Clear all your doubts regarding MBA, specializations in MBA & job prospects through this article. It includes all the FAQs related to the sphere of MBA.
What are the specializations one can opt for in MBA?
â€˘ Human Resources
What is Marketing Management?
â€˘ The discipline that is the most famous amongst Management Graduates
â€˘ People with good communication skills, leadership qualities and who are raring to go places generally find it extremely interesting.
â€˘ The career in Marketing has the maximum to offer in terms of responsibility, challenge, innovation and growth.
â€˘ The Designations could be Product Manager, Brand Manager, Market Research Analyst, Area Manager and Marketing Manager leading to Head-Marketing/Sales, Chief Marketing Officer (CMO)
â€˘ The kind of Companies are Fast Moving Consumer Goods, Consumer Durables, Non-Durables, Advertising, Market Research, Media, and Services Marketing.
What is Finance Management?
â€˘ This is a career for people generally interested in quantitative skills and who would like to do a lot of planning, managing of resources and policy formation. â€śNumber Crunchingâ€ť is how most people would describe a career in finance.
â€˘ How best to manage money and its consequences is what Finance is all about.
â€˘ The designations could be that of Finance Manager, or Financial Analyst and the career path could lead all the way to Chief Financial Officer (CFO).
â€˘ The firms recruiting Finance MBAs are Banks, Consulting Companies, Financial Institutions, Investment Bankers, and Stock Brokerage Houses.
What is HR Management?
â€˘ People are the most valuable asset of a company. MBAs in this field generally specialize in Compensation, where they decide on the packages to be given to employees if they have a knack for number crunching
â€˘ Or in Personnel where they are in charge of Recruitment and Selection, Job Analysis, Performance Appraisals and the Grievance Redressal Cells. They may also be in charge of Employee training and development.
â€˘ The roles could be a HR Manager, a Personnel Manager or an Industrial Relations Manager
â€˘ The companies that take HR managers could be from any sector.
What is IT/Systems Management?
â€˘ The last few years have seen the emergence of Information Technology (IT) /Management Information Systems (MIS) as a major function of any industry, from being just a departmental function earlier.
â€˘ For people specializing in MIS, the career path is skewed in favor of engineers and technical graduates.
â€˘ One can join as System Analyst, and then go on to Technical Systems Manager and ultimately on to Chief Information Officer (CIO). Business Development Manager and Technical Consultant are also roles one could start with.
â€˘ Generally, IT Companies recruit MBA-Systems.
What is Operations Management?
â€˘ Generally people with very specific inclination towards Production / Shop-floor Management go in for this.
â€˘ An operations person basically deals in the various internal and external movements and flows within an organization that affect its efficiency. These flows could be processes, relationships, vendor development, ancillary management etc
â€˘ An MBA might start off as a Manufacturing Manager, Product Supervisor and go on to Technical Product Manager of the division. Further Career growth may include General Manager of a division and finally up to Chief Technology Officer (CTO) of a company.
â€˘ Engineering, Manufacturing and IT Companies look for such managers.
What is Entrepreneurship Management?
â€˘ Entrepreneurship is chosen by two kinds of people. One, who have family-managed businesses to handle or take over immediately after passing out from the institute, and the other kind who have ideas they want to implement in a new business after passing.
â€˘ The second kind is now very much in vogue, especially with the mushrooming e-commerce culture where every idea has a possibility of fruition in a flourishing business. These ventures are typically characterized by a large amount of risk, but with equally high returns if they succeed.
â€˘ To young Managers either in profession or aspiring for one, Entrepreneurship remains a challenging and exciting career option.
What are the salaries of MBAs?
â€˘ Companies visiting Top B-School campuses offer Indian salaries ranging from 4 lakhs to 12 lakhs (Cost to Company) depending upon company and profile offered
â€˘ Foreign placement salaries ranging from US $ 50,000 to US $ 1, 50,000.
Which companies are employing MBAs?
â€˘ MBAs are recruited by almost every company and sector
A List of Sectors:
Fast Moving Consumer Goods (FMCG)
Banking & Financial Institutions
IT â€“ Software and Technology