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Best MBA Specialization and how to choose one

Best MBA Specialization and how to choose one

An MBA degree advances a person’s career in the field of business management by several notches. Earning an MBA in the desired field gives you a competitive advantage by providing the most recent skill, training, and knowledge of the area that your peers may not have, resulting in better career growth and opportunities.

Some interesting facts about MBA Specializations:

  1. An MBA is a broad degree that covers the fundamentals of general management, but there are numerous specializations.
  2. There are over 30 MBA specializations being offered by management institutes in India. 
  3. Traditional electives such as marketing, finance, HR, and operations are among the popular courses. However, they provide the safest career options too.
  4. As time and technology pass, business requirements change. Business schools and students are gravitating toward emerging MBA specializations like Business Analytics, Digital Marketing, Global MBA, and so on.
  5. 79% of MBA graduates go on to work for established companies.
  6. Earning an MBA is typically regarded as a step forward toward a person’s career.
  7. MBA graduates are more likely to succeed as entrepreneurs than non-MBA graduates.
  8. MBA degrees in specialized fields such as healthcare management, communications management, innovation, hospitality, and tourism are also in high demand.

What does MBA specialization mean?

A company or organization has a wide range of functions and departments. The MBA degree allows the students to choose a specific department and specialize in it so that they can get an in-depth know-how of the elective. These electives in general terms are called MBA Specialization.

Different MBA specializations

Here is the list of different MBA specializations:

  1. Finance
  2. Marketing
  3. Human Resource
  4. Operation
  5. Information Technology
  6. Entrepreneurship
  7. Health care
  8. Hospital
  9. Retail
  10. International Business
  11. Corporate social responsibility
  12. Digital Marketing
  13. Business Analytics
  14. Strategy Management
  15. Risk Management

1. MBA in Finance

MBA in finance is one of the most popular specializations due to the immense growth opportunities. Every organization requires a good finance manager in order to keep the updated financial health. Therefore, it is one of the relevant specializations.

If you love to play with numbers then this specialization can bring miracles in your career life. Any graduate in Commerce, Humanities, or Science, or have done CA/CS/ICWA/Engineering who wants to move ahead in management can opt for the MBA in finance.

Career Opportunities:
  1. Financial Advisor
  2. Financial Analyst
  3. Finance Manager
  4. Senior Business Analyst
  5. Senior Finance Analyst 
  6. Credit Risk Manager
  7. Portfolio Manager
Top Colleges for MBA in finance In India
  1. IIM Ahemdabad
  2. IIM Calcutta
  3. Xavier School of Management, Jamshedpur
  4. IIM, Lucknow
  5. NMIMS, Mumbai
Top MBA finance recruiters
  1. Morgan & Stanley
  2. Deloitte
  3. BCG (Boston Consulting)
  4. KPMG
  5. Goldman Sachs

Salary

MBA in finance salary varies from 2.00 lakhs to 22.00 lakhs. Therefore, the MBA in finance is among the well-paid jobs with a lot of career opportunities.

2. MBA in Marketing

Just like MBA in Finance, MBA in Marketing offers you lucrative job opportunities. It is a field that requires creative skill and share knowledge of marketing, advertising, and public relations. Marketing specialist is required for every sales and service industry as they are the one who becomes the bridge between the producers and consumers.

If you love to explore the market and have creativeness then this field is for you. Any graduate in science, commerce, or arts can join MBA in marketing.

Career Opportunities
  1. Sales Executive
  2. Marketing Manager
  3. Advertising Manager
  4. Market Research
  5. Analyst
  6. Sales Manager
Top colleges offering MBA in Marketing
  1. IIM, Bangalore
  2. IIM, Calcutta
  3. SPJIMR, Mumbai
  4. NMIMS, Mumbai
  5. IMT CDL, Ghaziabad
Top MBA in marketing Recruiters
  1. ITC
  2. Flipkart
  3. Amazon
  4. JP Morgan
  5. FMCG companies

Salary

MBA in marketing can get a salary of up to 5 LPA as a fresher whereas it can rise to 20 LPA with career advancement.

3. MBA in Human Resource

Hiring new employees and training them for maximum business benefit is one of an organization’s most important processes. An MBA with a specialization in Human Resource Management teaches students about workforce management, compensation strategies, performance evaluation, and much more.

If you are interested in handling the issues related to humans and critical thinking that can help in managing core human resources-related challenges. Then, you can opt for this course.

