MBA: Most Popular Specialisations

An MBA degree from a reputed institution has become synonymous with a plush job and an attractive pay package. Best known companies scramble to recruit MBA degree holders from top colleges which serves as a testament to the significance of MBA programme and the prestige it holds in the eyes of many multinational organisations. Following are some of the benefits of doing an MBA Programme:

1. Increased self-confidence

One study surveyed MBA graduates about their perceived financial and nonfinancial costs and benefits of their professional degree. Surprisingly, increased confidence was one of the highest-weighing and most important nonfinancial benefits of earning an MBA degree.

The feeling of accomplishment as well as the education and skill sets gained by earning this degree can improve students’ confidence as they make their way through the business world—and through life. By earning this degree besides balancing work, family, social life, and other personal commitments you will find an immense sense of reward and personal achievement.

2. Credibility

There are different ways you can establish credibility in your firm and in your industry. You could volunteer for a project at work that stretches you beyond your comfort zone and shows off your hidden talents to company management. You could begin a solo side business or co-found one with family or friends to establish early credibility as a budding entrepreneur. But the academic version of street credibility in the business world is the MBA degree.

3. Transferable Skills

Much of the knowledge and hard and soft skills you gain from earning your MBA is applicable across many industries. You become more skilled and versatile regardless of your industry or job title, thanks to widely applicable qualities like leadership, critical and analytical thinking, creativity, and communication. Unlike career-specific advanced degrees like a teaching credential or a medical degree, an MBA can transfer easily to many industries and offer you a wide array of careers throughout your life.

4. Curiosity

MBA graduates often possess an innate and insatiable curiosity. They know there is always something more to learn, and they endeavour to learn it. Earning the degree hones their ability to dig into competitive analyses, study emerging industries, and stay on top of all the newest developments, technologies, and trends in their industry. As Albert Einstein said, “The important thing is not to stop questioning. Curiosity has its own reason for existing.”

5. Strategic thinking

The strategic thinking skills you learn while earning your MBA are not only applicable to the business world but across various areas of your life such as your personal goals and finances. You’ll be able to think outside-the-box and weigh multiple options or solutions in your mind while you work to fix a problem.

6. Better Communication

MBA graduates often find themselves communicating better at work with colleagues, bosses, or employees. But
these communication skills can also be applied at home with your parents, or siblings, as well as in social situations such as networking events or company functions. Being a better communicator is essential in everyday life, no matter where or when you communicate your needs and ideas for solutions.

7. Self-discipline

To earn your MBA degree, you have to attend classes and study sessions, complete assignments on time, and push yourself to work through rigorous, complex coursework. Possibly, you have to do this while you continue to work. All of this takes a level of self-discipline that you may not take to naturally, but can cultivate with time and effort while working through the MBA programme.

8. Better Time Management

A side effect of better self-discipline is the ability to better manage time. That could mean better understanding of your capabilities for producing work in an allotted time so you don’t overextend yourself, burn yourself out, or overcommit and underdeliver. It could also mean being more efficient during work hours to get more done in less time or with less effort.

9. Broader Worldview

While earning your MBA, you address big business issues and real-world business challenges which hones your ability to look beyond your role and see how organisations operate as a whole. This also increases your exposure to diverse perspectives on global, social, and business issues as you collaborate with students whose backgrounds, experiences, and career goals differ from yours.

10. Network Of Colleagues

While earning your MBA, you come into contact with faculty and fellow students and alumni of the programme who begin to form or add to your existing network of colleagues. These include people both within your industry and outside of it, and are often spread out across the world, which can translate to promising opportunities in the future. 

11. More job opportunities

Many companies now require or prefer candidates with an MBA for a number of roles. Earning this degree significantly expands the number of potential job opportunities for which you qualify.

12. Differentiation as a job candidate

Even if an MBA isn’t a minimum requirement, the degree can be a powerful differentiator when you’re competing against dozens of candidates all vying for the same position—especially when they are all impressive in their own way. But as impressed as employers may be about managerial accomplishments in the field, the fact that you’ve earned an MBA degree is likely to take your application up a notch in the minds of potential employers.

13. A re-energised career

Sometimes you can get stuck in a rut career-wise. Earning an MBA degree can pull you out of a funk, re-energise past career goals, or help you uncover new ones as you work through the programme. Whether you’re trying to improve your job position and salary options, or enter the world of entrepreneurialism, this experience could be the motivation you need to jumpstart a new career.

14. Higher income

Many people undertake MBA programmes as the resultant financial benefits are generally high. Higher income and signing bonuses are definitely some of the most significant benefits of earning your MBA.

15. Better Management of personal finances

A sharpened financial acumen is another draw for many MBA applicants, as they can apply these skills to their own personal finances and investments in addition to any business pursuits. Through their coursework, students become better at assessing risk, understanding how inflation and interest rates work, and responding to economic changes and market fluctuations.

16. Increased creativity

The coursework for an MBA may seem based on facts and numbers, but the entire experience often ends up sharpening creative thinking and inspiring creative endeavours for MBA graduates. Thinking outside the box is just as important for business as it is for art or music. MBA programme serve several purposes. They either provide the students an in-depth knowledge about the field in which they were working or had graduated, or in many cases, the MBA degree offers a chance to the students to go for an altogether new career, completely different from their earlier educational background or work experience. The MBA is an extremely diverse programme and offers something to almost every individual with the various specialisations on offer. A specialisation in your chosen area has the potential to catapult your career in a way that would be unimaginable without the MBA degree. While many colleges and universities are coming up with new specialisations for their students, the traditional specialisations such as Marketing Management, Human Resource Management, Financial Management and Operations Management still remain some of the most popular streams amongst the students.

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