MBA Specialization Part-1: Opportunities Ahead
Every Aspirant preparing for CAT chooses to do an MBA for two major reasons. Firstly, people decide to do MBA to make a career switch. If you were someone looking to move away from tech or core mechanical MBA might be a good path to go with. Secondly, an MBA in your field of specialization can help in advancing on the corporate ladder
Almost all flagship MBA programs in Top tier B-Schools in India offer flexibility in picking specialization. And most importantly, the first year in your MBA program helps you get an idea about the various fields available by giving you a range of courses covering almost all fields like Finance, Strategy, Marketing, Technology, Operations, OB-HRM etc.
This blog aims to cover the prominent domains and the opportunities they bring. Since each sector/ domain is unique, They require a different set of skills and preparation.
Follow part-2 of this blog to know more on the building your sector specific profile.
Link : https://online.2iim.com/cat-exam/blogs/
The significant domains are:
- Finance
- Consulting
- Sales & Marketing
- General Management
- Product Management
- Analytics
- Operations
Finance:
Finance is one of the most influential sectors globally, and it is no different in B-school placements. The crème de crème of domains commands some of the highest-paying jobs. It offers a marquee of roles in investment banking, commercial banking, corporate finance, venture capital and private equity from Indian and International banking and financial institutions like Goldman Sachs. Citi Bank, Avendus Capital etc. You might need to focus on certain areas of finance like Banking, Financial modelling, Investments valuations. etc.
Consulting:
While Consulting is not a specialization, it is one of the most sought roles post MBA; Candidates are more drawn towards companies like McKinsey, Boston Consulting Group, Bain & Company etc. are some of the dream companies to land for most candidates. Candidates most prefer consulting because it offers them better exit opportunities into all other domains. You are expected to be a jack of all trades. As consulting has no one specific focus are and you need to have a fair understanding of all domains.
Sales & Marketing:
It is the most exciting domain. And the reason It is exciting is because it sticks to the current trends of the world. Almost all companies ranging from Automobile to FMCG to digital products are looking to get good candidates as the market and the product keeps evolving to match consumers’ tastes. So is the need to be on the current trend. People usually work on sales, pre-sales, Digital market, product marketing strategy, etc.. As we move into a more digital world, The marketing field is opening up with a new set of exciting opportunities. digital marketing is currently on the high rise. And most companies are looking for smart young visionaries to create a refreshing new brand image. This is an exiting time for marketers.
General Management:
General Management is about being the jack of all trades. You are required to work in various fields like operations, human resources management, marketing etc. Mostly conglomerates like Tata group, Aditya Birla Group, JSW, Mahindra and Mahindra etc. hire MBA Graduates as management trainees. As you need to oversee all verticals in the future. You will work across fields during the management trainee phase. As you find your sector of interest you also hone your leadership skills.
Product Management:
To put in simple terms, Product managers act a bridge between customers and developers. As they oversee everything from product development to sales of the product. They are like a mini CEO for the product. Since the rise of digital products, and the digital wave around the world. Companies all around the world are looking to hire smart and capable product managers. While companies like Microsoft and Amazon have program managers which are the same as product managers. There is no specific area of focus to be a product manager. Though a background in technology helps a bit.
Operations:
Operations deal with end to end working of the value chain and is of great significance. Since most companies post the pandemics are working on re-organising their supply chain, moving towards a more digital and robust system. You can expect to see some significant changes. Almost all firms are investing into redefining their operations. While most of the job offers are from companies that are working with physical products. This doesn’t limit the scope of opportunities. The rise in E-commerce industry has opened up tons of opportunities in the field of operations.
Analytics:
Analytics is a budding field in the twenty-first century. With so much data available, companies are looking to identify them and utilize them to target customers through Targeted Ads and other marketing tools. Since many companies are looking for MBA grads who are good with analytics to oversee and devise strategies to utilize the abundant data available. Analytics sure is a venue with tons of opportunities waiting to be explored.
Each sector has its own set of opportunities, Getting yourself ready to grab them might take a bit more. Check out part-2 to know more about each sector and the skill set and profiles they look for.
Now that we have discussed in detail about the different specialization opportunities available, let us delve deep into the more crucial part of, How do I prepare myself for one or more of these roles.
Follow part-2 of this blog to know more on the building your sector specific profile.
Link : https://online.2iim.com/cat-exam/blogs/
ALL the best for your CAT prep and your MBA journey ahead. – Harish V
Harish is an alum of IIM Bangalore who can’t stop talking about Chelsea FC
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