Most sought after MBA specializations – part 1
Once students seriously consider doing an MBA (or PGDM), they quickly realize that they need to specialize in something that:
- Genuinely interests them and equips them with the right skill set.
- Caters to a consistent demand in the business world.
- Creates diverse career options for them in the future.
B schools either offer:
A highly specialized course for the entire duration of two years.
A course where the student can select a specialization of his choice in the second year of the course.
Here are some options that all students need to be aware of before they make their final decision.
- MBA in Finance:
If numbers excite and engross you- then this specialization is bound to benefit you. Accounts, costing, tallying a balance sheet, budget/capital/asset management, international finance etc. are some subjects that you are likely to get exposure to.
Most organizations have a finance department where this kind of expertise is always required. Banks, the mutual funds and/or insurance industry, stock exchange market etc. are some organizations that welcome people with an MBA in Finance. And there are a whole host of rural, public, private, co-operative, international banks that one can get into. Banking technologies are also becoming highly technical and user friendly these days and for people who love numbers, this is bound to prove an interesting option to pursue.
- MBA in Marketing:
As discussed in the previous article – just having a great product is never enough. One needs to market it properly and this highly specialized line appeals to many youngsters these days. They learn to analyse the behaviour of the consumer and study the dynamics of the market. They learn to advertise using the latest techniques. Communication skills are most definitely honed here.
The market related to any product is constantly progressing. Products need to be marketed in the right manner keeping all these variables in mind. And that in itself is a huge task. And that is what the students of this line study. Product/Brand/Sales/Digital Marketing/Media manager are all various profiles that one can explore depending on one’s interest and passion.
And ah! yes – they will also learn to market themselves appropriately and instantly recognize a sales pitch when they see one!
- MBA in Human Resources:
One can spend a lifetime with a person and still discover something new about their personality every day. Human behaviour is essentially a complex phenomenon and channelizing all the talents, skills and knowledge requires a lot of ‘on the feet’ thinking. Essentially such people have great interpersonal skills and empower people to take their own decisions. They know how and when to empathize and how and when to draw the line. Such fine aspects of human psychology is honed through this specialized line.
Recruiting, talent, retention, reward, labour management and appraisals etc. are some truly interesting aspects of this role. For those who love interacting with diverse people this line offers a plethora of learning opportunities.
And with a few years of experience, such specialized skills are bound to reap rich rewards – mentally, emotionally and financially!
There is stiff competition in every sector. No doubt about that. Perhaps these lines are highly popular and most sought after. Perhaps you want to consider all the other options that are available to you before you take your final decision. To know about other options for MBA specializations, read this.