MBA aspirants are often confused with the question ‘Which MBA program is right for me?’ Are you one of them? If yes, then you have landed on the right page.
To find the right MBA program, you must take into consideration numerous factors such as curriculum, intensity of the program and tuition fees, just to name a few. In this blog, you will get to know the top 10 MBA streams in the world and how you can choose a stream that best suits your dreams and personality.
If you need more information about choosing the right MBA stream make sure to connect with Yocket experts. Yocket has unlocked $15M+ in scholarships & empowered 5000+ stream-switchers. Ready for the right MBA program abroad? Let's make it happen! Our clear plan will show you exactly how to choose a stream that is perfect for you.
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Why is Choosing the Right MBA Program Important?
An MBA abroad requires a considerate amount of time, effort and finances. So, choosing the right MBA program is of utmost importance to ensure its utility in your career goals and professional development.
There are different types of MBA abroad that target different sets of students. Based on your educational qualification, years of professional experience and convenience, the popular MBA programs abroad are mentioned below:
- Full-time MBA: It is for the students who are willing to leave their job and dedicate their full time to the weekday classes and studying.
- Part-time MBA: It is for those who wish to enhance their career by acquiring managerial skills while still being employed.
- Executive MBA: It is designed for experienced and working executives, managers, entrepreneurs, and other business leaders.
- Global MBA: It aims at providing international business experience to its students. The classes are conducted in different classroom environments, at times different countries and cultures too.
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Now that we have covered the different types of MBA and the importance of choosing the right MBA program, let us see how to pick an MBA program.
Now that we have covered the different types of MBA and the importance of choosing the right MBA program, let us see how to pick an MBA program:
How to Choose an MBA Stream?
To answer this question we have listed out the parameters to consider while finding the right MBA program:
Curriculum
Both one year and two year MBA offers varied the business fundamentals specialisations, including Marketing, Finance, Accounting, Business Analytics, Hotel Management, and so on. Electives are courses that allow you to delve more deeply into a particular subject and go beyond what is covered in the core classes. For example, students interested in marketing may take an elective course on digital marketing.
Two-year programs also allow students to explore experiential learning outside of the classroom. This can take on the form of an internship or getting involved with student groups. Some two-year programs offer additional flexibility in class format, allowing students to take a hybrid of online and in-person courses.
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Intensity of the program
A condensed curriculum implies rigour and intensity. The MBA programs abroad are extremely demanding, and led in a cohort structure with a set curriculum and schedule. For one year programs the structure is intensive, resulting in less time off during the year, and less time for socialising and networking outside of the program. It will require focus, stamina and resilience, which is not lost on many employers who recognize the drive and discipline required to complete such a program.
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Tuition fees
Besides curriculum, the cost of studying various types of MBA abroad is another differentiating factor to consider while applying for an MBA program abroad. According to Forbes, one-year MBAs have better return on investment than two year MBAs. Less time spent away from industry also means the ability to stay in touch with trends. Also take into account the cost of living abroad while making a decision on the financial front.
Length of the program
The traditional MBA programs are two-year in duration. Business Schools are developing MBA programs that can be completed in about one year. Both one-year and two-year have a similar number of credit hours. What differentiates the programs is the schedule, with one year programs holding classes most days of the week, or multiple full days of classes each week, or even holding classes on weekends which allows the curriculum to be covered in one year. Two-year programs will have less classes held each week, and weekends are usually free.
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Top 10 MBA Streams
1. Finance
An MBA in finance equips you with skills in budgeting, costing, international finance, and capital management. You will then be a specialised professional for financial management roles.
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2. Marketing
An MBA in marketing focuses on consumer behaviour, marketing, advertising, and resource mobilisation. Strong communication and marketing skills are essential for the specialisation in marketing.
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3. Human Resources
An MBA in HR covers topics like diversity, labour markets, mergers and acquisitions, and international leadership. You'll develop communication, social, and leadership skills under this specialisation.
Suggested: Best Colleges for MBA in HR Abroad
4. Operations
An MBA in operations teaches production and shop floor management, process flow, and vendor relationship management. Engineering graduates generally choose this to enhance their product development skills.
Suggested: MBA in Operations Abroad
5. International Business
An MBA in international business immerses you in the world of international operations from the very beginning. You'll learn about international marketing, import-export laws, and international finance.
Suggested: MBA in International Management
6. Information Technology
An MBA in IT prepares you to manage all aspects of IT, including planning, design, implementation, selection, usage, and administration. It is better to have some prior knowledge of the IT industry.
Suggested: MBA in Information Systems at EU
7. Supply Chain Management
An MBA in supply chain management equips you with the skills to manage inventory, warehousing, and transportation for clients and companies. This specialisation is open to graduates from any field.
Suggested: MBA in Business Administration with Logistics & Supply Chain Management
8. Healthcare Management
An MBA in healthcare management teaches you core business skills specifically for healthcare managers like hospital administrators and insurance executives.
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9. Business Analytics
An MBA in business analytics combines management and data analysis to help you make data-driven business decisions. You'll learn data mining, business intelligence, and predictive analysis.
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10. Oil and Gas Management
An MBA in oil and gas management equips you to apply your management skills in the oil and gas industry. You'll learn about energy management, risk management, and environmental issues facing the industry.
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Career Opportunities After MBA Abroad
The career opportunities after completing an MBA abroad are quite vast. The proper knowledge and skills one acquires while studying their respective MBA courses help them in stepping into the world of competitive job market.
A list of some popular job profiles for MBA graduates with their average salary are:
|
Job Title |
Average Annual Salary(in INR) |
|---|---|
|
IT Manager |
INR 47,46,000 - INR 76,62,000 |
|
Senior Financial Analyst |
INR 55,80,000 - INR 1,04,10,000 |
|
Financial Analyst |
INR 42,47,000 - INR 73,29,000 |
|
Business and Data Analyst |
INR 33,32,000 - INR 74,95,000 |
|
Human Resources Specialist |
INR 33,32,000 - INR 62,46,000 |
|
Systems Administrator |
INR 38,31,000 - INR 76,62,000 |
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From the Desk of Yocket
Finding the best MBA program abroad is a subjective proposition, and thus a difficult decision. Students may initially be drawn to program rankings and the university campus, but there are many nuances to think about such as program length, cost of tuition, scholarships offered, delivery mode, location, specialisations offered, just to name a few.
The first step is to decide on any top three priorities to narrow down prospects and start researching early. This will also give enough time to prepare for entrance exams and application deadlines, especially programs with early action. For any guidance to assist you in reaching the MBA college and specialisation of your dreams, get in touch with our counsellors at Yocket now!