Best MBA specialisations in the world

Best MBA specialisations in the world

Best MBA specialisations in the world - 
A Masters in Business Administration is perhaps one of the most sought after programmes for fresh graduates who wish to enter the corporate world as well as for mid-level professionals hoping to climb the corporate ladder. “A graduate management degree is an outstanding investment in the personal, professional and financial aspirations of students," says Bob Alig, GMAC- Graduate Management Admission Council’s- executive vice president for school products. A Bloomberg data reveals that fresh MBA graduates who switch careers can get an increase of as much as $55,000 over their pre- MBA salary. In fact, an FT report states that young 24-year olds can get a massive 145% increase over their previous salary post pursuing an MBA degree.

 

However, deciding to pursue an MBA is only one part of the whole MBA deal. One of the most important questions here is what MBA specialization should you take? Two things that aspirants should always factor in while making the decision is their passion and their experience in that field as these are the elements which will not only help them secure a seat at the best institution but also help them to crack an opportunity at their dream organization. So before researching for universities and applying, it is in your best interest to know about the most sought after MBA specialisations in the world as well as the best institutions offering the MBA specialization.

 

To make things easier for you, we bring a list of the best MBA specialisations in the world along with the best MBA universities and the average GMAT score required for admission to these business schools.

 

Here are the Best MBA specialisations in the world:

 

Finance:

If your dream is to be among the who’s who of Wall Street, an MBA in finance is definitely one of the stairs you need to climb on. One of the most popular specialisations within the MBA, Finance is inclusive of the all the core components of management studies i.e., investments, capital markets, corporate finance and accounting.One of the best points about pursuing an MBA in finance is that it opens job opportunities in almost every field, including banking, markets, real estate, hospitality and so on.

 

Some of the popular positions that one can explore through an MBA in finance are:

  1. Financial analyst

  2. Investment banker

  3. Finance manager

Top universities with average GMAT score

University

Country

GMAT

The Wharton School, University of Pennsylvania

US

725

London Business School

UK

698

Chicago Booth School of Business

US

715

Harvard Business School

US

730

NYU Stern School of Business

US

720

Columbia Business School

US

670

INSEAD 

Singapore

704

IE Business School

Spain

680

Stanford University

US

729

Northwestern University

US

708

Entrepreneurship:

“Entrepreneurship is targeted at those who are really interested in start-up firms and expanding them internationally. It teaches you what kind of strategies work or do not work in the international business setting,” says Dr. Jagannadha Pawan Tamvada, Associate Professor at the University of Southampton. With more people coming out with out of the box business ideas, demand for an MBA in Entrepreneurship has grown exponentially. According to a GMAC survey of over 21,000 business schools worldwide, 1 in 10 business schools alumni are self-employed. In fact, the longer the students have been out of business schools, the more likely they are of taking up some kind of entrepreneurial activity.

 

Top universities with average GMAT score

University

Country

GMAT

Harvard Business School

US

730

Stanford University

US

729

The Wharton School, University of Pennsylvania

US

725

IE Business School

Spain

680

INSEAD 

Singapore

704

MIT Sloan School of Management

US

710

London Business School

UK

698

Babson College, F.W. Olin Graduate School of Business

US

630

Columbia Business School

US

670

Northwestern University

US

708

Marketing:

If you can eat, sleep and breathe through your words, then marketing is definitely the best specialization for you. Marketing has emerged as one of the most sought after MBA specialisations in the world, thanks to its applicability in every form of business from door-to-door sales to the digital platform. This is so because the role of a marketing manager is similar in every position i.e., to seek opportunities to market the products of the organization and increase profitability of the business.

