Consider doing MBA Specialization to Boost your Earnings
If you’re a grad student and are at the crossroads of your life trying to give your income a boost, here’s a tip-off- consider doing MBA specialization from a good business school. It will increase your chances of landing a job that pays you extremely well. Let’s find out how by doing an MBA specialization, you enhance the growth rate of your career graph.
B-schools offer different types of MBA specializations and they may vary greatly depending on one institution to another. Further, the rankings of a university for a particular course differ from its rankings in other courses. The choice of a university, therefore, may vary drastically depending on the specialization a student wants to pursue. The choice of a specialization is an important decision to be made. This decision may be based on the following factors:
• Educational background of a candidate
• Work history
• Career objectives
Nevertheless, there always remain concentrations that are more popular than others. The top 3 rated specializations in Business schools are finance, accounting, and marketing.
Source: Ready4 report
The experts also reveal that the specializations that are offered at B-schools may also be aligned with research centers, especially, the medical industry.
Having talked about the popular specializations, the specializations may also be categorized on the basis of salary potential. The earning trends of MBA candidates vary to a large extent depending on their specialization. Following is the listing of top 5 MBA specializations on the basis of salary potential as per 2016-2017 PayScale salary report:
2. General and Strategic Management
3. Corporate Finance
4. Operations Management
5. Operations and Supply Chain Management
*Career Coach Tip*
A broader perspective is that a consulting profile with specialization in health care is a rare combination and therefore, very well rewarded career option.
Why must you consider doing MBA specialization?
When you do a specialization of any sort, you gain a lot of competitive advantage. Also, there are certain skills you acquire, only, as a result of specialization. You even find yourself in a place that enhances the learning process of the latest trends in the industry. With all the learning and acquired skills, you can do a lot of value addition to the companies you work for. Thus, the companies find a great deal of interest in recruiting you as their team member. That is why; your chances of landing at the interviews along with jobs are significantly increased.
Besides what you get to learn during a course, the specialization holds a lot of significance due to several other reasons. The recruiters, these days, have started expecting specialization from job seekers. Therefore, in order to impress the employers and to be considered for a good placement- there is no choice than to consider the path of MBA specialization. Even more, the specializations add a lot of credibility to your profile if you’re an MBA candidate.
Last words: If you’re a prospective MBA student, you must first evaluate your interests in terms of specializations and then look at the placement records (minimum 3 years) of the business school you’re considering. This will help you effectively gaze at the offerings of different schools to their students.
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