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MBA Specialization List | Study MBA Abroad Guide (2021)

By June 16, 2021June 27th, 2021No Comments
A Complete Guide To

MBA Specialization List

Chapter 1

Why Study MBA Abroad

The Master of Business Administration (MBA) degree has long been considered as the holy grail of graduate education. This is due to many factors like program rigour, stringent entry requirements, and enhanced job trajectories. Coupled with the above factors, when you add MBA education abroad, students are guaranteed a life changing experience. Universities abroad compete neck to neck to provide exemplary MBA curriculum, program features, and study experience, in order to attract the creme-da-la-creme of candidates. An MBA Fuels more jobs for international students in countries like the USA, Canada, Australia, UK, Germany. For more information about this check the section on career prospects. The table below provides a closer look at the biggest perks of choosing foreign universities for your MBA.

 Quality of Education

Universities abroad have curriculum that is very relevant to market needs, this includes technical acumen and essential soft skills required for managerial roles. Thereby students who pursue MBAs there have the advantage of knowing the pulse of the industry. Many MBA programs offer exchange semester opportunities with other top ranked institutions thereby enhancing the exposure students receive. Business schools also infuse practical internship/ consulting projects/ capstone projects/ apprenticeship options along with the MBA program, enabling the students to test their classroom knowledge

Global Career Trajectory 

The main impetus for candidates applying to B-Schools abroad is the dynamic job market there. Increased yearly earnings, ability to earn in dollars or a higher valued foriegn currency, improved career growth prospects, potential to diversify into leadership/ managerial roles, are all major driving factors that make pursuing MBA abroad highly attractive. Companies are in the look out for candidates with a  wide spectrum of past experiences that will complement the future role they can fill. All MBA programs expect their prospective students to have a substantial portfolio of prior career exposure. Hence such students after completing their MBA programs get absorbed quite quickly into the industry.

Personal Growth

Pursuing an MBA abroad is not just an indication of the individual’s intellectual attainment but also an evidence of the candidate’s personal growth. Being a part of a rigorous MBA cohort enhances individual world view and opinions on many subjects. MBA classes are very diverse with students from all over the world. They bring with them a mosaic of professional and personal happenings. These are valuable instances that peers can learn from while engaging with each other in the classroom. This type of interchange cannot be substituted in any other setting. This is what makes MBA schools remarkable. As many brilliant entrepreneurial plans are hatched while at B-school, discussing dynamic solutions with one’s peers.

Chapter 2

Popular MBA Specializations

MBA programmes come with certain curriculum specializations. Students can choose the majors as per their personal choice, future career ambitions, and past work experience. In order to appeal to a wider spectrum of prospective applicants and to keep the coursework modules in tune with the industry/economic trends, all b-schools offer an assortment of MBA concentrations. The traditional MBA in ‘General Management’, though still quite popular, has been nudged to make space for other budding streams such as marketing, information systems management, healthcare management, strategy & consulting management, etc. Particularly, in recent years, quantitative concentrations that are quite programming/ technology intensive have made their way to the list of MBA course syllabus. 

 

STEM MBA: In terms of the US STEM-OPT visa stipulations, certain MBA programs and their specializations will have the STEM classification as per their mathematics, programming, statistics, allied technology course load in their curriculum. Such concentrations include Finance (Quantitative Finance, Financial Analytics); Analytics (Data Science, Big Data Analytics); Marketing (Marketing Analytics, Consumer Science); Operations/ Production/ SCM/ Logistics Management; IT/Technology Management; Accounting, etc. STEM MBA programs assume more prominence due to the increased job availability and lucrative remuneration packages associated with them. Read our blog on MBA Job Prospects for more information. MBA aspirants must bear in mind that STEM pathways in MBA programs are not for everyone, meaning unless you have studied the prerequisites in terms of the math/statistics/programming/technology course load, already say in your undergraduate coursework or separately as certificate program, you cannot apply for the said STEM designated MBA courses.  

General Management:

This is the commonplace general management specialization. Also one of the popular MBA choices. Many candidates wishing to acquire a holistic view of general managerial principles take on this major.  This versatile MBA degree enables students to apply for leadership roles in any kind of industry. Students will study the mainstay of management principles, along with courses on  marketing, strategy, consulting practices, and business development, to enrich their managerial acuity. 

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International Business Management/ Global Business Management:

This specialization is offered for students wishing to tackle industries/firms that face pressures of international markets in their daily business operations. Multinational conglomerates that need to match the pace and sensibilities of multiple continents and cultures will hire candidates with such degrees. This is a concentration with growing popularity for attracting candidates wishing to have careers that span the globe with multinational offices and networks.

Strategy/ Strategic Management:

This specialization is also quite sought after and lucrative. Aiming to attract individuals who wish to spearhead growth and tactical development roles in dynamic organizations. This MBA specialization ensures candidates are empowered with necessary knowledge to help enterprises navigate complex deals and calculated acquisitions.

