How to Choose the Right MBA Specialisation?

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Aarushi Jain
Updated on Sep 12, 2022 12:19 PM IST

Do you want to study MBA abroad? Have you decided on the right MBA specialisation to pursue among the many alternatives available? If not, here is an in-depth article that will assist you in selecting the right MBA specialisation for you.

How to Choose the Right MBA Specialisation?

MBA courses have long been regarded as the pinnacle of higher education. This is attributedto different variables, including different MBA specialisations, programme rigour, tough admission standards, and improved job trajectories. Universities throughout the world compete for the best MBA curriculum, programme characteristics, and study experience in order to attract the best candidates.

Having said that, MBA programmes nowadays include a plethora of specialisations which for sure allow students to make a choice for the right MBA specialisation to study abroad. Students can select majors based on their personal preferences, future professional goals, and previous job experience. All business schools provide a variety of MBA specialisation courses in order to appeal to a broader range of prospective applicants and to keep the coursework modules current with industry/economic trends.

Here, we will not only delve deeper into the different types of MBA degrees and MBA specialisations but will also tell you the important factors to consider when choosing the right MBA specialisation for you.

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Types of MBA to Study Abroad

Before knowing about the different MBA specialisation courses and how to choose the right MBA specialisation, it is equally important to know about the different types of MBA courses you can pursue abroad.

Each foreign university has its MBA Program variations, such as Full-time MBA, Executive MBA, Part-time MBA, Distance MBA courses, or Online MBA courses. Let us know about each one of them briefly:

Two-Year Full-Time MBA

One of the most prevalent MBA courses is a two-year full-time programme. Many world-renowned universities, particularly business schools in the United States and Canada, provide them.

Enrolling in a two-year MBA programme allows you to hone your essential business skills while delving into specialised topics. Your first year will cover fundamental topics such as strategy, communication, finance, and marketing. During elective modules and focus periods in year two, you will also have the opportunity to concentrate on subjects of your choice.

Furthermore, the extended period provides significant advantages, including several opportunities to obtain practical experience through business simulators and consulting assignments.

One-Year Full-Time MBA

One-year full-time MBA courses cram a lot of the same course material into a concentrated, expedited programme. While two-year MBA programmes are common in countries like the United States, Canada, and Australia, many top MBA schools in Asia and Europe, such as the United Kingdom, are provided in this format.

A one-year MBA will cover the same essential business fundamentals and often allow you to specialise, however, there may be less time devoted to electives and concentrations. As a result, one-year degrees are better suited to students who are not intending to make a significant professional move. One-year MBA students are attempting to expedite their current career path and, as a result, carry their experience with them.

Executive MBA

Executive MBA courses are designed for mid-career professionals who want to advance into leadership positions. Given that the experience each student brings to the cohort is highly valued, most programmes require a minimum of five years of work experience before applying.

Part-time EMBA courses are typically taught in the evenings or on weekends. This enables you to continue working and implementing your knowledge and abilities in your organisation as you grow. Because of the added value to your business, EMBAs are more commonly sponsored than MBAs.

Though a part-time programme, EMBAs are typically taught over two years. Classes teach the fundamentals of business, but with a greater emphasis on management and leadership abilities than the standard MBA programme.

Part-Time MBA

If you want to study for an MBA but do not want to spend time away from your job, a part-time MBA may be the ideal option for you.

Part-time MBAs provide you with the freedom to design a curriculum that fits your schedule. Students frequently complete their degrees over a long period, ranging from two to five years or more.

When you choose a part-time MBA, you may study at your own pace, with classes accessible at times that work for you. Alternatively, you can enrol in a programme that offers classes in the evenings or on weekends on a weekly basis, allowing you to complete the programme as part of a larger cohort.

Dual MBA

The Dual MBA Programme is designed for individuals who want to pursue an MBA as well as a master's degree in their profession. It functions as a dual degree of MBA and MS or MA, with the option of choosing any major for Master's study.

Dual-MBA courses are available at business schools such as Kellogg School of Management and Wharton Business School. Similarly, INSEAD offers the Dual-degree Tsinghua-INSEAD Executive MBA programme or GEMBA (Global Executive MBA), which permits students to study in either Beijing or Singapore.

Distance/Online MBA

Distance/Online MBA courses allow students to finish degrees from the comfort of their own homes, anywhere in the world. This type of MBA covers the same curriculum as traditional MBA programmes and is often taught by the same professors.

They do, however, have the added benefit of a flexible learning experience. You can take lessons when it is convenient for you and study for a prolonged length of time, similar to a part-time programme.

Classes might be offered asynchronously or synchronously, depending on the online MBA programme you select. While many programmes provide a remote experience, other Online or Distance learning MBA courses also provide optional residential durations that allow you to meet with fellow MBAs in-person and enhance your experience.

