One of the most popular options that many students from a variety of streams prefer to take up is Masters of Business Administration or as it is popularly known; MBA. An MBA degree provides its degree holder with a wide plethora of opportunities, in numerous fields.

A professional two-year degree course, MBA degrees are handed out by some of the most prestigious institutes of our country. Before getting into the jobs available to one after successfully completing an MBA, let us first discuss the various types of specializations one can do with his MBA degree. It is these specializations that mainly affect the job options offered after graduation.

What are the different MBA specializations?

Choosing a specialization is very important as this will help students get better jobs based on the specific skills that they have honed. Some of the top MBA specializations are:

•  MBA in Finance: One of the most popular courses, it is chosen by those students who are interested in finance management.
•  MBA in Marketing: Dynamic and competitive, this specialisation helps students develop excellent communication skills and understand consumer behaviour.
•  MBA in Human Resource Management: With this specialization, students learn about mergers and acquisitions, and workforce diversity management among other important things about the emerging economy.
•  MBA in International Business: The degree imparts a special focus on multinational corporations and specialized functions like international marketing and finance.
•  MBA in Operation Management: A major preference of candidates from an engineering background, this specialization deals with production management and shop floor management-related functions.

Along with these top five specializations, there are also others:

• MBA in Information Technology which is slowly gaining popularity,
• MBA in Supply Chain Management,
• MBA in Rural Management,
• MBA in Agri-Business Management, and
• MBA in Health Care Management.

The specialization that is chosen by the student is instrumental in deciding the career options available to him after graduation. This has been further discussed in detail below.

Career Options Available After MBA

The career options available to MBA degree holders completely depend upon the specialization done by him. The specialization will decide which industry he belongs to and will ultimately end up shaping his career.

This article will discuss the career options available to those MBA graduates who have chosen some of the more popular specializations:

1. MBA in Finance:

One of the most difficult courses is an MBA in Finance. The abundance of opportunities and the various subjects taught to the students like Corporate Valuation, Investment Management, Management Control Systems, Taxation, Financial Statements, Tax Planning, Analysis and Reporting of Financial Services, is an important reason for the magnetism of this course.

A graduate can avail of the following career options after MBA in Finance:

a) Merchant Banking: Merchant bankers play a pivotal role in the financial system as they assist companies in raising capital. They advise companies on IPOs, manage assets, and provide financial advice. They also assist in private equity where they link potential investors with companies needing capital.

Individuals with an MBA in Finance can rise through the ranks in merchant banking from Analyst to Associate, Vice President, Director, and ultimately Managing Director. With globalization and increasing business complexity, the need for expert advice on mergers, acquisitions, and capital raising has grown, providing ample opportunities for merchant bankers.

b) Investment and Consumer Banking: In investment banking, professionals help companies, institutions, and governments to raise capital and provide strategic advice for mergers, acquisitions, and other types of financial transactions. In consumer banking, professionals deal with individual and small business customers providing a variety of services including loans, credit, savings accounts, and investment services.

The investment banking sector provides a structured career path from Analyst, Associate, Vice President to Director and Managing Director. For consumer banking, roles could include Branch Manager, Operations Manager, Financial Analyst, Credit Analyst, and eventually higher management roles.

c) International Finance: A professional in international finance is responsible for managing financial transactions that occur across different countries. They deal with issues related to foreign exchange risk management, international monetary markets, and cross-border investments and trade.

Those with an MBA in Finance can work in various roles in multinational corporations, investment banks, and government agencies. They could become Foreign Exchange Managers, International Financial Analysts, International Trade Specialists, or Financial Managers in companies with global operations.

d) Corporate Finance: Corporate finance professionals manage the company’s financial resources to maximize shareholder value. They handle capital budgeting, investment analysis, risk management, and financial planning. They also evaluate projects and investments to determine their potential returns and risks.

Job opportunities for MBAs in corporate finance range from Financial Analysts, Financial Managers, Chief Financial Officers, to Treasurers. They can work across a wide range of industries including technology, healthcare, manufacturing, and others.

e) Institutional Finance: Professionals working in institutional finance manage the investment portfolios of institutional clients like pension funds, mutual funds, insurance companies, and endowment funds. They’re responsible for asset allocation, risk management, and investment strategy.

There are numerous career paths for those specializing in institutional finance. They can work as Portfolio Managers, Investment Analysts, Risk Managers, or Financial Advisors. With enough experience, they could move into leadership roles like Head of Asset Management or Chief Investment Officer.

He can also serve on government committees and add inputs to policy-making issues as well as provide consultation services to government and corporate organizations.

Some of the jobs available to those who have done an MBA in Finance are Accounting Manager, Chief Financial Officer, Cash Manager, Manager Consultant, Investment Banking Associate, Credit Manager & Specialist, Financial Analyst, Corporate Controller, Finance Officer and Treasurer, Insurance & Risk Managers, Investment Bankers, Investing Sales Traders and Associates.

MBA graduates in Finance can expect a heavy pay package depending upon the Business school they have graduated from. Some of the top packages from the top B-schools are at an average of 10 – 15 lakhs per annum.

2. MBA in Marketing:

MBAs from the Marketing stream are much more sought-after as better marketing is the universal remedy that companies have prescribed for themselves to ward off the ills of recession.

