Best MBA specialisations in the world - A Masters in Business Administration is perhaps one of the most sought after programmes for fresh graduates who wish to enter the corporate world as well as for mid-level professionals hoping to climb the corporate ladder. “A graduate management degree is an outstanding investment in the personal, professional and financial aspirations of students," says Bob Alig, GMAC- Graduate Management Admission Council’s- executive vice president for school products. A Bloomberg data reveals that fresh MBA graduates who switch careers can get an increase of as much as $55,000 over their pre- MBA salary. In fact, an FT report states that young 24-year olds can get a massive 145% increase over their previous salary post pursuing an MBA degree.
However, deciding to pursue an MBA is only one part of the whole MBA deal. One of the most important questions here is what MBA specialization should you take? Two things that aspirants should always factor in while making the decision is their passion and their experience in that field as these are the elements which will not only help them secure a seat at the best institution but also help them to crack an opportunity at their dream organization. So before researching for universities and applying, it is in your best interest to know about the most sought after MBA specialisations in the world as well as the best institutions offering the MBA specialization.
To make things easier for you, we bring a list of the best MBA specialisations in the world along with the best MBA universities and the average GMAT score required for admission to these business schools.
Here are the Best MBA specialisations in the world:
If your dream is to be among the who’s who of Wall Street, an MBA in finance is definitely one of the stairs you need to climb on. One of the most popular specialisations within the MBA, Finance is inclusive of the all the core components of management studies i.e., investments, capital markets, corporate finance and accounting.One of the best points about pursuing an MBA in finance is that it opens job opportunities in almost every field, including banking, markets, real estate, hospitality and so on.
Some of the popular positions that one can explore through an MBA in finance are:
Top universities with average GMAT score
The Wharton School, University of Pennsylvania
London Business School
Chicago Booth School of Business
Harvard Business School
NYU Stern School of Business
Columbia Business School
IE Business School
“Entrepreneurship is targeted at those who are really interested in start-up firms and expanding them internationally. It teaches you what kind of strategies work or do not work in the international business setting,” says Dr. Jagannadha Pawan Tamvada, Associate Professor at the University of Southampton. With more people coming out with out of the box business ideas, demand for an MBA in Entrepreneurship has grown exponentially. According to a GMAC survey of over 21,000 business schools worldwide, 1 in 10 business schools alumni are self-employed. In fact, the longer the students have been out of business schools, the more likely they are of taking up some kind of entrepreneurial activity.
MIT Sloan School of Management
Babson College, F.W. Olin Graduate School of Business
If you can eat, sleep and breathe through your words, then marketing is definitely the best specialization for you. Marketing has emerged as one of the most sought after MBA specialisations in the world, thanks to its applicability in every form of business from door-to-door sales to the digital platform. This is so because the role of a marketing manager is similar in every position i.e., to seek opportunities to market the products of the organization and increase profitability of the business.
UCLA Anderson School of Management
University of Cambridge
With corporates heading toward a complete digital platform, the demand for IT professionals has increased, especially, at the managerial level. An information systems manager may be involved in design managements, hosting companies, consulting services and a host of other technology driven tasks. Basically, an MBA in Information System combines the technical knowledge of information Technology professional with that of Management theories.
Some of the popular positions that one can explore through an MBA in Information System are:
Systems software manager
Chief Information manager
Data Processing Manager
UCB Haas School of Business
An MBA in International Management is a relatively new entrant among the MBA specialisations. However, despite being in the nascent stage, this specialization is increasingly becoming popular among young MBA aspirants who want to explore and be part of the global management scene. Global managers are actually quick drawers among multinational companies who want their managers to be able to handle operations at any of their offices across the world.
Some of the popular positions that one can explore through an MBA in international management are:
International management consultant
Import or export agents
International trade and customs manager.
Thunderbird School of Global Management
University of Southern California
An operations manager is responsible for all the aspects of operations right from manufacturing to supply. He also supervises over the supply chain management of the company. With multinational companies focusing on building distribution chains at countries across the world, operations management has emerged as a necessary division. Interestingly, Operations Management does not just involve handling the factory aspects of a business. If you want to run a fast food or retail chain, then an MBA in Operations Management is definitely the best option for you.
Some of the popular positions that one can explore through an MBA in Operations Management are:
Supply chain manager
IESE Business School - University of Navarra
Corporate Social Responsibility:
An MBA in Corporate Social Responsibility is one of the emerging MBA specialisations that aspirants are opting for in the light of the slowly changing business strategies. With firms investing heavily on social responsibilities, especially to uplift communities as well as build their brand name, CSR managers are attracting quite the attention. Such is the draw that most of the top rated business schools have added this field as a special MBA specialization.
Some of the popular positions that one can explore through an MBA in Corporate Social Responsibility are:
Ross School of Business, University of Michigan
George Washington University
Michael G. Foster School of Business, University of Washington
Source: QS and Universities
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