Types of MBA Specialisations to Study Abroad

After deciding on the type of MBA programme to study abroad that is best suited to your needs, choosing the right MBA specialisation for yourself is equally important. The first year of the MBA curriculum contains general management and basic managerial subjects. Only in the final year do you study in depth about a specific area.

To select the right specialisation for MBA courses, you must first be informed of all the subject specialisations accessible at that particular university abroad. Here are some of the most popular and sought-after MBA specialisations provided by most foreign business schools:

  • General Management: Students in general management will study a wide range of management skills and views that can be applied to firms in any field, from human resources and marketing to systems and user experience.

  • Strategy: MBA in Strategy is one of the popular specialised MBA courses that teach you how to make successful business decisions; you will study business development, consulting, risk management, and planningskills that are transferable across industries.

  • Consulting: Management consulting is one of the most in-demand business skills. A specialised MBA in Consulting will prepare business students to enter a lucrative field after graduation, assisting clients in better managing their businesses.

  • Finance: An MBA in Finance specialisation may be a good option for business students who want to focus on finance. Finance is a speciality for many high-level bankers, financial controllers, chief financial officers, and finance managers. You will study statistics, analytics, bookkeeping, and more.

  • Marketing: An MBA with a Marketing specialisation will teach you how to promote products and services, create and execute marketing campaigns, and engage with customersskills that can be applied to marketing and sales roles in both B2C and B2B organisations.

  • Entrepreneurship: A specialised MBA in Entrepreneurship provides important management and company development expertise, as well as the abilities required by entrepreneurs to pitch ideas and get finance.

  • Operations Management: MBA in Operations Management is concerned with the planning, organisation, and management of production to maximise efficiency. One must consider this MBA specialisation if they are interested in supply chain management or logistics.

  • IT/Technology Management: MBA graduates with an MBA specialisation in IT or Technology Management are on the bleeding edge of software, UX, design, and the flow of information technology. If you want to manage how data moves within firms, between them, and into the world, investigate this expertise.

  • Business Analytics: Because of the growing usage of Big Data tools and Data Science technologies across all industries, business analytics has become an essential component of company infrastructure. Hence, an MBA specialisation in Business Analytics will teach you how to successfully use business data while also introducing students to key managerial skills. You will also learn how to apply Data Analytics in a range of subjects, such as finance, marketing, human resources, operations, and supply chain, as well as algorithms and big data technology.

  • Human Resource: A excellent Human Resource Manager has strong interpersonal skills and an engaging personality. Human Resource Development, Strategic Management, and Organizational Management are all topics covered in an MBA in HR. Aside from that, students specialising in this discipline learn about the cultural, social, and financial factors that can influence the employer-employee relationship.

  • International Business: A job in International Business Management entails exchanging goods, services, and capital on a global scale. It focuses on the in-depth components of an organisation's foreign operations. Some of the subjects taught in this MBA specialisation include international marketing management, international finance, international human resource management, export and import management, international trade laws, international labour laws, and more.

Know the Best MBA Specialisation Suitable for You!

Why Do MBA With a Specialization?

A general MBA improves decision-making, leadership, and analytical abilities. A specialisation, on the other hand, offers concentrated education in a certain sector, such as finance, marketing, entrepreneurship, information technology, or business analytics. This will prepare you to pursue certain roles and may boost your qualifications.

Before deciding on the right MBA specialisation and applying for MBA courses, you should carefully assess their academic skills and professional aspirations, and weigh them against the specialities offered by their programme.

How to Choose the Right MBA Specialisation?

Management education is overflowing with a plethora of MBA specialisation options for students all over the world. Choosing the correct institute with the desired area of concentration is critical for graduates. This is especially true for individuals planning to pursue an MBA. Focus on your interests and career prospects when selecting an MBA specialisation. Let us have a look at some of the most important things to remember while choosing the right MBA specialisation for yourself:

Determine Your Career Goals

Consider your future before deciding on a specialisation for MBA courses. Explain your career objectives and where you envision yourself in the following five years. Only after you have thought about your goals can you consider where you want your career to go. Having a specific objective in mind can help you determine your area of interest.

Evaluate Personal Interests and Strength

Identifying your genuine potential and personal interests can be the most important aspect in determining the right MBA specialisation to create your career in management. Choosing your area of interest reveals information about you as well as the necessary skills for advancement in the profession.

Find a Balance Between Career Goals and Personal Priorities

The vast majority of candidates choose MBA concentration based on their professional interests and career objectives. However, you should also consider criteria such as the quantity of full-time and internship possibilities available in that area, salary packages, the business school's reputation in that field, and the quality of faculty and pedagogy available.

