Top MBA specializations in India; How to choose the right MBA Specialisation

Top MBA specializations in India: An MBA specialization is a concentration in a particular area of ​​business, such as finance, marketing, human resources or operations. MBA specialization allows students to focus their studies on a specific area of ​​interest and learn the skills and knowledge necessary to pursue a career in that field.

To meet the industry demand for elite talent, MBA specialization in various sectors and functions such as Finance, Marketing, Human Resource Management, Business Analytics, , International Business, Banking & Finance, Healthcare, Operations, Insurance and more is being offered by MBA and PGDM colleges and you need it to Choose which MBA specialization best suits your career goals

The MBA specialization offers a wide range of high-profile and prestigious job opportunities. MBA and PGDM are also offered with dual specialization which offers better job options, versatility and higher job security. The average salary of MBA specializations ranges between 4.5 to 36 LPA depending on several factors. Currently MBA Finance is the highest paid MBA specialization in the world.

The MBA curriculum of each specialization is different and students should do research beforehand before choosing an MBA specialization. Getting the right MBA specialization is a great way for interested students to advance their careers and achieve their desired goals.

Why should choose MBA specialization?

There are many reasons why students should choose the MBA specialization. There are several most common reasons include:

There are several prevalent factors that contribute to this phenomenon.

To target specific areas of interest: MBA specializations allow students to focus studies on one MBA specialization to gain the management skills and knowledge necessary to pursue a career in that field.

Enhances career opportunities: MBA specialization enhances career opportunities by giving the required skills and knowledge to the employers.

Attractive Salary: MBA specialization increases the earning potential as the skills of the graduates are specialized in one area which makes them experts in the field.

Competitive Edge: Job seekers can gain a competitive advantage by specializing in an MBA, which will set them apart from others in the job market.

How to choose the right MBA specialization?

Choosing the right MBA specialization can be a difficult task, but it is important to do due diligence while choosing an MBA specialization. Top B-schools in India like IIMs allow students to choose their specialization at the end of the first year.

However, many colleges require students to choose their specialization on the day of admission itself. This is why students should do research beforehand. Here are some tips for choosing the right MBA specialisation:

Interests and Goals: A person's interest is a strong driving force, hence it is essential that the student's interest should align with the MBA specialization.

Research: Students can find the MBA specialization of their interest by researching all the MBA specializations. This will let them know how one specialization differs from others.

Long Term Career Goals: If the student has already discovered his interest and has a long term goal in mind then his MBA specialization should be in line with his interest.

Work Experience: If the interested candidate is an experienced professional and has prior work experience, their previous field should match the MBA specialization if they are not looking to change fields.

Different types of MBA specializations in India:

CareerMantra.Org classifies MBA specializations into the following different types. The most popular in the list of MBA specializations in India include two-year full-time MBA programs. Online MBA and Short-term specialized Executive MBA programs to acquire specific industry relevant skills are also becoming popular.

1. Two-Year Full-Time MBA Specializations

Regular MBA with 2nd year Specialization based on Function (For example: MBA with Marketing specialization offered by IIM Ahmedabad, IIM Calcutta, FMS Delhi and all MBA/PGDM colleges). This particular MBA specialization is the most common MBA specialization in India.

MBA in Finance offered by IIM Kozhikode; MBA in HR offered by XLRI, IIM Indore; or MBA in International Business offered by IIFT and many IIMs, IITs and other top B-schools offer this particular MBA in Finance specialization.

Specialized MBA on any industry specific sector (for example: MBA in Banking & Financial Services by IMI, MBA in Insurance by NBA and BIMTECH or MBA in Healthcare by IIM Calcutta and GIM Goa or MBA in Oil & Gas by UPES Dehradun)

Specialized MBA on particular interest (for example: MBA in Entrepreneurship or MBA in Family Business Management offered by EDII Ahmedabad and top B-schools)

2. One-Year Full-Time MBA Specializations

1-year full-time specialized MBA or Post Graduate Certificate programs from top B-schools like MBA in Public Policy at IIM Bangalore and MBA in Business Analytics at ISB Hyderabad and BITS Pilani.

3. Executive/Part Time/Hybrid or Online Specialized MBA or Certificate Programs

Top B-schools and universities like ISB (Advanced Management Program in Business Analytics), PGDM Data Science at NMIMS Bengaluru, PGDM (Business Analytics) by IMT-CDL or MSc Business Analytics by BITS Pilani, MBA in Events Management and MBA in Airlines & Airport Management at Chandigarh University.

Given the variety of MBA specializations, universities and MBA colleges have started offering over 150 MBA specializations! In January 2020, the All India Council for Technical Education (AICTE) took measures to prevent confusion by naming all specializations into 73 different categories. All B-schools have to follow this guideline.

List of Top MBA Specializations in India

The list below of top MBA specializations includes MBA specializations at IIMs and other MBA colleges. It depends on various factors how to choose MBA specialization as explained in this article. Moreover, which specialization is best in PGDM or MBA can be decided as per your interest, goal and capability.