MBAs in Marketing can choose from a wide variety of careers in various industries like retail, banking, hospitality, media, information technology (IT) and information technology-enabled services (ITES), and free-moving consumer goods (FMCG). They can often find jobs in the positions of brand manager, sales manager, marketing manager, product manager, market research analyst, media planner, and Internet marketing manager.

Their responsibilities in these positions will include several different things. As a marketing manager, they will make a marketing strategy that focuses not only on retaining customers but also on bringing in new ones.

If they choose the job of a market research analyst, then it will be their job to devise methods of data collection, analyze data, convey the data to the business development team, and help in evolving marketing strategies.

The annual salary of MBAs in Marketing may range from Rs. 1.51 lakh to Rs. 20.43 lakh in popular companies including HDFC Bank, Tata Consultancy Services, Kotak Mahindra Bank, Vodafone, and Amazon. Their career progress and salary depend on their capacity to innovate. They may even rise through the ranks to become product development managers and even vice presidents of marketing or CEO.

3. MBA in Operations:

A field of specialization that is becoming increasingly popular, it gives its graduates an edge over the others, especially if they learn Six Sigma and Lean methodologies. MBA in Operations is a valued specialization across all industries, including telecom, IT, and e-commerce.

Career options after MBA in Operations include:

a) Supply Chain Manager: A Supply Chain Manager oversees and manages every stage of the supply chain process. They ensure the smooth flow of goods, information, and finances from suppliers to consumers. Responsibilities include procurement, production scheduling, inventory control, logistics, and customer service.

With experience, Supply Chain Managers can move into executive roles such as Director of Supply Chain or Chief Operations Officer. The growth of e-commerce and global business expansion has increased the demand for skilled supply chain professionals.

b) Logistics Manager: A Logistics Manager is responsible for the planning, coordination, and monitoring of logistics operations such as warehousing, inventory management, and transportation. They ensure efficient and timely delivery of goods and services.

There are diverse opportunities for growth within the logistics field. With an MBA in Operations, one can become a Senior Logistics Manager, or Director of Logistics, or take on strategic roles in supply chain management.

c) Inventory Control Manager: An Inventory Control Manager oversees the inventory levels of a company. They develop and implement strategies to maintain optimal inventory levels, reducing carrying costs and eliminating stock shortages/overages. They also supervise activities like demand forecasting, stock reconciliation, and warehouse management.

Career advancement can lead to roles such as Director of Inventory Management, Supply Chain Manager, or Operations Director. The increased use of sophisticated inventory management software and systems has made this role pivotal in many industries.

d) Project Manager: A Project Manager is responsible for planning, executing, and overseeing projects to ensure they are completed in a timely fashion and within budget. They define project scopes, develop schedules, and work closely with different departments to ensure project success.

Project Managers can advance into roles such as Senior Project Manager, Program Manager, or Project Management Office Director. As businesses continue to undertake complex projects, the demand for skilled project managers is expected to grow.

e) Operations Manager: An Operations Manager oversees the production of goods and services in a company. They are responsible for ensuring efficiency, maintaining quality standards, managing budgets, and improving administrative processes.

Operations Managers can progress into roles such as Plant Manager, General Manager, or Chief Operations Officer. Every industry requires effective operations management, providing a wide range of opportunities for career growth.

With experience, the MBA graduate can even secure consultant contracts.

The average salary of an Operations Manager in India ranges from Rs. 3-15 lakh per annum in top companies like Amazon, Dr Reddy’s Laboratories, Airtel, TVS Motor Company, and Deloitte.

4. MBA in Technology:

Graduates with an MBA in Technology can find jobs in many technology-based companies all of whom require the services of technology managers. They can also be employed as project managers, business development executives/managers, product managers, marketing managers, analytics managers, system managers, data processing managers, business analysts, IT managers or consultants, technical program managers, senior product managers, and technical product managers.

As technology managers, it will be their responsibility to keep up with fast-changing technology developments and innovations and understand products and services that will thrive in the market.

Salaries in this field, in India, start from Rs. 2 lakhs for a fresher and go on to Rs. 12 lakhs per annum in a few years, in companies like Caterpillar, L&T, TCS, Infosys, Wipro, Accenture, Capgemini, SAP, HP, and Cognizant.

5. MBA in Human Resource Management:

Human Resource Management is often considered the backbone of any organization, which enables it to run successfully by recruiting a skilled and knowledgeable workforce. As such, there is a high demand for MBAs in Human Resource Management (HRM).

Every company needs to hire an HR administrator to take care of various things like settling and handling the activities regarding the hiring of employees, their benefits, compensation, salary settlement, training & development, maintaining the work performance of the employees, and ensuring that all activities are done as per the company policy.

As such, they can be employed in the positions of HR Generalist, Staffing Director, Technical Recruiter, Compensation Manager, Employee Relations Manager, Employment or Placement Manager, Director of HR Training and Development, and Organizational Development and Change Consultant.

The salary of an MBA graduate in HRM in India will range from 2 lakh to 5 lakh per annum, in companies like ABC Consultants, Wise Group, Kelly Services, Manpower Inc, and Kforce among others. Hence, we can see that an MBA is a very rewarding and lucrative degree. Several benefits of doing an MBA like career change, personal development, career development and enhancement of knowledge, skills and abilities lead to MBA being one of the top five postgraduate degrees pursued by Indian students, in this day and age.