MBA Specializations: List of MBA Specializations in India, How to Choose, Best Colleges

MBAUniverse.com classifies MBA Specializations in following different types. Most popular in the list of MBA specialization in India, include the Two-year full time MBA programs. Short duration specialized Executive MBA programs are also becoming popular to gain specific industry relevant skills. 

1. Two-Year Full-Time MBA Specializations

• Regular MBA with 2^nd year Specialization based on Function (For ex: MBA with Marketing specialization offered by IIM Ahmedabad, IIM Calcutta, FMS Delhi). This is the most common type of MBA specialization in India.  
• Specialized MBA on one of the Functions (For ex: MBA in Finance offered by IIM Kozhikode; MBA in HR offered by XLRI, IIM Indore; or MBA International Business offered by IIFT). Many IIMs and other top B-schools offer this specialized MBA.
• Specialized MBA on any Industry Sector (For ex: MBA in Banking & Financial Services by IMI, MBA in Insurance by BIMTECH or MBA in Healthcare by GIM Goa or MBA in Oil & Gas by UPES Dehradun)
• Specialized MBA on a Special Interest (For ex: MBA in Entrepreneurship or MBA in Family Business Management offered by EDII Ahmedabad)

2. 1-Year Full-Time Specialized MBA or Post Graduate Certificate Program by top B-schools like MBA in Public Policy at IIM Bangalore and MBA in Business Analytics at Great Lakes.

3. Executive/Part Time On-Campus/Hybrid or Online Specialized MBA or Certificate Programs by Top B-schools & Universities like AMPBA at ISB; PGDM Data Science at NMIMS Bengaluru, PGDM (BA) by IMT-CDL or M.Sc Business Analytics by BITS Pilani.

Given the different types of MBA Specialization, Universities and MBA Colleges started offering more than 200 MBA specializations! To avoid confusion, in January 2020, the regulatory body All India Council for Technical Education (AICTE) revised the names of all specializations into 73 categories. All B-schools are supposed to follow this guideline.

So, here is a list of Top MBA Specialization in India.

The below list of top MBA specializations include the MBA specializations in IIM and other top MBA colleges. It depends upon various factors how to choose MBA specialization as shared below in this article. Besides, which specialization is best on PGDM or in MBA can be decided in accordance with your interest and capability.

If you want to know which are the most popular top MBA Specializations in India, here they are:

1. MBA Finance
2. MBA Marketing
3. MBA Human Resource Management
4. MBA International Business
5. MBA Banking & Financial Services
6. MBA Business Analytics
7. MBA Rural Management
8. MBA Healthcare Management
9. MBA Agri Business Management
10. MBA in Entrepreneurship & Family Business Management

We will be discussing each of these top MBA specializations in detail below. But before we do that, here is a quick guide on how to select the right specialization.   

So, how to choose MBA Specialization? You need to decide judiciously which MBA specialization is best while pursuing PGDM or MBA? Besides, apart from considering the key factors how to choose MBA specialization in second year of the course, you should also give a thought whether it will be better for you to join a full time specialized MBA program? Following parameters will help you in taking the right decision

1. Your Goals & Interest: If you are passionate about making a career in a particular area, you should assess your interest in the area of MBA specialization and opt for the program.
2. Job and Career Prospects: It is very important to check for the past placement record of the program to envisage the future career progression with the specialized MBA program.
3. Rankings & Reputation of MBA Colleges offering Specialization: MBA Specializations list is long and out of it, you need to choose the best colleges. So, before finalizing your admission  check for the Accreditation, Ranking and Reputation of the B-school

Let’s know about each top MBA specialization and its key USPs

MBA Specialization in Finance is a preferred specialization opted by the students to get excellence and groom leadership skills in the areas of Financial Management, Corporate Financial Planning, Corporate Acquisitions & Mergers, Accounting, Banking and Financial Management among others.

Those who wish to make finance management as their career after doing graduation in Commerce, Science, Humanities, or have done CA/CS/ICWA, or have engineering back ground, can opt for MBA specialization in Finance as there is no specialized qualification bar to opt for MBA Finance. There is also no age bar to take admission in the MBA Finance programme.

While all 2-year Full-Time Regular MBA programs offer this specialization in second year of their program, there are a few top Institutes offering Specialized MBA in this area.

If you pursue General MBA in IIMs or other top B-schools, you can choose your specialization in the end of first year but if you are taking admission in the specialized MBA program, you choose your specialization on the day one of the first year as you cannot change your specialized MBA program. So, before entering the MBA program, you should give a thought to the idea whether you wish to choose your specialization after one year of study or want to pursue MBA in the pre-decided specialized area without leaving scope for change. 

Top Institutes with MBA Specialization in Finance

Also Read: MBA in Finance

Specialization in Marketing Management is traditionally preferred and is considered as the best MBA Specialization for future security as the demand for MBAs with Sales & Marketing skills never go down. 

The Students who wish to get skills in the areas of Consumer Behaviour, Sales Management, Branding, Product Development, Market Research, Advertising & Communication, Services Marketing, Rural Marketing, Digital Marketing amongst others prefer specialization in Marketing Management.

Skills required by candidates to pursue MBA in Sales & Marketing degree are Mathematical Ability, Good Communication Skills, Analytical and Leadership Skills, Reasoning Skills and Problem-Solving Skills.

While all 2-year Full-Time Regular MBA programs offer this specialization in second year of their program, there are a few top Institutes offering Specialized MBA in this area.

