What MBA concentration is best for you?
Today's graduate students have a variety of options to choose from in a Master of Business Administration (MBA) program. In addition to receiving a traditional business education through the core MBA curriculum, students can opt to augment their advanced business degrees with concentrations in order to further qualify to work in specialized areas.
Specialization
Becoming specialized in a designated field is beneficial for many reasons. While an MBA degree is an asset for any business career, a concentration, which allows individuals the opportunity to become knowledgeable in a focused area of business, can provide additional value.
In some fields, possessing intrinsic familiarity in specific areas of business can give graduates a competitive edge in landing a dream job in a field of personal interest. A concentration can potentially expand career options and increase salary potential for graduates perceived as possessing expert knowledge in chosen fields.
Selecting a concentration
Pairing an advanced business degree with a specialized concentration is a good marriage, but with so many options to choose from, it can be difficult for some students to narrow down their focus and choose a concentration to partner with an MBA.
When selecting a concentration, students are wise to consider personal interests before making a commitment. Students are urged to remember that whatever area of expertise they choose, they'll be working in on a daily basis during the course of their career.
Most MBA programs offer relevant concentration options that can be easily applied in today's business environments. Employers in many industries value this level of expertise. Graduates can apply learned knowledge to real-world problems and are able to aptly deliver solutions.
Concentration options
An MBA degree can come with many options and today's business schools offer relevant courses that directly apply to filling desired business needs. Some MBA concentrations, such as marketing, accounting, management and human resources, are flexible in terms of where they can be applied in the workplace.
For instance, a marketing concentration is valuable for many fields, as for-profits, not-for-profits and even government agencies need to utilize the skills of marketing experts to present themselves to the public. Expertise in accounting can lead to positions in both the private and public sectors. Possessing strong, in-depth understanding of the financial aspects of business is attractive to many employers. Individuals well versed in management are able to aptly apply acquired knowledge to solving issues and providing analysis for an organization. All organizations need human resource managers and good candidates are those who have specially tailored their learning to managing this aspect of business.
As business becomes more highly integrated globally, tomorrow's leaders must have an acute understanding of the international business atmosphere. A global concentration helps students prepare to work in a highly diversified environment. Solid knowledge of global business can lead to work in native companies that conduct business internationally or for a foreign company.
Health care positions are expected to continue to grow significantly in the next several years. Individuals who select a health care management concentration can expect to find work in hospitals, laboratories, insurance, and for-profit or non-profit health agencies. Managing a health-related small business is another option; even many medical students are pursuing dual degrees to include an MBA in order to understand the business side of medicine.
Technology and information security are two fields in need of experts to fill positions. The U.S. Bureau of Labor Statistics forecasts IT/IS related positions to grow in all fields, indicating a variety of options for MBA graduates with technology concentrations. The BLS states, "A bachelor's degree in a computer-related field usually is required for management positions, although employers often prefer a graduate degree, especially an MBA with technology as a core component." Data is a primary asset for any organization, and generating, transmitting, storing and providing security for electronic information is a necessary component of modern organizations, leaving career options very fluid.
There are many advantageous reasons for adding a concentration to an MBA degree. Selecting a specialty can not only derive agreeable and lucrative career options, but also provide a strong sense of individual satisfaction, especially when a concentration of personal interest is chosen.