Career opportunities
  1. Recruiters
  2. Trainer
  3. HR manager
  4. Regional HR Manager
  5. HR Head
Top MBA in HR colleges in India
  1. Tata Institute of Social Sciences (TISS) Mumbai
  2. XLRI, Jamshedpur
  3. IIM, Ranchi
  4. MDI, Gurgaon
  5. NMIMS, Mumbai
Top MBA in Human Resource Recruiters
  1. Reliance
  2. Tata
  3. Accenture
  4. Wipro
  5. IBM

Salary of MBA in HR

The fresher in HR can get 2.5 LPA which can rise to 10 LPA with an experience of 5 – 6 years.

4. MBA in Operations

One of the fundamental pillars of any business is operations. Candidates who want to run a business efficiently and effectively should pursue an MBA with a specialization in Operations. You will learn about various strategies for managing and organizing businesses to maximize output.

The course is best suited for the candidate who handles most of the operation work in the company. This course will help in the best utilization of the resources and optimal output.

Career opportunities
  1. Logistics and supply chain manager
  2. Operation manager
  3. Warehouse Manager
  4. Logistic consultant
  5. Inventory coordinator
Top MBA in Operation colleges in India
  1. Sloan School of Management
  2. Ohio State University 
  3. IIM, Lucknow
  4. IIM, Calcutta
  5. Stanford Graduate School of Business
Top Recruiter of MBA in Operation in India
  1. Amazon
  2. Accenture
  3. L&T
  4. Wipro
  5. McKinsey & Company

Salary

MBA in Operations gets up to 5 LPA as fresher that can rise to 18.50 LPA with career advancement and promotions.

5. MBA in Information Technology

With technological advancement and digitalization, the MBA in IT is gaining popularity. MBA in IT provides future IT managers with knowledge and skills, as well as an understanding of various aspects of a project such as a project planning, design, selection, implementation, use, and administration of emerging and converging information and communications technologies.

If you are a technology lover and want to make your career in IT industries then this course is just for you. The technical skills you gain during the course will help you in handling the IT personnel more easily.

Career Opportunities
  1. Business Intelligence Analyst
  2. Chief Technology Officer 
  3. SAP Consultant
  4. IT Director
  5. Quality Assurance Analyst
  6. Cyber security consultant
Top MBA in IT Colleges in India
  1. IIT, Kharagpur
  2. IIM, Kozhikode
  3. IIM, Raipur
  4. IIT, Madras
  5. NMIMS, Mumbai
Top Recruiter of MBA in IT
  1. TCS
  2. Amazon
  3. Reliance
  4. Google
  5. IBM

6. MBA in Enterprenuership

The MBA in Entrepreneurship is intended for those who want to be successful entrepreneurs. To ensure a company’s ongoing development, organizations now hire specialists for managerial positions who can effectively manage operations and lead the organization. This program is centered on business strategies that lead to innovation.

If you are interested in new ventures or the start of your own business then this course is right for you. This course will let you understand the rules, regulations, and policies for a new venture or a start-up.

Career Opportunities
  1. Business Reporters
  2. New Venture Developers
  3. Business Consultants
Top MBA in Entrepreneurship Colleges
  1. XLRI, Jamshedpur
  2. UPES- Dehradun
  3. MIT School of Management, Pune
  4. IIM, Lucknow
  5. Symbiosis International, Pune
Top Recruiters of MBA in Entrepreneurship
  1. Amazon
  2. Apple
  3. BCG
  4. JP Morgan
  5. Deloitte

7. MBA in HealthCare

It is a well-known course that focuses on the most important issues in preventive healthcare, pharmaceutical management, treatment, and hospital administration. It also covers the health insurance niche and offers better career opportunities. According to the Bureau of Labor Statistics (BLS), this career will grow by 32% between 2020 and 2030.

This course is for students who are strategic thinkers and natural leaders. Through the lens of healthcare, the degree examines critical aspects such as business ethics, accounting, law, leadership, marketing, and budgeting.

Career Opportunities
  1. Medical Health Services Manager
  2. Nursing Home Administrator
  3. Healthcare Consultant
  4. Administrative Services Manager
  5. Healthcare Administrator
Top MBA in Healthcare colleges in India
  1. NMIMS, Mumbai
  2. K J Somaiya Institute of Management Studies & Research, Mumbai
  3. IIM, Ahemdabad
  4. IIM, Bangalore
  5. Nirma University, Ahmedabad
Top Recruiters of MBA in Healthcare
  1. Fortis
  2. Max
  3. Omega Healthcare Management
  4. Aditya Birla
  5. Ranbaxy

8. MBA in International Business

MBA in International Business lets you get into the global business world. It Is higher in demand as most MNCs are looking for graduates who are willing to work globally. So, if you want to be a part of the global business then this MBA can help you in learning the techniques and rules that are used in global business.

