At the age of industrialization of United States of America, the necessity of trained professionals to handle the business and finance of the companies led to the origin of a new degree, MBA (Masters of Business Administration). The perks of an MBA degree is that it offers a great insight into the business world and its framework to professionals in of varying fields. In this article we will be discussing about the top 5 MBA specialization programs and more.
Students opting for MBA are trained in particularly one subject and gain a specialty in the respective subject. Then further they practice what they have learned by seeking internships in their final year.
In order to get admissions in Best B-schools in India candidate has to clear any of the following exams:
Though there are dozens of career prospects derived from an MBA degree, a few prominent ones are:
- Business Analyst
- Financial Analyst
- Founder/CEO
- Portfolio Manager
Generally, MBA is a 2 year integrated program wherein the first year goes in seeking expertise in the knowledge of business administration then according to interests and skills students opt for their field of specialization in the 2nd year.
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MBA Specializations in India
There are 5 major MBA specialization programs –
- Finance
- Marketing
- Information Technology
- Operation
- Human Resources
The above-mentioned specializations are discussed comprehensively below.
MBA Specialization in Finance
In Finance specialization, students are briefed on statistical analysis, leadership, economic strategy and basic financial knowledge about the business field. They have imparted knowledge of the financial aspect of the business and how to handle procurement issues of the business.
1)Pay Scale
MBA in finance opens the door to both private and government sector. However, the salary prospects might differ. The private sector offers more salary than government organizations do.
Different criteria’s of pay scale packages are displayed below:
- By Job
- By Employer
- By Experience
- By Cities
Some Best recruiters for MBA finance among all areas are as the following:
- Accenture
- Merrill Lynch
- Boston Consulting Group
- JP Morgan
- Barclays
- Deutsche Bank
2) Gender Ratio
The ratio of employment of girl candidates to boy candidates is substantially low in the finance sector. Females don’t really prefer the finance department whereas the male candidates opt mostly for this stream. The lower pay scale for female candidates could be one of the reasons for poor female employment in this sector.
3) Job Prospects
- Investment Management,
- Taxation and Tax Planning,
- Corporate Valuation,
- International Finance, Management Control System,
- Insurance Management
- Financial Statement Reporting and Analysis and Management of Financial Services
4)Why should you prefer finance as your subject?
The biggest crisis the world is facing is that of the financial crisis which in turn demands skilled financial analysts. The financial department is the most sought stream as the demand has increased exponentially. It is one of the highest paid profession and students land themselves in top-notch companies. It’s mostly a desk job and doesn’t require much of traveling around. Students get to work alongside the CEOs, VPs, and several top managerial professionals; this facilitates a great learning base and boosts their career.
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MBA Specialization in Marketing
Marketing majors help in the understanding the market and its fundamentals. Students can take it as a double major with a choice of another subject alongside. A company needs a good advertising and increased sales. The Marketing majors are given extensive training in these fields.
1)Pay Scale
Different criteria’s of pay scale packages are displayed below:
- By Job
- By Experience
- By Cities
- By Employers
2)Gender Ratio
Female to Male employment ratio here is very low as the Marketing job includes going out places and convincing people. Female keep their distance from this sort of profession as they have preferred desk job. Its underlying boundaries to some extent make them less favorable. Therefore the salary criteria have a minute difference.
3)Job Prospects
- Marketing Manager
- Brand manager
- Market Research Analyst
- Sales Manager
- Product Manager
4)Why should you prefer marketing as your subject?
Marketing makes you social and a down to earth person. If you love traveling this is the best job for you to choose as it involves a lot of moving around and traveling. It also helps you understand people more and their demands. Also, your communication skills are improved and the salary prospect is amazing. Companies demand their sales to be increased where a marketing expert can contribute to the scope is high in this field. It can also provide a lot of opportunities to meet new people and expand your circle.
