MBA Specialization Part-2 : Preparation tips
Every MBA aspirant preparing for CAT would love to take a peek at the road ahead. There are two major reasons for doing an MBA. Firstly to switch careers i.e. IT to marketing etc.. Secondly to skip a few levels in the corporate pyramid. Specialization in MBA serve as the solution to the first problem as they open up a wide set of opportunities in that particular sector or across sectors.
In our previous blog, We have discussed the various set of opportunities presented by each sectors.
link here: https://bit.ly/3NzkU5k
This blog aims to cover the prominent sectors you can get into post-MBA and the prerequisites or skillsets that firms in different sectors expect.
The popular sectors are:
- Finance
- Consulting
- Sales & Marketing
- General Management
- Product Management
- Analytics
- Operations
Finance:
It is the most exclusive and the most demanding domain among the sectors. That’s one reason why they expect candidates with prior experience and knowledge in the field. It is more desirable for the firms to go after a CA or CFA certification candidate. Also, candidates with prior experience in the financial sector have a slight edge since they can hit the ground running right away. If you are keen on having your specialization in MBA from finance, having a good score in finance based subjects and an excellent CGPA goes a long way.
Tip: If you are keen to get into finance, Completing at least one level of CFA will improve your chances significantly
Consulting:
Consulting is one of the most illustrious sector to start, Because of the career trajectory and exit opportunities it offers. It is one of the most sought-after jobs. Rightly so, the companies look to hire candidates with a diverse set of talent with a strong track record. Usually, candidates from prestigious institutions in their undergrad like IITs and NITs or university rank holders are preferred. The focus on academic excellence is relatively high with consulting and hence a good CGPA from your MBA should be an excellent start to getting a shortlist. Also, many firms organize case competitions to identify talented candidates before placement season. So a national winner or a runner-up could also be a precious point.
Tip: A good CGPA in your MBA is a fast track ticket to consulting shortlists.
General Management:
General management roles offered generally look to groom candidates for leadership positions. Most firms hire candidates as management trainees. The extensive training program ensures the candidates are exposed to the different sectors within the group. Naturally, these firms expect candidates to show some leadership qualities in their profile, and a higher weightage is placed on the Position of responsibilities held by the candidate during their MBA and before that as well. Taking part in clubs and committees, conducting events etc., are a few things that can improve your profile from a general management perspective beside academic scores.
Tip: Take part in club, committees and organize events before and during MBA. focus on events where you can exhibit team building and leadership skills.
Product Management:
Product management roles are more about understanding the product life cycle and liaising with different stakeholders to achieve the goals. Since you’ll be working with both developers and marketeers, Having a sound knowledge of both domains goes a long way. Currently most hires for product management roles are from the technological side. It helps to have a coding or an IT background. But this is not a prerequisite. You can join tech clubs and take up courses related to product management to shape your profile. Participating in product management-based case competitions and reaching further levels in competition are brownie points to build your profile.
Tip: Before joining MBA, try completing some product development related courses. Follow websites like The Ken, TechCrunch etc. to stay updated on the latest news in technology. If you are from a non-tech background, try getting an internship on some tech-based companies.
Sales & Marketing:
Sales & Marketing is one of the most exciting sectors as it is always in silos with the current market trend. The roles welcome a lot of creativity and rejuvenating ideas. The firms expect the new hires to understand the culture and ethos of the organization and bring in new ideas that align with them. Therefore they usually prefer freshers or students with less work experience. Although relevant work experience and staying updated with the latest marketing tools could be an additional bonus. Besides excelling in relevant courses, Case competitions helps strengthen your profile for sales and marketing roles.
Tip: You can complete the digital marketing course offered by google, This is a starter course. You can also complete few certifications and try getting some internships if possible.
Operations:
Operations is more similar to general management. the common expectations include working with planning and execution of product manufacturing, inventory and logistics. It involves working on forecasting, inventory management, production scheduling, and maintenance. Having prior industrial experience works, but it’s not a deal-breaker. A few projects and participation in case competitions should help you prepare for the operations role with suitable courses.
Tip: You can try and complete one or two levels your six sigma certification before joining MBA
Analytics:
Analytics requires a strong background in math and coding. While it is true that Analytics is all about data modelling and working on statistical analysis. That level of depth is not demanded from a MBA graduate. You are expected to understand the concept and the devise use cases for the algorithms to be deployed. Again there are a set of courses offered by B-schools that have an analytics base. Analytics is blooming, and every firm is looking to expand its reach. And there are a ton of opportunities that analytics offer currently. So an MBA specialization in analytics is a good avenue to explore. And to prepare yourself to be in analytics I strongly recommend you get your basics in statistics right and probably a bit of python or R would come in handy.
Tip: Cover your basics in statistics as they are the base of analytics. You can try out some basic courses in analytics from Coursera, Edx etc. to have a head start.
These are certain things that can help you reshape your profile and give you an idea on your MBA expectations. Matching these criteria would help you chase your preferred sector. But there is no guarantee that this alone is enough. This blog gives you an idea about different sectors and what the general expectations are. Thus helping you understand what to expect and how to prepare. My personal suggestion would be to not make any decision prior to joining MBA. Explore all options in the first year of your MBA before deciding on your area of specialization.
The opportunities offered by different sectors are covered in the previous blog.
link here: https://bit.ly/3NzkU5k
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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