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Finance

MBA in Finance is definitely one of the more popular specializations. Students who wish to break into the Finance, Banking, and Investments sector, get placed in top banks, hedge funds, and asset management firms, aspire to pursue the MBA in Finance. A quantitative specialization, this degree requires its candidates to be adept with their numerical skills. Moreover, the finance industry is notorious for being competitive with long working hours.
STEM Classification: In terms of the US STEM-OPT visa stipulations, certain MBA in Finance programs will have STEM classification as per their mathematics, programming, statistics, allied technology course load.

Analytics

MBA in Analytics/ Data Science has been a coveted specialization in recent times. Important decisions are gleaned from large data sets using sophisticated data science techniques, ML algorithms, and statistical modelling. This MBA emphasizes the vitality of quantitative research methods in running businesses for the modern day workplace, such as use of past data for predicting future stock returns, impact of advertisement analytics on product sales.
STEM Classification: In terms of the US STEM-OPT visa stipulations, certain MBA in Analytics programs will have STEM classification as per their mathematics, programming, statistics, allied technology course load.

Marketing/Marketing Analytics

Marketing is a long standing academic discipline and an integral part of the business process. Across all sectors be it healthcare or finance, marketing services are always in demand. MBA with a marketing specialization will enhance students’ understanding of consumer behaviour, market trends, product performance, market share, competitor analysis. Additionally, the advent of data science has propelled marketing techniques infused with quantitative methods to exponential levels. Marketing analytics enhances everyday sales and marketing decisions with the use of statistical methods on past data.
STEM Classification: In terms of the US STEM-OPT visa stipulations, certain MBA in Marketing Analytics programs will have STEM classification as per their mathematics, programming, statistics, allied technology course load.

Entrepreneurship:

The MBA in Entrepreneurship is sought after by self-starting students keen on turning their ideas/business proposals into viable enterprises. Family-business runners, corporate entrepreneurs, individual business owners will benefit from this specialization. Apart from valuable knowledge on management principles and entrepreneurship skills, students will also study important subjects for entrepreneurs such as negotiation, innovation, strategic partnerships, venture implementation, entrepreneurial marketing, etc.

Production/Operations Management/ Supply Chain Management/Logistics Management:

This specialization will enable learners to acquire in depth understanding on quality control, manufacturing, product line optimization, operations research, logistics management and many more. Students with industrial, production, mechanical engineering, applied math, statistics backgrounds find this MBA concentration to be a natural progression towards attaining managerial positions. After this MBA students can work in managerial roles/supervisory capacity in big factories, manufacturing plants, and production houses or head the operations & logistics divisions of MNCs across a wide variety of sectors including pharmacy, technology, and finance.
STEM Classification: In terms of the US STEM-OPT visa stipulations, certain MBA in Operations/Logistics programs will have STEM classification as per their mathematics, programming, statistics, allied technology course load.

Human Resource (HR)/ Organizational Behaviour/ Labour Relations:

This is a dynamic MBA concentration that has been around for quite some time. Human resource management is now known by many other terms such as human capital consulting, organizational behaviour & performance, labour relations management, etc. If you aspire to reach leadership roles within the HR domain, an MBA specializing in it would be prudent. Students are taught on leveraging employee potential and enhancing social growth within the organization keeping in mind the long term and short term enterprise development plans.

IT/Technology Management:

A very popular concentration of recent times. This MBA teaches students management of IT firms, technology consulting, software service management, etc. Technology Management MBA curriculum is quite varied including topics such as AI management, fintech, ML algorithms for business, strategy for technology innovation etc. Learners pursuing the technology management MBA will be well placed to head modern day IT enterprises.
STEM Classification: In terms of the US STEM-OPT visa stipulations, certain MBA in IT/Technology Management will have STEM classification as per their mathematics, programming, statistics, allied technology course load.

Healthcare Management:

This is an essential MBA for students interested in the healthcare industry. In today’s times with the Covid 19 induced pandemic, management of healthcare resources has acquired greater importance. After this MBA students will be well positioned to take on leadership roles in hospital management, healthcare delivery services, pharmaceutical enterprise management, health insurance, biotechnology and allied health-tech administration. 

Accounting:

The MBA with accounting concentration empowers students to tackle conventional auditing and financial aspects of a business. The Accounting concentration enables students to harness the power of empirical data in analysing and maintaining financial health of enterprises. With relevant courses such as corporate accounting, financial statement analysis, portfolio management, accounting fraud detection,  systems based accounting & auditing, etc, learners will be well on their way to become CFOs, Chief Auditors, Financial Heads of companies across sectors.
STEM Classification: In terms of the US STEM-OPT visa stipulations, certain MBA in Accounting programs will have STEM classification as per their mathematics, programming, statistics, allied technology course load.

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