Top 5 MBA Specializations in India
MBA or PGDM, more than a degree it’s a skill. Some people will get management skill either by experience or by birth. MBA is an added advantage to improve the skills. The core fields in an MBA are Marketing, Finance, Human Resources and Operations. I will give you a brief idea on the top 5 MBA specialisations and what positions you will be getting in the corporates. While choosing your specialisations, please don’t go for what your friend has opted or what your relatives said, Think on your own and then decide which field you want.
Even though marketing and sales differ greatly, they have the same goal. Both handle very similar concepts and work together for sales to be successful. An MBA in marketing will help you enhance your skills & knowledge in the field of marketing, advertising, public relations etc. Marketing is the most common specilasation that is opted by many and have a huge scope as company needs sales for their existence. There will be targets for almost all marketing jobs. Your performance will be evaluated on the basis of the target achieved. Good incentives can be earned. Click here to find out the positions given to marketing professionals
An MBA specialising in financial management will focus on management accounting and control, the Indian capital and money market, banking, privatisation and international finance. many of you think that finance involve a lot of mathematics, but you are wrong, it includes mainly theory on financial management and market. There will be a lot of financial jargon to study. You will love it if you have interest or you will hate it. Your workplace will be banks, financial consultancies and financial institutions. There is a field in finance called as investment banking where you can mint a lot of money. Click here to find out the positions given to finance professionals in corporates,
Human resource management deals with everything around humans in a corporate like recruiting, training, team building, performance updates, employee policy, salary, benefits and increments, employee health and safety as well as staff amenities. If you’ve got good people skills and can handle tough situations well, you can go a long way in this field. Initially you need to work as a HR executive under an HR Manager and he/she will make you to do all their work. So it’s a tough job and not as easy as you think. There will be lot of situations where you need to take tough decisions. You will be the middle person between the employees and the top management. HR is a field that will be exciting if you are a people centric person. Your value increases depending on your experience. If you get in as a HR in a BPO firm, your primary job will be appointing and firing employees. The main roles in a corporate will be a HR executive, HR manager or a Public Relations Officer.
Operations Management is basically is concerned with managing and reducing the costs of operations of the business so that it reflect in the bottom line of the organization. So most of the jobs are about process improvement, process development etc. Also many jobs are offered for technology consulting field like ERP consulting and functional consulting. Supply Chain management, Logistics and Demand & Supply planning are some of profiles that are most sought after. Few get opportunities in the Analytics business as well. Operations management is the best specialisation if you have a technical degree like B Tech or B.E. As an operations manager you’ll be mostly recruited in an executive role and would be expected to fine tune the day to day business process or consult others regarding the same. It’s all about reducing the costs when it comes to operations management so you can expect a role wherever there is an opportunity to reduce costs no matter what the business.
- International Business
MBA in International business deals with Export and Import Management in which rules, procedures and documentation involved in exports and imports. International Marketing in which the student is taught the various methods of approaching customers in foreign countries to obtain orders from them. International Finance which deals with raising Capital from International Markets. International Logistics which deals with the distribution network for making the goods reach from the country of production to the foreign country. In essence, an MBA in International Business is equivalent to a normal MBA with additional inputs on fundamental theories and areas of International Business. There is a good opportunity in International Marketing Departments of Companies having exports aboard like Automobile Industry, Logistics and consultancies. As freshers you will be offered a position as management trainee and slowly you will be promoted.