Top 10 Specializations in MBA
|Top 10 Specializations in MBA|
MBA in Finance
- MBA in Finance is one of the most popular and preferred specializations in MBA which provides skills in Financial Management, Corporate Financial Planning, Corporate Acquisitions & Mergers, Accounting, and Banking.
- Its syllabus is designed to enable the students to analyse the Financial Reports, forecast financial and economic trends, make stock profitable, make a balanced approach between risk and profitability and manage and maximise investment portfolio with a minimum risk factor.
- An MBA in Finance can work in various fields such as investment banking, taxation, tax planning, financial statement reporting and analysis, hedge fund management, international finance, asset finance, and insurance management.
- If you want to pursue MBA in finance then you must attain a graduation degree in any stream.
- The Banking Sector of India has a requirement for skilled people who are expert in Finance. Thus, the banking sector is an added boon for the students pursuing an MBA in Finance as the growing size of the Indian Banking sector is known to all.
- Not only the banking sector, but various other financial sectors such as Insurance Industry, Mutual Funds Industry, Stock Exchange, and Financial Consulting are other bright avenues for MBA aspirants to pursue MBA in Finance.
- The average salary of MBA Finance in India is Rs. 6,78,000 per annum. The salary increases with growing experience and knowledge.
- Private Equity Companies, Corporates, Banks, Asset Management Companies, and Insurance Companies are some of the top recruiters of MBA Finance such as EY, HDFC Bank, Accenture, TCS, ICICI Banks, etc.
- Top MBA colleges offering specialization in Finance in India include IIM Ahmedabad, IIM Calcutta, IIM Kozhikode, FMS Delhi, JBIMS (Mumbai) among others.
MBA in Marketing
- MBA in Marketing is of the most renowned specializations in MBA among students owing to multiple job opportunities in the market.
- Marketing students study consumer behaviour and create products that they will most likely want to buy. Classes in marketing cover topics such as advertising, branding, market research, and marketing globally and online, among many other topics.
- It teaches skills you can use in any field. You learn skills such as mathematics, communication, analytics, and, primarily, management.
- Your career options are limitless with an MBA in Marketing. You can start your own business, consult, or manage many different types of companies. You are also prepared for leadership positions in the field of Marketing.
- Scope for MBA in Marketing in India is ever-expanding. After the completion of an MBA in Marketing, students can be placed as sales executives or managers in reputed companies across industries, including FMCG, retail, tourism, banking, hospitality, media, advertising and market research.
- The top skills required for an MBA in Marketing are Interpersonal skills, Strategic thinking, Entrepreneurial skills, Communication skills, Leadership skills and other skills like negotiating, analytical thinking, definite target audiences, marketing plans, time management, etc.
- According to payscale, the average salary of an MBA in Marketing candidates is Rs. 7,52,000 per annum.
- Top Colleges for MBA in Marketing in India include IIM Ahmedabad, IIM Calcutta, FMS Delhi, IIFT Delhi, XLRI Jamshedpur, SPJIMR Mumbai, MDI Gurgaon, IMT Ghaziabad among others.
MBA in Human Resource Management
- MBA in Human Resource Management or MBA in HR imparts knowledge and training in managing the workforce of the organization.
- The role of an HR professional is to develop and manage their company's culture, hire the best of the talents and retain them. Their core role is to take care of the welfare of the company’s employees. They are one of the most valuable contributors to the growth and the sustenance of a company.
- All organizations hire HR professionals. An MBA graduate with HR as specialisation has a scope in directorial and senior-level management role.
- MBA in Human Resource Management teaches candidates about the strategies that improve the quality of business and increase the human output in corporate, private as well as public sectors. It is also closely related to employee welfare schemes and ensuring that labour welfare rights are followed at the place of work. HR managers also ensure the retention of employees, their compensation and reward them whenever deserved. They are employed to facilitate cordiality amongst the staff.
- Human Resource Management is based on the theme of ‘talent analysis’, which is becoming a high demand skill as new companies emerge.
- The future of HR management could be outsourcing as well, due to its high demand in countries other than India. Therefore, MBA in HR is a lucrative course that offers promising growth and opportunities.
