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Top 10 MBA Specialisations in Demand: Your Guide
16 July 2024, 11:15 am IST
An MBA or Master of Business Administration degree is regarded as the ticket to the corporate world for aspirants willing to boost their careers in the management job market. MBA prepares students for business and administrative skills to help them grow as management leaders. In recent years, there has been a significant rise in the aspirational value of the MBA degree in India.
When it comes to management studies, the most important aspect of pursuing an MBA is to choose the specialisation. In the present scenario, companies hiring MBAs look for experts with a combination of advanced skill sets like cybersecurity, data analytics, engineering, and legal fields. Hence, it becomes very important to consider the specialisation to understand the skill sets you are acquiring from your MBA and how it is going to help you in your career.
If you are planning to pursue management studies and are contemplating which specialisation is best for MBA, we are covering you in this blog with the top 10 MBA specialisations that are in demand in India presently.
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Which are the MBA Specialisations in Demand?
The trend in recruiting MBAs has experienced significant changes lately. Companies now look for multi-talented cohorts to join their business to add multiple value to it. Skill specialisation is what businesses are looking for and MBAs with newer skill areas are expected to gain from this. MBAs with undergraduate degrees in economics, statistics, data science, and digital marketing are gaining immensely in the current scenario.
With the need for specialised skills going up, the requirement for MBAs with special skills or specialisations has increased. Hence, aspirants are required to carefully consider top MBA specialisations as per recent trends in India and make an informed decision to pursue an MBA with the right specialisation.
Top 10 MBA Specialisations to Consider
A growing number of the best MBA specialisations are on offer for MBA aspirants to choose from. Unlike earlier, MBA specialisations are not particularly focussed on imparting general management skills anymore, rather the trend is towards gaining skill specialisation for MBA graduates. Below are the top 10 trending MBA specialisations in demand:
1. MBA in Data Science
MBA with a specialisation in data science is a two-year programme that provides expertise to candidates in advanced tools and technologies of business. The course is intended to transform data into business insights of high value. Students can acquire analytic competencies that help them perform various techno-functional roles. Skilled data scientists are in high demand globally and it is also an excellent paying field. The course imparts analytical and managerial skills to students.
Data scientists are involved in collecting and cleaning large data sets as well as preparing them for further analysis. They apply machine learning (ML) technology to extract insights from large data. They are also responsible for communicating and conveying the insights gained from such data to stakeholders.
Salary: Rs 3.8 lakh - Rs 28 lakh per annum with an average annual salary of Rs 14.4 lakh
Top Recruiters: Airbnb, Cloudera, Coursera, Facebook, Intuit, Redfin, Ola, Flipkart, Amazon, etc.
Apply Here For Best Online MBA in Data Science
2. MBA in Human Resource Management (HRM)
Human asset is the most important capital for every business, making HRM one of the most crucial MBA specialisations. HRM focuses on equipping students with strong organisational skills, which help them land lucrative jobs. An MBA in HRM allows graduates to perform crucial tasks like recruiting and training employees. They are also responsible for employee retention and conflict resolution along with performing other roles.
Salary: Rs 2.8 lakh - Rs 19 lakh per annum with an average annual salary of 10.9 lakh
Top Recruiters: Wipro, Deloitte, Aditya Birla Group, Amazon, TCS, ICICI, KPMG, etc.
Apply Here For Best Online MBA in HR Analytics
3. MBA in International Business
The increasing interconnection of the world economy because of the growing number of businesses worldwide has made international finance a viable option for MBA specialisation. This specialisation equips MBA students with the right know-how and skills required to be successful in this dynamic field. Students with an inclination towards international financial management, exports, imports, and global logistics can choose to pursue this specialisation.
Salary: Rs 7.1 lakh to Rs 70 lakh per annum with an average annual salary of Rs 34.4 lakh
Top Recruiters: TCS, Accenture, Cognizant, NLC India Limited, AI Airport Services, etc.
Apply Here For Best Online MBA in International Finance
4. MBA in Healthcare Management
The healthcare industry is experiencing rapid expansion and boom to create huge demand for expert MBAs in this field. Students with the right exposure and talent are getting high-salaried job offers from top companies. An MBA in healthcare management allows individuals to pursue a successful career in the healthcare industry.
Salary: Rs 0.8 lakh - Rs 23 lakh per annum with an average annual salary of 7 lakh
Top Recruiters: Star Health, Fortis, Apollo, Pfizer, Practo, Cipla and Max Healthcare, etc.
5. MBA in Business Analytics & Big Data
As per reports, the big data analytics market worldwide is expected to witness significant growth to reach US $745.15 billion by 2030 from US $307.52 billion in 2023. This massive rise is evidence of the career potential in data analytics. The pivotal role that data analytics play in businesses is to help companies harness the large data generated by them regularly. A data analyst has to perform the role of a better data-driven decision-maker for companies. They are responsible for improving products and services and enhancing customer experience.
