Scope of various MBA specializations

The MBA is a Master in Business Administration degree which is recognized globally to obtain skills needed for business and management careers. To those who have high-level C management positions, the degree is generally considered important. An MBA opens doors to large networks of high-level internships and the best jobs. Or, it may be the catalyst for those who are searching for their own business. The Degree came from the United States at the beginning of the 20th century. Though, the value of an MBA is not limited to the corporate world. It may also be useful for those seeking a managerial career in the public sector, finance, private industry, and other fields. An MBA is considered to be a career accelerator. It may help you climb the corporate ladder or open doors for a new company and develop your career. It could help to get you a higher role, and probably more professional responsibilities. Or, an MBA might be the trigger for your journey to start your own company.

General Management- A general MBA provides students with a broad base of business and management skills. You will develop basics and skills across all specialties which can be applied in almost all industries in any field. This is an extensive study of all the main management aspects. The curriculum covers basic studies such as finance, marketing, human resources, management, operations, leadership which enable students to improve their know-how and skills in areas related to their career objectives and ambitions.

Specialized MBA may offer you more head start than a general MBA program if you have an idea of the career trajectory. Recently, specialized MBA programs have become more and more in demand. They provide special knowledge in a particular area, unlike general MBAs or non-specialized programs, which allows individuals to expertise in a specific business field or a particular branch. The specialized MBA program develops competent professionals ready-for-the job with knowledge and skills tailored to the needs of a specific industry. A specialized MBA provides profound business education in the selected management role, for example, marketing, finance, IT, operations, etc. In case you want to have a particular management skill, it is best to have a specialized MBA. If you know about your career ambitions and your career path that you want to follow then a specialized MBA is the one to pursue.

Here is the list of MBA specialized programs with their scope:

1. Human Resources Management

It focuses on optimizing employee efficiency to achieve the strategic goals of the employer. It includes policies and processes, recruiting, training, growth, performance evaluation, wage and benefits management, industrial relations, harmonious relations between employers and employees, as well as the balance of corporative practices.

HR Management covers the following topics:

• Employment Relations Law
• Law of Industrial Relations
• Law of Social Security
• Fundamentals of Human Resource Management
• Fundamentals of Industrial Relations
• Fundamental of Labour Laws
• Human Resource Planning
• Performance Management and Appraisal
• Wage Determination and Administration

Since HR professionals play a critical role in selecting the best workforce for a company, almost all big or small companies are hiring them. After completing MBA in HR, one can easily find the opportunity to work in various sectors, such as IT, government organizations, media, newspapers, and in other verticals.

Various job roles available after completing an MBA in HR management are:

• HR Assistant
• Recruiter
• Training and Development Coordinator
• Payroll Specialist
• Human Resource Manager
• Employee Relations Manager
• Compensation or Benefit Analyst
• HR Information System Manager
• Labour Relations Manager

As a fresher, if you have the necessary skill, you can earn around INR 3 to 6 lakhs. If you are qualified superiorly, one can able to generate up to 9 lakhs annually.

2. Finance Management

Finance Management in India has been and will continue to be a major necessity because the value of proper asset management is understood by most of the companies. Financial management is applied to planning and controlling financial capital.

MBA in finance includes some of the following aspects:

• Budgeting
• Costing
• International Finance
• Investment & Securities
• Working Capital Management
• Accounting for Managers
• Business Communication
• Quantitative methods for Management
• Organizational Behavior
• Managerial Economics
• Macroeconomics
• Marketing Concepts and practice
• Corporate Finance
• Strategic Management
• Investment Analysis and Portfolio Management
• Finance Markets
• Advanced Financial Management
• Public Financial Administration
• Business and Corporate Laws
• Treasury and Risk Management
• Mergers and Acquisitions

After completing an MBA in Finance, one can find jobs in sectors like,

• Corporate Banking
• Credit Risk Management
• Asset Management
• Corporate Finance
• Stock Market
• Private Equity
• Sales and Trading
• Fund Management

MBA Finance has an average salary of INR 6 lacs annually in India. With increasing experience and knowledge, the salary increases. The most significant recruiters for MBA candidates are the EY, HDFC Bank, Accenture, TCS, ICICI Banks.

