Which are the most popular MBA specializations?

With an MBA from a specialized program, you can become an expert in a chosen business area, complementing your generalist training.

What is an MBA specialization?

Specialization is also known as a concentration in an MBA program, and it allows you to gain expertise in a specific area of business or function.

During the first year of a traditional MBA program, you may focus on core modules before taking electives focused on a specific topic area in your second year.

There are numerous MBA specializations ranging from general management to finance and marketing.

Specialized MBA programs or traditional MBA programs with a specialization track generally come in two forms.

MBA specializations popular with MBA students

MBA General Management

General management specializations cover everything you need to be a successful generalist at work.

An MBA is already recognized as a general management degree, so an MBA concentration in general management provides you with the opportunity to broaden your general management skills, by exposing you to topics such as human resource management, operations, and digitalization.

The variety of roles you could move into after graduating means the MBA General Management specialization is a good choice if you're looking to keep your career options open.

MBA Finance

Would you be interested in a role at JP Morgan or Goldman Sachs? After getting your MBA, specialization in finance might be the way to launch a coveted career.

Among the topics covered by MBA in finance, specializations are:

• Asset management.
• Fintech.
• Strategic and financial risk management.
• Valuation of your own or another company.

An MBA finance course typically covers:

• Venture capital and private equity
• Valuation and mergers and acquisitions
• Management of international finances
• Financial technology and digital finance

An MBA focused on finance might lead to the following careers:

• Financial manager
• Investment banker
• Financial analyst
• Auditor

MBA Marketing

An MBA marketing specialization makes sense if you are interested in a career in marketing.

Marketing specializations typically cover topics such as:

• Big data
• Consumer behavior
• Marketing analytics
• Pricing strategy
• Brand management
• New product development

With a marketing specialization, your career options aren't limited to a particular industry group upon graduation, which is a huge advantage.

You may also be able to focus your education on a specific industry with an MBA marketing specialization if you have a target industry in mind as well, such as luxury or healthcare.

MBA in Business Analytics

Look for a program that offers a strong business analytics track if you're looking to begin a career in a fast-growing field and build your level of expertise.

Having completed your core business modules, you may wish to explore how data and models can support commercial decision-making, link advertisements and sales, and analyze business performance based on various key performance indicators.

Typical modules in the MBA in Business Analytics include:

• Data mining
• Data visualization
• Risk management systems
• Trading strategies
• Customer insights research

Those who earn an MBA in Business Analytics might pursue careers in marketing, consulting, or finance, such as in brand management, management consulting, operations planning, or strategic planning.

MBA Consulting

Consulting careers are well suited to MBA. Once you graduate, you will be well-prepared for the industry because you will learn how to work and lead diverse teams, develop communication and presentation skills, and gain a holistic understanding of how businesses operate.

Your MBA consulting specialization will develop your people skills, business case cracking abilities, and knowledge of overcoming various business challenges. Presentations and public speaking will also be an integral part of the program.

You will be well prepared for a career in consulting with an MBA. Many MBA colleges in Delhi offer special consulting programs as well. For example, the University of Rochester's Simon Business School and the University of Alberta's Alberta Business School provide STEM-designated MBA specializing in strategy and consulting.

A specialization in strategy is also offered by HEC Paris, geared towards students interested in becoming top strategy consultants.

MBA in Entrepreneurship

Startups can be challenging to launch. However, MBA in Entrepreneurship programs can equip you with the skills necessary to establish a startup successfully.

While completing your degree, you will have the opportunity to pitch your startup to an expert panel of venture capitalists, accelerators, and entrepreneurs.

Entrepreneurship MBAs will help you learn about critical aspects of the entrepreneurial journey in addition to frameworks that will help you deal with uncertainty.

You will also learn about:

• Creating a value-driven business model
• Engaging and communicating with stakeholders
• Building a successful team
• Venture creation
• Platform disruption
• Scaling up and business growth

MBA in HR

Any company looking to attract and retain the best talent knows that Human Resources isn't just about fixing internal employee problems.

HR MBA specializations would cover human resources analytics, consulting, operational management, and labor law. If you are considering a career in HR, you must be sure that it's the right fit for you, since specializing means you gain specific, focused knowledge in one area.

As a manager, you will manage employees, develop training and development initiatives, and manage health and safety measures.

MBA in International Business

If you pursue an MBA in international business or an MBA in global management, you will be prepared for a career that spans continents.

Learn how to manage and lead diverse teams and how other countries conduct business legally and culturally. You may also take study trips abroad.

You can join multinational companies that operate worldwide with a specialization in international business. Also, it prepares you for work in smaller, local organizations with global ambitions, such as family businesses.

How to choose an MBA specialization

Listed below are some MBA specializations, but they are not exhaustive. In addition, the demand for new concentrations will grow as new industries and trends emerge.

Many MBA colleges offer MBA specializations in areas such as digitalization and sustainability. In addition, schools with a strong focus on fintech and cryptocurrency are also available, as are healthcare and supply chain management programs.

MBA programs prepare you to enter a range of jobs and functions and accelerate your career progression. In this class, you'll learn the ins and outs of a business from top to bottom.

However, if you're looking to specialize in one specific field and build your expertise, consider an MBA specialization.

Finding your best fit program depends on whether the MBA program you're considering offers the MBA specialization you're interested in. Finding Your Best Fit Full-Time MBA Program will help you narrow your options and identify the most appropriate programs based on your needs, preferences, and career goals. Download this free guide today.