College students often assume that all MBA types are the same, but before you apply to business school, you need to look at the best MBA specializations.
These specializations include those that are most in demand and those that will help you better plan and prepare for the future. Business schools now offer different programs that let you earn a degree as you take classes every day, attend night and weekend sessions or take all classes online.
No matter which type of program you enroll in, you must know which specializations or concentrations are the best.
Entrepreneurship
There is a big difference between working for yourself and working for someone else. When you work for someone else, you handle just one aspect of running that business and work with those in other departments to keep the company running efficiently. When you run your own business, especially during the early years, you’re responsible for all those aspects yourself. Entrepreneurship is the best concentration for those who want to operate their own companies. You’ll learn directly from former and current business owners, discover how to secure funding and learn which mistakes you should avoid.
Leadership
One of the best MBA specializations in today’s world is one in leadership. When you look at the top companies in the world, you might notice that the owners of those companies depend on others for the daily operations of those companies. Donald Trump and Bill Gates let their employees run and operate their corporations. A concentration in leadership helps you develop the strong and essential skills that will make others follow you and inspire those workers. MBA leadership programs often include classes on human resources, economics and marketing but have an emphasis on leadership methods and techniques.
Marketing
A bachelor’s degree in business or marketing might help you get an entry level job working for an advertising firm, but if you want to become a team leader or supervisor, you need an advanced degree in marketing. Marketing experts have knowledge of various advertising techniques and concepts, including how to best make use of focus groups, how to identify the needs of clients and advertising products both online and through more traditional means. Many of the top MBA marketing programs even let students do fieldwork or internships with advertising firms. This gives you an inside look at the advertising world and develop working relationships with those in the industry.
Strategic Management
According to Forbes, strategic management ranks at number five on the top 10 list of best master degree programs. Forbes ranked this field of study highly because it has a lower stress index when compared to other professions and has a higher rate of growth too. Forbes estimates that those working in this field will increase their pay rates by 70% between the time they start in the field and the time they reach the middle of their careers. Strategic management programs focus on developing good strategies for companies, clients and all employees working for that company.
While you can earn a general MBA that offers a broader view of the business industry as a whole, employers today want new workers who specialized their degrees. The best MBA specializations for students enrolling in business schools today include marketing, leadership, entrepreneurship and strategic management.
See also: What is the GRE and What Type of School Requires It For Admission?
