Once you have chosen to pursue an MBA, your next step is to choose a specialization. You can choose from just about anything that fuels your passions for the business world. Here are some options:
1. Management
The most popular MBA specialization is management. As a business administrator, it stands to reason that you will be managing people and projects, so the management specialization makes perfect sense. Many people who enter MBA programs have no idea what they will do with their MBA once they receive it, and that’s perfectly OK. If you are undecided about your career path, yet want to pursue an MBA, the management specialization is probably right for you.
Some colleges offer specializations within the general MBA management track, such as international or global management studies. If you see yourself as a globetrotting executive, look for MBA’s that focus on international studies. MBA requirements vary from country to country, so be sure to check for MBA requirements in Canada, as well as the United States.
2. Finance
If your undergraduate degree is in accounting, Finance is the natural MBA specialization track for you. You will strengthen your finance skills and learn to manage larger financial decisions than you studied in your undergraduate degree. Bigger corporations mean more data points, so expect to spend a significant amount of time studying data analysis in this degree track. The finance specialization is best suited for those who want to work for banks or control finances in a big corporation.
3. Entrepreneurship
Starting your own business may seem like a dream come true. If it does, the Entrepreneurship MBA specialization may be just what you need. You will learn what it takes to fund a startup and make the right decisions to run your own enterprise. Who knows—you could be the next shark!
4. Marketing
With the rise of social media, the way businesses market themselves is forever changing. If analyzing market data to find the right marketing campaigns sounds thrilling, the MBA specialization in Marketing may be exactly the right course of study for you.
Marketing specializations focus on sales, promotions, and customer communications, and you can use the specialization in pretty much any sort of business after you graduate.
5. Technology
One of the fastest growing MBA specializations is IT or Technology. Corporations employ huge teams of IT professionals and rely on tech gurus to create custom products and keep the company’s software and hardware systems running. If your undergraduate degree is in computer science, IT, or some form of coding, the MBA technology specialization may feel like a natural fit for you.
New MBA specializations are created all the time, so if you don’t find one that fits your needs now, chances are you will in the near future. Consulting is a rapidly growing field, too. Since most all major universities have an MBA program, be sure to research your options carefully.
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