  1. Marketing Manager

  2. Sales Manager

  3. Product manager

  4. Brand manager

  5. Research analyst

Top universities with average GMAT score

University

Country

GMAT

Northwestern University

US

708

Harvard Business School

US

730

The Wharton School, University of Pennsylvania

US

725

INSEAD 

Singapore

704

IE Business School

Spain

680

Stanford University

US

729

London Business School

UK

698

Columbia Business School

US

670

UCLA Anderson School of Management

US

704

University of Cambridge

UK

680

Information Systems:

With corporates heading toward a complete digital platform, the demand for IT professionals has increased, especially, at the managerial level. An information systems manager may be involved in design managements, hosting companies, consulting services and a host of other technology driven tasks. Basically, an MBA in Information System combines the technical knowledge of information Technology professional with that of Management theories.

 

Some of the popular positions that one can explore through an MBA in Information System are:

  1. Systems software manager

  2. Chief Information manager

  3. Data Processing Manager

  4. IT Architect

Top universities with average GMAT score

University

Country

GMAT

MIT Sloan School of Management

US

710

Harvard Business School

US

730

Stanford University

US

729

IE Business School

Spain

680

INSEAD 

Singapore

704

London Business School

UK

698

The Wharton School, University of Pennsylvania

US

725

Northwestern University

US

708

Columbia Business School

US

670

UCB Haas School of Business

US

715

International management:

An MBA in International Management is a relatively new entrant among the MBA specialisations. However, despite being in the nascent stage, this specialization is increasingly becoming popular among young MBA aspirants who want to explore and be part of the global management scene. Global managers are actually quick drawers among multinational companies who want their managers to be able to handle operations at any of their offices across the world.

 

Some of the popular positions that one can explore through an MBA in international management are:

  1. International management consultant 

  2. Import or export agents

  3. Investment advisors

  4. International trade and customs manager.

Top universities with average GMAT score

University

Country

GMAT

INSEAD 

Singapore

704

Harvard Business School

US

730

The Wharton School, University of Pennsylvania

US

725

London Business School

UK

698

IE Business School

Spain

680

Thunderbird School of Global Management

US

618

Stanford University

US

729

University of Southern California

US

700

University of Cambridge

UK

680

Chicago Booth School of Business

US

715

Operations management:

An operations manager is responsible for all the aspects of operations right from manufacturing to supply. He also supervises over the supply chain management of the company. With multinational companies focusing on building distribution chains at countries across the world, operations management has emerged as a necessary division. Interestingly, Operations Management does not just involve handling the factory aspects of a business. If you want to run a fast food or retail chain, then an MBA in Operations Management is definitely the best option for you.

 

Some of the popular positions that one can explore through an MBA in Operations Management are:

  1. Supply chain manager

  2. Operations Manager

  3. Logistics manager

  4. Operations consultant

Top universities with average GMAT score

University

Country

GMAT

Harvard Business School

US

730

MIT Sloan School of Management

US

710

INSEAD 

Singapore

704

The Wharton School, University of Pennsylvania

US

725

IE Business School

Spain

680

Stanford University

US

729

London Business School

UK

698

IMD

Switzerland

670

IESE Business School - University of Navarra

Spain

672

Chicago Booth School of Business

US

715

Corporate Social Responsibility:

An MBA in Corporate Social Responsibility is one of the emerging MBA specialisations that aspirants are opting for in the light of the slowly changing business strategies. With firms investing heavily on social responsibilities, especially to uplift communities as well as build their brand name, CSR managers are attracting quite the attention. Such is the draw that most of the top rated business schools have added this field as a special MBA specialization.

Some of the popular positions that one can explore through an MBA in Corporate Social Responsibility are:

  1. Program manager

  2. CSR manager

University

Country

GMAT

Harvard Business School

US

730

Stanford University

US

729

INSEAD 

Singapore

704

IE Business School

Spain

680

The Wharton School, University of Pennsylvania

US

725

London Business School

UK

698

Ross School of Business, University of Michigan

US

703

George Washington University

US

635

Michael G. Foster School of Business, University of Washington

US

670

Columbia Business School

US

670

Source: QS and Universities

First Published On : 02 Sep 2015 05:56 PM IST
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