Career Opportunities
  1. Export-Import Manager
  2. Interantional Operation Manager
  3. International Finance Manager.
  4. Administrative Service Manager.
  5. Marketing Analyst
  6. Export Coordinator
Top MBA in International Business Colleges
  1. Indian Institute of Foreign Trade (IIFT), Delhi
  2. IIM Calcutta
  3. IIM Lucknow
  4. K J Somaiya Institute of Management Studies & Research, Mumbai
  5. Symbiosis Institute of International Business (SIIB), Pune
Top Recruiters of MBA in International Business
  1. Amazon
  2. Citibank
  3. Wipro
  4. HCL
  5. Tata

9. MBA in Rural Management

The MBA in Rural Management applies management theories and practices using a modified procedure designed for rural areas with high future growth potential. Soon, more than half of India’s marketing, finance, and human resources management programs will call for increasingly qualified professionals with an MBA in rural management degrees.

You should pursue an MBA-RM if you’re interested in understanding and managing rural markets that are primarily dominated by agriculture and related products made from locally accessible raw materials.

Career Opportunities
  1. Rural Development Officer
  2. Rural Executive
  3. Senior Program Officer
  4. Trainer
  5. Rural Manager
  6. Research Consultant
  7. Purchase Development Manager
  8. Sales Officer
Top MBA in rural management colleges in India
  1. Japuria Institute of Management, Noida
  2. Institute of Rural Management, Anand
  3. Welingkar School of Management, Mumbai
  4. Xavier School of Rural Management, Bhubneshwar
  5. Faculty of Management Studies, Delhi
Top recruiters of MBA in Rural Management
  1. Godrej Agrovet
  2. TATA
  3. Ninjacart
  4. Microsoft
  5. Amazon

10. MBA in Business Analytics

Business analysts make data-driven recommendations to help bridge the information technology-business divide. This involves a solid understanding of business as well as data, statistics, and computer science. Those with strong analytical skills, command of statistical techniques and information system software, and a keen interest in expanding their understanding of this emerging management field should enroll in this program.

Career Opportunities

  1. Business Analyst
  2. Financial Analyst
  3. Personal Financial Advisor
  4. Operations Analyst
  5. Supply Chain Analyst
  6. Management Consultant

Top MBA in Business Analytics colleges in India

  1. IIM Bangalore
  2. IIM Calcutta
  3. Great lakes Institute of Management Chennai
  4. IIM Lucknow
  5. NMIMS, Mumbai

Top Recruiters of MBA in Business Analytics

  1. Accenture
  2. HCL
  3. KPMG
  4. Google
  5. Deloitte
  6. Amazon

11. MBA in Digital Marketing

With the movement to digitalization, traditional marketing is also changing its pace of digitalization. In this era of digitalization, the MBA in digital marketing is finding a prominent place in management. From big companies like Apple and Nike to the general stores near your area, everyone uses digital platforms in one way or the other. This has enhanced the demand for digital marketing professionals.

If you are interested in marketing and want to have an in-depth knowledge of marketing with creativity then you should go for this MBA.

Career opportunities
  1. Product management.
  2. Industrial marketing management.
  3. Sales management.
  4. Marketing research.
  5. Head of digital marketing.
  6. Media planner.
Top MBA in Digital Marketing colleges in India
  1. IMT Ghaziabad.
  2. Indian Institute of Digital Education, Mumbai, Maharashtra.
  3. Amity University, Noida.
  4. IBS Hyderabad
  5. SP JIMR, Mumbai
Top Recruiter of MBA in Digital Marketing
  1. Accenture
  2. Cognizant
  3. Amazon
  4. Flipkart
  5. Google
  6. IBM

Salary of MBA in Digital Marketing

Digital Marketing Manager salaries in India range from 3.0 Lakhs to 18.0 Lakhs per year, with an average annual salary of 6.4 Lakhs. The aspirant can advance to the digital marketing head after having appropriate experience and skill set.

12. MBA in Risk Management

Risk is inevitable in any business. With the business going online hte risk has increased very much. Cybercrime, online fraud, market instability, Liabilities, etc. forms the major part of the risk. A professional in risk management can handle all these situations carefully and help the business grow despite such situations. Hence, risk management or fraud management deals with the management of uncertainty.

If you have good observational skills along with a good problem-solving approach then you can excel in this course and move far in your career.

