MBA is a course which offers wide range of specializations. A candidate has to choose an MBA specialization for his/her studies. In India mostly institutions provide specializations and subjects. Some institutions offer specializations that are not offered in other schools, so you may even think and decide which specialization you want to choose even before you join an MBA course. These two decisions, institution and the specialization, make a huge difference in the end result of your course. Read more about choosing an institution in another article What to look in a B-School before Admission?
How to Choose an MBA Specialization?
Here we discuss different factors a student should consider before choosing an MBA specialization.
1. Credibility of Specialization
Your specialization should give you an opportunity to reach your goal. Every specialization requires hard work in the career to excel and succeed. The difference occurred in individual success and performance. This happens in all specialization regardless of which one you choose. Choose a correct one based on how it can give you returns.
2. Don’t Follow Trends
Trends for particular specialization are for a short time. So if you follow trends it is not wise decision for a life time. Think about choosing a specialization according to the trend but trends change when you are completing the course. Don’t look and follow seasonality trends. The trends say about crest and trough not more than that.
3. Your Interest Matters Much
It is important to understand your interest in job and career. First of all we need to understand whether we interested in broad general management or specialized area of work. If you want to work in specialized areas then check your interest in particular area. If you choose one specialization which is not your interest but someone else preference, then you are not selecting a good future, I say. In such case you may end up in non-satisfied career and discouragement.
4. Career Plan
The selection of specialization depends on your career plan. If you want to become HR Manager, you must take HR as your specialization, if you want to work in finance, you must choose finance as your specialization etc. If you want to become an entrepreneur, you must choose specialization depends upon the category and need of your business you want to start.
5. Your Strength, Weakness and Personality
Each person has specific character traits, strengths and weaknesses. Understanding them will help you to choose specialization which helps you most in your future. Some prefer work satisfaction and ethics over money, some prefer high packages, some have strong analytical skills, some have leadership skills, some have interest in travelling, some like to work in offices, working as a team is some ones passion, working in solitary environment is others passion, thus each one is different with others. So choose specialization depends on your strength, weakness and personality.
6. Scope of Specialization
Career scope and opportunity will be different for different specialization. Research the scope of each specialization and skills and other requirements needed to excel in the field should also be identified before choosing your specialization. You should also find the possibility of growth path the specialization can provide to you, the possibilities that suit you, and the challenges that you may face.
7. Understand the Curriculum and B School
In MBA you must understand specialization and curriculum before joining a college. This is because specialization and curriculum offered by institutions are different. The thorough understanding of the curriculum helps you to choose your specialization. You must choose correct program for your choice. Understand that one program in one B School will not give same ranking for other program.