Types of MBA Specializations You Can Study;- People that want to succeed in life and aren’t afraid to take risks and shoulder responsibility find the business sector to be quite alluring. The following are some benefits of earning an MBA, regardless of whether you intend to run a global firm or launch your own business:
- gain more knowledge
- improve your abilities
- meet entrepreneurs and businesspeople who share your interests
- learn to look at situations in business from several angles.
Different Types of MBA Specializations You Can Study in 2022
Courses in finance, marketing, management, strategy, economics, and other subjects are offered in general or standard MBA programs. They use a comprehensive approach rather than concentrating on just one thing. Your teachers want to help you become a better businessperson or businessman overall and provide you the tools you need to advance in your career.
But what if you want to enroll in an MBA and specialize in a field like finance or marketing? Can it be done?
Yes! There are several specialized MBA courses available that are developed to advance specific talents that are important in your chosen field of business. Some of the most common MBA specializations are listed below:
- General Management MBA
- Marketing MBA
- Human Resources Management MBA
- consulting MBA
- Entrepreneurship MBA
- A finance MBA
- Operations Management MBA
- management information systems master’s degree
- Global Management MBA
- Engineering Management MBA
- Technology Management MBA
1. MBA in General Management
Popular MBA programs in general management instruct students in critical thinking, problem-solving, and risk management. Future graduates can fill management or administrative jobs in a variety of organizations thanks to these talents (private, public, NGOs).
Professional Development, Business Analytics, Project and Quality Management, Marketing Management, Economics for Managers, Organizational Behaviour, etc. are a few of the courses you’ll take. You can submit applications for a range of managerial and executive positions following graduation:
- Manager of Business Development: 72,100 USD annually
- Manager of Real Estate: 77,100 USD annually
- Manager of Risk Management: 94,100 USD annually
2. MBA in Marketing
If you’re interested in a managerial or administrative marketing role, an MBA in marketing is a fantastic choice. The Marketing MBA emphasizes on your marketing-related skills and knowledge while also including general business courses.
Marketing research, branding, advertising management, product development, digital marketing, etc. are typical topics. Several positions are open to you once you graduate. Here are a few well-known instances:
- Manager of Marketing: 64,850 USD annually
- Director of Market Research: 79,000 USD annually
- Director of Sales: $91,950 annually
It takes one to two years to earn a marketing MBA. Examine online MBAs in Marketing if you are unable to enroll in a conventional on-campus program.
3. MBA in Human Resource Management
Undoubtedly one of the most popular MBA specializations is human resource management. With an MBA, students can advance their knowledge of human resources while also learning more about administration, strategy, and other business-related topics.
Organizational behavior, negotiation, business law, managerial finance, and other topics are common electives for an MBA in human resource management. Following graduation, you can apply for the occupations listed below.
- Manager of Human Resources (HR) – 66,900 USD annually
- Manager of Employee Relations: $75,400 annually
- Director of Human Resources (HR): 88,000 USD annually
The duration of an MBA in human resource management is one or two years. Additionally, there are online MBA programs in human resource management that let you manage additional duties and have a more flexible schedule.
4. MBA in Consulting
Traditional business courses are combined with classes in business strategy, organizational behavior, business communication, consulting, negotiations, ethics, and other topics in MBAs in Consulting. Students are better able to comprehend the effects of interpersonal dynamics and corporate dynamics thanks to this method.
People who like both oral and written communication, who are good listeners, and who understand how to evaluate activities and provide feedback are excellent candidates for consulting MBAs. You can obtain well-paying positions with an MBA in consulting, including:
- Manager of Business Development: 72,200 USD annually
- Business Advisor: 73,500 USD per year
- Consulting in management: 87,200 USD annually
An MBA in Consulting is usually completed in 1-2 years. If your schedule prevents you from enrolling in an on-campus program, look into online MBAs in Consulting.
5. MBA in Entrepreneurship
Entrepreneurship MBAs aren’t right for everyone. You must be extremely ambitious, persistent, and prepared to take on significant duties if you choose to launch your own business or manage a family project.
Entrepreneurship MBAs include classes in business innovation, generating start-up ideas, venture feasibility, sustaining a start-up, resource management, entrepreneurial strategies, as well as product design & marketing in addition to the regular business subjects.
After graduation, the majority of students either launch their own business or decide to apply their newly acquired knowledge and abilities to more effectively run their current start-up. You have a variety of job options if you desire to work for another organization. Here are a few illustrations:
- Consulting in management: 87,200 USD annually
- Senior Product Manager: 123,600 US dollars annually
- CEO (CEO) salary: US$156,900 annually
MBAs in entrepreneurship take one to two years to complete, like most MBA degrees.
6. MBA in Finance
An MBA in Finance may be the right choice for you if you wish to pursue a Master of Business Administration and appreciate dealing with numbers, budgets, and fine details.
Traditional business courses are combined with classes on fund management, investments, fundraising, portfolio management, corporate budgeting, investment analysis, etc. in this sort of MBA program. Following are a few of the most sought-after occupations for graduates:
- Financial Consultant – 58,800 USD annually
- Manager of Accounting – 71,200 USD annually
- Chief Financial Officer (CFO): 132,800 dollars annually
A Finance MBA will take you one or two years to complete.
