List of MBA Specializations: Which One Should You Do?
List of MBA Specializations: Which One Should You Do –
MBA is one of the most popular postgraduate programs in India. Doing an MBA can help you open doors to new opportunities and make it easier for you to climb the corporate ladder.
Like every other course, MBA courses have evolved with the changing times. Nowadays, Distance MBA programs offer a variety of specializations to suit your needs and aspirations.
In our following list of MBA specialization options, you can see the different specializations you have and how their scopes differ while getting an MBA.
How to choose MBA specialization?
Many students and professionals worry about choosing the right MBA specialization for themselves. However, the process becomes relatively easy if you break it down into steps.
To choose the right specialization for your career, you should keep the following points in mind:
1. Your interests and strengths
Everyone has some strength, and so do you. Focus on identifying your strengths and the domains in which you excel. Once you have identified your strengths, you should focus on choosing a specialization that aligns with them.
2. Payment Offered
Always check the career scope and salary package before choosing a specialization profile. This information will help you make a detailed career plan for yourself and help you decide what roles you want to take on after completing your distance MBA.
3. Employer
Knowing the major employers in an area will also help you choose your specialization. If you are interested in making a career in a specific company, then this information will come in handy for you.
4. Topics in the field
Once you have finalized a few options, you should check out the main topics offered under those specializations. That way, you can find out which domain matches your interests and choose accordingly.
The goal is to choose a specialization that best suits your career aspirations and interests.
Now, we will look at the most prominent MBA specializations available in our following list of MBA specialization options:
List of MBA Specializations
1. MBA in Business Analytics
Business Analytics has become one of the fastest-growing sectors in India. This field focuses on the study and implementation of continuous iterative exploration of past business performance to generate insights. It allows businesses to make data-driven decisions.
Business analytics enables companies to identify patterns in vast amounts of data that would otherwise have been invisible. They use these insights to create a better-informed plan for their operations.
An MBA specializing in Business Analytics will teach you the fundamentals of business analytics, the techniques you will use in this field, and other related concepts.
We offer MBA with specialization in Business Analytics course. The program offers 200+ hours of live faculty interaction and business simulation from Harvard Business Publishing.
Salary
The average salary of a professional with an MBA in Business Analytics is INR 5.59 Lakh per annum. Your salary in this field depends on many factors including your experience and location.
Career opportunities
With an MBA in Business Analytics, you will be eligible for management and leadership roles in a range of companies such as Chief Analytics Officer (CAO), Head of Analytics, Chief Data Officer (CDO). More importantly, you can apply for senior business analysis roles with this qualification.
For example, you can become an Analytics Manager whose average salary in India is INR 16.89 LPA.
Eligibility
To be eligible for this course you must have a bachelor’s degree (10+2+3) in any discipline from a recognized university with at least 55% marks and 3+ years of professional experience. OR, You must have a Bachelor’s degree (10+2+3) in any field from a recognized University with minimum 55% marks and Post Graduate or professional degree with 55% marks and 2+ years of professional experience.
2. MBA in Digital Finance and Banking
One of the most popular distance MBA specializations is finance. MBA in Finance will help you to make a lucrative career in the finance sector.
The market size of the Indian finance sector has expanded significantly over the years. For example, the first-year premium of life insurance companies reached INR 2.59 lakh crore in FY20.
Our MBA in Digital Finance and Banking program will inform you of the latest skills and technologies employed in the finance sector. Some of the topics you will learn in this program are artificial intelligence in business, financial management, risk analysis, data visualization in finance, etc.
Salary
The average salary of a professional with an MBA in Finance is INR 7.18 Lakh per annum. Major employers for this qualification are ICICI Bank, Accenture, EY (Ernst & Young), Tata Consultancy Services and HDFC Bank.
Career opportunities
After completing this program, you can make many careers in the finance sector. You can become a finance manager or financial analyst and hold senior roles in banking, insurance, startups and fintech.
Eligibility
You must have a Bachelor’s degree in Science/ Engineering/ Commerce/ Mathematics/ Business Administration with passing marks. Preference will be given to candidates with work experience, but it is not mandatory.
The following entrance tests will be considered for relaxation based on marks and validity:
The exams valid for one year are CAT, MAT, CMAT, XAT, ATMA with 50% and above. The exams valid for five years (2016-2020) are GMAT, NMAT and GRE. If you haven’t taken any of these exams, you will have to appear for JMAT (Jindal Management Aptitude Test).
3. MBA with specialization in Digital Marketing
Digital marketing refers to the activities that are used to promote an organization online. It is a fast-growing field, and an MBA in Digital Marketing will help you build a career in Digital Marketing.
The increasing use of the Internet and social media has accelerated the demand for digital marketing professionals. Organizations rely on digital marketing professionals to reach new audiences, generate more customers, and promote their products (or services).
We offer MBA with a specialization in Digital Marketing with MICA and Deakin Business School. Topics you will learn in this program include leadership, SEO (search engine optimization), business strategy, content marketing, branding, business development strategies, marketing analysis, and more.
Salary
An MBA in Marketing attracts an average salary of Rs 7.32 lakh annually. Like most fields, your salary in this field will depend on several factors such as your skills and the location you work in. Some notable companies in which you can work with this degree are Kantar, Flipkart, American Express, Fractal Analytics, and Zivam.
Career opportunities
With an MBA in Digital Marketing, you will be eligible to apply for marketing roles in various organizations. Major careers for professionals with MBA in Digital Marketing are Digital Marketing Manager, SEO Consultant, Analytics Manager, Content Manager, Digital Director, CRM Manager etc.
These roles also attract attractive salaries. For example, the average salary of a Digital Marketing Manager in India is INR 5.4 Lakhs per annum, and it goes up to INR 10 Lakhs per annum.
Eligibility
For this program, you must have a bachelor’s degree with minimum 50% marks. You will also need a combined three years of relevant work experience in business-related roles in areas such as strategy, financial management, people management, planning, project management, sales and leadership roles.
4. MBA with specialization in Human Resources
Another trendy distance MBA specialization option is Human Resources or HR for short. Human resource refers to the workforce of an organization or industry.
Utilizing the human capital available to an organization is a difficult task and requires expertise and effort. Therefore, companies entrust human resource specialists to manage this aspect of their organization.
The program features 20+ industry projects that allow you to test your theoretical knowledge.
Salary
The average salary of a professional with an MBA in HR is INR 6.35 Lakh per annum.
Some of the most leading employers for experts with this qualification are EY (Ernst & Young), Tata Consultancy Services, Capgemini, Larsen & Toubro Limited, and IBM India.
Career opportunities
With an MBA in HR, you can apply for HR roles in companies in various industries like banking, finance, healthcare, technology, manufacturing, etc. Equipped with an MBA degree, you can land roles such as HR executive, HR manager, or senior. HR Associate.
For example, you can become a Human Resource Manager whose average salary in India is INR 6.97 Lakhs per annum and goes up to INR 20 Lakhs per year. Similarly, you can also opt to become an HR Generalist whose salary is INR 7.9 Lakhs per annum.
Eligibility
To be eligible for this program you only need to have a bachelor’s degree with a minimum of 50% in the marketplace and at least two years of full-time work experience.
All of the courses we’ve shared above provide access to our Student Success Corner, where you get dedicated mentorship, interview preparation, and personalized resume feedback to help you jump-start your career quickly.
Conclusion
While there are many specialization options for MBA, at the end of the day, the choice mainly depends on your interests and career goals. If you are confused between the two fields, then you should do thorough research on both of them and see which career offers better prospects. Understanding the scope of each area will help you determine which area will be more beneficial to you.
