MBA Specializations in Demand for 2023

The most flexible and well-liked two-year post-graduate program that enables students to become experts in several facets of business administration is the Master of Business Administration or MBA. When the nation became industrialized and businesses began looking for scientific management in the early 20th century, the MBA degree initially emerged in the United States of America. The first MBA programs in India were created by IIMs and XLRI Jamshedpur. In 1950, MBA arrived in India. The course is currently very popular in India and other countries.

It can be a wise choice to get an MBA abroad because it can greatly advance your career and provide you with various options in international job marketplaces. Both the opportunities and specializations for MBA graduates have grown. Today’s students have access to a variety of MBA specializations, which might make it challenging to pick the best specialization. If you haven’t already chosen the MBA specialization you want to pursue, this blog may be able to give you some insight into some of the most in-demand specialties, which can aid in your decision-making.

Why is MBA popular among students and working professionals?

Students learn technical, managerial, and leadership skills in India’s MBA programs. The first year of the two-year post-graduate program introduces the learner to many management topics, and the second year gives them the opportunity to specialize in a topic of interest. An entry point into corporate employment options is this professional qualification.

The degree prepares one to become an effective entrepreneur in addition to helping one get well-paying employment. While the glamorous position and pay that awaits new graduates draws them in, working professionals see this as a stepping stone to the next phase of their careers.

What are the eligibility criteria to do MBA courses in India?

Any type of MBA program requires a least three-year graduation in any discipline with a minimum cumulative GPA of 50% as the fundamental qualifying requirement. IIM and IIT, two prestigious institutes, require 60% overall. Students who fall into a protected category, such as OBC, SC, or ST, are permitted a 5% waiver of the required percentage.

Students in their final year of study can also apply for an MBA.

Depending on the MBA programs offered by B-schools or the requirements of the university or institution, a candidate must pass any of the MBA entrance tests listed below.

  • CAT, MAT, CMAT, and AMAT are tests conducted at National Level.
  • MAH-CET, OJEE, KMAT, TANCET, or AP ICET are tests conducted at State Level.
  • IIFT, XAT, NMAT, SNAP, and IBSAT are a series of tests conducted by top B-schools for their MBA programs.

Top 6 MBA courses in Demand in 2023

1. MBA in Finance

The most sought-after MBA specialty is in finance due to the enormous development potential in this industry. The planning and administration of the financial resources of any industry are the main topics of study in financial management.

You must possess a number of abilities as a finance student to succeed in this sector, including quantitative aptitude, communication aptitude, strategic thinking aptitude, leadership aptitude, and supervisory aptitude. You learn about topics like capital management, international finance, budgeting, and costing. For MBA in Finance grads, there is a tonne of prospects in the expanding Indian banking industry.

Graduates in MBA Finance can expect to make around $7lac in their first year of employment. EY, Accenture, HDFC Bank, and TCS are the top employers of applicants with an MBA in finance.

2. MBA in Human Resource Management

Human resource management, or HRM, in an MBA, focuses on the study of people in organizations. Although any business involves people, it is the employer’s responsibility to ensure that the workers are treated fairly and that their lives within the business are generally positive. The Department of Human Resources is in charge of this procedure.

In addition to finding, developing, and hiring individuals, the HR department also considers how to reward and compensate them when it is appropriate. The course covers hiring, training, compensation, benefits, performance reviews, employee policies, employee health and safety, and staff amenities. Candidates choosing this course must possess the following skills: effective communication, strategic thinking, leadership abilities, and empathy.

An MBA HR candidate’s average beginning compensation is close to 6 lacs per year, with HR Managers and Senior HR Managers earning 7.5 to 10 lacs.

There are several job openings for MBA HR applicants at IT companies, newspapers, advertising agencies, media houses, etc. Every business has a human resources department to aid its workers.

An MBA HR candidate’s average beginning compensation is close to 6 lacs per year, with HR Managers and Senior HR Managers earning 7.5 to 10 lacs.

3. MBA in Marketing

The majority of businesses have an internal marketing team that works hard to promote their goods and attract customers to the business. In contrast to other MBA programs offered in India, this concentration has seen significant growth in recent years thanks to the booming digital industry and globalization. Despite the course’s primary focus on marketing, the skill sets students to acquire allow for a wide range of job options, from consulting to entrepreneurial management.

The candidate must possess interpersonal, communication, strategic, and entrepreneurial skills in order to successfully complete this course. Students will learn about market research, consumer behavior, cost volume and profit, sales, promotion, advertising, branding, etc. during the course.

A graduate with an MBA in marketing may expect to make around 7.5 lacs annually as their beginning pay. Financial services, IT companies, marketing companies, advertising agencies, etc. are the top employers of MBA Marketing candidates.

4. MBA in Operations Management

It deals with all aspects of a corporate organization’s operations, as the name would imply. The course teaches the student how to successfully manage the organizational processes involved in the successful manufacturing and distribution of the product. Students that score highly in soft skills like customer service, negotiating, and communication can succeed in this career.

An MBA operations management graduate can expect to make around 8 lacs annually as their starting pay. The leading employers for candidates seeking an MBA in operations management include GAIL, First Flight, ONGC, BlueDart, and DAMCO.

5. MBA in Healthcare Management or Hospital Management

The role of an MBA Degree in healthcare or hospital management is broad and extends beyond hospitals to include government agencies, insurance companies, the pharmaceutical industry, and consulting firms in the health sectors.

You are expected to address important hospital issues and their administration as a professional in healthcare management. Along with having fundamental administrative abilities, quick thinking, adaptability, ethical judgment, leadership, etc. are crucial talents needed for an MBA in healthcare management.

A Degree with an MBA in healthcare or hospital management may expect to make around 6.6 lacs annually as their starting pay. Fortis Healthcare Limited, KPMG, Infosys, AIIMS, and Apollo Hospitals are among the top employers looking for applicants with an MBA in healthcare or hospital management.

6. MBA in International Business

With the rise of globalization and the resulting increase in international trade, an MBA in international business has grown immensely popular and profitable. Businesses have begun looking toward foreign markets. To represent their firm globally, companies are now looking for graduates with training in conducting international business.

The topic of the training is managing and organizing global corporate operations. It instructs students on a wide range of topics related to doing business internationally, including paperwork, export and import, foreign trade customs, foreign exchange, foreign capital, and the global market. With an international focus, the course includes marketing, finance, and human resources. Students receive training in management, international trade, or general business careers. Foreign language proficiency is considered to be an asset.

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