Surveys of MBA holders found that those with an advanced degree make more money than those with an undergraduate degree make, but you need to think about the areas you can specialize an MBA in before picking a program. Most schools today no longer offer a simple MBA program. These programs ask students to pick a concentration from those available in the program, which can help them work in specific industries later. While not all schools offer the same concentrations, you’ll often find that you have multiple choices.
Management
According to U.S. News & World Report, students should do some research before picking a concentration. The area you can specialize an MBA in include management, which is best suited for those hoping to launch their own companies or run a business later. As the business world constantly changes and fluctuates, these programs will help you remain on top of those changes and now how to incorporate those changes into your business. A management concentration will also teach you strong leadership skills that you can use when operating your company, hiring new workers and training employees.
International Business
Do you love the idea of working for a company with branches all around the world and working with people from different cultures and backgrounds. One of the areas you can specialize an MBA in is international business. Students learn more about the global perspectives of international business and how the global market can impact companies on the local level. Many of the courses that students take also focus on marketing and advertising, including how certain types of marketing is only suitable for specific areas and how they can change their advertising campaigns and marketing strategies to better influence those living in other countries.
Accounting
After college, you have the option of attending an accounting degree program, but those hoping to run their own companies often choose an accounting MBA program. Many of these programs will still give you the classroom experience that you need to sit for the Certified Public Accountant Examination, but you can also feel strong in your bookkeeping and accounting skills. Some of the courses that you take show you how to use different types of financial software. You’ll also take courses on creating a business budget, using accounting systems and the legal implications of accounting.
Other Options
Depending on where you attend school, you might find other concentrations available to you. Marketing is a concentration that teaches students how to identify the goals of a marketing campaign, how to launch that campaign and the different types of marketing that companies use. Taxation is a specialized concentration that only a few schools offer, but this program focuses more on the legal and ethical implications of taxation, including how to understand and follow the tax laws in the United States and abroad. Other concentrations include finance, financial accounting, auditing and human resources.
Related Resource: Global MBA
With an MBA in hand, you have the chance to earn twice as much as what undergraduate degree holders earn. As schools now offer a variety of different concentrations, you need to think about your future career goals and how the courses you can and the areas you can specialize an MBA in can help you meet those goals after graduating from the MBA program.