What’s the Best MBA Specialization Out There?

A master’s in business administration (MBA) consistently ranks at the top of the most popular graduate degrees, and for good reason. An MBA provides students with a robust view and understanding of business by covering multiple topics like marketing, finance, strategy, operations management, and more. Beyond the range of learning that you take part in, graduates of MBA programs stand to earn a higher earning potential compared to those with a bachelor’s degree. 

 As an MBA graduate, you’ll open the door to many job opportunities, but before jumping back into the working world, let’s take a look at what’s considered to be the best MBA specialization. 

In this article, we’ll cover the top specializations in MBA programs and what you can expect to cover in MBA specialization courses. 

What is an MBA Specialization?

During your MBA program, or in advance of enrolling, you may discover that there are specific subjects that you’re more interested in. Specialized MBAs allow you to enhance your knowledge and understanding in the topic of your choice. 

Depending on the type of program you are in, the time you spend on your specialization courses will vary. For example, if you are in a two-year MBA program (which is typical), then you’re likely to spend the first year in general courses and the second year focused on the specialization. In a one-year MBA program, you’ll end up spending about 3-6 months on the specialization to culminate the program. 

Top Specialization in MBA

Equipped with an understanding of what an MBA specialization is, it’s now time to review some of the most popular specializations in MBA programs that are out there. 

1. Finance

A specialization in finance covers coursework about financial markets, portfolio management, foreign security markets, risk management, and more. An MBA in finance helps students to develop their financial management, time management, and governance skills, among others. 

2. Marketing

The world of marketing and its respective roles is constantly growing. That’s why an MBA specialization in marketing is sought after. This specialized educational track can prepare graduates to work as chief marketing officers (CMOs), brand marketing managers, brand officers, and more. 

3. Operational management

The MBA specialization in operational management may also be called operations. It focuses its teachings on how to operate businesses or specific departments and teams. With this designation, graduates can hold titles like Chief Operations Officer (COO). 

4. General Management

For a more wide-range specialization, general management proves to be incredibly versatile. It’s a great route to take if you are not entirely certain on your career path or are figuring out what size company you wish to work for. While it is a specialized degree, it prepares people to be a generalist in the workplace, which means that you’ll know a bit about everything, including decision-making, marketing, accounting, strategy, negotiation, and the like. 

5. Healthcare Management 

For any business-minded person with an interest in healthcare or the medical field, an MBA in healthcare management allows you to explore various realms like law, ethics, budgeting, leadership, and accounting through the lens of healthcare. Some subjects you can expect to cover include: HR, health economics, digital health transformation, and business strategy. Job opportunities with this specialization span multiple titles, such as: director of operations, account executive, director of nursing, or medical records director. 

6. Entrepreneurship

Have the desire to go out and start something yourself or envision yourself in a leadership position? An MBA in entrepreneurship can help you reach your goals. The program teaches strategies, innovative thinking,  management skills, and all you need to know to help organizations grow. 

7. Strategy

An MBA in strategy is transferable across industry sectors, which is what makes it a great specialization for anyone looking to expand their horizons. It’s especially useful for people who wish to work in human resources or marketing as the professions are constantly evolving. 

8. Human Resource Management

HR is the heart of an organization as HR professionals attract, recruit, and retain employees, who are the lifeblood of businesses. An MBA in human resource management focuses on analytics, consulting, employment law, and operational management, to name a few topics. The specialization is designed for those who know they want to work in HR as it is highly tailored to the field. 

9. Consulting 

An MBA alone will prepare you to work as a consultant, but with a specialization in consulting, you’ll further develop the skills you need to succeed. In this specialized MBA program, you can expect to hone your presentation and communication abilities, as well as understand how businesses work from the inside out. Many people with this specialization will continue to work for one of the Big Three consulting firms (i.e. McKinsey & Company, Boston Consulting Group, and Bain & Company), but you can also work for boutique firms or as a freelance consultant. 

Earning Your MBA Online

Before you choose the best MBA specialization, you’ll have to enroll in an MBA program. Did you know that you can earn your master’s in business administration entirely online? The University of the People provides a virtual program that is available to students all over the world, granted you have access to the Internet. 

Our tuition-free MBA program is made to be affordable and is also accredited, which means you can trust that the quality of the education that’s promised to you is what is delivered to you!

It’s All in the Name of Business 

MBA specialization courses exist so that you can follow your interests and be the most prepared to enter your dream job upon graduation. While it’s not required to choose an area of focus within your MBA program, it’s easy to see why choosing the best MBA specialization based on your individual preferences can provide you with deeper learning and a more tailored degree. This way, you’ll be equipped to enter your field of choice with the knowledge and skills you need to do your best.