04, October 2021
There is no dearth of employment opportunities for MBA graduates in India , in fact, all the top-level positions in high ranking companies and organisations are notably filled by skilled MBA professionals. This simple statement has a lot to say about the prospect of a job market available for MBA students in future. Being an already popularised course, people from all diverse backgrounds collaborate and network during their academic tenure leading to a wide pool of talents, broader thinking spectrums, thus leading to more creative ventures fueling the start-up culture. The compensation received after this degree is no less and ranges somewhere between 7-20L depending upon the educational institution, and the company a student is placed in. Most leadership roles are tapped by MBA professionals due to better knowledge, skill-set, and competencies about industry exposure. All this certainly makes MBA a very futuristic course and ensures its utility in the years to come across all industries and in all countries.
Out of the many, following are the 20 commonly known MBA specializations with expected course fees. The fees vary from college to college but majorly falls in the mentioned range:
|Sno.||Name of the specialization||Course Fee (in Rs.)|
|1||MBA in Marketing||3-10 Lakhs|
|2||MBA in Human Resource Management||7-12 Lakhs|
|3||MBA in Finance||4-20 Lakhs|
|4||MBA in Operations management||3-15 Lakhs|
|5||MBA in Information technology||10-15 Lakhs|
|6||MBA in Tourism management||2-15 Lakhs|
|7||MBA in Business analytics||6-20 Lakhs|
|8||MBA in Healthcare management||2-10 Lakhs|
|9||MBA in International business||Upto 50 Lakhs|
|10||MBA in Entrepreneurship and family business||Upto 20 Lakhs|
|11||MBA in Media Management||4-15 Lakhs|
|12||MBA in Hospitality Management||3-16 Lakhs|
|13||MBA in Infrastructure Management||Uto 10 Lakhs|
|14||MBA in Digital Marketing||Upto 20 Lakhs|
|15||MBA in Education Management||6-10 Lakhs|
|16||MBA in Textile Management||2-7 Lakhs|
|17||MBA in Supply Chain Management||3-15 Lakhs|
|18||MBA in Strategic Management||5-10 Lakhs|
|19||MBA in Agri-Management||3-12 Lakhs|
|20||MBA in Energy Management||3-15 Lakhs|
|1. Identify your interest||The specialization you pick in your MBA is going to be your future line of work. also to not digress much from your previous educational background, it is always a sound option to choose a work area you’ve graduated in. it is not mandatory but adds value to your experience and study nonetheless. For instance, if your graduation was in a medical course, say BDS or Biotechnology, then you could go for an MBA in Hospital and Healthcare Management if you so choose.|
|2. Check the scope and relevance||Estimating the scope of work after you complete your desired MBA specialisation is important because it defines the opportunities you will come across. Nobody wants to be in their mid-twenties and be stuck in the loop of monotony, which means the scope is as vital as anything else. For relevance, students should pick a specialization that is important in current times as well as the future, just because a particular course has been in popular demand in the past doesn't mean you should go after an outdated curriculum because somebody ‘told you so.’|
|3. Find what’s important for you- salary, experience, passion, growth||Different people have different goals and outlooks. What’s important to you now may or may not be as important to your peers. Similarly, when it comes to career goals, choose what matters the most to you. For example, the salary of a Media Management Professional might be scaled less for now, but in the coming times, the media takeover is supposedly going to be insane, meaning heightened growth potential. On the other hand, doing an MBA in Finance yields a higher salary right from the get-go. What's your catch?|
|4. Future demand||Ask yourself, do you see yourself working in the same line say 10 years down the line? Would you still have that job you were excelling at? Sometimes people run after a degree or a particular course just because it gains a little traction in the current times. Trends are temporary, students should aim for choosing a specialization that aligns with their long term career goals and is futuristic.|
What makes an MBA specialization stand out is the relevance it has on the current market trends. While the post-pandemic job market was expected to see a slump in the prospects available for fresh graduates, quite the opposite of it has happened. Everything from education to work shifted online, and the world was not ready for this transition. Some of the people faced troubles adapting themselves to this technological shift, which could only be compensated by an influx of more trained and computer-adept people in companies. Keeping in mind this relevance and need, the top three MBA specializations that are currently the most in-demand are:
Reason For Popularity: Digital marketing is rightfully called the future of marketing as if demand in the last 5 years has risen significantly. The demand for Digital marketers barely meets the supply of qualified professionals that can handle online ventures. An added advantage of choosing digital marketing as your specialisation is that you have options such as personal branding freelancing blogging and much more to pursue along with a management job. More the scope, more the monetary benefit.
Reason For Popularity: Finance is the one specialisation which has its roots in all industries. The reason behind the popularity of an MBA in finance is that the job market will always be so vast and diverse at the same time. Even when we consider corporate finance there are options like investment manager, financial analyst, and so many more that offer stability and increase your financial Acumen. Learning how to manage money keeps your personal financial goals in place as well and offers long term financial stability in life.
Reason For Popularity: Human capital is deemed the most vital component of a successful company. Every established company will always have a dedicated team of professionals working towards creating a skilled and trained workforce that'll eventually add value to the company. This means the job demand will always be high, followed by no restriction of an industry. Students can try their hands in whichever sector they like and there will be guaranteed numerous opportunities, adding to the job security.
Ask yourself, do you see yourself working in the same line say 10 years down the line? Would you still have that job you were excelling at? Sometimes people run after a degree or a particular course just because it gains a little traction in the current times. Trends are temporary, students should aim for choosing a specialization that aligns with their long term career goals and is futuristic. While there is no correct answer to which MBA specialisation is the best of all, the answers are subjective and stem from personal and professional differences of individuals. In this article, we have listed down the top 20 MBA specializations of all times along with their course fees per year. The fees bracket is usually in thousands for government universities and lakhs for private ones. Using the pointers given in the article, students can also analyse the best MBA specialization according to suitability. So get that motivation-train moving and pick your best!