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MBA degrees are one of the most sought-after degrees in the world. Industry leaders across the globe are hiring MBA grads by the thousands. Additionally, CEOs of the world’s largest organizations have MBAs like Walmart CEO Douglas Mcmillan, Apple CEO Tim Cook, Google CEO Sundar Pichai, and JPMorgan Chase CEO Jamie Dimon. In addition, notable personalities like Dr. Oz, George W. Bush, NBA star Shaq, Nike founder Phil Knight, and Facebook COO Sheryl Sanberg all have MBAs.
MBA degrees can benefit students looking to start a career in the corporate world. It provides you with everything you may need to understand business. Most programs cover marketing, finance, strategy, accounting, and crucial management topics.
There are also MBA programs that concentrate on a specific topic mentioned above. These programs can allow you to become an expert in your chosen field.
In this article, we will be discussing
- What an MBA specialization is
- How you can figure out which MBA specialization suits you
- Which are the best MBA specializations
What is an MBA Specialization?
MBA specializations are also known as MBA concentrations. They allow you to become an expert in a particular industry.
A traditional two-year MBA will focus on the core subjects in the first year. In the second year, you will focus on specializing through electives that concentrate on a specific topic like finance, marketing, management, etc.
Another thing to remember is that you will have to take a Graduate Management Admission Test exam before getting into business school. GMAT exams determine a student’s aptitude in maths, verbal skills, and analytical writing. Business schools around the world use GMAT scores. However, you can Skip the GMAT for an MBA Degree with SOSU Online and complete it from the comfort of your home.
How to Choose an MBA Specialization?
Before proceeding, you must know how to choose an MBA specialization that is best for you as there are various options to choose from. We have a few tips that can help:
- Note down your interests: Ask yourself why do you want to pursue an MBA. What dreams can you accomplish by getting an MBA?
- Plan Your Career Path: Where do you see yourself after completing your MBA? Five years or ten years after completing your MBA? Planning your career path beforehand can help you make a sound decision when choosing an MBA specialization.
- Figure out your strengths: Write down your strengths and use the list to find an MBA program that nurtures them.
- Research: Do research on the latest sub-specializations which you can benefit from.
With that said, let’s talk about the best MBA specialization.
Which Are The Best MBA Specializations?
As previously mentioned, there are numerous options available for you. Every specialization mentioned in the article offers varied benefits, and you should choose one that suits you.
MBA General Management
The MBA general management specialization degree covers topics you need to become the ideal manager. It covers many topics, including management principles, financial management, business environment, human resource management, marketing research, communication skills, leadership skills, and business laws.
A traditional MBA already covers these topics, so an MBA general management concentration allows you to build skills you learned even further. It has electives like people management, operations, and digitalization.
After graduating, you will have a variety of roles to choose from:
- Management consulting
- Investment banking
- Branding
- Operations Management
- Human Resources
- General Management
- Portfolio Management
- Venture Capital
Therefore, an MBA general management is an outstanding choice that allows you to have multiple options at any time.
MBA Finance
MBA finance is an ideal program for those who aspire to become bankers. It can help you land illustrious job offers from the likes of Goldman Sachs. If you want to learn more about what hiring managers at Goldman Sachs look for in MBA grads, this article can help.
Most MBA finance concentrations cover topics such as asset management, fintech, controlling strategic and financial risks, and how to value companies.
You will also learn:
- Corporate investment management
- Portfolio management
- Hedge fund management
- Small business and corporate finance
- Investments
- Securities analysis
- Borrowing
- Fundraising
- Collections
- Disbursements
- International finance
- Volatility
- Fixed Income securities
- International markets and macroeconomics
After graduation you can work in the following roles:
- Financial manager
- Investment banker
- Financial analyst
- Auditor
MBA Marketing
A career in marketing sounds appealing to most. If you are interested in pursuing a career in marketing, then an MBA marketing concentration is a good choice.
It covers core subjects like:
- Big data
- Consumer Behavior
- Marketing analytics
- Product design
- Market analysis and research
- Pricing Strategy
- Distribution
- Sales
- Brand management
- New product development
One of the appealing aspects of marketing is that it is not limited to one field. It is applicable across most industries. After graduating, you can choose whichever industry suits your interests. Lastly, if you already have an industry in mind, your MBA marketing specialization can help you focus on it and become an expert in it.
After completing your degree, you have many career options to choose from:
- Marketing manager
- Brand manager
- Corporate Sales
- Media planner
- Media strategist
- Media manager
- Product Manager
- Head of Digital Marketing
- Analytical Marketing
- Competitive Marketing
MBA Business Analytics
Analytics is a fast-growing field with immense growth opportunities for competent professionals. An MBA business analytics concentration is an ideal choice if you are interested in this field.
The program, at first, will focus on core business subjects such as:
- Management
- Leadership
- Economics
- Finance
- Marketing
- Operations management
Afterward, you will learn how you can:
- use data to implement data-driven decision making
- study the impact of advertising on sales
- use historical data to predict stock returns
- analyze a company’s performance using key performance indicators (KPI)
In addition, your MBA business analytics concentration will cover topics such as:
- Data mining
- Data visualization
- Trading strategies
- Risk management systems
- Customer insights research
Lastly, after completing your program, you will have the following career options to choose from:
- Marketing manager
- Personal financial advisor
- Financial analyst
- Management analyst
- Business intelligence analyst
- Business Analytics Specialist
- Management consultant
- Operations analyst
Conclusion
MBA degrees are the world’s most popular degrees. It makes sense because top firms across the globe are hiring MBA grads by the thousands. Along with a traditional MBA, business schools around the world offer MBA specializations programs that enable you to become an expert in your chosen field. The best MBA specializations are MBA in general management, finance, marketing, and business analytics. Graduating from these MBA specializations programs can help you cultivate a coveted career and achieve your dream life.
