Different Types of PGDM Specializations – Know Why One To Choose?
There has never been a better time to pursue PGDM. Open markets, exciting job profile, innovative working styles, and outstanding pay. But deciding on the degree is just the first step. When it comes to getting a PGDM, many factors play at hand. From deciding the university/institution to picking a specialization: all of these are career-defining decisions that must be taken with immense research and consideration.
Several PGDM colleges of Mumbai present updated syllabus, scope, future prospects, and placement records of specializations. The choice of specialization comes down to the student, and there are many factors that play a role in making that decision.
Before we discuss the factors that should influence your decision on a specialization, let’s see what these streams stand for, their area of expertise, and the job roles that you will be expected to fill.
| PGDM
Specialization |
Area of Expertise | Job Profile |
| Marketing |
PGDMin Marketing is a two-year-long postgraduate degree that deals with marketing, advertising, digital marketing, social media management, modeling marketing strategy, public relations. |
● Competitive Marketing ● Channel Head ● Analytical Marketing ● Asset Manager ● Brand Manager ● Media Planner ● Corporate Communications Head |
| Business Analytics |
An PGDMin Business Analytics deals with research methodology, risk management, ethical analytics, and data mining as its core subjects |
● Marketing Manager ● Business Intelligence Analyst ● Management Analyst ● Financial Analyst ● Personal Financial Advisor ● Operations Analyst ● Business Analytics Specialist ● Management Consultant |
| Finance |
An PGDMin Finance is the core study of financial management, money control, accounting, privatization, capital, and international finance. |
● Marketing Manager ● Financial Analyst ● Business Intelligence Analyst ● Management Consultant. ● Operations Analyst |
| Human Resources |
Human Resources is one of the most popular streams of MBA, dealing mainly in talent management compensation, onboarding talent, HR compliance, workplace safety, and employee retention. |
● HR Manager ● Training and development manager ● Talent acquisition manager ● Compliance manager |
| Digital Finance & Banking |
An PGDM in digital finance is a fast-evolving field with primary topics being artificial intelligence, fintech ecosystems, digital fraud, cryptocurrency, etc. |
● Managing Consultants ● Insurance & Risk Managers Investment ● Banking Associates ● Financial Analyst ● Corporate Controllers ● Credit Specialists ● FinanceTreasurer s |
| Business Management |
An PGDMin business management deals with E-Commerce, customer service, business planning, advertising, and business structure. |
● Information Systems Manager ● Investment Banker ● Management consultant ● Data Expert ● Entrepreneurship |
| Information Technology | An PGDMin Information Technology is the study of information security, IT project management, and telecommunications. |
● Software Project Manager ● IT Infrastructure Project Manager ● Help Desk Manager ● Product Owner ● Project Manager ● Information Systems & Security Manager ● Program Manager ● Information Technology Manager |
| Operations Management |
An PGDMin Operations Management deals with operation research, supply chain management, financial accounting, business statistics, enterprise resource planning, and international logistics. |
● Operations Manager ● Time Study Analyst ● Purchasing Manager ● Schedule Coordination ● Industrial Engineer, ● Supply Chain Manager |
5 Factors to Consider When Choosing PGDMSpecialization
1. Area of Interest
The biggest factor to play in the consideration of PGDMspecialization is the individual’s choice and interest. Zoning in your skills and inclinations is a great way of figuring out which area of specialization is the best way for you. You must also focus on your strengths, and figure out which field you’re good at. Even if you don’t like the field, being good at something will create a love for the field. Being in the field of your interest is perennially important for the longevity of your career. If your area of interest is finance, digital currency, and advanced accountancy, then a PGDM in finance is the right choice for you. If business or entrepreneurship is in the field of your interest, then a relative specialization is perfect for you.
2. Job Prospects
Existing in a changing market with evolving disciplines, it is important to have a finger on trends before you invest two years and a large sum of money on a degree. Graduating in a diminishing field is scary and unproductive. Being a market-based educational venture, it is essential to see which field will have a higher chance of being relevant 10 years down the road. For example, fields like digital finance and marketing are seeing a boom in hiring spree, whereas operations management and information systems are dwindling down to micro niches with added educational requirements.
3. College Status
Even before sitting for an entrance exam, you must have a preferred college. Choosing a specialization can come down to opting for lanes in which the college of your choice specializes. All leading IIMs have advanced courses for all specializations. But when it comes to colleges on the lower lung, a couple of disciplines outpace the other. For example, PGDM in international management is a highly coveted specialization, but not every college is equipped with the right teaching manual and faculty for this stream. While researching, combine the colleges and their most advanced specialization and land on the most suitable pick for yourself.
4. Future Scope
Many areas of work, including the nature of your specialization, are determined to be shaken by the constant infusion of AI in today’s market. Along with this, there are risks of running into obsoletion with an outpaced working culture. Your specialization should be equipped to deal with tough waters and be a source of an ignited livelihood for decades to come. PGDM is a career-elevation degree and the choice of specialization should be based on the future scope of the stream. Universal Business School (UBS), Mumbai, presents a competitive analysis of all leading disciplines to help students make better decisions for themselves.
5. Placement Offers
Certain specializations that are way more lucrative than the others. Your research top tier liquidity providers should include the placement patterns of particular streams, and how they compare to the stream of your choice. It is not wise to opt for streams that don’t pay worth the degree and effort. For example, the finance sector rewards freshers with the highest packages, while the business sector offers better longevity. Management colleges in Mumbai offer a competitive study of placement offers within all specializations. While sticking to your interests is rather essential, it is also advisable to understand the employability prospects of the said specialization.
Summing Up
There are many leading specializations that can translate into a rewarding career and stable life. When picking a specialization, balance out your area of interest with the lucrative potential of the field. Having the full knowledge of specializations is essential to making the right decision for yourself. Good luck!
