Choose an MBA specialization to transcend your career

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12 Oct 2015

How to Choose an MBA Specialization?
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- Admissions Office
Admissions, Candidates, Pre MBA

In the world of management education which is full of myriad choices, two important aspects make a huge difference in the end – the institution and the specialization. The dynamic nature of MBA makes it one of the most sought after programs and hence, widely accepted. Most applicants waiting to receive confirmations from reputed B-schools consider it the toughest part of pursuing an MBA. It is only much later that they realize the most challenging part of doing an MBA is opting for the right specialization.

Choosing a specialization is the big question that keeps toiling around in all first year students’ minds. As the students start exploring new avenues, attending new classes and meeting peers, they tend to develop new areas of interest. This stands true even for the ones who had made up their minds even before applying for their MBA program. However, it is crucial to opt for a specialization that you resonate the most with, based out of your passion and interest, not what is deemed important by others. This education will be with you for the rest of your life and will also determine the kind of work you will be eligible for in future.

How Well Does Your B-School Rank?

This may seem underrated, but make sure your B-school is both established as well as reputed. Why? These are the kind of schools that usually collaborate with the top companies in the industry, and vis-a-versa, top companies seek top schools for recruitment.

Know Your Strengths

Know your strengths and do a self-analysis of all the things you are good at. Know what your preferred B-School is reputed for, along with your preference for a one year MBA or two year program. There are multiple specializations available today but it’s important that you choose your field of specialization based on your personality, skills, and career goals. What you’re interested in is the most important factor which will drive your decision making. The key is to choose a specialization that will help you grow by building on what you already know & enjoy. Besides, you should also always keep the industry dynamic in mind. This will help you opt for a specialization that is not just of your interest, but also provides long term employability in the rapidly changing business world.

Focus on your Long-Term Goals

Considering the span of an average individual’s careers, one can either opt for a one year PG program or a 2 year MBA program with a focus on any of the core business functions such as business leadership, marketing, finance or HR. Initially, you must focus on how the specialization will boost your career, and whether you can expect long term employability, rather than being carried away with here-today-gone-tomorrow trends.

This will need you to first look within.
- Observe your strengths and weaknesses. Opt for a specialization that takes full advantage of your strengths and allows you to work on your weaknesses.
- Consider your ambitions and your career goals. Opt for a specialization that would provide value and open several doors for your professional growth.
- Always make use of the lessons and skills you learnt while pursuing co-curricular activities and sports like team-work, leadership qualities etc. and how you can implement them in your professional life.
Understand The Salary Figures

Learn about the ROI of your business school for every specialization. Evaluate the placement partners, offerings and the average salary packages. Try to find out the previous years minimum and maximum pay packages with respect to your preferred specialization. Doing this will give you an idea about what you can expect after your MBA.

However, do not base your final decision on this aspect alone. If the salary figures of a particular specialization are great however, you do not resonate with that vertical, do not opt for it. If you are remunerated well for what you enjoy doing, you will be motivated to learn more and utilize your skills in the best possible manner. This way, you can benefit yourself, as well as the organization you are associated with.

Know The Faculty

Always learn about your faculty! Study in-depth about their educational backgrounds, qualifications and their work experiences. You will be right to be curious about your mentors and their field of specialization. You can consider this information while finalizing your institute and specialization both.

In a Nutshell

Early in the course of your management education, you must deeply analyze the course contents covered under each specialization. This will help you in choosing the right path, developing specific skills and in making an informed career choice at the right time. The combination of the specialization and the association with a particular industry or sector makes a certain amount of difference in terms of the individual’s success. But be rest assured that whatever specialization you choose, it will require considerable hard work to excel and succeed which will help you transform from competent professionals to inspired business leaders.

SOIL Institute of Management provides world-class one year PGPM programs in Business Leadership, Analytics & Digital, and Human Resources. It also offers a two year PGDM program in Business Design (AICTE Approved) with the sole aim of educating students and transforming them into skillful and successful leaders and entrepreneurs.

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