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Management

A guide on choosing online MBA electives

Online Manipal Editorial Team | April 12, 2022

An MBA degree advances an individual career in the field of business management on many levels. Earning an MBA in the desired sector provides you with a competitive advantage by providing you with the most up-to-date skills, training, and understanding of the area that your peers may not have, resulting in improved career progression and prospects. 

MBA degree is awarded in a variety of specialisations from which one can pick based on their interests and abilities. There are various online MBA programs choose from if you want to advance your career in the management field.

Here are some of the intriguing facts about MBA specialisation:

  • Management colleges in India provide over 30 MBA specialisations.
  • Formerly, the most sought-after MBA specialisations are finance, marketing, international management, human resources, information technology/systems, operations management, and entrepreneurship. Most students believe them to be the most secure job paths.
  • However, as time and technology advance, necessities change. Business schools and students are gravitating toward emerging MBA specialisations like Business Analytics, Digital Marketing, Global MBA, and so on.
  • MBA degrees in specialised fields such as healthcare management, communications management, innovation, hospitality, and tourism are also becoming increasingly popular.
  • To make the best career option, one must first grasp the numerous MBA divisions.

What exactly is an MBA specialisation?

A company or organisation has several functions and divisions. Business schools allow students to take extra courses and assignments in a certain area/domain such as Marketing, Human Resources, Finance, and so on as part of their optional course during an MBA program. When a student successfully completes a series of optional courses devoted to a certain topic, he or she is given an MBA degree with specialisation from the best MBA courses in that specific area. It assists students in obtaining employment in their field of competence.

What are some different types of MBA specialisations?

Given below are the top MBA specialisations courses in India:

  • MBA in Finance
  • MBA in Marketing
  • MBA in Information Technology
  • MBA in International Business
  • MBA in Operations Management
  • MBA in Leadership
  • MBA in Strategy
  • MBA in Innovation
  • MBA in Entrepreneurship
  • MBA in Analytics & Data Science
  • MBA in Retail Management
  • MBA in BFSI

How to choose an MBA specialisation?

MBA candidates can pursue an MBA General course or a specialisation of their choice in the mentioned program. However, it is important to select the appropriate specialisation because these decisions may make or significantly affect your career. When selecting an MBA specialisation, keep the following points in mind:

  • Specialisation career scope/ placements/ internship prospects
  • Long-term career objective
  • The faculty’s reputation at the institute in the field of specialisation of your choice
  • The teaching of your chosen specialisation
  • The college’s infrastructure for the specialisation of your choice
  • The program’s course fee and return on investment (RoI)

Top MBA specialisations in India

We have listed some of the conventional and new-age specialisations below:

MBA in Finance

Finance is a prominent MBA specialisation that focuses on managerial accounting and control, the Indian capital and money market, banking, privatisation, and international finance. After earning an MBA in Finance, one can pursue various positions in banks, financial consultancies, and financial organisations. With an MBA in Finance, one can also find work in consumer and investment banking, institutional finance, merchant banking, corporate finance, and international finance. There are many online MBA programs in India offering specialisation in the finance field.

As stated above, finance is an ubiquitous role across sectors. MBA in finance helps aspirants build the necessary skills in the in-demand domain and enable a smooth pathway to a successful career. Depending on the sector and experience level, you could find multiple roles for finance professionals. In all roles, you need to work on numbers, accounts and money. Some of the career options a fresh MBA graduate with finance specialisation can seek are below:

  1. Financial Analyst
  2. Account Analyst
  3. Cash Manager
  4. Financial Planning & Analyst
  5. Investment Banking Associate
  6. Credit Specialist
  7. Corporate Controller
  8. Insurance & Risk Manager
  9. Investing Sales Associate
  10. Accountant, and more

Any given job will give you an attractive salary plus a steady career progression within a short span of time. Though it is a traditional domain, even new-age organisations look for skilled finance professionals to run their companies’ finance and account effectively.

MBA in Marketing

MBA in Marketing is equally popular among MBA candidates as MBA in Finance. MBA in Marketing programmes provide several options for students who want to go in the fast lane to generate massive money. MBA in Marketing students must have strong marketing, advertising, and public relations abilities. With an MBA in Sales & Marketing, one may jumpstart their career and advance in the corporate sector.

Marketing is one of the key functions in any organisation. By adopting niche technologies, the marketing domain is evolving as days pass along with the traditional marketing strategies. Though many new job roles have emerged in the marketing field, the core marketing is still having a lot more significance. Some of the career options for MBA marketing graduates are as follows.

  1. Marketing/ Brand Manager
  2. Senior Sales Executive
  3. Business Development Executive
  4. Digital Marketing Specialist
  5. Market Analyst
  6. Account Manager
  7. Research Manager
  8. Monetisation Manager
  9. Content Marketer
  10. SEO Specialist

Abundant job options are available for MBA marketing graduates across industries. You can start a marketing career with a decent salary package. In some roles, you may get commissions for achieving targets. Like finance, this domain also offers a quick career progression as you attain experience.

