Why should you pursue an MBA?
In general, MBA programs aim towards instilling leadership and people management skills and supplementing one’s business acumen. All of which are incredibly crucial for augmenting the business’s growth. When secured from a prestigious college with a reputed alumni & organizational network, the degree can make all the difference. Such colleges pave the aspirant’s way to numerous jobs with impressive packages in specializations like Marketing, Finance, Human Resources, and Operations. Although securing admission in such schools is not an easy feat. The prominent B-schools prefer candidates who hold a prior work experience of about 3-5 years and a strong academic background. Many career prospects in Digital Marketing, Business Analytics, Engineering Management, and Financial Accounting open up for MBA graduates. Hence, in an era of an ever-declining economy, an MBA degree is the most needed.
Factors to be considered while selecting an MBA specialization
There are several factors that one should take into consideration while making this life-altering decision. The specialization that you choose is the one that you will have to live with for the rest of your professional career. Hence, it is imperative that you read the list below to gain a thorough understanding and thus be in a better position to take this decision.
Acknowledge your Strengths and Weaknesses
It’s of utmost importance that you conduct a self-analysis of your capabilities and become well-acquainted with your strengths and weaknesses. Knowing your preferred fields of interest will narrow down that huge list to the specialization that will be best suited for you. Moreover, an MBA specialization is not something that everyone can afford. Hence you must do the necessary planning before-hand, rather than regretting it later.
The Curriculum of the specialization
The onset of technology has also introduced a plethora of specializations into the program like Business Analytics, Operations, Finance, and Marketing among many others. Hence, with more options available, more job opportunities arise, and therefore the aspirant should choose wisely the one he wishes to pursue in life.
Know your Long-Term Career Goals
There are a plethora of specializations available depending on the core functional areas such as Marketing, Finance, or HR that one wishes to perform under. Hence, knowing the role in which you aspire to be in the long-run makes the process of selecting the preferred specialization much easier and faster. Among the preferred list of specializations, evaluate the one which will push you the closest to your long-term goals. Moreover, placement statistics like average salary and placement percentile are some of the factors that one should also check before hastily just applying for one,
MBA Specialization Accreditations
It’s of utmost importance that one first conducts a background check of the school before just enrolling in it. Crucial aspects like whether the program is internationally/regionally certified and recognized and the placement statistics of the school should be first checked. Ignoring this factor has resulted in the fall of many young minds, along with their money and time going to vain as well. Hence, it is of the essence that you be well-equipped with the knowledge of the best schools in the domain that provide top-grade knowledge of your preferred specialization. Some well-renowned sites on the internet like QS Global and FT Ranking categorize the specializations on the basis of the above-mentioned factors.
Length of the specialization
Each applicant must ensure whether the program’s schedule is as per their suiting or not and if they can adjust to it. While the average length of the program is around 20 months, some can even take as low as 10 months for completion. Another thing that should be checked is whether the program is part-time or full-time, and which out of them both will best suit their schedule. Some aspirants wish to kickstart their professional careers early in their life and hence look for specializations with a shorter duration.
Thus, in the end, it depends upon your personal choice and career goals which specialization you want to choose. The above-listed factors will make it easy for you to decide which school and MBA specialization will be the best suited for your goals. The rest depends on your capability to utilize the resources available and apply yourself as much as you can.