Top 10 MBA Specialisations in 2023

A Master of Business Administration is a post-graduate programme designed to open new opportunities for professional growth and development. This is a course usually recommended for working professionals, and since individuals bring their work experience and knowledge of the dynamics of the business into the real world, an MBA degree is a great way to network with a diverse group of experts hailing from different industries. This is a proven programme to gain business acumen as an MBA program provides students with a comprehensive understanding of business strategies and insights into management techniques.

Studying for an MBA also embellishes skills needed for success in career growth, by rightfully emphasizing leadership development, thinking critically and analytically, and making robust decisions in a complex business environment. You are gaining access to an extensive alumni network, along with enjoying extremely high and competent salaries on the job market.

While studying MBA can be heavy on the pockets, because of the high return on investment, and promised packages, it is easier to pay off the debt of an MBA education.

That being said, here is our pick of the top 10 MBA specializations in the year 2023, that have the highest pay:

1. Consulting:

• The program typically covers topics such as strategic planning, business analysis, data-driven decision-making, change management and organizational behaviour. Students with MBA in consulting can find jobs in industries like technology, finance, healthcare and retail. Top MBA Schools for consulting in India include:
• IIM Ahmedabad
• IIM Bangalore
• IIM Kozhikode
• FMS
• IIM Lucknow

2. Financial Specialisation:

It is one of the most popular MBA specialisations as every company requires proper accounting and control. Graduates in commerce, science and humanities or students who have passed CFA/CMA/CA are eligible to apply for this degree. If your interest lies in degrees like financial management, investment banking, risk management, and other financial services, this is the right degree. MBA Colleges that offer financial specialisation courses include:

• MIT School of Management, Pune
• IIM Ahmedabad
• Xavier School of Management (XLRI), Jamshedpur
• IIFT

3. Technology:

This program focuses on the application of technology in business and is designed for students who are interested in pursuing careers in digital marketing, technology management, digital innovation or technological consulting. Students can apply their learning to increase information technology, data analysis, digital transformation and innovation management. Some of the top MBA in technology programs are offered by:

• Indian Institue of Technolgy, Mumbai
• Xavier Labour Relations Institute
• VGSoM Kharagpur
• IIM Kozhikode
• NMIMS Mumbai

4. Healthcare:

The program is designed for students interested in the field of healthcare finance, healthcare policy, healthcare law and healthcare ethics, to apply business and management principles, and contribute to the growth of the industry. The graduates can find jobs in pharmaceutical companies, hospitals, healthcare consulting firms, and government agencies. Top MBA schools include:

• IIHMR
• MBA courses offered by AIIMS
• XLRI
• IIM Trichy

5. International Business:

The curriculum of international business covers subjects such as international business, cross-cultural management, international trade, global marketing and international finance. You also study how legislation and policies work and impact business across countries. Top MBA colleges include:

• IIFT
• FMS
• XLRI
• MDI Gurgaon
• Symbiosis Institute of International Business

6. Marketing:

This program is designed to understand the working dynamic of the market, principles and practices of sales. Usually, in the skills required to become a CEO with an MBA degree, MBA in marketing is a top-notch degree and is one of the high-paying MBA specialisations. The best MBA colleges in India for marketing are:

• IIM Ahmedabad
• XLRI
• FMS
• IIM Bangalore
• IIM Calcutta

7. Operations Management:

In this degree, the focus is on acquiring knowledge of the principles and practices of optimally carrying out business operations that drive up the sales and profits of the firms. Students learn about supply chain management, project management, process improvement, and quality management. The top picks are:

• Indian Institute of Management, Ahmadabad.
• Indian Institute of Management, Bangalore.
• Indian Institute of Management, Kolkata.
• Symbiosis Institute of International Business, Pune.
• Narsee Monjee Institute of Management Studies, Mumbai.

8. Human Resources:

This degree trains the students how to tackle the workforce, manage compensation strategies, and performance assessment, and is best suited for students with organisational skills. Top MBA colleges are:

• TISS Mumbai
• XLRI
• MDI Gurgaon
• IMI New Delhi

9. Entrepreneurship:

This degree helps in developing entrepreneurial acumen to start and grow a business and includes subjects like venture capital, entrepreneurship, market research and innovation. In India, colleges best suited to offer this degree are:

• Nirma Institute of Management, Ahmedabad – MBA (Family Business & Entrepreneurship)
• Indian Institute of Management, Ahmedabad.
• Symbiosis Institute of Business Management (Innovation & Entrepreneurship)

10. General Management:

The focus is on understanding the foundations of managing a business, how to develop and execute strategies, make decisions related to finance and business operations. Top MBA in General Management include:

• IIM Ahmedabad
• XLRI
• FMS
• IIM Bangalore