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MBA Specialization in Operation
This field trains the students in operations specializations, students are trained with the requisite skill set to enter the industry. It helps in widening the knowledge of the student about the business field and develops leadership skills. It provides specialization in logistics i.e. cost effectiveness, data analyzing and decision making.
1)Pay Scale
Different criteria’s of pay scale packages are displayed below:
- By Job
- By Experience
- By Employer
- HCL Technologies Ltd. – Rs 222,571 – Rs 770,984
- Infosys Limited – Rs 543,622 – Rs 2,034,730
- com Inc – Rs 322,368 – Rs 813,892
- Hewlett-Packard Company – Rs 675,000 – Rs 1,850,000
- Capgemini – Rs 301,000 – Rs 1,350,000
- By City
2)Gender Ratio
Here also the Female to Male ratio is less simultaneously the salary of that of male candidates is high too. Due to this job hectic schedule and long working hours, female candidates prefer this job less than male candidates.
3)Job Prospects
- Distribution manager
- Plant/facility manager
- Warehouse manager
- Supply chain manager
4)Why should you prefer operations as your subject?
This major proves to be the backbone of the business. Here the candidates are trained to portray a layout of the business which is very vital. All the decision making and logistics work depend on the operation manager. The demand for this field is high as the business cannot work without a fully functional and operational operations structure. Candidates are provided with student exchange program and industrial trips for collaborations and learning process.
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MBA Specialization in Human Resource
In this specialization, Students are trained on how the staff should be managed, who all should be appointed, how to appoint new staff and how to train the staff. It basically trains the candidates upon the guidelines of human management. They are been imparted knowledge on how to deal with people and appoint them their workload. They are taught as how to manage the working staff to harness them to their maximum potential.
1)Pay Scale
Different criteria’s of pay scale packages are displayed below:
- By Job
- By Experience
- By Employer
- By City
2)Gender Ratio
In this specialization, the female to male gender ratio is quite balanced. Female candidates prefer this field as it attracts them the most due to smooth job experience, limited working hours and desk job. Females are regarded as the most understanding creatures thus this field works best for them. It doesn’t require much of a hectic work schedule and long work hours.
3)Job Prospects
- HR Generalist
- Staffing Director
- Technical Recruiter
- Employment or Placement Manager
- Director of HR Training and Development
- Organizational development and change consultant
4)Why should you prefer Human resources as your subject?
Human Resources provide a powerful job with less pressure and workload. Despite the less workload, it provides a great remuneration. It provides good interpersonal relations with the staff. It plays a strategic role in advancing candidates performance as they assess other member’s performance they tend to keep a check on theirs too.
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MBA Specialization in Information Technology
Information Technology students are trained in both technical knowledge and management skills. It guides the student to help the company in research and development department by teaching how to analyze and synthesize the technical backend of the company.
1)Pay Scale
- By Job
- By Experience
- By Employer
- By City
2)Gender Ratio
Here also the female to male ratio is low and the salary packages have a substantial difference too.
3)Job Prospect
- Business/IT alignment
- IT Governance
- IT Financial Management
- IT Service Management
- Sourcing
4)Why should you prefer IT as your subject?
By the end of your course, you’ll be able to analyze and work on the complex issues and you would be able to generate innovative solutions to the problems faced by companies. It opens a wide opportunity for you. You’ll be able to develop personally in the field if IT specialization and have command over the companies’ major issues and their solutions. You will work with the cyber cell of the companies and will be a vital part of policy-making and strategy implementation of the online domain of the company.
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VERDICT
[sociallocker]The key points that should be kept in mind while opting for the field of specialization in MBA are:
- Thoroughly analyze all the specializations
- Choose according to your graduation background
- Always choose the specialization according to your interests and comfort.
- You can also narrow down your interests and choices through Psychometric
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View Comments (1)
There are many benefits of doing an MBA. It gives you a better job, salary and work experience. But still some students are not able to get a good job after MBA. It can be done with the help of internship.