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These days, pursuing an MBA degree is becoming more commonplace, which is leading many students to specialize an MBA degree. Essentially, many MBA programs are realizing the nature of their degrees is too broad. To combat this problem, schools are creating specializations with the MBA discipline, allowing students to gain a more structure, specific, and useful education at the graduate level. These specializations not only benefit students, but they also provide employers with employees that have specific background knowledge that is vital to help the company succeed and excel. Below are just a few options for students that would like to specialize in an MBA degree.
Where and Why the Change is Occurring
The MBA market is and has been dominated by a number of schools for years, which include big names like Harvard, Yale, and the University of Michigan. However, what most top tier schools have failed to do is create innovation among their programs, according to Learnvest. Their teaching methods have become stale and less applicable to the specific needs of the marketplace. Many B-Schools noticed this trend and decided to create programs geared toward students and marketplace needs, thus implementing specialized MBA programs. These specialty programs are not always the best option, but they are usually good fits for students that know what their specific career goals are and how their field will fare in the marketplace in the future.
Types of Specialized MBA Programs
The great thing about when you specialize in an MBA degree is that you have many options to choose from that allow you to meet your career needs. The types of specializations available at many schools that offer MBA programs are accounting, biotechnology, entrepreneurship, finance, human resources, information technology, international, logistics, management, marketing, operations, and supply chain management. These specializations are also usually available online, however due to the nature of the coursework and teamwork necessary, doing an on-site program is usually the best option.
Benefits of Specialization
Specializations in MBA programs do have their benefits. While students are not gaining an as broad education in business as a traditional MBA, they are enjoying other advantages. For example, students that specialize in MBA programs are able to study a field that is more geared toward their career goals, they make connections within their industries, there is more flexibility, and student with grades that aren’t as great tend to be able to gain some great opportunities.
Salary Expectations
While salaries clearly vary by school, program, ranking, and location, according to the University of Wisconsin, which has a very popular MBA specialization program, the average salary base for their graduates was $95,000. This included students that received a specialized MBA degree. The curriculum at most of these programs is innovated, detailed, and it allows students to receive an education in an area of interest but to still focus on many of the business aspects that are necessary for any MBA degree graduate. While not all employers see these degrees as beneficial when they seek simple MBA students, there are still many that see the benefit of students that specialize.
Related Resource: Specialize a Human Resources Degree
Summary
Overall, getting an MBA degree is an impressive feat no matter what one chooses. These degree options have great marketability, they lead to high salaries, and they allow students to study areas that completely interest them. With that, hopefully it has become clearer whether or not the decision to specialize an MBA degree is best for you.