The Best MBA Branches In B-SCHOOLS
Do you know which branch you want to do your MBA from? Which MBA branches offer the best packages or the best jobs? Find out here. By IIM Skills – online CAT coaching
MBA is a versatile degree with many specializations offered by the best management colleges. In this article, we are going to learn about the MBA specializations that are the most popular and in demand.
If you are on the fence about which one of the best MBA branches to pick, read this and find out.
Being a CAT aspirant, who is planning to get a seat in one of the best management colleges, we are sure you must be overwhelmed with the choice.
There are different branches that have their own characteristics. Some give you exposure to the market, some take you to reputable positions in the economic world, some get you the most money, and so on.
But you need to be aware of why you want to study in a certain MBA branch.
in order to remove your confusion, we have provided information about the 10 most popular MBA branches in the best B-schools in India. We hope that this information will help you decide according to your preferences, which branch suits you the best or in which branch can you see yourself growing professionally.
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Need for choosing MBA branches early
Knowing your branch of preference in an MBA early is important. Although all the management branches teach you most managerial skills, your branch-specific skills are what recruiters are interested in.
The maximum number of placements in MBA colleges overall is in the marketing and sales branches because those branches are most in need of corporations.
On the other hand, finance that is another branch with a high number of placements is required in banks and other financial institutions.
For best MBA branches like supply chain and Information Technology, the recruitment companies check for the most suitable profile of the candidate before placement.
Companies test if the candidate has the required skill set, like strong decision-making skills and relevant experience.
Many times recruiters look for past credentials to find relevance to the branch of the candidate to see that the candidate is genuinely interested in that branch.
This is why knowing your MBA branch of choice is necessary to become a favored recruit. If a higher package is what you are after, you should go for marketing or finance branches and prepare your profile as such even before entering college.
Indian students usually go for an MBA due to the following reasons:
- Career growth
- More impactful role
- Changing industry
- Higher package
- Promotion or pay raise
To get these benefits, you have to choose the best MBA branches for you that fulfill your requirements as well as suit you or challenges you.
Below are some of the best MBA branches in Indian management colleges
MBA in Finance
Finance is one of the most sought-after MBA branches among all MBA aspirants. An MBA in finance makes you an expert in finance and related areas which makes you a great asset to financial institutions like banks, financial regulatory institutions like RBI, IMF as well as the financial department of any company or organization.
MBA in Finance teaches you many subjects like capital management, international finance, costing, budgeting, data analytics, and more. These subjects are also very important in the roles of policymaking if ever you decide to go in that direction.
The finance degree from the best management colleges is very much needed in the banking sector since there is a lot of vacancy in the banks of India for people who are expert in the financial know-how.
But apart from the banks, other companies like insurance, mutual funds, investment banking, stock exchange, and financial consulting industries also require talented candidates and offer huge packages in return.
An MBA in finance is guaranteed to land you a very high-paying job full of impact depending upon your role.
MBA in Marketing
Marketing specialization is for candidates with excellent communication skills who like to be in the center stage.
Some qualities needed in candidates for MBA in marketing are interpersonal skills, Enthusiasm, dynamic personality, presence of mind to deal with unpredictable scenarios, crisis management, understanding of the market, and so on.
The candidate must very well understand the consumer segmentation and behavior in his concerned target market. He/she must be able to analyze and draw insights from consumer data and devise strategies to take advantage of the information.
An MBA in marketing is not a cup of tea for many. If you are interested in marketing specialization, you must have a CV that is consistent with marketing.
This is for your recruitment as well as for you. Do you have any experience in sales? Did you promote any movement, event, or committee in college? Is there any role with the help of which you can demonstrate your marketing skills.
Understanding the market is an important skill and requirement for any company that is selling a product or service. It doesn’t matter if the product is the greatest product ever made unless it has a market.
Without a market, there will be no production. The market has to be big enough for production to be viable.
Because the production of any product entails huge investment in ideation, design, testing, production, labor costs, advertising, distribution, etc. the costs incurred by the company in developing a product and bringing it to the market, must be covered by the revenue generated by the sales.
And if the product fails, which may happen due to a number of reasons, it will cause a huge loss to the company.
Marketing jobs that require an MBA give lucrative packages to students. This is because marketing professional is directly connected to the market, they are the link between the company and the market.
You can develop product prototypes, business plans, marketing, and advertising strategies, handle communication and much more to generate a favorable image of the company in the market.
Marketing specialization can get you a job in any company that sells a product like an automobile, food, technology, electronics industry but you can also work for a cause in companies that aim to protect the environment like Greenpeace, or aim to eradicate social issues in organizations like UNICEF to generate awareness.