3. IT Management

Today, we live in a world in which technology has come of age and most of us are reliant on even for the smallest things. The human race has evolved in recent years such that it seems extremely unlikely to exist without technology. There is an advanced qualification in IT and a career in IT has many avenues. An MBA in IT integrates business classes with information systems policies and practices. It helps to bridge the gap between executive leadership and technical performance.

MBA in IT covers some of these topics:

• IT Strategic Planning
• IT Outsourcing Strategy and Operations
• IT Consulting and Advisory Practice
• E-Business
• IT Project Management
• Enterprise Business Applications of IT
• Emerging Platforms and Services
• Technology Entrepreneurship
• Technology-Enabled Business Model Innovation

After completing an MBA in IT, one can find jobs in the following areas:

• Project Management
• Business Development
• Cross-Platform Communications
• Product Management
• Product and Corporate Marketing
• Supply Chain Management
• Human Resources
• Business Analytics

The average salary for a fresher after the course is INR 3-6 LPA while for the experience it is INR 10-15 LPA.

4. Marketing Management

An MBA in Marketing is very strong in today’s market trend. It is one of the oldest management studies disciplines. The MBA is suitable for those, who have an interest in entertainment, media, promotions, advertising, Sales, and General Management. With technological developments in the world, the marketing trend has changed and increased. Marketing is involved in promotions, sales, and advertising of the product, competitions, and market trends of the business.

MBA in Marketing covers some of these topics:

• Consumer Behavior
• Advertising Management
• Business Marketing
• SalesForce Management
• Competitive Marketing
• Service Marketing
• Sales Promotion Management
• Product and Brand Management
• Marketing Channel
• Analytical Marketing
• Retailing Management
• Marketing Communication Management
• Customer Relationship Marketing
• Advanced Research Techniques in Marketing

After completing this course, one can find a job in the following sectors:

• Marketing Management
• Brand Management
• Asset Management
• Corporate Sales
• Sales Management
• Digital Marketing
• Media Planning
• Product Management
• Promotional Campaigns

The average Salary for a fresher after completing this course is INR 4-8 LPA.

5. Logistics Management

It is a part of the supply chain management mechanism for preparation, implementation, monitoring of movement and storage, between the point of production and the point of consumption, of goods and services. Focus on the exchange of information between two points is also required. This program provides students with insights into sourcing, inventory handling, the supply chain system, customs legislation, foreign exchange, international trade, information technology.

Logistic Management covers some of the following aspects:

• Organizational Behavior
• Marketing Management
• Economics and Management Decisions
• Operations and Materials Management
• Business Communication
• Introduction to Logistics and Supply Chain Management
• Accounting in Logistics and Supply Chain Management
• Logistics Planning and Strategy
• Lean Supply Chain Management
• Financial Management in the Supply Chain industry
• IT Application in Supply Chain
• Strategic Management
• Business Process Re-Engineering
• Retail Supply Chain Management
• Multi-Model Transportation
• Supplier Relationship Management
• Global Supply Chain and Logistics Management
• Supply Chain Simulation
• Supply Chain Modeling and Design

After completing this course, one can find the following job roles:

• Supply Chain Analyst
• Supply Chain Coordinator
• Logistics and Distribution Manager
• Supply Chain Consultant
• Expeditor
• Materials Planner
• Production Planner
• Sales Order Planner
• Master Schedule
• Demand Planner
• Assistant Buyer
• Procurement Consultant

Relevant Sectors after this specialization is as follows:

• Automotive
• Healthcare
• Apparel and Lifestyle
• Publishing
• Engineering
• Electrical
• Hardware
• FMCG
• Consumer Electronics

Some Major recruiters in this field are

• Damco
• FedEx
• Blue Dart
• First Flight
• Healthkart

The average Salary after completing this course for a fresher is INR 3-7 LPA.

6. Supply Chain Management

Supply Chain Management programs are specifically designed for companies with large channels of distribution. SCM is a systematic approach to manage the production, supplier, distributor, assembler, and logistics network. Depending on the size of the business and the product, a supply chain can be complicated or easy and vary considerably from product to business.

Manufacturing companies with large distribution networks require supply chain professionals.

