7 Most In-Demand MBA Specializations in the Future

The MBA is a highly demanded course. Working professionals and recent graduates might think about getting an MBA for improved career prospects, skill development, promotion, and a stable position. There are over 30 MBA specializations offered in India and around the world, providing students with a variety of learning and employment options. It is crucial to choose an MBA specialization that is in demand, lucrative, and best suited to your background, interests, and long-term objectives.

Your financial success and career path can be greatly impacted by your choice of MBA specialization. It's important to keep up with the latest business trends and demands while deciding which MBA specialization is best for you.

The MBA market in India is anticipated to develop at a compound annual growth rate (CAGR) of 13.70% from 2022 to 2027, reaching INR 4.85 billion, etc.

What is the MBA Specialization?

A targeted area of study within an MBA program that enables you to acquire in-depth knowledge and abilities in a particular field is known as an MBA specialization.

Below are some examples of the 7 most in-demand MBA specializations in the future:

• Finance
• Marketing
• Economics
• Entrepreneurship
• Information Technology
• International Business
• Investment Management

So, in this article, we will discuss in detail these top MBA specializations, the reasons behind choosing them, and more. One by one, let us have a look at them:

• Finance

One of the most well-liked MBA specializations in India is an MBA in finance. The course teaches students how to handle money, investments, accounts, and other things. The majority of Indian MBA colleges and universities offer this specialization.

Why choose an MBA in Finance?

• Offers diverse career roles that open paths in financial analysis, investment banking, and risk management.
• The average salary in India ranges between INR 7 to 20 LPA, and abroad $115K.
• Financial expertise is required across banking, corporate, and consulting sectors.
• Covers Accounting, economics, investment, and risk management.

Course Duration : 2 Years

Core Subjects:

• Financial Institution and Financial Markets
• Cost & Management Accounting
• Investment Strategy & Portfolio Management
• Customer Relationship Management
• International Business

Top Colleges for MBA in Finance:

• BITS Pilani
• IIM Calcutta
• IMT Ghaziabad – Institute of Management Technology
• DY Patil University
• Chitkara University

Average Fee Range :  INR 1 Lakh to INR 27 LPA

Career Scope : 

• Financial Planner
• Financial Risk Manager
• Corporate Finance Manager
• Investment Banker
• Financial Analyst
• Credit Analyst
• Private Equity Analyst

Expected Salary : INR 0.2 LPA to INR 20 LPA

• Marketing

Students enrolled in this two-year MBA program receive training in consumer behavior, including how to understand the target audience's needs, wants, purchasing power, and more. One of the most sought-after MBA specializations in India is MBA in marketing.

Why choose an MBA in Marketing?

• An MBA in marketing provides broad career options in advertising, digital marketing, brand management, and sales roles.
• Demand for AI-powered digital marketing is powering up marketing experts.
• The competitive salary structure ranges between INR 6 to 18 LPA in India and is $100K abroad. 
• Enhances strategic thinking, creativity, and consumer insights.

Course Duration : 2 Years

Core Subjects : 

• Marketing Research
• Industrial Marketing
• Global Marketing
• Rural Marketing
• Retail Marketing
• Services Marketing
• Advertising & Sales Promotion
• Consumer Behaviour
• Customer Relationship Management
• Logistics and Supply Chain Management

Top Colleges for MBA in Marketing : 

• Lovely Professional University
• Manipal University
• Jain University
• Uttaranchal University
• Shoolini University

Average Fee Range : INR 12,000 to INR 12  LPA

Career Scope : 

• Marketing Specialist
• Marketing Associate
• Marketing Manager
• Brand Manager
• Product Marketing Manager
• Digital Marketing Manager

Salary Package : INR 3 LPA to INR 10 LPA

• Economics

Economic analysts, data interpreters, and professionals in global financial trends are almost essential in various sectors. An MBA in Economics equips them with advanced knowledge regarding market behavior, fiscal policies, and economic development, thereby enhancing the opportunities for clients within such roles as Economic Analyst, Policy Advisor, Management Consultant, and more, among others, with professional expertise.

Why Choose an MBA in Economics?

• Involve work with government departments and agencies, international organizations, and consulting firms.
• According to the Bureau of Labor Statistics (BLS), economist jobs are expected to grow by 13% from 2022 to 2032.
• The scale for India ranges from INR 7 LPA to INR 20 LPA, while the international salary averages about $115000.

Course Duration : 2 Years

Core Subjects :

• Managerial Economics
• Macroeconomics
• Financial Accounting
• Data Analysis and Statistics
• Econometrics

Top Colleges for MBA in Economics : 

• Indian Institute of Management (IIM) Bangalore
• Indian Institute of Management (IIM) Ahmedabad
• Indian Institute of Management (IIM) Lucknow
• Goa Institute of Management
• Faculty of Management Studies (FMS), University of Delhi

Total Fees : 

• INR 20,000 to INR 2 LPA (For government colleges)
• INR 2 LPA to INR 20 LPA (For private colleges)

Career Scope : 

• Economic Consultant
• Management Consultant
• Financial Analyst
• Market Research Analyst
• Policy Analyst

Salary Package : INR 7 LPA to INR 20 LPA

• Entrepreneurship

Being an MBA in Entrepreneurship allows people to not just innovate and manage startups, but also help in the business transformation process. It creates an entrepreneurial mindset with skills such as strategic thinking, risk management, and business planning for students, thus enabling them to succeed in a world that is constantly changing in terms of evolving startup ecosystems.

