Master’s in Business Administration or MBA is an internationally recognised degree that is intended to develop skills required for careers in business and management. It is a post-graduate degree that regardless of the specialisation has great scope and opens up exciting career prospects for the pursuers. Students after successful completion of the course gain conceptual, theoretical, and practical training in different areas of business such as economics, accounting operations, marketing, finance among others. The MBA degree is imparted with various specialisations. Over 30 MBA specialisations are being offered by management institutes in India. Numerous factors influence one’s decision regarding the area in which they wish to specialise. Choosing the right specialisation can be a daunting task for most candidates. Scope of the specialisation, long-term career goal of the candidates, the curriculum of the specification among other factors are kept in consideration. To assist students, here we have identified the top 5 paying MBA specialisations in the country ranked by graduates’ typical mid-career earnings:
MBA in Financial Management
MBA in Financial Management is one of the most sought-after MBA specialisations. It allows candidates to focus on planning and controlling the financial resources of any industry. The course emphasises communications, organisational behaviour, and business leadership. Candidates learn about corporate investment management, portfolio management, global finance, fixed income securities, macroeconomics among other important financial topics.
This degree can pave the way for a successful career in investment banks, insurance firms, and other corporate ventures. Postgraduates can be hired as Cash Manager, Risk and Insurance Manager, Investment Banking Associate, Treasurer among other lucrative career options.
MBA in Marketing Management
MBA in Marketing Management is a renowned stream that MBA offers. An MBA in Marketing Management provides insights into different key areas of every organisation or corporation. This includes promotion management, consumer behaviour, brand management, advertising, digital marketing, and selling strategies. The marketing department of any organisation is responsible for bringing in new businesses, generating greater revenue, increasing market share, and contributing to the company’s growth and profitability. Marketing Management is a vast field with several sub-sectors. With this degree, candidates can work in a variety of roles in any industry or organisation. Some of the prominent ones being Marketing Manager, Marketing Research Analyst, Media Planner, Digital Marketing Manager, among others.
MBA in Entrepreneurship
An MBA in Entrepreneurship is a traditional Master of Business Administration (MBA) programme with a concentration in entrepreneurship. It is a well-known specialisation of MBA. This course is meant to equip students with the necessary knowledge, skills, and networks required to become entrepreneurs and innovators. The curriculum is designed for aspirants who wish to become successful entrepreneurs. The curriculum familiarises students with concepts of product/service development, venture creation, and business management.
After successful completion of the course, students can start their entrepreneurial venture or work in fields such as marketing, sales, advertising in positions such as Financial Manager, Marketing Manager, Business Consultants, New Venture Developers among others.
MBA in Human Resources Management
One of the most popular MBA specialisations in India. MBA in Human Resources Management imparts knowledge and training to candidates related to managing the workforce of any organisation. It is one of the most demanding specialisations these days as every industry needs skilled HR professionals to manage the workforce, develop and manage the culture of a company, recruit suitable candidates as well as retain them. The curriculum trains student’s skills such as workforce regulation, performance assessment, compensation strategy, safety, and welfare assessment.
This MBA specialisation allows candidates to work in different settings like industries, educational institutions, the corporate sector, and so on. It allows candidates to take up work in several profiles such as HR Specialist, Technical Recruiter, Employee Relations Manager, Employment Manager, Compensation Manager, Staffing Director among others.
MBA in Logistics and Supply Chain Management
MBA in Logistics and Supply Chain Management is an exponentially growing field owing to the boom in the e-commerce industry in recent years. MBA in Logistics and Supply Chain Management focuses on building analytical and managerial skills in the field of logistics and supply chain. Managers in the supply chain sector ensure that products and services reach the consumers who have asked for them. They oversee the manufacturing, distributing, and overall handling of products and manage all operations related to the count and supply of the products that an organisation or company deals with.
It is a flourishing industry that offers amazing job opportunities. Candidates can work as Supply Chain Manager, Logistics Coordinator, Business Manager, Commercial Manager among others.
Regardless of whichever specialization one chooses, no doubt pursuing an MBA course means access to a more diverse and broad range of opportunities. Each MBA specialisation has its advantage and salary package, so the choice of which specialisation to go for should depend upon one’s interest in that particular field. The focus should not be just on the salary package or easy academic studies. The major emphasis should be the area of interest one loves or wishes to be in.
