matter expertise

Career Options 

  • Marketing
  • Human Resource
  • Research & Business analyst
  • Finance
  • Operations

Top Countries 

  • Australia
  • US
  • Canada
  • UK
  • Germany

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.

Skills Required 

  • Ability to lead
  • Data analysis and interpretation
  • Logical reasoning
  • Innovative

Career Options 

  • Cash Manager
  • Credit Manager
  • Corporate Controller
  • Financial Analyst
  • Investment Banking Associate

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. 

Skills Required 

  • Great communication skills
  • Leadership qualities
  • Technology expertise
  • Strategic thinking 
  • Imaginative

Career Options 

  • Asset Manager
  • Brand Manager
  • Corporate Communications Head
  • Customer Relationship Management
  • Channel Head

Top Countries 

  • Australia
  • Canada
  • UK
  • Ireland
  • US

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.

Skills Required 

  • Expertise in statistics and mathematics
  • Decision-making skills
  • Fluency in communication
  • Knowledge of financial structures
  • Analytical abilities

Career Options 

  • Senior Strategic Manager
  • Operations Manager
  • Senior Product Manager
  • Investment Fund Manager
  • Management Analyst

Top Countries 

  • USA
  • Germany
  • UK
  • Singapore
  • France

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.

Skills Required 

  • Innate assertiveness
  • Good communication
  • Negotiation skills
  • Effective decision-making
  • Ability to create business strategies

Career Options 

  • Business Consultant
  • Corporate Supervisor
  • Department Manager
  • Sales Manager
  • New Venture Developer

Top Countries 

  • USA
  • Singapore
  • UK
  • Spain
  • Germany

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. 

Frequently Asked Questions about Types of MBA Specializations 

Ques. What are the highest paying MBA specializations?

Ans. Here are some of the best paying MBA specializations: 

  • Finance
  • Marketing
  • International Business
  • Information Technology
  • Information Security
  • Human Resources
  • Healthcare Management
  • Real Estate

Ques. How do you choose among the different types of MBA specialization?

Ans. While researching different types of MBA specialisations, you should ask yourself the following questions:

  • Which types of specializations in MBA appeal to me personally?
  • What career would I like to pursue?
  • Which MBA specializations are in high demand right now?
  • Is this likely to affect the duration of my MBA?

Ques What types of MBA specialisation are in demand?

Ans. Across all industries, finance, marketing, and human resource management are the most common MBA specializations.

Ques Is MBA a difficult course to study?

Ans. An MBA can be challenging, but it is not difficult to graduate. An MBA is often viewed as too difficult for the average student. The answer is "probably not". However, as you will clearly discover during your MBA program, your attitude contributes to over 50% of your professional success.

Ques Is there a part-time MBA program online?

Ans. Certainly, there is a part-time MBA program available online. Part-time MBA programs differ in their structure, but they are designed to meet the needs of students working while earning their degree or having other commitments outside of school.

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