Why Choose an MBA in Entrepreneurship?

• Ideal for potential business owners or intrapreneurs working in established companies.
• The demand for entrepreneurial skills has been growing globally based on startup culture.
• Salary packages for Product Managers, Business Developers, or Venture Capitalists can vary from INR 6 LPA to INR 25 LPA.

Course Duration : 2 Years

Core Subjects :

• Marketing for Entrepreneurs
• Entrepreneurial Finance
• Business Plan Development
• Innovation Management
• New Venture Creation

Top Colleges for MBA in Information Technology : 

• Xavier Institute of Management and Entrepreneurship (XIME), Bangalore
• Indian School of Business (ISB), Hyderabad
• Symbiosis Institute of Business Management (SIBM), Pune
• Narsee Monjee Institute of Management Studies (NMIMS), Mumbai
• SP Jain Institute of Management and Research (SPJIMR), Mumbai

Total Fees : INR 2 LPA to INR 20 LPA

Career Scope : 

• Startup Founder
• Product Manager
• Innovation Manager
• Business Consultant
• Venture Capitalist

Salary Package : INR 6 LPA to INR 25 LPA

• Information Technology

An MBA in information technology is one of the best specializations for professionals interested in company management and developing technologies. To help professionals integrate business strategies with contemporary ideas of information security and project management, the curriculum is designed to integrate learning about business and information systems.

Why choose an MBA in Information Technology?

• Modern-age MBA program.
• The demand for an MBA in information technology is increasing annually by 13%.
• IT graduates with an MBA earn between 4 and 30 LPA.

Course Duration : 2 Years

Core Subjects : 

• Information Security
• Project Management
• Business Intelligence Tools
• Emerging Technologies in Finance
• Enterprise resource Planning

Top Colleges for MBA in Information Technology :

• JAIN University
• Institute of Management Technology, Ghaziabad
• IIM, Kashipur
• NIT, Tirchi
• Great Lakes Institute of Management, Chennai

Total Fees : INR 47, 000  to INR 20 Lakh

Career Scope : 

• IT Director
• Chief Technology Officer
• IT Manager
• Program Manager (IT)
• Computer & Information System Manager

Salary Package : INR 4 LPA to INR 30 LPA

• International Business

Multinational companies frequently need professionals with extensive knowledge of global business management. Gaining the knowledge required to understand cultural differences, the global economy, and corporate demands is made easier with an MBA in international business management. Professionals with an MBA in business management are eligible for high-paying positions in famous companies.

Why choose an MBA in International Business?

• the chance to settle abroad and work for multinational companies.
• The Bureau of Labour Statistics (BLS) reports that there is an annual 9% growth in demand for graduates in international business.
• Lucrative packages ranging from INR 5.5 LPA to INR 29.5 LPA are given to the professionals.

Course Duration : 2 Years

Core Subjects : 

• International Business Management
• Business Leadership
• Legal Aspects of Business
• Strategic Management and Business Policy
• Research Methodology

Top Colleges for MBA in International Business Management : 

• Amity University
• BITS Pilani
• Manipal Academy of Higher Education
• SP Jain University
• Indian Institute of Foreign Trade

Total Fees : INR 50, 000 to INR 20 Lakh

Career Scope : 

• Import Manager
• Export Manager
• Global Operations Manager
• Global Supply Chain Manager
• International Trade Manager
• International Logistics Manager
• International Relations Specialist

Salary Package : INR 5.5 LPA to INR 29.5 LPA

• Investment Management

Investment strategies, portfolio management, and financial analysis are essential to the finance industry. An MBA in Investment Management provides expertise in asset valuation, market trends, and risk analysis, to provide students a competitive advantage in positions such as investment analyst and portfolio manager.

Why Choose an MBA in Investment Management?

• To work closely with leading investment firms, hedge funds, or financial institutions.
• The investment management industry is consistently growing with a good demand for financial planners.
• In India, lucrative packages range from INR 10 LPA to INR 30 LPA, while packages for international roles can go up to more than $120,000 annually.

Course Duration : 2 Years

Core Subjects : 

• Investment Analysis
• Risk Management
• Portfolio Management
• Corporate Finance
• Financial Markets and Instruments

Top Colleges for MBA in Investment Management :

• Jain University (Online), Bangalore
• ICFAI Business School (IBS), Hyderabad
• Pimpri Chinchwad University, Pune
• SAGE University, Bhopal
• JECRC University, Jaipur

Total Fees : INR 5 LPA to INR 50 LPA

Career Scope : 

• Investment Banker
• Financial Analyst
• Risk Analyst
• Asset Manager
• Portfolio Manager

Salary Package : INR 10 LPA to INR 30 LPA

Conclusion

Choosing the right MBA specialization is a crucial decision, as it