You’ve decided to start an MBA program. Great! The decision to get an MBA is one of the most rewarding you’ll make. However, aside from the competitive classes and finding yourself being accepted to one of the best online MBA programs, deciding which specialization to go into can sometimes be harder than getting into that prestigious program.
With the changing world economy and global business market, some specializations are more apt to equal a return on your investment than others. Learning more about each one and which are the most sought-after in our changing world can help you tailor your degree to exactly what you want to do after graduation. If you’re still deciding, take a look at 5 of the most sought-after MBA specializations.
1. International Business
With a growing world and ever-changing economy, it’s important to realize that even local businesses are part of the global system. Businesses all over the world are connected now more than ever and can reach customers in all parts of the globe.
For those who are interested in working in both large and small multinational or global companies, a degree in international business can set you apart from the rest. While many students are studying local business or developing skills perfect for businesses at home, having an international business degree allows you to take the classes and perfect a resume that will skyrocket your marketability around the world.
You’ll learn about cross-cultural differences, emerging markets, international supply and demand, and how multinational organizations are changing and evolving around our world. Look for one of the best online MBA programs specializing in international business before applying to your program of choice.
A finance specialization can be one of the most lucrative if done correctly. While finance doesn’t necessarily have to have an MBA to be an option, for many going the business route, it can be the highest paying and have the most variety of job options. Finance degrees average upwards of $100,000 and are used by companies all over the world.
Financial analysts, portfolio managers, and chief financial officers are usually positions held by those with MBAs and a specialization in finance. If you’re more interested in starting your career at a lower or more manageable level, there are many entry level positions available for those with a finance background whereas other specializations start much higher up in the “food chain.”
Marketing is the most recognizable and flexible of all the MBA program specializations. Some of the best online MBA programs have extensive marketing degree classes and fields. From print advertising to digital media and online sales and structure, marketing can be one of the fastest growing sectors in business.
As the digital world comes more apparent leaving old methods of marketing behind, having an updated degree and knowledge of trends, brands, and social media can make you more desired than your peers. It’s important to understand and get into a program that places an emphasis on the future of marketing and not just the here and now.
For those whose ultimate goal is to own or start their own business, entrepreneurship is the right specialization path to choose. And, with the change in online sales and business models, more and more MBA graduates are making entrepreneurship their choice.
Whether starting a business from the ground up or tweaking and perfecting an existing venture, having an understanding of what your business needs are can making it easier to get the return on investment you’re looking for. While many of the best online MBA programs have an entrepreneurship program, it’s important to look for one that offers classes you can take while also running your business.
Time has been kind to the accounting specialization and even after a century of MBA graduates making it their go-to, it still remains one of the most important and sought-after specializations.
From running the budget for your business or another to becoming a financial officer or analyst, accountants can enjoy a large variety of jobs or opportunities after graduation. This degree is often one of the most rewarding because it offers classes in many other degree programs and specializations as well. You’ll leave with an understanding of more than just your particular specialization.