Career opportunities

  1. Risk Management Consultant
  2. Risk Manager
  3. Senior Risk Manager
  4. Strategy Manager

Top MBA in Risk Management colleges in India

  1. MIT School of Management, Pune
  2. Banaras Hindu University
  3. GITAM Institute of Management, Visahakpatnam
  4. International School of Business and Media, Pune

Top Recruiters of MBA in Risk Management

  1. LIC
  2. HDFC
  3. ICICI
  4. Microsoft
  5. Google
  6. Dell
  7. Deloitte

Salary of MBA in Risk Management

A risk manager receives an annual package between 3.00 lakhs to 24.00 lakhs.

13. MBA in Strategy Management

The Strategic Management major gives students a solid foundation in the fundamental logic of competitive advantage, based on a careful analytical treatment of individual firms’ distinct qualities and positions, as well as an understanding of broader competitive dynamics.

Career opportunities

  1. Chief operating officer (COO).
  2. Strategy Consultant.
  3. Director of Strategy.
  4. Strategy Manager.
  5. Innovation Consultant.

Top MBA colleges in India offering MBA in Strategy

  1. Christ University, Bangalore.
  2. Ajeenkya DY Patil University, Pune
  3. IIM, Kolkata.
  4. XLRI, Jamshedpur.
  5. Nirma University, Ahemdabad.

Top Recruiters of MBA in Strategy

  1. Amazon
  2. Apple
  3. BCG
  4. Deloitte
  5. Morgan Stanley
  6. Microsoft

14. MBA in Agri-Business 

IIMs have recently added a full-time MBA in Agri-Business to their MBA programs. A career in Agri-Business allows you to work in a variety of industries such as farming, retail marketing, real estate, and food processing. Agribusiness employs a large number of people worldwide.

MBA Agri Business candidates should have a background in agriculture, food engineering/technology, Agri engineering, a graduate degree in agriculture science, or biotechnology. Those interested in agriculture and related business activities can also pursue this MBA specialization course with high growth potential.

Career opportunities
  1. Agri Officer
  2. Tactical Administration
  3. Operation Manager
  4. Agri-Business Manager
  5. Team Lead
Top MBA in Agriculture colleges in India
  1. IIM Ahemdabad
  2. IIM Lucknow
  3. Amity University, Noida.
  4. Symbiosis Institute of International Business, Pune
  5. Parul University, Vadodara
Top Recruiter of MBA in Agri-business
  1. ITC
  2. HUL
  3. Nestle
  4. Parle Agro
  5. TATA
  6. Reliance

How to choose the right MBA for your bright future?

There is an MBA specialization available for nearly every industry. Choosing one out of many becomes overwhelming as a result. Each has its own set of advantages, but you must choose one based on your interests and skills, as well as your future career prospects. While traditional two-year MBA programs are very popular, short-term PGDM programs have grown in popularity because they provide more exposure to real-world business situations.

The traditional MBA courses in finance, Marketing, Human Resources, and operations are considered the best course as they are forever demanding courses and has never ending career opportunities. Whereas the trending courses such as digital marketing, business analytics, data science, information technology, and rural management have good scope and will help you in getting good jobs in the near future.

It all depends on the academic background of the candidate, the interest of the candidate, and the demand of the elective or the trend which MBA you opt for.

Frequently Asked Questions

1. Which MBAs offer lucrative salaries?

The top three MBAs who are paid the highest salary in India are:

MBA in Finance, MBA in Business Analytics, and MBA in Entrepreneurship

2. How do I choose the best MBA specialization?

The following things must be considered before choosing any specialization:

  1. Your strengths and potential
  2. Salary offered and the scope of elective
  3. Number of companies recruiting for the particular specialization
  4. Topics or subjects covered in the specialization.
  5. Current trend and prospects of the elective

3. Which MBA is the toughest to learn?

MBA in operation is the toughest specialization to learn. It is the most demanding specialization with well paid jobs.

4. Can I get a job right after completing my MBA? 

Yes, after completing the MBA degree course you can apply for the different job profiles based on the specialization you selected. However, if you pursue an EMBA program there are chances of promotion and career growth.

5. Which MBA Specializations are trending?

Some of the trending MBA specializations are:

  1. Digital Marketing 
  2. Luxury Brand Management 
  3. Logistics 
  4. Supply Chain Management 
  5. Financial Management 
  6. Construction Management 
  7. Artificial Intelligence

College compare helps you in understanding the various prospects of management studies. If you are an aspirant looking for the best MBA in India then this is the right place to look for your preferences.

we wish you all the best for your bright future!

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