Factors to consider when choosing your MBA specialization

 

When MBAs choose a specialization, or concentration, students are not always aware of all areas in which they may specialize or obtain positions they may adopt in that specialization. Many students go for what they believe are safe routes and stick to try-and-true fields such as accounting, management, finance and marketing. While these areas are certainly great calling, they are others that can offer enthusiasm, fulfillment and upward career mobility for an MBA student and graduate.

Factors to consider when choosing your MBA specialization
There may be a number of factors that influence your decision about the area in which you market your preference (job availability) based on your preference, your area of ​​interest, preferred job profile and You can choose the area according to the compensation package.

There are a few more factors that help individuals make decisions easily and get on the road to earning a specialized MBA that pays off in the long run. Here are some things to consider:

Ranking of schools

Personnel interest

Program length

Personal power

Career goal

After considering the above factors, start researching MBA programs and specialization. While new fields are being created, most schools have several standard specializations. See notable programs with a list of specialties that interest you. Most universities will include a list of their MBA specialization, or concentrations, on their websites. Ask for information from schools that interest you. In some cases, you can ask to meet professors who teach your specialization of interest, who can help you in your decision to choose a certain field or university. If you are currently enrolled, schedule an appointment with your university department or program advisor. Your advisor may be able to provide some insight on your options based on your strengths and weaknesses.

MBA in Finance:

Finance is one of the most popular MBA specializations. This course is well suited for individuals who are calculative, intelligent, good at math and able to work around funding.

This ensures excellent career development and a handsome salary package. Finance is all about numbers, accounting standards, logical analysis, investment decisions, profitability, business acumen, corporate finance and strategies.

 

MBA in HR:

If you are a person with social skills, effective communication skills and listening skills, then MBA in HR is an ideal specialization for you. In particular, if you like resolving conflicts and finds yourself extremely patient then you can definitely make it big in this specialization.

HR emerged as one of the major functionalities in an organization. The objective of specialization is to provide insight into principles, practices, policies, and training methods - all linked to human behavior in an organization.

 

MBA in Marketing:

If your area of ​​interest lies in market research or consumer goods, consumer durables advertising, sales or distribution or you want to work in IT sales, media, marketing of various services, internet marketing, MBA in marketing will give you the required exposure in these various fields.

 

MBA in IT:

This expertise will help you manage e-commerce efficiently so that you can get an understanding of the various changes happening in a competitive business environment. You are gaining technical knowledge of emerging technologies in IT sector.

 

MBA in Operations:

If you are interested in supply chain management or logistics, you can consider this specialization. Operations-MBA in Operations, Deals with Production Management or Shop Floor Management. This will give you a way to maintain the process flow, develop vendor and interdepartmental relationships.

 

Apart from the above mentioned specialties, you can also go for industry focused specializations like MBA in Hospital and Healthcare Management, International Business, Banking and Insurance, Tourism and Hospitality etc.

Always choose MBA specialization keeping in mind the clarity of study and career path.

 

There are a few factors to consider when choosing your MBA specialization:

1. Interest: Do you like to sell or are you interested in a desk job? Your interest is key. If you like talking to people, convincing them about products, solving problems, building a brand, then go for marketing. If you like to identify and nurture talent, then opt for HR.

2. Purpose: Are you looking for a job or wish to handle your family business or start your own job? HR is good for finding jobs, finance is good for family business and marketing is important for start-ups.

3. Experience: Based on your previous company's work experience, project management, IT, finance or sales and marketing, you should decide your expertise.

4. Knowledge: I personally loved marketing but I was very weak in finance. Therefore, I opted for finance to fight against all odds and learn. It has helped me a lot in my career. Either select your comfort zone or select an external zone.

5. Passion: If you are fond of branding or selling, do marketing. If you like talking and hiring people, then go for HR. Choose what you are passionate about and your job will become easier.

6. Talent: Some of my friends were born salesmen. They can sell pen to an illiterate. They choose marketing. Another was a math pundit. He chooses finance. The girl I liked was an excellent spokesperson. She was also very caring. She went to choose HR.

7. Planning for the future: Whether you want to stay on a corporate job or apply for a government job or go on to become a lecturer, your expertise is affected by this. Finance is the most preferred option for banking. Marketing professionals have a habit of rapidly rising up the corporate ladder.

8. Career Options: Lots of MNCs prefer to hire finance and HR professionals as corporate sales are handled by experienced people. Start-up marketing likes to hire people. Choose where you want to work.

9. College specialty: IIM-C is notorious for finances. It is the best school in India for finance. MICA for marketing, XISS for HR professionals. You will influence the college with your decision.

10. Market fever: In the 2000s, there was a huge demand for project managers due to boom in IT sector. Then came the demand for HR for recruitment. Currently, the Indian e-commerce sector is thirsty for marketing professionals. Watch out for market needs and choose accordingly.

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