- HR managers in India get INR 7.03 lakh per annum on average.
- Top colleges offering MBA in HR include IIM Indore, IIM Ranchi, IISWBM Kolkata, Delhi School of Management, Delhi Technological University (DTU), UBS Chandigarh, etc.
MBA in Information Technology
- MBA in Information Technology is a very popular specialization among those who plan to be a part of the growing internet-based industries that include e-commerce platforms and technology companies.
- MBA in IT offers entrepreneurs or leaders with a great understanding of the management of people, e-commerce and security. An individual holding an MBA degree has an upper hand in this competitive business world as the post-graduation course provides a conceptual vision and advancing a business to change with technological trends.
- The scope for MBA in IT is massive and you can opt for one or multiple career options after completing it. The right approach is to first select the best MBA institute providing quality education for the post-graduate programs in the IT field, prepare yourself for the relevant entrance exam like CAT, MAT, XAT, CMAT, SNAP, etc. and complete the admission procedure as per the timeline of the institution.
- MBA in IT covers subjects including software engineering, software development, computer programing, software testing, and computer security. The skills required by aspirants to excel in these fields include computer and digital literacy, data management and analytics, technical writing, information technology, office skills, flexibility and foresight, data mining and coding, project management and some technical skills.
- MBA in IT in India provides IT professionals with cross-disciplinary exposure that includes the need to effectively use technology in various organisation.
- The average salary of a manager in an IT company can go up to Rs 12 LPA.
- Top colleges offering MBA in IT include IIM Ahmedabad, IIM Bangalore, Symbiosis Institute of Computer Studies and Research (Pune), Symbiosis Centre for Information Technology (Pune), Jamnalal Bajaj Institute of Management Studies (Mumbai), Institute of Management Technology (Ghaziabad), Faculty of Management Studies (Delhi) among others.
MBA in International Business
- MBA in International Business is very popular among those who want to be a part of the workforce that run businesses internationally.
- Companies that are aiming to expand and establish their business in a foreign country require candidates that are trained to deal with international scenarios and are also knowledgeable with the concepts and theories that can be helpful for business' establishment. So, giving rise to the popularity of MBA in International Business.
- The candidates who have studied International Business are favoured by multi-national companies during recruitment. The chance to travel abroad is one of the perks of pursuing a course in International Business at the post-graduate level.
- Candidates with outstanding communication skills, a keen aptitude towards business and having an interest in economies of diverse countries, are most appropriate for this course. MBA in International Business will allow them as managers who understand the trends and strategies of the global economy and apply this to enhance the export of the country.
- The overall aim of the course is to instruct you as a Human Resource Manager in an international context and enhance the quality of your professionalism. Students have the option to select a foreign language. Most institutes teach Mandarin, Spanish, French etc.
- MBA in International Business graduate has a vast opportunity in the present market. International Business degree holders are frequently required because of increasing globalisation and the growing number of businesses that are at present competing on the international stage.
- Some of the top recruiting companies that hire MBA in International Business professionals include HDFC Bank, Citi Bank, Amazon, ICICI Bank, HSBC, Google, Axis Bank, IBM, etc.
- MBA in International Business can lead to careers such as Administrative Service Manager, Management Analyst, Chief Executive Officer, Export Managers and Executives, Business Development Manager, International Business Consultant, Investment Banker, etc.
- According to payscale, the average salary of an MBA in International Business candidate is Rs. 7,88,000 per annum.
- Top colleges offering MBA in International Business include Indian Institute of Foreign Trade (IIFT) Delhi/Kolkata, MDI Gurgaon, IIM Calcutta, IIM Lucknow, Symbiosis Institute of International Business (SIIB) (Pune), K J Somaiya Institute of Management Studies & Research (Mumbai), FORE School of Management (New Delhi), BIMTECH Greater Noida among others.
MBA in Banking and Financial Services
- MBA in Banking and Financial Services has occupied key value among the most preferred MBA courses in top MBA colleges.
