Have you completed your graduation very recently and want to continue your higher education in management and business administration? Or perhaps you’re an established professional who is looking to improve your managerial skills. You must have considered pursuing an MBA with a specialisation, but you lack all the necessary knowledge on which MBA specialisation and which university or business school is best for you.
The following blog is a comprehensive reference to what an MBA is. It not only gives you a list of MBA specialisations in India from which you can select your desired career course as per your interests, but would also help you through the essential advice and guidance on how to choose the best MBA specialisation for yourself, and an overview of some of the best and highest-paying MBA specialisation programme in India.
About MBA Specialisation
MBA specialisation assists students in building their professional career in a particular niche and that too from the very beginning of their careers, which ultimately aids in their development and helps them lay a firm basis for a bright future. Here in India, MBA specialisations programmes are available in Online, Offline, and Distance Learning formats. Almost all the top Business schools in India offer a variety of MBA specialities, including an MBA in Finance, an MBA in Human Resource Management, an MBA Marketing, an MBA in Logistics and supply chain management, MBA in Hospital Management.
The admissions procedure of any MBA Specialisation course is almost identical to the norms and regulation that is usually applicable for normal MBA Admissions. Any graduate with at least 50% of the required marks from a UGC-accredited university, is eligible to face any of the management entrance exams, such as the CAT, GMAT, XAT, CMAT, MAT, SUAT (GRE, GMAT for abroad universities), and can take part in the final counselling process of MBA Specialisation programmes in India, which may be followed by a GD/PI round.
Some of the best MBA specialisation programmes in India are offered by IIMs and central universities. Apart from that, there are a handful of private universities and business schools which are also offering a vast range of MBA specialisation courses in India. However, Depending on the NAAC ranking present placement ratio, and, the average cost of pursuing any MBA speciality at the best MBA colleges in India can range from INR 3 to 20 LPA. Depending on several variables, the typical package for top MBA Specialisations ranges from INR 18 to 24 LPA.
What are the best MBA specialisation courses in India?
1) Master of Business Administration – Banking & Finance
An MBA in Finance is a very popular MBA specialisation that focuses mostly on financial management, which refers to managing the Indian capital and money market. Since it is so well-liked and widely popular among young graduates, many M.Com and CA students often pursue MBA in banking and finance, even after earning their postgraduate degrees. Additionally, it supports privatisation, the banking industry, and global finance.
It is a two-year-long postgraduate programme. MBA in Banking & Finance is more comprehensive and all-encompassing in character and designed to meet the needs of the banking and finance sectors. In this course, a student will learn to examine financial statements and comprehend financial projections while pursuing an MBA in Banking & Finance. You will gain knowledge in subjects like corporate finance, international finance, and financial management through the curriculum.
2) MBA in Marketing Management:
The value of an MBA in marketing is enormous in the modern world. The course focuses on market tactics, branding, advertising, ways to boost revenues, and the best ways to distribute items to customers. One of the top MBA specialisations is marketing. However, The MBA with market specialisation gained enormous significance and popularity with the digitalization of market sectors.
The MBA Marketing Management program’s primary goal is to develop highly motivated professionals for a variety of responsible jobs in sales, marketing, and other services. The curriculum of MBA Marketing management helps participants strengthen their analytical skills to spot global business prospects while also enabling them to comprehend the interrelationships between the many and intricate marketing operations tasks.
3) MBA in Human Resource Management
Similar to finance, the MBA in HR Management is also a popular post-graduation course in the field of management and business administration, especially because human resource is an integral and essential part of modern-day organisational work culture. The MBA in HR Management offers in-depth knowledge of people as resources, as well as the essential abilities and ideas required to manage that resource for best use.
A two-year post-graduate programme called the MBA in Human Resources Management is devoted to teaching students the knowledge and abilities needed to manage the employees efficiently of an organisation.
The programme seeks to develop human resources (HR) professionals who are capable of handling crucial HR roles in public and private corporations, organisations, and industries. Students in this curriculum gain planning, organisation, and management skills through case studies, projects, and in-class activities. Additionally, they research workplace learning and organisational psychology.
4) MBA in Supply Chain Management & Logistics
Logistics and supply chain management is the backbone of today’s modern economy. That is why, more and more companies, be it an e-commerce and textile industry or some Fast moving consumer goods, engineering equipment manufacturing brand, all are looking for smart and skilled supply chain managers. In this context, an MBA in supply chain management and logistics can be a great option for your higher studies. The main objective of an MBA in Supply Chain Management & Logistics is to teach students how to plan, implement, manage and organise the flow and storage of goods and services from the point of origin to the point of consumption.
Like any other MBA Specialisation programme, MBA in Logistics and supply chain management is also a two-year-long post-graduation degree which largely emphasises how to acquire in-depth knowledge of logistical management, transportation, goods, and services.
The students will gain knowledge in organising, carrying out, and managing issues about supply, customer service, warehouse operations, and storage facilities, among other things.
