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18.2.15

 

For most B-school candidates selecting a specialization is a Herculean Task. It is so because your career is dependent on the specialization you pick during MBA. Moreover, you need to find out the latest trends, market dynamics and future industry demands based on which you can opt for a specialization.

According to MJ Xavier, director, IIM Ranchi, “There are three things that one has to take into consideration while deciding on the area of specialisation. First, you should examine your aptitude, interest in a desk job, liking for travel and whether you like interacting with people. Then, look at market opportunities. Currently, there are opportunities in finance, marketing, human resources, business analytics, media management, health management and hospitality management. One should also examine the educational background and experience and then find a match between them.”

Most of the B-schools give their students significant time to think about MBA specialization and that’s why you have to select your specialization in the second year. Mr Xavier also cautioned that you need to select your specialization depending on your academic interest and professional experience.

If you have a degree in BSc Microbiology or in medicine with interests in social work, you should probably specialise in public health or health management. If you are an engineer with a couple of years of experience in a consulting firm, with interests in a desk job, you should get into finance or business analytics.

Conventional areas such as finance and HR are no longer the most sought after popular choices in today’s constantly changing market. It’s IT, operations, marketing and consultancy that are climbing the popularity ladder. Also, the specialisations are not limited to marketing, human resources, finance, IT/systems and operations management. Now there are more options available such as entrepreneurship, rural development, sports management, hospital management, and brand management, giving more variety to students.

One more aspect that you should know before you decide your MBA specialization is to know about the kind of job opportunities available in the market and whether the particular area will interest you in the next few years. Another suggestion is to understand your priorities well in different specializations as industries and organisations have different ways of acknowledging the efforts of their employees.

While some industry may offer good appraisals and decent salary hike at a higher level, others may offer a lucrative pay package at a lower position.

Other aspects such as whether the company believes in flexible work hours, allows you to work on other domains and gives you the opportunity to innovate are equally important before you decide your specialization.

Out of these above mentioned MBA specialization areas there are a few areas that are evolving and very popular among students are hospital management, communication and entrepreneurship. The success story of B-school candidates who declined lucrative job offer and took up to run their own show has inspired many students and more and more candidates are enrolling for these options.

MBA is the latest trend in the education industry. Today, almost every MBA program offers a wide variety of courses and specializations to choose from. In fact, this part of education has swept almost every sector and industry. From MBA in business management to MBA in Healthcare Management, every small or big field today requires management skills catering to the demand of modern day business dynamics.

 

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2 responses to “Current Trends While Selecting MBA Specialization”

  1. MBA on EMI says:

    […] situation in the best possible way. As a result of which MBA in leadership has become one of the popular specializations of MBA programs. Not only does this program help you to clarify your vision it also helps you to increase your […]

  2. MBA on EMI says:

    […] records and area of interest into account while selecting a B-school. Create a list of your target and programs in-demand that you might want to apply to. Then, explore each school’s website to determine which programs […]

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