- The demand for Banking, Finance and Insurance Management professionals has been rising year after year. India, being one of the fastest and largest major economies in the world with a large and upcoming Banking, Finance and Insurance services sector is moving up to actualize its full growth potential. As a result, there is a consistent increase in the demand for skilled and well-qualified management professionals with expertise in Banking and Finance to function in the challenging BFSI sector.
- The MBA in Banking and Financial Services program equips the budding managers with the skills required for a successful career in the Banking and finance sectors, mergers, acquisitions, managing the assets of a banking or insurance company in the right manner.
- It is a globally recognized qualification focused on taking initiatives in changing environment of the Banking and Financial Services sector. Financial Planning, controlling and managing the financial resources are the major functional areas for which the industry needs MBA in Banking & Financial Services.
- The graduates with MBA in Banking and Finance are offered key roles and profiles like Financial Analyst, Credit Risk Manager, Portfolio Manager, Treasury Manager, Derivatives Trader, Structuring, Assistant Vice President – Finance/Corporate Banking, Corporate Finance Manager among others.
- If you have done MBA in Banking Finance from a top MBA college, the average salary offered in accordance with the role offered can go as high as Rs. 10 to 20 lakhs per annum.
- Top colleges offering MBA in Banking and Finance in India include IIM Kozhikode, IMI New Delhi, IMT Ghaziabad, TAPMI Manipal, SSBF Pune while IIM Ahmedabad, IIM Calcutta, IIM Lucknow and FMS Delhi offer Banking and Finance as a key elective in their Specialization in Finance.
MBA in Operations Management
- MBA in Operations Management is aimed at educating students for planning, creation and management of resource capabilities used by a business to make services or products.
- Typical roles in Operations Management permit you to communicate with an extensive range of people including researchers, engineers, marketing professionals, and everything in-between.
- It is an ideal career path if you want to be occupied with a range of business operations.
- Those students who pursue an MBA in Operations Management are trained to take on challenges in supply chain design, logistics and supply chain management. It also educates students on ways and means of making processes or operating systems easier and efficient to use.
- Students who complete their MBA with a specialization in Operations Management are placed in job domains that focus more on the delivery side of a business.
- It deals with a wide range of tasks associated with business-related concerns such as Forecasting, Product Designing, Supply Chain Processes, Inventory, Maintenance, Quality Management, etc.
- The average salary of an MBA in Operations Manager candidate is Rs. 8,02,000 per annum.
- Top colleges offering MBA in Operations Management are Xavier Labour Research Institute (Jamshedpur), IIM Bangalore, IIM Calcutta, IIM Lucknow, National Institute of Industrial Engineering (Mumbai), SP Jain Institute of Management and Research (Mumbai), Symbiosis Institute of Operations Management (Nashik), Indian School of Business (Hyderabad) among others.
MBA in Rural Management
- MBA in Rural Management involves advanced lessons in the application of management principles to the rural sector, planning, organization, and control of cooperatives and related organizations in the field of agriculture, implementation of the developmental plans and projects directly or indirectly through non-governmental organizations, development needs and ground realities of the rural areas and framing of developmental strategies and policies.
- Students pursuing MBA in Rural Management are exposed to practical learning via visits to rural areas, living with villagers as part of their team and internship for a hands-on experience of working in a rural setup.
- An MBA in Rural Development will provide aspirants with the skills and abilities required to manage and communicate with people about schemes and policies in rural areas.
- Rural Management programmes offer to learn and managing the rural markets which are prominently dominated by agriculture and allied products by using locally available raw material.
- MBA in Rural Management applies the management theories and practice with their modified process meant for rural areas that can be converted into the high potential market in future.
- The planning, organising, making the rural areas develop fruitfully with profit generation for the products, studying to develop the cooperatives, agri-business and allied activities are part of the courses in MBA Rural Management.
- The MBA in Rural Management offers you the opportunity to study how to plan, organise, direct and exercise effective control on the rural area activities and their development including agriculture.
- The average annual salary offered to successful professionals of MBA in Rural Management in India ranges between INR 3 and 12 lacs, increasing with the candidate’s experience and skillset.