Marketing division in a company is so important that many experts believe some of the biggest companies in the world like Coca-cola, exist largely due to their marketing.
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MBA in Human Resource Management (HRM)
HR or Human Resource is another specialization that is popular among candidates. The job of an HR professional mainly includes the management of the people in the company.
It entails roles like hiring and recruitment, training of new and existing employees to new technologies, managing and engaging labor as required, addressing grievances and complaints, ensuring a healthy and safe work environment for all employees, package settlement, perks, and benefits, etc.
An HR manager must be good mediation skills, interpersonal skills, tact, must maintain confidentiality, and look after the employees’ interests.
All the big companies require the Human resource department. You can work in any company in any industry since the job role is mostly the same in every company.
You will be there to manage the most important asset to any company- its employees. The HR department exists to employ the right people for the right roles so they prove to be valuable and consistent with the goals of the company.
The need for Human Resource Management was felt in the 1900s when companies started recruiting people who can recruit great talent for the company.
The role then expanded to the right job roles for candidates that properly utilize the employee’s skill set. It was also required to pay the correct salary to retain the employee based on how valuable they might be to the company.
Perks and employee benefits were introduced for improving the productivity of great employees and show that the company cares for them.
HR department’s role became ensuring that the relationship between the employee and the company must not remain just transactional but it must entail a sense of belonging.
The employees must identify themselves as proud members of the company and feels a connection to their organization.
MBA in International Business (IB)
International business is a branch that is rising in popularity with the rise of globalization and the opening up of the Indian economy.
Many organizations in the world are interested in expanding their operations in other countries. process outsourcing is another way where companies can reduce their overall expense by manufacturing in a country that has easier and cheaper access to natural resources and labor, like China.
They can also take advantage of the taxation laws of some countries. Outsourcing can greatly reduce the investment of a company and increase its profits. But to make this happen, they need efficient employees who are qualified in the matters of international business.
MBA in International Business educates students in the skills of international marketing, foreign laws, the economics of outsourcing, etc. This specialization is taught with a particular emphasis on the operations of multinational corporations.
The functions of an MBA in International Business are import and export management, foreign exchange management, international finance, international marketing, logistics, etc.
The professional needs to understand the necessary laws and documentation, complexities of consumer behavior in foreign markets, understanding the economies of production and shipping, and many more.
But an MBA in International Business would require you to travel to many different places on company money. You can learn and experience so much with travels.
You can meet different kinds of people and experience different lifestyles. All this while working. If you happen to work for a big company you may also get to meet important political leaders of the host country.
So if you can see yourself act as an ambassador of a multinational corporation and meet different people around the world, this might be the perfect MBA branch for you.
MBA in Operation Management
Operations are the core function of any business and this branch is for people who are specifically interested in a certain business.
Candidates who have an MBA in operations management are usually placed in manufacturing industries like automobile, food production, electronics, etc. and this is why this MBA branch is commonly chosen by engineering graduates who want to remain in their domain but want a managerial role.
For example, a mechanical engineer may do an MBA in operations management to be promoted to a managerial position inside an automobile company.
The positions that you can expect after graduating from this specialization are production manager or floor manager in a manufacturing plant.
This is a very important position as the person manages the core function of the company. They are responsible for maintaining a smooth process, managing workers and resources, develop interpersonal and inter-departmental relationships and process optimization.
Even though engineering graduates choose this MBA branch, this is no necessity and anyone with any Bachelor’s degree can opt for this branch if they are interested in operations of a particular business.
This job may not be as glamorous as marketing or finance but this is an important role and the operations manager is a big responsibility with the potential to reach the upper management.
MBA in Information Technology (IT)
Information is everywhere. For the first time in history, we have more information stored than we can process. Companies need professionals who can make sense of the data and they also need people who can manage those people.
MBA in IT will help you manage the ideation, designing, resource handling, implementation, maintenance and processing of the communication technologies.
Every company today has an IT department because most processes are now automated with software, even in the manufacturing industries.
MBA in IT is designed to educate & develop managers who can effectively manage the planning, design, selection, implementation, usage & administration of emerging and converging information & communications technologies.
IT graduates play an essential role in the business team, typically in designing and implementing hardware and software solutions to solve business problems. Graduates in any stream can pursue an MBA in IT.
You will be taught these subjects in MBA in IT: computer security, systems design, analysis, database management, management of information systems, data analysis, and more.
