Have you recently graduated and wish to study further? Or are you a working professional looking to upskill yourself? You probably must’ve thought about pursuing an MBA but are not well-versed with all the information you need.
This blog is your complete guide to what an MBA is, a list of mba specializations in India for you to choose from, some tips on how you can determine the best MBA specialization for yourself along with an overview of some of the best & highest-paid MBA specializations.
While many of the educationalists and students expected the scope and job opportunities for an MBA to collapse because of Covid-19, it has experienced quite the opposite. The pandemic had businesses come to a halt all of a sudden. But that did not mean they couldn’t operate.
Businesses shifted online and were in a dire need of professionals. Professionals who had the ability to be analytical as well as bring creative solutions which was the need of the hour. Thus, MBA graduates were the perfect fit. Because an MBA prepares you with an intense skill-set of the subject as well as managerial skills which further enables you to take up jobs straight at the mid-managerial level.
With the world shifting to online mediums for almost everything due to covid, a few sectors have seen an upward trend like IT, E-Commerce, Digital Marketing, etc to name a few. These sectors are on a hiring spree and thus MBA aspirants must take advantage of this opportunity.
Let’s look at what an MBA is for all the unversed:
What is an MBA?
An MBA (Master’s in Business Administration) is a post-graduation professional degree course that is typically a full-time 2-year program depending on the institute. An MBA equips you with knowledge around technical, managerial & leadership skills.
All MBA programs offer specializations that are requirements for different industries which lets you delve further into the field of your choice and interest and thus, helps you create a niche for yourself in that specialization.
An MBA student goes through rigorous training in the form of projects, presentations, and assignments. These important factors prepare you to face the real corporate world issues. Today, many institutes also provide internships to further strengthen your skills on the table.
Earlier, the majority of working professionals used to opt for an MBA to upskill themselves and be able to bag high-paying job offers. Nowadays, even graduates have started opting for an MBA.
Without further ado, let’s take a look at the list of MBA specializations offered in India in order of popularity:
List of MBA specializations offered in India:
1. MBA in Marketing
A marketer’s responsibilities are to understand & find out the needs of the consumers and then be able to offer a solution to them in terms of a product/service. They also have to compete with the competitors in the same market and outstand them. A marketer also has to make the best use of the marketing resources at his disposal.
An MBA in Marketing revolves around the 4P’s – Product, Price, Place, and Promotion in line with traditional marketing. This MBA specialization trains you in understanding consumer behavior, building relations with them, and a little bit of Internet Marketing as well.
Skills Required: Strategy building, Analytical thinking, Entrepreneurial skills, Creativity
Top Institutes offering an MBA in Marketing: Indian Institute of Management (Ahmedabad), Indian Institute of Management (Calcutta), Institute of Public Enterprise (Hyderabad)
PS: If you’re confused between the MBA specializations of Digital Marketing and Marketing, we’ve got something for you! Read this blog on MBA in Digital Marketing vs MBA in Marketing and choose the best for you.
2. MBA in Digital Marketing
We’re all well aware of the increasing importance of digital marketing and thus, many institutes have started offering an MBA in Digital Marketing which is an extension of traditional marketing skills. This is a recent addition to the MBA specializations and also one of the most successful ones.
An MBA in Digital Marketing equips you with an intense array of digital skills like SEO, SEM, SMM, Website building, Content Management, Email Marketing, and a lot more along with managerial skills.
IIDE offers an MBA in Digital Marketing in India which trains you in all aspects mentioned above along with capstone projects, a compulsory 2-month internship, and guaranteed placement assistance, all in just 11 months!
Skills Required: Strategic thinking, Multitasking, Analytical approach, Communication skills
3. MBA in Finance
A finance manager’s responsibility is to plan and control the financial resources and assets of the company. The role of analyzing the financial risk and managing it also falls under this. An MBA in Finance prepares you to perform accounting, work in the money markets, banking, international finance as well as privatization.
Skills Required: Strong mathematical skills, Strategic analytical thinking, Leadership qualities, Data metrics understanding
Top Institutes offering an MBA in Finance: SP Jain Institute of Management & Research (Mumbai), Jain University (Bangalore), IBMR Business School (Gurgaon)
4. MBA in Human Resources
An HR of a company is responsible for recruiting, training, and building a team of employees. They have to take regular updates on their performance, manage their salary and increments, build a sound employee policy to ensure healthy working environments, and look after their health and safety amenities.
An MBA in Human Resources equips you with all the knowledge and training necessary to carry out the above-mentioned responsibilities.
Skills Required: Crisis management skills, Articulate communication skills, Leadership qualities, Sensitivity, Coordination skills
Top Institutes offering an MBA in HR: Tata Institute of Social Sciences (Mumbai), Management Development Institute (Delhi), Xavier Labour Relations Institute (Jamshedpur)
5. MBA in Business Management
Thanks to globalization, top MNC’s have set up in the Indian markets which have subsequently increased the demand for business experts. Thus an MBA in Business Management teaches you all the aspects of business such as HR, Finance, Marketing, Operations, Retail, and more.
This MBA Specialization prepares you as an all-rounder and is also a preferred choice for those individuals who want to manage their own business or open a venture in the future.
Skills Required: Entrepreneurial skills, Teamwork, Leadership qualities, Crisis management skills
Top Institutes offering an MBA in Business Management: Indian Institute of Management ( Ahmedabad, Bangalore, Calcutta, Lucknow), Symbiosis Centre for Management and Human Resources Development (Pune)
6. MBA in Rural Management
An increasing number of woke young learners are inclining towards rural development in reference to the changing socio-economic policies of the government. An MBA in Rural Management trains you in planning and controlling activities in the agricultural sector.
