Top 5 MBA Specializations in India

What is the MBA Specialization?

All business comprises different departments which work together to achieve the business goal. The students who pursue an MBA get a better understanding of different departments and functions in a business by selecting elective courses from the list of MBA courses in a specific domain such as marketing, human resources etc. These elective courses are designed in a way that they give complete in-depth knowledge and skills about the course elected for specialization. Completing specialization in a particular domain makes students confident enough to secure employment in their area of expertise. 

How to choose MBA Specializations?

Scope: Students should choose a specialization with a wider range of career options so that after completing their MBA degree they get better job opportunities.

 Reputation of the Institute: Students should always choose the college or institute that is known for the specialization that the student wants to pursue. It is advised that students should check the ranking of the institute on various ranking agencies like NIRF, Outlook etc.

ROI: Students should also focus on the returns which they can get after their MBA. So they should choose those programs which at least give twice the amount of investment.

Placement Record: Before selecting any program, students should check the previous year’s placement records of the program, this gives a better idea about the future career opportunities.

Pedagogy: Students should also focus on the faculty of the institute before selecting a program.

List of Top 5 MBA Specializations in India

1) MBA in Finance

An MBA in Finance is one of the most popular choices in the list of MBA specializations as this field has immense chances for growth. After doing specialization in finance the person will focus on accounting management, planning and controlling of financial resources of industry, banking, privatization etc. 

# Subjects in MBA Finance Course?

After selecting a specialization in finance, students will study the mentioned topics –

• Accounting for Managers
• Business Communication
• Quantitative Methods for Management
• Managerial Economics
• Organizational Behavior
• Macroeconomics
• Marketing Concepts and Practice
• Corporate Finance
• Strategic Management
• Investment Analysis and Portfolio Management
• Financial Markets and Institutions 
• Advanced Financial Management
• Public Financial Administration
• Business and Corporate Laws
• Human Resource Management
• Information Technology for Finance 
• Production and Operations Management
• Treasury and Risk Management

# Top MBA Colleges in Finance

These are the top colleges which offer the best academic and practical aspects of an MBA in Finance 

• SP Jain Institute of Management and Research
• Narsee Monjee Institute of Management Studies
• Jain University
• Institute of Management – Christ University (IMCU)
• Lal Bahadur Shastri Institute of Management (LBSIM)
• National Institute of Bank Management
• Amritsar Group of Colleges (AGC)
• Xavier Institute of Social Service (XISS) 
• IBMR Business School
• Chhatrapati Shivaji Maharaj University (CSMU)
• International School of Business & Media (ISB&M)
• Universal Group of Institutions (UGI)

# Job Scope and Salary after MBA in Finance

After completing MBA in Finance the starting annual salary package of a student varies from INR 2,00,000 to INR 15,00,000.

Some of the top recruiters for MBA in Finance are – 

• Goldman Sachs
• Morgan Stanley
• Merrill Lynch
• JP Morgan
• EY (Ernst & Young)
• Capgemini Consulting

After an MBA in Finance, the student gets the following career options 

• Asset Management
• Corporate Finance
• Corporate Banking
• Credit Risk Management
• Derivatives Structuring
• Hedge Fund Management
• Private Equity
• Treasury
• Sales
• Trading
• Finance Ministry
• Stock Market

2) MBA in Human Resource Management (HR)

MBA in HR Management is another popular MBA specialization as it trains the students with all the skills, concepts and knowledge required to manage human resources and generate leads for the success of the company. This program teaches about recruiting, training, team building, performance updates, employee health, employee policy, employee health and safety etc. If a person has good communication skills and can handle tough situations then he should think of doing this course.

# Subjects in MBA in HR Course

Students pursuing an MBA in Human Resource Management will study the following subjects –

• Employment Relations Law – Law of Industrial Relations
• Employment Relations Law – Law of Social Security
• Fundamentals of Human Resource Management
• Fundamental of Labor Laws
• Performance Management and Appraisal
• Fundamentals of Industrial Relations
• Human Resource Planning
• Wage Determination and Administration

# Top MBA Colleges in HR Management

HR Management is offered in many Management colleges in India as it is the most opted choice in the list of MBA specialization. A few of the popular colleges offering HR Management are – 

• Xavier Labour Relations Institute 
• Tata Institute of Social Sciences 
• International School of Business and Media
• Jayoti Vidyapeeth Women’s University
• GNA University
• Faculty of Management Studies (FMS) – University of Delhi
• Management Development Institute (MDI)
• Indian Institute of Management (IIM) Ranchi
• Management Development Institute
• Chandigarh University
• University of Petroleum & Energy Studies (UPES)
• SUN International Institute for Tourism and Management (SIITAM)

# Job Scope and Salary after MBA in HR Management

 The annual salary package after specialization in HR Management lies between INR 4,50,000 to INR 15,50,000. 

Some of the top recruitment companies for HR Management are –

• Randstad
• Kelly Service India
• Mercer India
• Adecco India
• Black and White business solutions
• ABC Consultants
• Genius Consultant Ltd.
• Career expert
• Talent Mappers

Career options MBA in HR Management are –

• HR Assistant
• Technical Recruiter
• Training and Development Coordinator or Manager
• Payroll Specialist
• Human Resource Manager
• Employee Relations Manager
• Compensation or Benefit Analyst or Manager
• HR Information Systems Manager 
• Labour Relations Manager

3) MBA in Information Technology (IT)

IT Management is the management of all information resources of a company which includes computer hardware, software, networks, data, data center facilities etc. MBA in Information Technologies educates students on how to manage the planning, design, selection, implementation, use and administration of emerging and converging information and communication technologies.