7. MBA in Operations Management
Students who pursue MBAs in operations management refine their analytical abilities and learn how to employ mathematical models and systems. Future graduates will be able to lower production costs while improving the quality of goods and services thanks to this expertise.
You’ll enroll in some of the following specialized courses: Operations strategy, business analytics, mathematical modeling, data logistics, analysis, and interpretation For graduates with an MBA in operations management, the following positions are available:
- Analyst for supply chains, 59,900 USD annually
- Manager of Operations: 64,700 USD annually
- Manager of the Supply Chain: $82,200 annually
You’ll finish an Operations Management MBA in 1 or 2 years. Don’t have enough time for a traditional degree?
Check As Well: best business schools in the world 2022
8. MBA in Management Information Systems
Future graduates are taught how to build, implement, and use a variety of cutting-edge programs and systems that manage the steadily expanding amount of data used by businesses via MBA programs in management information systems.
Information gathering, archiving, and organization are done using management information systems (MIS). Users can produce extensive reports based on the analysis of this data, which they can then use to assess overall performance, implement adjustments, and solicit feedback.
Future graduates are taught how to create, implement, and operate a variety of sophisticated programs and systems that manage the steadily expanding amount of data utilized by businesses via MBA programs in management information systems.
Information is gathered, stored, and organized using management information systems (MIS). Users can produce detailed reports and utilize them to assess overall performance, make changes, and provide comments based on the analysis of this data.
You can anticipate taking courses in business analytics, electronic strategy and management information systems, data management, data visualization, risk management, and decision-making, among other topics, throughout a MIS MBA. Following graduation, you could become a:
- Analyst for business intelligence (BI) – 67,900 USD annually
- Consultant in information technology (IT) – 78,700 USD annually
- Manager of Information Systems (IS) – 83,400 USD annually
Most MBA programs in management information systems last one to two years to complete, while there are some that are longer.
Types of MBA Specializations You Can Study
9. MBA in Global Management
Another well-liked MBA specialization is the global management MBA (also known as the international management MBA). Courses emphasize teaching students about cultural diversity and how multinational and worldwide businesses must modify their strategies for various markets and nations.
You can anticipate studying topics like Business Analytics, Corporate Social Responsibility, Global Management, Global Economics, International Legal and Tax Framework, International Accounting, and others in addition to the standard Business Administration classes. Following graduation, you have a wide range of employment options to select from, including:
- Marketing Manager – 64,850 USD/Year Another well-liked specialization among Masters of Business students is the Global Management MBA (or International Management MBA).
- Manager of National Sales, 83,000 USD annually
- 84,600 USD for a senior business analyst yearly
10. MBA in Engineering Management
Future engineers are taught how to make better business decisions by taking into consideration engineering principles, procedures, and systems in MBA programs in engineering management. From highly technical engineering domains, students learn how to examine various engineering solutions, assess risks, and put into practice solutions that enhance the performance of organizations. Types of MBA Specializations You Can Study
Research strategies, performance measurement, manufacturing techniques, product development, experience design, systems lifecycles, and other topics are available for research. Following graduation, you will have a wide range of employment options, including:
- Engineer, Project – 68,500 USD annually
- 79,500 USD per year for an engineering consultant
- Project Manager for Engineering – 92,300 USD annually
The typical length of an MBA in engineering management is one to two years.
11. MBA in Technology Management
Students who are passionate about technology and are aware of its potential, influence, and risks might choose an MBA in technology management. Future graduates of this type of MBA program learn how to develop innovative techniques for enhancing the effectiveness of businesses, goods, and services using software and hardware. Types of MBA Specializations You Can Study
In addition to the business and management courses you’ll take, you’ll also take courses on technological innovation, team building, professional communications, technology management, research & development (R&D), manufacturing strategy, etc. You have a range of career options after graduation, including:
- Consultant in information technology (IT) – 78,700 USD annually
- Manager of Product Development: 81,400 USD annually
- Head of Technology (CTO): 159,600 USD annually
Which is the best MBA specialisation?
You cannot say that one MBA specialization is the finest by looking at it. They all add value and support job advancement for businesspeople. You should probably try to determine which MBA degree will work best for your needs and ambitions. You might try responding to a few inquiries, such as:
- What professional move do I want to make next?
- Am I certain that I want to pursue this professional path? Do I desire a shift?
- Which MBA specialization can help me if I want a change?
- My budget and the cost of this MBA degree/specialization are they compatible?
- Will I simply be concentrating on my studies? Or should I continue working while I study?
- Is a part-time or online MBA degree flexible enough if I want to continue working?
- What are the opinions of other MBA graduates regarding this MBA specialization or degree?
If you’re not sure where to begin, check out these business schools for MBA programs:
- US-based Northeastern University
- the UK’s Hult International Business School
- Swiss Robert Kennedy University
- Norway’s BI Norwegian Business School
- University of Maastricht in the Netherlands
You should also think about the following excellent online options:
- Online at UK’s Nottingham Trent University
- the UK’s University of Birmingham Online
- Lebanon’s Lebanese American University Online
- Israel’s Tel Aviv University Online
- University of Maastricht in the Netherlands.