The changing market trends may have paved way for new MBA specializations but the age old traditional MBAs still rule the roost!
Numerous horizons are opening up every day for management candidates owing to the escalating number of takers for this field. The job market has also swollen up and has plentiful opportunities for MBA professionals.
This change in the trend of the Indian industry has brought about a revolution in the management sector paving way for new specializations. The latest techniques and requirements have instigated the education bodies to segment the learning process in accordance with the demands of the industry.
Despite the changes and new additions in the MBA curriculum, the traditional MBAs haven’t lost ground and continue to dominate the field of management. MBA in Finance, MBA in Marketing, MBA in Operations, MBA in Information Technology (IT) and MBA in Human Resources (HR), are the ones overriding other options in the management field. The industry hiring also gives more importance to these sectors. According to the GMAC Survey Report, overall, nearly a third (30%) of graduates in 2014 have received job offers for financial and accounting positions, followed by consulting (23%), marketing and sales (16%), general management (12%), operations and logistics (11%), information technology and management information systems (IT/MIS; 5%), and human resources (2%).
MBA in Finance
A specialization in Finance continues to be the core area of management and attracts the maximum candidates towards it. It basically revolves around a variety of industries including commercial and corporate banking, investment services and real estate. Candidates proficient with the number game often end up going ahead with a career in this field. The specialization includes management accounting and controls, the Indian capital market, banking, privatisation and international finance. India is a developing country and it is developing at a fast pace, hence an MBA in finance opens up a lot of job prospects for professionals graduating in this field. 44% percent of employers plan to hire Master of Finance graduates this year (up from 30% last year). The popularity of the course can be attributed to the abundant growth this sector promises.
- Credit Risk Management Analyst
- Financial Research Analyst
- Financial/Securities/Investments Analyst
- Personal Financial Adviser
- Cash Managers
- Risk and Insurance Managers
- Credit Managers
- Management Consultants
- Investment Banking Associates and later Investment
- Treasurers and Finance Officers
- Controllers (who prepare budget reports for regulatory agencies and business management, do audits and prepare cash management strategies)
- ‘CFO’ or Chief Financial Officers
MBA in Marketing
An MBA in Marketing is considered to be the trendiest and one of the most popular options in the field. It requires the candidate to have a good understanding about consumer behaviour, marketing, advertising, the market and other related fields of study. A specialization in this field offers an ocean full of career options to students. Most big firms have individuals with an MBA degree in marketing sitting at the top positions. This field challenges you to perform better, making use of good communication skills, relationship management skills, market research, advertising and many other tools of the marketing sphere.
Digital Marketing is latest addition to the marketing sphere. The online sector has emerged as the most powerful and influential industry in the recent years, hence digital marketing has gained a lot of importance due to the increasing industry demands. Social media marketing, which is a part of the digital marketing sphere, is also on the rise. While a specialization in marketing is enough to make you excel in the field, a few institutions have started running short term certificate courses to brush up the digital marketing skills of the individuals. This obviously serves as an added advantage for the people interested in going ahead with a career in the same.
- Brand Manager
- Digital Marketing Manager
- Social Media Manager
- Project Manager
- Sales Manager
- Marketing Manager
- Public Relations Specialist
- Market Research Analyst
- Area/Regional Manager and
- Chief Marketing Officer (CMO)
- A large chunk of CEO positions in top multinational companies are dominated by people from the Marketing background.
MBA in Operations
Operations Management is the function of managing the operating core of an organisation. The activities associated with creation, production, distribution and delivery of the organisation’s goods and services fall under this sector. This specialization helps you deal with production management, the art of maintaining process flows, develop vendor and inter-departmental relationships. It majorly involves design related activities that form the function of a particular operation, the activities needed for the planning and control to run an operation and ways of improving the particular operation. Most candidates with an engineering background go ahead with an MBA in operations.
- Supply Chain Manager
- Logistics Manager
- Inventory Control Manager
- Operations Manager
- SAP Consultant
- Project Manager
- General Manager
MBA in Information Technology (IT)
We are living in a technology driven society and in this era, no business can function without a solid IT backbone. The demand is only going to increase in the coming years. The IT management professions are responsible for digitizing the Indian business market and turning it into a technology driven one. An MBA in Information Technology Management aims to train, educate and develop managers who can be shouldered with the responsibility of effectively managing the planning, design, selection, implementation, use, and administration of emerging and converging information and communication technologies.
- Systems Programme Manager
- Design Manager
- Software Manager
- Systems Information Manager
- Project Managers
- Network Engineers
- Systems Analyst
- Chief Technology Officer (CTO)
- Computer Networking Manager
MBA in Human Resources (HR)
An MBA in Human Resources aims to train the management candidates in recruiting, training, team building, performance updates, salary, benefits and increments, employee health and safety as well as staff amenities. Individuals with good communication and people skills are the ones who should consider this specialization as an option. As an HR, one needs to have a lot of patience and should be able to handle tough situations well.
- Human Resources Manager
- Employee Relations Manager
- Compensation or Benefit Analyst/Manager
- HR Information Systems Manager
- Training and Development Manager
- Labor Relations Manager
- Payroll Specialist
- HR Generalist
- Non- profit Human Resources Expert
- HR Consultant
- International Human Resource Professional
- Human Resource Executive
- Employee Education Consultant
In 2015, more employers plan to open their doors to recent business school graduates to assist in meeting their corporate goals. The management industry is mushrooming in India which can be ascribed to the overall development of the country. While there are new specializations which have been added to the Management curriculum, the traditional ones still dominate the market. Therefore, pursuing a study in any of the specializations given above is sure to provide a promising future. However, it is very essential to understand the skills required and the job prospects of every segment before considering a management career in it.
Posted by : Kritika Sharma
09 Mar. 2015