# Subjects in MBA in Information Technologies

The syllabus of the MBA in IT comprises of following subjects –

• Enterprise Business Applications of IT
• IT Strategic Planning
• IT Outsourcing Strategy and Operations
• IT Consulting and Advisory Practice
• E-Business
• IT Project Management
• Emerging Platforms and Services
• Technology Entrepreneurship
• Technology-Enabled Business Model Innovation

# Top MBA Colleges in IT Management

Some of the top colleges in India which offer MBA in Information Technologies are –

• Jamnalal Bajaj Institute Management Studies (JBIMS)
• Balaji Institute of Modern Management
• Lloyd Business School
• ASM Group of Institutions
• University of Engineering & Management (UEM)
• Symbiosis Centre for Information Technologies
• KJ Somaiya Institute of Management Studies and Research
• Bharatiya Vidya Bhavan Institute of Management Science (BIMS)
• Bharati Vidyapeeth University Institute of Management (BVU)
• Chandigarh University (CU)

# Job Scope & Salary After MBA in Information Technologies 

The students pursuing an MBA in IT can accept a salary package of INR 7 lakhs to INR 30 lakhs.

The famous companies that hire students for MBA in IT are –

• Google 
• Facebook
• Qualcomm
• Adobe
• F5 Networks
• Apple

Career options after MBA in Information Technologies are –

• Project Manager
• Information System Manager
• Consultant
• Product and Corporate Marketing
• Cross-Platform Communications 
• Business Development Manager
• Strategy and Planning 
• Product Manager

4) MBA in Business Analytics

In MBA in Business Analytics, students are taught how to create data-based business strategies. In this course, students also learn how to process and read large amounts of data to generate results and provide real-world solutions and strategies beneficial for the growth of a business.  

# Subjects in MBA in Business Analytics Course

Following are the subjects taught in the MBA in Business Analytics course –

• Financial Accounting
• Risk Management
• Data Modelling
• Big Data Analytics
• Financial Analysis
• Computational Methods
• Data Mining
• Statistical Analysis
• Business Intelligence
• Optimization Analysis
• Simulation Modeling

# Top MBA Colleges in Business Analytics

Here is a list of top MBA colleges which offer specialization in Business Analytics –

• Manav Rachna University
• VELS University
• Galgotias Business School
• Chandigarh University
• BIMS Kolkata
• Christ University Institute of Management
• DIT University
• UPES Dehradun
• Versatile Business School
• International Institute of Business Studies
• VGU Jaipur
• GLIM, Chennai

# Job scope and salary after MBA in Business Analytics

The salary package of a student with a specialization in Business Analytics varies from around INR 6 lakh to INR 20 lakh annually.

The best career options for MBA in Business Analytics are –

• Business Analyst
• Data Analyst
• Data Scientist
• Quantitative Analyst
• Market Research Analyst
• Data Mining Expert
• Data Warehousing
• SAS Programmer
• Predictive Modeler

5) MBA in Logistics and Supply Chain Management

MBA in Logistics and Supply Chain Management deals with planning, implementing, and controlling of flow and storage of goods and services between point of origin to point of consumption. The need for a new kind of supply chain, logistics or operations manager in companies lead to the addition of this program to the list of MBA specialization courses.

# Subject in MBA in Logistics and Supply Chain Management

The syllabus of the MBA in Logistics and Supply Chain Management comprises of following subjects –

• Economics and Management Decisions
• Organizational Behavior
• Marketing Management
• Operations and Materials Management
• Business Communication
• Introduction to Logistics and Supply Chain Management
• Accounting in the Logistics and Supply Chain Sector
• Human Resource Management
• Logistics Planning and Strategy
• Lean Supply Chain Management
• Financial Management in the Supply Chain Industry
• IT Application in Supply Chain
• Strategic Management
• Business Process Re-Engineering
• Multi-Model Transportation
• Supplier Relationship Management
• Supply Chain Modeling and Design
• Supply Chain Simulation
• Global Supply Chain Management 
• Logistics Management
• Procurement Consultant Management

# Top Colleges in MBA in Logistics and Supply Chain Management

• Amity Business School
• School of Business, University of Petroleum and Energy Studies
• Presidency University
• School of Management, Dr. DY Patil University
• VELS Chennai
• BML Munjal University
• ADYPU Pune
• Mansarovar Global University
• Lovely Professional University (LPU)
• Institute of Logistics  & Aviation Management (ILAM)

# Job scope and salary after MBA in Logistics and Supply Chain Management

The annual salary package after an MBA in Logistics Management is more than INR 7 lakhs.

Top employers for MBA in Logistics and Supply Chain Management are –

• Damco
• FedEx
• Blue Dart
• First Flight
• HealthKart
• GAIL
• ONGC
• NHPC

The best career options for MBA in Logistics and Supply Chain Management are – 

• Supply Chain Manager
• Supply Chain Consultant
• Logistics and Distribution Manager
• Supply Chain Analyst
• Supply Chain Coordinator
• Expeditor
• Materials Planner
• Production Planner
• Sales Order Planner
• Master Scheduler
• Demand Planner
• Assistant Buyer

Conclusion 

Therefore the best MBA specialization varies for each individual, depending on their unique blend of interests, skills, and career objectives. Before selecting any specialization students must conduct thorough research, seek guidance from professionals, and align their aspirations with the programme. In conclusion, the choice of MBA specialization in India is a crucial decision that can shape a student’s career. Each specialization has its own merits and demerits. Understanding your strengths, passion, and career goals will help you make an informed choice, ensuring a fulfilling and successful MBA journey in India.