IT has a strategic role in the operation of a business. Most processes have been streamlined by IT but a team still needs to manage those processes.
If you are an engineering graduate in the field of IT, this MBA branch is perfect for your career growth.
IT is of special focus in the Indian market since India is an IT hub. India is a service-sector dominated economy. IT holds special importance and position in the economy.
MBA in Supply Chain Management
The supply chain is a crucial part of the distribution process of products. There are different types of supply chains. All of them, however, include the producer, regional distributor, wholesaler, retailer, and the customer.
It is the goal of the supply chain manager to manage inventory, warehousing, and the shipping of the goods as per the demand of the consumer.
The supply chain also needs to be made as efficient as possible. It is required to maintain great relations with distributors and wholesalers because they need the initiative to promote your product among several other similar products, especially when it is a generic product.
The candidate must have good knowledge of supply chain models, logistics, global supply chain management in case of sending or procuring products or materials overseas and dealing with challenges in distribution.
MBA in Rural Management
Rural management is the need of the hour for India. More than 70% of India lives in villages. The village is a huge potential market and an MBA in rural management teaches you how to tap that market. Economists have agreed on the potential for the village market in the making of the $5 trillion economies. Without the villages, we cannot achieve that level.
MBA in rural management can be opted for by any candidate who is interested in doing this program. They can expect jobs in the public sector rural development projects and Non-governmental organizations.
You can also join organizations like the United Nations and help make a change. This is a good opportunity to do philanthropic and altruistic work that matters while also earning a good package.
You can help with issues like poverty, malnutrition, corporate social responsibility, water management, and many more. There are a lot of options.
MBA in Agri-Business Management
Agriculture is a big business in India. And it feeds the Agri companies that make food products. One of the examples is fruit juices and beverages.
An MBA in Agri-business will have responsibilities like processing, marketing, merchandising, product ideation. The candidate must understand the principles of Agri marketing, finance, and logistics.
Agribusiness in India is growing rapidly. There are many industries that come under Agri-business like the Food industry, horticulture, livestock, farm engineering, Agri input, etc.
The MBA in agribusiness will teach you the details of distribution, cost evaluation, promotion, maintenance, and operations. There are no prerequisites for joining this course and you only need a bachelor’s degree.
MBA in Health Care Management
Healthcare management looks after the management side of the hospitals and the administration. After all, hospitals are also industry and they also require able managers to run the business side so the doctors don’t have to deal with it.
The MBA professional interacts with the hospital administration, insurance executives, and other managers. This is a great job if you are interested in the healthcare sector.
Healthcare management is also an important part of the medical sector. You can indirectly help the patients and their families.
Any candidate with any graduation course can choose this specialization. This is one of the less talked about specializations in the MBA degree.
Some industries you can join with an MBA in Healthcare management are Health insurance organizations, medical tourism, diagnostic centers, healthcare IT, healthcare market research, wellness centers, and organizations.
These were the most common and best MBA branches that most management colleges offer. The branch you choose must be chosen after a lot of consideration.
You should keep in mind many factors like the job market, packages, employment locations, and future prospects but you should also see where your interests lie.
You should not choose a branch just because it offers the best packages. This may make you chose a branch where you are not interested in and you may not want to continue working even after a lot of money.
Keep in consideration that your responsibilities will be according to the package the company is giving you. When they pay you a certain lac of rupees, it is because they think that the profit you do for the company will be more than your CTC.
You may choose a marketing job but later realize that you feel more fulfilled working for rural management because there is a deeper cause for your work.
This is why the branch you choose is important because it will decide your whole future. You cannot go back therefore your decision must have solid grounds.
Marketing and Finance are definitely the most sought after branches and offer the most jobs but the world needs more specialized MBAs.
There are many branches to choose from for an MBA. You can pick one that you are interested in. Picking early will be an advantage so you can build a specific CV for it.
If you are in a bachelor’s, it is great because you have sufficient time to build an appropriate CV with the help of different college activities. You can collect relevant experiences related to your branch of choice. For example, to show leadership skills, you can join a committee or a club and handle important work.
The competition today is huge and the number of candidates in CAT is growing every year in tens of thousands. Every year the benchmark of qualification for the best management colleges is rising.
The candidates are working harder and more prepared for the MBA selection process. The recruiters are also in need of more managers and the demand for skilled and talented business managers from the best MBA branches who can provide value to the company is increasing.
Though the MBA programs in the best colleges teach and educate a lot, a student has to have the inner motivation and desire to be the best. They must have a clear goal for their life and career.
They must have a roadmap on how they can create this world a better place.
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