An MBA degree will open doors to a world of opportunities and take your career up several notches. If you choose the right specialization early on, not only will you gain a competitive edge, but you will also gain more benefits over the years to come. Traditionally, finance, marketing, HR, operations, and entrepreneurship are some of the most sought-after MBA specializations and are considered safest by many students. However, with time and especially post COVID, business needs are changing. More emphasis is being placed on specializations such as digital marketing, business analytics, and so on. Here is a list of the top 10 MBA specializations in demand in 2021 and post COVID that you can choose from.
1. MBA in Digital Marketing
As we continue with the growth of digital media, more and more traditional methods of marketing will move to online and digital platforms. From big companies like Apple and Nike to the general stores near your area, everyone uses digital platforms in one way or the other. This has caused a rise in the demand for digital marketing professionals, which will continue to grow at a rapid pace. An MBA specialization in Digital Marketing will help you cover the more in-depth branches of digital marketing such as content marketing, social media marketing, email marketing, and so on. You'll also learn a range of skills that can be applied across marketing and sales roles at B2C and B2B companies.
2. MBA in Business Analytics
As the demand for big data professionals continues to grow, the importance of MBA specializations in Business Analytics has begun to rise. Business analysts provide data-driven recommendations to help to bridge the gap between information technology and business. This requires a deep understanding of business coupled with a strong understanding of data, statistics, and computer science. Most top business schools offer an MBA in Business Analytics either as a part of their full-time program or as a specialized management program.
3. MBA in Data Analytics
Data analytics is all about using data to find solutions and predict outcomes for business problems. This includes using machine learning algorithms to text, images, video, audio (basically, data in any format) and draw various conclusions from them. The basic difference between business analytics and data analytics is that data scientists perform more robust analytics with data, whereas business analysts are more involved in addressing business needs and recommending solutions. An MBA specialization in data analytics will help you learn all about data infrastructure, testing, machine learning, and decision-making.
4. MBA in Entrepreneurship
The demand for specialists in managerial and leadership roles who can effectively manage an organization continues to grow. Whether you are focused on starting your own company in the future or looking to bag a leadership role in an organization, an MBA specialization in Entrepreneurship is the perfect fit for you. This program focuses on equipping students with innovative thinking and essential strategies to achieve them.
5. MBA in Finance
An MBA in finance is one of the most popular MBA specializations as it has immense growth prospects. No company can grow without proper accounting and control. Hence, professionals skilled in financial management are required to plan and control the financial resources of any organization. After completing an MBA in Finance, you can also opt for various jobs in banks, financial institutions, investment banking, merchant banking, corporate finance, international finance, and so on.
6. MBA in Strategy
An MBA specialization in Strategy is a popular choice because this is a highly transferable skill relevant to almost every sector. This means that it will give you a greater competitive advantage within the jobs market. Since strategy focuses on what is popular at the moment and taking advantage of it, this MBA specialization is practical for those working in evolving professions such as marketing or HR.
7. MBA in International Business
Most businesses work with clients across the world. Hence, there is a high demand for professionals who know how legislation works in different countries and how cultural differences can impact a business. An MBA specialization in International Business is a popular choice for students who are interested in working globally. This program will help you develop a global outlook towards trade, become more open to other cultures, and hone your communication skills. As more companies continue to grow their businesses abroad, this MBA specialization has gained popularity in the last few years.
8. MBA in Human Resource Management
One of the most important processes of an organization is hiring new employees and training them for the maximum benefit of the business. The demand for professionals in human resources has gained more importance as people started working from home and newer strategies were required to handle employees. An MBA specialization in Human Resource Management trains students on how to manage the workforce, compensation strategies, performance assessment, and lots more.
9. MBA in Risk Management
Every organization is prone to organizational risks due to unstable markets, liability issues, cybercrimes, etc. Especially in this data-driven world where everything is going online, there is a huge need for professionals skilled to handle such problems. An MBA specialization in Risk Management enables students to identify potential risks that can affect the operations and value propositions of any organization, and implement strategies to mitigate those risks.
10. MBA in Operations
Operations is one of the core pillars of a business. An MBA specialization in Operations is ideal for candidates who want to run a business efficiently and effectively. You will learn about different strategies to manage and organize companies so that they reach their maximum output. The typical curriculum in this specialization includes business forecasting, operational and supply chain management, project administration, and managerial economics.
How to Make The Right Choice?
There is an MBA specialization for nearly every field of industry out there. This makes it an overwhelming decision to choose one out of many. Each one has its own benefits, but you need to choose one based on your interest and skills, as well as the career prospects for the future. While traditional two-year MBA courses are very popular, short-term PGDM courses have gained a lot of popularity because you gain more exposure to real-life business situations. Simplilearn’s Post Graduate Diploma in Management by JAGSOM, one of the top B-schools in India, will help you create a strong business foundation before diving deep into the specialization of your choice from Digital Marketing, Operations, Business Analysis, and Data Analytics. Get started with this program today and become a business leader for tomorrow.