Recent studies show that about 33% of MBA graduates from around the world are opting to specialize in Entrepreneurship, while only about 11.9% of graduates come out with a MBA specialization in subjects such as CSR.
While many educators may be of the belief that choosing a degree focus when pursuing an MBA program may not be entirely necessary, focusing on marketing versus finance, for instance, can help you gain some perspective on your career. For many students, making this decision can be an overwhelming process.
The following tips can help you figure out the best way to finding the best MBA specialization for yourself –
Do your Background Homework
Before you start your MBA/PGDM education, consider researching some of the top companies you would like to work with. This can help you gain some clarity in the direction your education must take. For instance, if it is your goal to work in pharmaceutical consulting, get in touch with people you may know in healthcare, pharma and consulting to discuss your interests and the possible roles you could play with these businesses. These conversations can help you choose an area to concentrate in. Taking advantage of the guest speakers and industry seminars at your B-school can also help you make a decision.
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Assess your Work Experience so far
Majority of b-school students today come with some prior work experience. Rely on your experiences to analyse the kind of work you liked and the kind of work you didn’t. The work experience that you gain prior to your MBA is essentially a great way to hone in on a specific concentration or area of specialization.
Students who aren’t sure of the direction that they want to take often deter from exploring unchartered territories. Instead of laying low and not networking with anyone because you aren’t sure of what you want to do, meeting new students, professors, industry experts and other possible mentors through your B-school will allow you to gain the much needed insights on your specialization. Get aggressive during your first year, proactively seek out recruiters, university resources and faculty members in your first year to help you make a decision.
Finally, it is important that you are able to embrace change during your MBA years. Internships prove to be excellent ways to test the waters of a new industry or job profile that you intend to explore. If you find that you aren’t a good fit, feel free to change your specialization without worry. You will still have an entire year to redirect your career and find something that works.