Supply Chain Management teaches some of the following topics:

• Major business processes
• Role of Internet Technologies in the supply chain
• Supply Chain Inventory Management
• Optimization Models
• Simulation in supply chain planning
• Markov Chains, queuing networks

Following are the job roles offered after completing this course:

• Supply Chain Consultant
• Purchasing Manager
• Strategic Planner
• Supplier Relationship Manager
• Inventory Manager
• Contract Analyst
• Strategic Sourcing Manager
• Supplier Management Analyst
• Supply Chain Network Manager

Relevant Sectors after this specialization is as follows:

• Transportation
• Logistics Companies
• Shipping Corporations
• Aviation
• Manufacturing and distribution
• Multi-product Conglomerates

The average salary for a fresher after completing this course is INR 4-8 LPA.

7. International Business

Today, most of the companies are expanding in the International market. It is the competition age and everybody is trying to adopt the technique of making money. Now companies are more aligned to grow business globally. Many companies are hiring individuals of the International Business domain to boost their business globally.

Following are some course features in this domain:

• Export and Import Management
• International Marketing
• Foreign Exchange Management
• International Finance
• International Logistics

Following are the job roles offered after completing this course:

• International Business Consultant
• International Business Development Manager
• International Marketing Manager
• International Finance Manager
• Export managers and executives
• Global Business Manager
• Export coordinator
• Account Manager
• Brand Manager
• Management Consultant
• Project Managers
• Supplier Manager
• Material Manager

Some of the top recruiters for International Business Specialisation is as follows:

• Bain & Company
• McKinsey & Company
• Boston Consulting
• Accenture
• Citi
• Booz & Company
• Lehman Brothers
• JP Morgan Chase & Co
• Merrill Lynch & Co
• Johnson & Johnson
• Credit Suisse
• UBS
• Bank of America

An individual post MBA in International business can get the initial salary from INR 5-12 LPA.

8. Rural Management

It includes the implementation of rural sector management concepts. This includes the planning, coordination, and oversight of cooperatives and related agricultural organizations. An MBA in rural management prepares students for challenging roles in agricultural and development organizations. They are expected to visit rural areas, to connect with people as part of their fieldwork, and to have a realistic experience working on rural landscapes.

Following are the course features in the rural management domain:

• Rural society and polity
• Economic analysis for rural management
• Rural livelihood and research methods
• Development theories and practices
• Natural resources and sustainability
• Social entrepreneurship
• Legal environment
• Corporate Social Responsibility
• Micro-finance International trade
• Agribusiness
• E-business for rural enterprises

9. Business Analytics

It is one of the top buzzwords for corporations and organizations worldwide. This primarily refers to processes and techniques that turn data into information and insights that drive decisions in business. An MBA in Business Analytics helps you to gather and use the information on various analytical resources to generate business intelligence and support various functional fields in an organization. Statistical and quantitative analysis, explanatory and predictive modeling, fact-based management, and more are extensively used in this discipline.

Following are some course features in this domain:

• Data Analytics Basics
• Applied Statistics
• Query Language
• Business Analytics Application
• Spreadsheet Modeling and Analysis
• Big Data Analytics
• Data Visualization
• Data Cleaning, Normalization, and Data Mining
• Statistical Communication
• Social and Web Analytics
• Legal Aspects of Business
• Industry Application of Analytics

After completing MBA in Business Analytics, one can find the following job roles:

• Business Analyst
• Business Analyst Project Manager
• Data Analyst
• Business Analyst Industry Expert
• Big Data Analyst
• Business Intelligence Expert
• Data Mining Expert

An individual after MBA in Business Analytics can get the initial salary from INR 4-12 LPA.

10. Business Process Management

BPM refers to a structured approach to making the process of an organization more effective, efficient, and adaptable to a changing environment. It is an activity or a series of activities that can meet a certain organizational objective with advanced business processes and with appropriate technologies.

Following are some course features in this domain:

• Process Modeling, Analysis, and Design
• Process Measurement and Metrics
• Business Process Governance
• Organizational Change Management
• Customer Experience Modeling, Analysis, and Design
• Using BPM Discipline with Six Sigma
• Building a Business Architecture
• Business Information Semantics & Rules
• Service-Oriented Integration
• Designing Service-Oriented Solutions

Following are the job roles offered after completion of this course:

• BPM Consultant
• BPM Pre Sales
• BPMS Administrator
• BPMS Manager
• BPMS Process Analyst

An individual after completing MBA in BPM can get the initial salary from INR 4-6 LPA.