Four steps guide to Choosing right MBA Specialization.

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Education Plays a vital role in achieving one’s personal, social & professional goals and reach the height of success  you want in your life. We all are aware that MBA programmes have grown in popularity along with the stellar economic growth of the past 20 years. The media and many have also shaped the minds of youngsters , with the news of students getting hefty packages from reputed companies making regular headline during MBA placement seasons.
Once you have decided on pursuing an education in Management , there are four crucial areas which would need your attention.

The most common post graduate degrees in Management are the Masters in Business Administration (MBA), Master of science (MSc/MS) with specialisation in management, Masters in Management (MIM), and Master of Arts (MA) in Management. Your choice of the type of course completely depends on why you want to pursue your master in the first place. From a career point of view, the MBA beats the rest in terms of acquisition of business management skills, as a MBA course tends to be more practical and business -oriented (and is meant for those with some experience in a professional organisation) as compared a more theoretical setting for the rest of the degrees in management , which are for those who have recently finished their undergraduate studies and want to enhance their knowledge on a deeper and more scientific level.

A MBA is also much more expensive in most cases as compared to a Masters in Management or other PG degrees in Management. However non-MBA degree courses in Management do not have same level of prestige and industry -wide reputation as does a MBA.how to choose mba specialization/ which field is best in mba/ best mba courses in demand/ best mba specialization for future/ best mba specialization for future

Now questions comes which specialisation in MBA you should consider to get most of it. This is most important question that lies in the mind of any MBA aspirant – what subject/subject should one specialise in during the MBA. In the first year of the course, students are exposed to various subjects of management,while in the second year they are asked to decide on which subject/subjects they should specialise in. By the end of the first year the choice of specialisation should be come pretty clear to student.

Choosing a specialisation is not easy for any student and it’s very important for you to consider your career goals and professional development aims before choosing a specialisation. Finance, Marketing,Human Resources, Business Analytics, International business, Rural management and information Technology are some of the preferred areas of specialisation ,with Finance -Marketing being the most preferred dual specialisation.

The common street talk dictate that Marketing is for those who can talk very well,Finance is are for those who are good with numbers, Operations is for those with a manufacturing background, HR is for those who are bad at maths, or are non engineers, and IT is preferred by those with an IT background. This is totally baseless, as taking us a specialisation completely depends upon what you like, and not what you can do.

One must also understand that an MBA is not restricted to just the common formal disciplines above. With a growing economy, India has a range of sectors and disciplines in which professionals with a MBA specialisation are valued and sought. It is now possible to specialise in Energy, Insurance, Analytics/Business intelligence, entrepreneurship, Sports Management, Events Management, Telecom Management, Rural Management, Retail Management, Media and Entertainment, Health-care, Tourism, Pharmaceutical management and even in Family managed business(institute like NMIMS and SPJIMR offer this specialisation)

Specialisation should be chosen very carefully,based on one’s interest of area, passion, and capability, and not on the basis of peer pressure, job prospects,high salary, market condition or social reputation. Ask honestly yourself the following questions:

  • Do you understand the subject very well, i.e.are you aware of the future prospects and the kind of job opportunities present in the industry you are aiming to enter? Knowing your subject of interest is good, but knowing what the available job opportunities are is equal important.
  • Do you prefer positions that offer a fast-paced life,but less remuneration to back it up,at least at the initial stage of your career,or do you prefer position/industries that are good pay-masters while offering roles that do not involve much physical excitement? Does the role involve longer work hours with longer holidays in between,or does it involve regular work hours? Does money matter to you more than ethics? Answer to there questions will decide help you decide your specialisation.

If you are still not sure of your specilisation,the elimination method is often good way to arrive at what fits best. Start by eliminating your options, based on your requirements, interest,and research. Narrow down your options before making a judicious choice. However, it is pertinent to understand that specialisation do not matter in the long run! In any role in a company, what matter is performance. As you grow in a company,you have to broaden your perspective and knowing how different parts of the business interplay.

We hope this  helps you gain some clarity on some of vital aspects of the admissions process. Best of luck.

how to choose mba specialization/ which field is best in mba/ best mba courses in demand/ best mba specialization for future/ best mba specialization for future

 

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