Salary: Rs 3. lakh - Rs 30 lakh per annum with an average annual salary of Rs 14.4 lakh
Top Recruiters: HCL, KPMG, Wipro, Google, Deloitte, Infosys, Amazon
Apply Here For Best Online MBA in Business Analytics
6. MBA in AI and ML
MBA in Artificial Intelligence and Machine Learning is an emerging field worldwide. Most businesses across the globe are leveraging AI for business growth. This has increased the rise in demand for MBAs with skills in AI and ML to improve business efficiencies and productivity.
Salary: Rs 2.6 lakh - Rs 32 lakh per annum with an average annual salary of 11.9 lakh
Top Recruiters: Amazon, Google, Infosys, Accenture, Deloitte, TCS, IBM, Microsoft, Wipro, etc.
7. MBA in Entrepreneurship
Entrepreneurship in India is growing massively with the country boasting of as many as 107 unicorn companies worth US$ 30 billion. Termed the 'Startup Hub', India has over 1,27,000 startups recognized officially by the Department for Promotion of Industry and Internal Trade (DPIIT). This makes it relevant to get an MBA specialisation in entrepreneurship to get the best exposure in the entrepreneurial landscape of India.
Salary: Rs 1.5 lakh - Rs 30 lakh per annum with an average annual salary of Rs 17.8 lakh
Top Recruiters: Nike, Ernst & Young, Amazon, McKinsey, BCG, Johnson & Johnson, PricewaterhouseCoopers, Tesla, LinkedIn, Procter & Gamble, Accenture, Bain, Deloitte, etc.
Apply Here For Best Online MBA in Entrepreneurship
8. MBA in Logistics and Supply Chain
The enormous boom in e-commerce and huge growth in the number of online shoppers in India is paving an exciting roadway for MBAs to specialise in Logistics and Supply Chain Management. MBA graduates with the right expertise and skills can avail of jobs offering excellent salaries and designations with an MBA in supply chain and logistics management.
Salary: Rs 2.4 lakh - Rs 20 lakh per annum with an average annual salary of Rs 9.9 lakh
Top Recruiters: Ranbaxy, Wipro, Infosys, Flipkart, Amazon, Coca-Cola, Accenture, HSBC, Deloitte, etc.
9. MBA in Financial Management
India has experienced significant growth in the financial sector. As per reports, the country will become the fourth-largest wealth market worldwide by 2028. This indicates a positive trend in terms of opportunities and the demand for MBA students with a specialisation in financial management.
Salary: Rs 3.5 lakh - Rs 32 lakh per annum with an average annual salary of Rs 17 lakh
Top Recruiters: JP Morgan, Goldman Sachs, Amazon, ICICI Bank, KPMG, TCS, etc
10. MBA in Marketing
This is another relevant MBA specialisation looking at the importance of a marketing department in almost every business. MBA students trained in marketing skills can effectively capitalise on marketing tools and technologies to improve a business landscape.
Salary: Rs 2.3 lakh - Rs 24.3 lakh per annum with average annual salary of Rs 12.4 lakh
Top Recruiters: Amazon, Apple, JP Morgan, BCG, Google, Accenture, etc.
Apply Here For Best Online MBA (Master of Business Administration)
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With the evolving landscape of the world of business, the demand for MBAs with skill specialisation is increasing. The unprecedented advancement in technology makes it critical for students to become forward-thinking professionals and identify the need to acquire expertise in strategic skill sets along with domain proficiency.
If you pursue a specialised MBA, your chances of thriving in the competitive job landscape gets enhanced. Choosing the right MBA specialisation is a step towards redefining your competitive opportunities.
An Online MBA in a relevant specialisation from Amity Online gives you an excellent opportunity to transition into various management roles while making you eligible for new and emerging organisational responsibilities in the future. Visit Amity Online today to learn more.
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Pritika
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frequently asked questions
What are the top 10 MBA specialisations currently in demand?
+Finance Management, Healthcare Management, Marketing Management, Logistics and Supply Chain Management, Human Resource Management, Operations Management, Business Analytics, Data Analytics, IT Management, and Project Management.
Why is an MBA in Finance in high demand?
+MBA in Finance has high demands across industries with enhanced job security. Finance is an evergreen field as it is crucial in different sectors. An MBA in finance equips students with specialised qualifications required for businesses and stable career opportunities.
What career opportunities are available for graduates with an MBA in Marketing?
+Career options available for graduates with an MBA in Marketing include Marketing Manager, Brand Manager, Asset Manager, Corporate Sales, Media Planner, Product Manager, etc.
How does an MBA in Human Resources benefit professionals?
+An MBA in HR equips students with comprehensive management skills by aligning HR strategies with corporate objectives to help them effectively lead and guide a workforce.
What skills are developed through an MBA in Operations Management?
+An MBA in operations management enhances strategic thinking and planning skills, leadership, and team management as well as various other problem-solving and decision-making skills.
What is the significance of an MBA in International Business?
+An MBA in International Business broadens the scope of career options for global transfers. You can work in the position of an international business consultant, or a global business manager among others.
How is an MBA in Business Analytics different from other specialisations?
+An MBA in Business Analytics makes you eligible for data-focused business positions and gives you a special edge in competing for more general positions in business management.