This MBA Specialization will require you to work closely with the farmers and the villagers of India. Many institutes offer a compulsory internship where you will have to stay in remote villages and carry out your research and studies.
Skills Required: Fluency in multiple local languages, mass communication skills, problem-solving skills
Top Institutes offering an MBA in Rural Management: Welingkar Institute of Management (Mumbai), Amity School of Rural Management (Noida), Indian Institute of Rural Management (Jaipur)
7. MBA in Event Management
Event management has picked up immensely in recent years and is a very good career option. An MBA in Event Management teaches you how to understand and bracket a specific target audience for the event, pick themes relevant to them, arrange for logistics, heavy promotion of the event, giving an estimated budget for the event, and successfully managing the event.
Two major aspects of event management are Crisis Management and Heavy Coordination. Without these 2, events can turn into chaos and the worse nightmare for the event manager.
Skills Required: Crisis Management skills, Co-ordination, Communication skills, Networking, Planning
Top Institutes offering an MBA in Event Management: National Institute of Event Management (Mumbai), Parul University (Vadodara), SAGE University (Madhya Pradesh)
8. MBA in Information Technology
If you have an inclination towards computer science, an MBA in Information Technology is the perfect match for you. This MBA trains you to handle the IT of an organization which includes all the hardware, software, networks, and data centers.
You will have to plan, design, and implement IT solutions for the organization.
Skills Required: In-depth knowledge of IT, Strategic planning, Global orientation
Top Institutes offering an MBA in IT: Jamnalal Bajaj Institute of Management Studies (Mumbai), BIMS (Calcutta), Chandigarh University (Chandigarh)
9. MBA in Operations Management
The production and distribution of a company’s products and services fall under the responsibilities of an Operations Manager. They are required to constantly find effective ways to improve the production, distribution, and cost of their products and services.
An MBA in Operations Management equips you with the right amount of theoretical as well as practical knowledge to carry out the operations.
Skills Required: Co-ordination skills, Problem-solving skills, Strategic thinking
Top Institutes offering an MBA in Operations Management: Narayana Business School (Ahmedabad), DY Patil School University of Management (Mumbai), Tapmi (Manipal)
10. MBA in Logistics Management
Logistics management is a very crucial concept under supply chain management. To plan, implement and control the incoming and outgoing of raw materials and finished products for the production of an organization is the main task of a logistics manager.
This MBA specialization also prepares you to come up with new and effective methods to manage the logistics thereby reducing the time & cost and increasing the production levels.
Skills Required: Calmness, Problem-solving, Intelligent thinking
Top Institutes offering an MBA in Logistics Management: Amity Business School (Noida), Presidency University (Bangalore), VELS (Chennai)
11. MBA in Healthcare Management
The covid-19 pandemic has surely made us all realize that we not only need more healthcare workers but also a systematic healthcare management system. An MBA in Healthcare Management can be opted by all those interested in the field of pharmaceutical, insurance organizations, and hospitals.
This MBA specialization prepares you to manage the healthcare system with greater stress on how to manage during a healthcare crisis.
Skills Required: Basic medical knowledge, Adaptive thinking, Ethical judgment, Honesty
Top Institutes offering an MBA in Healthcare Management: Symbiosis Institute of Health Science (Pune), Indus University (Ahmedabad), Manipal School of Management (Manipal)
How Should You Choose Your MBA Specialization?
Well, we just saw the list of MBA specializations in India offered by various reputed universities and institutes. If you already have an inclination towards any of the fields from the above MBA specializations, you’re good to go.
But if you’re someone who is still confused about which MBA specialization to go for, here are a few tips on choosing the right MBA specialization:
- Go for an MBA specialization that is in-demand and is experiencing a positive surge in terms of employment. This way you will be securing your career. For example Digital Marketing, Healthcare Management, Finance, etc to name a few
- Choose an MBA specialization that will give you a good ROI (return on investment).
- If you’re confused between 2-3 MBA specializations, research well on them, take a counseling session from their respective institutes, and see what appeals to you.
- Get in touch with the alumni and take their opinions, try to understand their review in an unbiased manner.
- If the duration is something that concerns you, find out MBA specializations with shorter durations but make sure the quality of knowledge is not compromised upon. IIDE offers an 11-month MBA in Digital Marketing.
- When you have chosen the MBA specialization you want to go for, select an institute that offers industry-relevant knowledge along with practical projects, internships, and placement assistance.
- Research about the faculty in charge. Prefer institutes where the faculty members are industry experts and are actually practicing what they teach. This ensures high-quality knowledge.
Which is the best & highest-paid MBA Specialization?
With extensive and careful research, one of the best and highest-paid MBA specializations to go for is an MBA in Digital Marketing. Here’s why:
The image above shows the statistics around the digital growth experienced in India in just 1 year. As you can see, the number of internet users that has increased in 365 days is a whopping lot.
Marketers need to be present where their audience is. Thus, digital marketing is gaining importance more than ever. Look at the amount of money that was spent on digital advertising in the past 1 year:
These are reasons enough to understand how digital marketing is the thing and with increasing importance, the number of digital marketing jobs is also increasing.
With an MBA in Digital Marketing, you will be able to bag job opportunities directly at the mid-senior managerial level which are high-paying. Take a look below at the average salary for a digital marketing manager in India-
Thus, an MBA in Digital Marketing is one of the best and highest-paid MBA specialization.
We hope this blog has answered all your questions and doubts about what an MBA is, the MBA specializations in India, and the best choice for you.
With the covid-19 pandemic and some statistics stated above, it is evident that Digital Marketing is a good career choice.
Do let us know about your views and if you have any more questions in the comments section below. We’d love to hear from you.