MBA in Information Technology (IT) & FinTech

MBA in Information Technology has recently become quite popular in Indian B-Schools. Because we live in a technologically evolved world where everything is related to technology, the IT business requires highly certified and talented individuals to manage teams and projects. MBA in IT provides prospective IT managers with knowledge and skills, as well as an understanding of many areas of a project such as project planning, design, selection, implementation, usage, and administration of developing and converging information and communications technologies.

Financial technology (FinTech) is a newly emerged domain by combining both finance and digital technologies. It ensures smooth financial activities and improves the financial inclusion of a large number of the population, who had least exposure to banking and financial instruments. FinTech became popular with the increasing adoption of the internet by introducing various payment methods using smartphones, instant micro-loan facilities, investment and insurance through digital platforms, and many other financial services. It eases banking and other financial services. MBA in IT & FinTech focuses on producing management talents with skills in both technology and financial matters. It is a niche domain with a few skilled candidates. Therefore, you can realise rapid career growth and earn well.

The career options for graduates with MBA IT & FinTech are as follows:

  1. Investment Associate
  2. Venture Associate
  3. Equity Analyst
  4. Crypto Analyst
  5. FinTech Strategist
  6. Project Manager
  7. Program Manager
  8. Information Systems Security Manager
  9. Help Desk Manager
  10. IT Infrastructure Project Manager

As it is an evolving domain, new roles are emerging from time to time. Going forward, we will see more jobs in IT & FinTech when the digital transformation is full-swing. The salary package is comparatively high in this domain thanks to high demand in the IT and FinTech industry.

MBA in International Business

Nowadays, most businesses operate on a worldwide scale, necessitating the use of professional and highly educated personnel to effectively handle corporate operations, management, and administration. An MBA in an international company prepares you for a rewarding, bright, and fast-paced career in global business management. To enter into this industry, one must have exceptional business acumen as well as the capacity to adapt to a multicultural work environment.

MBA in Operations Management

Operations are one of the four pillars of business management, and an MBA in Operations prepares the applicant for all that is required to manage a firm efficiently and effectively. Planning, coordinating, managing, and overseeing production processes are all part of an MBA in Operations Management. This specialisation is suited for people with a background in engineering.

An MBA in Operations Management gives hands-on skills and practical knowledge in the domain. It covers enterprise research planning, logistics & supply chain management, quality management, project management, and more. An MBA in Operations Management will prepare learners to grow in their careers and be relevant throughout their professional lives. Some of the job roles you can explore with an MBA in Operations Management are given below:

  1. Operations Manager
  2. Plant Manager
  3. Area Operations Manager
  4. Manufacturing Consulting Manager
  5. General Operations Manager
  6. Process Reengineering Manager
  7. Supply Chain Manager
  8. Operations Delivery Incharge
  9. Logistic Manager
  10. Quality Manager, and more

Along with a lucrative package, an MBA in Operations Management enables you to climb up the organisational hierarchy and reach the leadership role in a short span of time. 

MBA in Leadership

MBA in Leadership programs are becoming widely attractive. It provides students with an interdisciplinary business education as well as the important qualities of leadership required for business success. This MBA in Leadership program often emphasises fields such as finance, management, and marketing, as well as team-building, corporate communication, and dispute resolution techniques.

MBA in Strategy

Management programs that focus on strategy have earned a favourable response from MBA candidates in recent years. MBA in Strategy students are equipped with the strategic thinking skills essential for effective management of competitive market dynamics. Industry and environmental analysis, internal analysis and competitive advantage, organisational structure, design and alignment, market evolution, and dynamics are among the strategic lessons.

MBA in Entrepreneurship

The MBA in Entrepreneurship is intended for those who want to be successful entrepreneurs. To ensure a company’s ongoing development, businesses today engage professionals for management positions who can successfully manage operations and lead the organisation.

MBA in HRM

Human Resource Management (HRM) is a traditional domain with great scope in this VUCA world too. A MBA in HRM can give you the necessary career boost – both in terms of earning potential and the much-needed entry into HR roles. Whether you aspire for a career in talent acquisition, talent management, and other HR fields, MBA with human resource management will help you hone the required skill sets that will enable you to secure a suitable role in a top organisation.

The MBA programme with human resource management covers various facets of HR. Our syllabus includes manpower planning & sourcing, management & organisational development, employee relation management, talent management & employee retention, and more. An MBA HRM will prepare learners with all the in-demand human resource knowledge and skills and make them future-ready.

An MBA HRM amplifies your career prospects as an HR manager, talent acquisition consultant, payroll specialist, talent development manager, and many more. MBA in human resource management curriculum covers all the important aspects of HRM in detail and ensures that you thrive in your job.