Additionally, while studying MBA in Logistical management, students will develop strategic decision-making abilities to make decisions on supply chain management and logistics and how their choices will facilitate workflow. Through the use of their decision-making abilities and efficient plan execution, candidates will learn to maximise the pleasure of their employers and consumers.
5) MBA in Health Care & Hospital Administration
With a rapidly growing population and a rising number of patients in urban hospitals, the country is going to need a robust healthcare system that can tackle pandemic-like situations more efficiently and effectively. The covid-19 outbreak is a hint in that direction!
It has undoubtedly brought to light the necessity for both more healthcare staff and healthcare management experts who can help organise and execute the needs and demands of modern-day health care and hospital management systems with more productivity. However, This, in turn, has initiated a huge demand for skilled and experienced healthcare management workers who can handle the pressure and at the same time manage the work efficiently during the crisis.
So if you are a student of medical and paramedical sciences or have been working in the pharmaceutical, insurance, or hospital industries for a couple of years and you want to grab those lucrative employment opportunities related to healthcare and hospital management, MBA in Healthcare and hospital management is the course that you should pursue after completing your graduation.
6) MBA in International Business:-
In a globalised business environment, It would be impossible for us to grow exponentially if we do not concentrate on the issues that are hampering international trade and commerce. International business is the real buttress here, delivering the extra strength to open economies so that they can flourish and grow continuously through free and fair international trade, international borrowings and more foreign direct investments.
However, A fulfilling and bright professional career in business management, across the globe, can be attained through one of the most demanding and engaging post-graduation courses in this domain, called MBA IB. As a direct consequence of privatisation, liberalisation and globalisation, companies are now bound to engage with international clients and businesses for more cheaper and cost-effective deals. They are now forced to merge or relocate their domestic and international operations.
Companies are being forced by globalisation to merge their domestic and international business operations. This necessitates the need for experts who are well-versed in the intricacies of international business and have managerial abilities to handle the newly emerging challenges in global trade and commerce.
Students who are pursuing MBA in international business will have a thorough understanding of exports and imports, International marketing, financial tactics and the rules and regulation of world trade. The goal of this programme is to develop highly productive and visionary individuals with the mental capacity to contribute significantly to businesses engaged in international trade of both tangible goods and intangible services, including the inflow and outflow of foreign direct investment (FDI).
How to choose the best MBA Specialisations?
Indian Business schools and universities offer a variety of MBA specialisations. However, It can be a challenging and mind-boggling task for newly graduated candidates to decide which MBA specialisation is best for them or which one would be able to meet their career aspirations.The selection of the appropriate course involves numerous considerations. Some of them are discussed below:
Your Career Goals & Interests:
To make the best decision, students must select their MBA specialisation based on their interests as well as the market trend and anticipated future demands. Jobs &
Your Career Objectives :
Finding the right kind of MBA Specialisation course opens up multiple windows of opportunities for professional advancement and allows you to grab lucrative employment opportunities in a highly competitive environment.
Rankings, Fees & Reputation of MBA Colleges offering Specialisation:
- Before applying for admission, candidates should do some research on the accreditation, school’s ranking, and reputation.
- The cost of the MBA specialisations offered by the universities must be carefully examined.
Below, in the coming paragraphs, We’ve enlisted some of the top MBA specialisation courses that have a bright future in terms of quick and lucrative employment, and have a wide range of growth prospects in India and abroad. Please keep in mind that while these skills may currently be in demand, they may alter in the near future.
1) How does General MBA education vary from Special MBA education?
Ans:-Although the General MBA and the specialised MBA are equivalent in many aspects, the latter may incorporate more in-depth course material, hands-on learning techniques, career trips, and above all niche-oriented practical experiences which help candidates to shine in a particular field or area of the market more efficiently and effortlessly. A personalised way to specialise is also provided by the teaching style and course structure.
2) What benefits may you expect from earning a specialised MBA?
Ans:-The candidates will gain managerial and practical experiences and skills and knowledge from it, which will aid them in developing a solid career path in a certain area over time.
3) Are there more favourable employment prospects for special MBA students?
Ans: A specialised MBA programme would benefit MBA students who have a strong interest in a particular industry or line of work. The special MBA grads have the best chances of getting a job in their desired profession and that too with lucrative salary options. Additionally, individuals who are interested in starting their own firm will have the ability to do so. Thanks to the skills they have acquired in the field over the course of the two-year Specialised MBA programme.
4) Which MBA specialisation programme attracts the highest salary packages?
Ans:-The highest-paying specialised MBA disciplines include marketing management, banking & finance, HR, international business, supply chain and logistics, and hospital management.
5) Which MBA specialisation is the best?
Ans:-Although B-schools all across India provide a wide range of MBA specialisations, it is challenging to identify one as the best. Every specialist MBA programme offers unique advantages and goals. A few of the well-liked MBA specialities are marketing, human resources, finance, operations and supply chain, international business, and retail management.