- Top colleges offering MBA in Rural Management include IIM Ahmedabad, IIM Lucknow, IRMA Anand, MANAGE Hyderabad, IIFP Bhopal, XUB-Xavier School of Rural Management (XSRM) (Bhubaneswar), Xavier Institute of Social Service (XISS) (Ranchi) among others.
MBA in Entrepreneurship
- An MBA in Entrepreneurship is the perfect specialization for candidates looking to start a successful business venture.
- The degree usually includes a standard MBA curriculum alongside entrepreneurship-focused classes, such as venture capital and asset management.
- This course is meant to equip students with the necessary knowledge, skills and networks required to become innovators and entrepreneurs. The program builds in students the capability to create business ideas, build up these ideas into service and product offerings, and then design a commercial project to take business ideas to the market.
- The soft skills developed during an MBA course include teamwork, networking, creativity, leadership skills and flexibility in decision making all of which will make you stand in excellent stead for launching a startup.
- An MBA in Entrepreneurship will also assist you with some of the distinctive challenges entrepreneurs face when turning an idea into a flourishing business. You will look at things such as managing growth, how to secure finance, monetizing innovation, market research and social impact.
- MBA in Entrepreneurship familiarises students with concepts of product/service development, venture creation, and business management. A strong focus on Entrepreneurship directed at preparing students with leadership skills and challenge-managing enables them to grow businesses and adapt to continuous environmental, technological and regulatory changes.
- MBA in Entrepreneurship is among the well-known post-graduate courses in India. The course is also available in the distance learning mode, opens up doors to a profitable career in fields such as marketing, sales, advertising, etc., in positions of the Managerial or Executive levels, for instance, Financial Manager, Marketing Manager, Human Resource Manager, etc., which grows with an augment in experience and skills.
- Top recruiters for MBA in Entrepreneurship include Hindustan Unilever Ltd, AT Kearney, Wipro, Reckitt Benckiser, Dell, TCS, CRISIL, Infosys, Reliance, Heidelberg Cement among others.
- Top colleges offering MBA in Entrepreneurship include IIM Ahmedabad, IIM Bangalore, IIM Calcutta, Indian School of Business (Hyderabad), S P Jain Institute of Management and Research, NMIMS (Mumbai) among others.
MBA in Logistics and Supply Chain Management
- MBA in Logistics and Supply Chain Management is a 2-year post-graduate Management Course focusing on building analytical and managerial skills in the fields of Logistics and Supply Chain.
- Managers in the Logistics and Supply Chain sector are required to ensure that products and services reach the consumers who have asked for them. They manage all the operations related to the count and supply of the products that an organization deals in.
- Regardless of the size of any business organization, they all have logistics managers to keep track of the inventory and accounts receivable. Small organizations just need a single person to manage their logistics and supply chain whereas huge organizations have an entire department dedicated to that wing.
- It is an ever-flourishing industry, therefore it always offers good job opportunities. It also plays an essential role in the economic growth and development of the nation. With the highly developed manufacturing sector of India Logistics, Supply Chain Management holds a lot of opportunities.
- There are a lot of job opportunities in government as well as the private sector in the field of Logistics and Supply Chain Management. Government sector jobs in this field are available in the manufacturing domain. Various MNCs also need managers in the same field to deal with their operations properly.
- The course provides exciting career opportunities that not only pay well but are exciting and challenging. Most of the job opportunities are on-field that require being on the field and may sometimes involve physical labour. Professionals in this field have a clear window into how the market operates and can command high salaries.
- The average salary offered to a fresher with 1 to 4 years of experience in Logistics and Supply Chain Management is Rs. 6,25,000 annually.
- Top recruiters for MBA in Logistics and Supply Chain Management include Amazon,, Walmart, Army, Navy, Frito-Lays, Coco-Cola, Cadbury, Nestle, Intel, Apple, Google among others.
- Top colleges offering MBA in Logistics and Supply Chain Management include IIM Ahmedabad, IIM Bangalore, IIM Kolkata, IIM Indore, ISB Hyderabad, IIT Bombay, NITIE (Mumbai), NMIMS (Mumbai), Amity University among others.
*Source- Books, Internet, Self-Analysis