MBA HRM job opportunities are below:

  1. Human Resource Manager
  2. HR Advisor
  3. Recruitment Consultant
  4. Talent Acquisition Specialist
  5. Payroll Specialist
  6. Employment Relations Manager
  7. MIS Executive
  8. HR Consultant
  9. Training and Development Specialist
  10. Client Service Professional

MBA in Analytics & Data Science

Analytics & Data Science has emerged as one of the most in-demand domains in this digital age. An MBA in Analytics & Data Science will give you the necessary career boost – both in terms of earning potential and the much-needed entry into the Analytics and Data Science domain. An online MBA with Analytics & Data Science will help you hone the required skill sets that will enable you to secure a lucrative position in a top organisation.

MBA programme in Analytics & Data Science provides learners with hands-on skills and practical knowledge in the domain. MBA in Analytics & Data Science syllabus includes programming in data science, machine learning, data visualisation, business analytics, and more. An MBA in data analytics will prepare learners to grow in their careers and be relevant throughout their professional lives.

Organisations across industries are adopting various data science and analytics principles and practices to streamline their operations. Skilled data analysts and data science candidates are the most sought-after professionals across the globe. An MBA in Analytics & Data Science will help students enter and thrive in their jobs. Some of the career options for MBA graduates in Analytics & Data Science are below:

  1. Data Analyst
  2. Business Analyst
  3. Data Engineer
  4. Data Science
  5. Data Visualiser
  6. Machine Learning Specialist
  7. Machine Learning Engineer
  8. Business Intelligence Specialist
  9. Database Developer
  10. Marketing Analyst, etc

MBA in Retail Management

Increasing consumerism around the world has ensured a steady and continuous growth of the retail sector. An MBA in Retail Management will create retail management professionals with required skill sets to face the dynamic market. It will give the necessary career boost – both in terms of earning potential and the much-needed entry into the retail sector.

This MBA programme in Retail Management provides hands-on skills and practical knowledge in the domain. The MBA in Retail Management syllabus includes enterprise resource planning (ERP), customer relationship management, operations management, international retailing, rural retailing, and more. An MBA in retail management will prepare learners to grow in their careers and be relevant throughout their professional lives.

Companies in the retail space are on a constant look out for talent that can meet the growing demand in the competitive sector. Hence, skilled professionals will generally land themselves a good job without much hassle. Followings are some of the job options for the MBA graduates in Retail Management:

  1. Retail Executive
  2. Territory Manager
  3. Rural Mass Retail
  4. Store Manager
  5. Merchandiser
  6. Supply Chain Distributor
  7. Warehouse Manager
  8. Retail Sales Manager
  9. Purchase Manager
  10. Retail Advertiser, and others

MBA in BFSI

Did you know that the banking, financial services, and insurance sector generates maximum jobs in the world? An MBA in BFSI will enable you to hone the required skill sets in the sector and give you the necessary career boost – both in terms of earning potential and the much-needed entry into the BFSI sector. An MBA in BFSI will help you secure a lucrative position in a top bank or any financial institution.

The MBA programme in BFSI gives hands-on skills and practical knowledge in the domain. MBA in BFSI syllabus includes bank management & financial risk management, treasury management, life insurance and general insurance management, and more. An MBA in banking, financial services, and insurance will prepare learners to grow in their careers and stay relevant throughout their professional lives.

BFSI is a rapidly evolving sector consisting of varied enterprises such as banks, insurance companies, non-banking financial companies (NBFC), mutual fund providers, and many more. These companies always hunt for dynamic and enthusiastic talents to meet the growing demand. The MBA elective in banking, financial services, and insurance will make learners job-ready.

Some of the jobs for MBA graduates in BFSI are below:

  1. Bank Manager
  2. Finance Officer
  3. Insurance Advisor
  4. Financial Consultant
  5. Investment Banker
  6. Investment Analyst
  7. Accounting Manager
  8. Cash Manager
  9. Credit Manager & Specialist
  10. Insurance and Risk Manager, etc

Conclusion

Acquiring an MBA specialisation may be well worth the time and money. An MBA provides a significant financial and personal return on investment (ROI). MBA specialisations are in higher demand than ever before. Employers who appreciate educated, self-starting executives with strong critical thinking abilities. There are abundant benefits of an MBA degree in various sectors. So get started now and establish a successful career.

Currently, MUJ (Manipal University Jaipur) offers an online MBA programme through Online Manipal. The online MBA at MUJ is a comprehensive curriculum which was delivered through the state-of-the-art learning management system (LMS). Online MBA comes with eight electives, including Finance, Marketing, HRM, Operations Management, Retail Management, Analytics & Data Science, BFSI, and IT & FinTech.

World-class faculty with extensive experience in the industry and academia takes the classes. Students can access study material on the LMS with an internet-enabled device and learn from anywhere at their convenient time. Study material includes e-tutorials, live and recorded classes, quizzes, e-library, and discussion board. Additionally, students get free access to Coursera and INR 50,000 additional certificate courses with MUJ’s online MBA, besides industry-connects and placement assistance.

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