 |
|
|
|
Obtaining an MBA is a great way to bolster your business knowledge, increase your earning potential, establish valuable networking contacts, and propel your career in a forward direction. While general MBA programs can certainly provide all of these benefits, many schools are now offering specialized MBAs in specific fields or industries, and a growing number of business students are opting to specialize.
MBAs: Why Specialize?
A "traditional" (non-specialized) MBA offers a very broad business education, but there is not much opportunity to focus on specific sub-fields. By narrowing the scope of the MBA, you have the opportunity to zero in on practical and commercial applications of your education in your specific area of interest.
Additionally, having a specialized MBA in your field can easily give you a competitive edge when applying for a job in that sub-field. Specialized areas require people with specialized skills, and in many situations employers are likely to show preference for candidates with more focused backgrounds. Importantly, jobs that require specialized MBAs are very often much more lucrative.
MBA Specializations: Focuses and Career Options
As specialization becomes more popular, schools are beginning to offer more and more program options. Among the most popular specialized MBA programs are:
Accounting: This specialty can prepare you for a career as a financial analyst, IRS agent, or internal auditor, among others. You are trained to audit company financial records and corporate taxes, and you can also learn how to review corporate budgets, provide financial planning advice, and offer advice on improving information technology operations. Typical coursework includes Cost Accounting, Budgeting, and Accounting Information Systems.
Finance: These programs produce graduates who go on to become various types of financial analysts, including industry or product analysts, risk analysts, and fund managers. You can learn how to manage and invest money in an intelligent way, assess and manage risk, and advise individuals and corporations on their financial decisions. Coursework such as Capital Budgeting, Mergers, and Risk Management are common.
General Management: If you're looking to move in to a managerial position, this specialty might be appropriate for you. While providing a strong general background in many aspects of business, these programs also focus on skills necessary to run a business or organization as a manager. You can expect coursework to cover topics like Managerial Decision-Making, Leadership, and Managing Conflict in the Workplace.
Health Care Management: This specialty is usually chosen by those students looking to move into administrative positions in the health care field, often in hospitals. You will be prepared for these roles by learning the details of the health care system and the complex ways in which internal components work together, and you can gain management and leadership skills in the process. Health Care Marketing, the Health Services System, and Legal Aspects of Health Care are all courses you might find in these programs.
Operations Management: Operations Managers implement the skills they learn in an MBA program--such as manufacturing process optimization, product development, communications, and market analysis--to help manage and improve a company's operations on a broad scale. If you pursue this specialty, you can expect some coursework in Organizational Behavior, Supply Chain Management, and Production Planning and Control.
Systems Management: Careers as Systems Analysts or Supporting Experts can be entered into following a course of study in Systems Management. You can learn about how business strategy affects the interaction of businesses with the marketplace, and develop skills in leadership, team-building, and organizational management through courses such as Strategic Information Systems Management, Data Communications, and Systems Analysis and Design.
Human Resources Management: Human Resources executives interface between top management and various levels of employees within an organization. Through development of leadership and interpersonal skills and a broad business education, you should be prepared for a career in this field. Courses in Negotiations, Organizational Behavior, and Operations Management are typical.
International Business: Administrative Managers, Global Business Managers, and Chief Executive Officers of global companies--all of these roles can be achieved after completion of an International Business MBA. Coursework in International Finance, Global Economics, and Monetary Policy prepares you for these high-profile, highly-skilled positions that require a keen awareness of global markets and international business.
Entrepreneurship: If you have business experience and are interested in building a business from the ground up, an Entrepreneurship MBA may be a good choice for you. You can take courses in Marketing, Financial Management, Business Operations, and Entrepreneurship to prepare you to start your own business and be your own boss. Alternatively, you should be primed to foster and grow business ventures within established organizations.
Marketing: Prominent and lucrative careers in sales, consulting, brand management, and market research can all result from successful completion of a specialized Marketing MBA. A broad business education with an additional focus on marketing strategy is what this specialty provides through courses such as Consumer Behavior, International Marketing, and Marketing Strategy.
MBA Program Types
There are MBA program options for nearly every lifestyle and preference. Consider your own home and work situations, and choose the option that best suits you from the list below.
Which Specialization is Right for You?
When choosing a specialized MBA program, consider your experience and your career goals. Talk with managers and executives in your company in various roles, and decide which direction you'd like to head. A specialized MBA is usually the start of a long and increasingly successful career in your field of choice, so make sure your experience is substantial enough for you to be sure that your specialty is where you see yourself staying for a while. Regardless of your choice, your specialized MBA positions you for longstanding career success.
Copyright © QuinStreet, Inc. All Rights Reserved.
