Details About Different Specializations in MBA

Different Types of MBA Specializations in India

There are different types of MBA specializations. The most popular specialization is the two-year full-time MBA program. There are other short-duration executive specialized programs that are of usually one year. Here are a few kinds of specializations that one must know while choosing a particular MBA specialization:

• Two Year Full-time MBA specialization- This is the regular MBA with 2nd-year specialization based on different functions. For instance, MBA in Finance offered by IIM Kozhikode, MBA in HRM is offered by XLRI, IIM Indore and many more. There are different full time MBA specializations offered by different B-schools of India.

• One Year Full-time specialized MBA or Post-Graduate Certificate Program- This is a one year specialized program that a candidate can opt for if he/she has to acquire specialization in less time. B-schools like IIM Bangalore provide MBA in Public Policy and Great Lakes provides MBA in Business Analytics for one-year period.
• Executive/Part time specialized Programs- There are top-B schools across India that provide executive specialized programs that lead to professional development of the individuals. Top B-schools like PGDM Data Science at NMIMS Bengaluru, PGDM (BA) by IMT-CDL provide executive courses.

Key Parameters to be kept in Mind while choosing MBA Specialization

There are a variety of MBA specializations in India. The candidates often get bewildered while choosing the MBA specialization. There are few parameters on the basis of which you can choose the apt MBA specialization that fits you.

• Aim and Interest: The most important thing is to have a clear aim while choosing an MBA specialization. The candidates must know their interest in which particular area they can do their best. If the candidate is passionate about making a career in a particular specialization, then he/she can opt for that program.
• Scope of the MBA specialization: Candidates should choose that specialization in which there is a wider scope of having a career in future. The MBA specialization should be such that it gives you better career options after completing the MBA.
• Have a check on the Ranking of MBA Colleges offering MBA Specializations: It is important to choose the MBA college that provides you the best opportunities while pursuing MBA. So, always go for the MBA colleges that are famous for their MBA specializations.
• ROI of the MBA specialization: Candidates should have pay scale at least twice the investment made on the MBA program. So, the candidates are advised to go for that MBA specialization that ensures the higher return on investment.
• Duration of the program: While choosing MBA specialization, the candidate often gets confused with the duration of the program in MBA and PGDM. So, it is advised to have a clear understanding between the MBA and PGDM and also, the duration of the MBA specialization program.

List of Top MBA Specializations in India

There are various MBA institutes in India that offer different specializations. It is important to choose the MBA specialization that fits you in your future goal. Here are few top MBA specializations in India that are listed below:

Top MBA Specializations and their key features

• MBA in Finance- MBA in Finance specialization is the most popular specialization in MBA as it has colossal growth prospects in future. It focuses on the planning and controlling of the financial resources across different sectors. It deals with the money market, privatization, banking, accounting and international finance. Candidates should have leadership, communication and mathematical skills to excel in the field of MBA in finance.

Some of the Top MBA colleges that offers specialization in Finance are:

• SP Jain Institute of Management and Research, Mumbai
• Xavier Institute of Social Service, Ranchi
• International School of Business and Media, Pune
• Narsee Monjee Institute of Management Studies, Mumbai

After finishing MBA in Finance, the candidates would have the following career options like Corporate Banking, Asset Management, Corporate Finance, Stock Market and many more options. There is a large scope in Finance specialization. Top recruiters that visit MBA institutes for the students are Goldman Sachs, JP Morgan, Morgan Stanley, etc. 

• MBA in Marketing- This specialization is famous for fulfilling the needs of consumers in the marketplace. It tries to transform the consumer needs into services and products that the company can bear and offer market resources profitably. The skills required in this specialization are interpersonal, strategic and entrepreneurial skills. The candidates must possess these skills in order to be pro in this specialization.

Top MBA institutes that offers specialization in Marketing are:

• IIM Ahmedabad
• IIM Calcutta
• SP Jain Institute of Management and Research, Mumbai
• Institute of Public Enterprise, Hyderabad

Top recruiters that offer jobs in marketing management are Sony, Exim, TCS, Cognizant Technology, etc. They offer job roles like Marketing Manager, Corporate Scales, Brand Manager, Digital Marketing and many more job roles. So, students can opt for this specialization if they have interest in marketing management.

• MBA in Human Resource Management- This specialization deals with the management of the human resources that leads to the development of the company. This program teaches you about the recruiting, team building, benefits and increments and performance updates of the company. If the candidate has good communication skills and can manage the difficult situation in a composed manner, then he/she can easily go for it.

Top colleges offering MBA in HRM are:

• XLRI, Jamshedpur
• Management Development Institute, Gurgaon
• Tata Institute of Social Sciences, Mumbai

After completing an MBA in HRM, candidates can easily find jobs like HR Assistant, Technical Recruiter, Human Resource Manager and many other jobs. Top recruiters that visit colleges are Mercer India, Adecco India, Randstad and Kelly Services India. 

• MBA in Business Analytics- In this kind of specialization, the students are taught how to make business strategies on the basis of the data provided. The students are taught how to deal with the large amount of data and create strategies that result in the growth of the business.

The top MBA colleges/universities in Business Analytics are:

• IIM Bangalore
• Versatile Business School
• International Institute of Business Studies

Candidates need to analyse their career goals before choosing any particular specialization as these are the key roles that align your future.  Career options after completing MBA in BA are SAS program, Market Research Analyst, Data Mining Expert and many other options.

• MBA in Operation Management- It focuses on delivering the value products to the customer keeping in mind the quality, productivity and cost of the product. It teaches you how to effectively manage the process behind the successful production and distribution of the product in an organisation.

Top colleges that offers Operations in Management Specialization are:

• TAPMI, Manipal
• Great Lakes Institutes of Management
• Indian Institute of Social Welfare and Business Management 
• Narayana Business School, Ahmedabad

There are various career options in the field of Operation Management like Retailing, Management Consulting, Manufacturing, Logistics, and many more. Candidates can go for this specialization if they have keen interest in this course.

• MBA in Entrepreneurship and Family Business Management- MBA in Entrepreneurship and Family Business Management offer opportunities to the students who wish to expand their business after completing their studies. If they opt for this specialization, they get proper training of how to venture into entrepreneurship and what should be the qualities one should have while procuring the family business. 

The Institutes that Offers MBA in Entrepreneurship are:

• IIM Bangalore
• SPJIMR, Mumbai
• NMIMS, Mumbai
• Indian School of Business Studies

Before venturing into any specialization, first conquer the key points of a particular specialization that would help you to create your future. After analysing your interests, go for it and start preparing for the MBA exams.

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