Thus, even if you do not need to make a final decision on your preferred MBA specialisation until later in the programme, you should analyse all of the above criteria before enrolling in a business school.

Considering Only Salary is Not Enough!

An MBA in Finance or Business Analytics is typically one of the highest paying MBA courses available. However, if you dislike number crunching or data interpretation, you may get dissatisfied after a few years and wish to change careers. Similarly, those who enjoy selling and engaging with clients should pursue the glamour and substantial pay of marketing managers or management consultants.

A decent pay package might be a motivating element while deciding on an MBA specialisation. Investigate all of the professional advantages and advantages that come with an academic degree. This will assist you in selecting an appropriate specialisation to advance your career.

Note Down the Length of the MBA Programme You Choose

You should also consider the length of the MBA degree before choosing the right MBA specialisation for oneself. MBA courses are normally a one or two-year academic qualification that is offered all over the world. The first stage focuses on the fundamentals of numerous disciplines in business and management, while the second focuses on the relevant specialist fields.

Research on the Subjects Covered

Students frequently misunderstand the curricula of Indian universities and those of universities and colleges abroad. As a result, you must examine the various courses and topics covered in the various MBA courses. Knowing the subject curriculum can assist you in thoroughly grasping the subject knowledge and mastering the necessary skills to advance in the field.

Take a Look at the Business School Ranking

Once you have chosen the right MBA specialisation for you, it is time to choose a university or business school that can help you build a solid foundation in the field. Numerous institutes are offering intriguing courses in management and business that will pique your interest.

Number of Companies Visiting the Campus

Learn how many firms visit your college for placements in a specific speciality or MBA specialisation and also look into the kind of job offers they are providing, the package, and what skills are they looking for. If more companies are visiting for a specific specialisation, the chances of getting a job in that specialisation increase.

To choose the right MBA specialisation for yourself to study abroad, you must surely make note of the above-mentioned factors in mind. While getting an MBA can help you get a better job, getting it from the appropriate business school can help you advance in your career. Furthermore, getting off to a good start might help you create a solid base for a potentially rewarding career. So, put on your detective hat and go find the best business school and specialisation for MBA courses for you!

Still worried about choosing the right MBA specialisation? Get in touch with our experts at abroad@collegedekho.com.

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FAQs

How can you choose the right MBA specialisation for yourself?

Choosing the right MBA specialisation, it boils down to your individual strengths, hobbies, and career objectives. Begin by carefully analysing which specialisations correspond with your personal and professional goals while cutting down your possibilities. Some industries, for example, pay better wages, whilst others allow you to make a significant contribution in a specific subject. Some MBA students excel in emphases in data-driven business analytics, while others excel in healthcare management or marketing concentrations.

Which MBA courses have more scope in future?

The best MBA courses that have more scope in future include courses or programmes like MBA in Finance, MBA in Human Resource Management, MBA in Digital Marketing, MBA in Stategy, MBA in Operations, MBA in Entrepreneurship and more. These are some of the most sought-after and greatest MBA specialisations to study abroad, and many students believe them to be the safest.

Which are some of the new or emerging MBA courses?

Some of the new-age or emerging MBA courses that are becoming trending among the study abroad aspirants rapidly include programmes like MBA in Artificial Intelligence, MBA in Fashion and Luxury Brand Management, MBA in Sports Management, MBA in E-commerce and more. These MBA specialisations are rapidly becoming popular among students who are showing more and more interest in pursuing MBA with a specialisation abroad. 

Is it better to get an MBA with a specialisation?

An MBA with a specialisation in a core subject like HR, Marketing, Finance, Healthcare, etc, might provide you with more tailored management experience if you are interested in a specific sector or profession. Similarly, if you already know what career path you intend to take after graduation, a specialised MBA programme can give you a leg up on a broad programme.

Which MBA specialisation is best for a startup?

MBA courses with specialisations that are excellent and extremely helpful for aspirants aspiring to start their own business or startup include programmes like MBA in Entrepreneurship, MBA in Information Technology (IT), MBA in High Technology Management, MBA in Data Analytics and Business Intelligence, MBA in Insurance & Risk Management, MBA in Cybersecurity, MBA in Marketing and more. 

Which type of MBA is in demand?

According to recent corporate recruiter survey reports, the most in-demand MBA specialisation courses are finance, project management, consulting, strategy, and business analytics specialists specialisations. Employers, on the other hand, hire MBA graduates with a wide range of specialisations since each degree type is suited to distinct positions.

Which MBA is best for becoming a CEO?

A general MBA from a top business school is a smart route for ambitious CEOs to take. If you already have a solid business degree, completing an MBA in Finance specialisation or another similar area could be a viable option.

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