If you pursue General MBA in IIMs or other top B-schools, you can choose your specialization in the end of first year but if you are taking admission in the specialized MBA program, you choose your specialization on the day one of the first year as you cannot change your specialized MBA program. So, before entering the MBA program, you should give a thought to the idea whether you wish to choose your specialization after one year of study or want to pursue MBA in the pre-decided specialized area without leaving scope for change.  

Top Institutes with MBA Specialization in Marketing Management

MBA specialization in HRM is very much in demand by industry. Managing and retaining the best human resources at the work place has become a challenge and therefore the demand for candidates who have done MBA in HR is growing year after year in the corporate and industry. With an increased recognition of the critical issues in managing human resources in business organizations, the MBAs in HR are in demand today for deploying their skills to hire, manage and retain talent in these dynamic & challenging times.

If you are the one who has keen interest to the most sensitive ‘Human’ side of an organization, the MBA HRM specialization is right choice for you. The program requires the Human Resource Manager to make sure that the business organization has the required number of skilled people with the adequate knowledge about their work and organizational goals. The program has its primary objective to develop the critical skills, knowledge and a sensitive HR Professional who can manage with ease - both core business and human resource related challenges.

While all 2-year Full-Time Regular MBA programs offer this specialization in second year of their program, there are a few top Institutes offering Specialized MBA in this area.

If you pursue General MBA in IIMs or other top B-schools, you can choose your specialization in the end of first year but if you are taking admission in the specialized MBA program, you choose your specialization on the day one of the first year as you cannot change your specialized MBA program. So, before entering the MBA program, you should give a thought to the idea whether you wish to choose your specialization after one year of study or want to pursue MBA in the pre-decided specialized area without leaving scope for change. 

Top Institutes with MBA Specialization in Human Resource Management (HRM)

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MBA Specialization in International Business is the backbone of economic growth and those who get skilled in the MBA IB know well how the precious foreign currency could be earned for the country with best management skills. The program gives key understanding of the capabilities needed for international operations. It imparts skills on international marketing, finance, various international codes of conduct.

MBA IB, in fact is the MBA degree on multinational corporate. If you have keen interest in global operations, international exports and imports, you can pursue this Program.

While all 2-year Full-Time Regular MBA programs offer this specialization in second year of their program, there are a few top Institutes offering Specialized MBA in this area.

If you pursue General MBA in IIMs or other top B-schools, you can choose your specialization in the end of first year but if you are taking admission in the specialized MBA program, you choose your specialization on the day one of the first year as you cannot change your specialized MBA program. So, before entering the MBA program, you should give a thought to the idea whether you wish to choose your specialization after one year of study or want to pursue MBA in the pre-decided specialized area without leaving scope for change. 

Top Institutes with MBA Specialization in International Business (IB)

MBA specialization in Banking & Financial Services is one of the most sought after specializations as it caters to the growing needs of management professionals for Banking and Financial Services industry. The program is aimed to develop quality management professionals equipped with technical and managerial competency with a global mind set.

The program grooms students into immediately employable managers in core banking and financial services. Not only in India, but across the Globe the demand for the professionals with management skills and knowledge to demonstrate problem solving skills by understanding and defining the problems related particularly to banking and financial services, analyzing it and solving it by applying appropriate theories, tools and techniques, is rising.

If you have interest in Banking and Financial services, you can choose this specialization. While all 2-year Full-Time Regular MBA programs offer this specialization in second year of their program, there are a few top Institutes offering Specialized MBA in this area.

If you pursue General MBA in IIMs or other top B-schools, you can choose your specialization in the end of first year but if you are taking admission in the specialized MBA program, you choose your specialization on the day one of the first year as you cannot change your specialized MBA program. So, before entering the MBA program, you should give a thought to the idea whether you wish to choose your specialization after one year of study or want to pursue MBA in the pre-decided specialized area without leaving scope for change.  

Top Institutes with MBA Specialization in Banking & Financial Services

The importance of MBA specialization in Business Analytics is consistently growing as the demand for the talent to analyse and demystify big data is going up year after year. IIMs and top university and private management institutes on realizing the importance of Business Analytics MBA program, are offering it as one of the specialized Management courses in India. There are more than 100 B-schools offering MBA in Business Analytics in India either exclusive full time program or as a specialized management program

While all 2-year Full-Time Regular MBA programs offer this specialization in second year of their program, there are a few top Institutes offering Specialized MBA in this area.

If you pursue General MBA in IIMs or other top B-schools, you can choose your specialization in the end of first year but if you are taking admission in the specialized MBA program, you choose your specialization on the day one of the first year as you cannot change your specialized MBA program. So, before entering the MBA program, you should give a thought to the idea whether you wish to choose your specialization after one year of study or want to pursue MBA in the pre-decided specialized area without leaving scope for change. 

 Top Institutes with MBA Specialization in Business Analytics

Top Institutes with MBA Specialization in Business Analytics

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More than 50 percent of India’s marketing, finance and human resources management is related to rural management. India will require more and more qualified professionals with MBA in Rural Management specializations during next 3-4 years. This is the reason that more and more multinationals are attracted towards the skilled professionals with MBA in Rural Management to cater to the needs of huge potential of rural market in India.

MBA specialization in Rural Management applies the management theories and practice with their modified process meant for rural areas that can be converted into high potential market in future. Rural Management program offers learning and managing the rural markets which are prominently dominated by agriculture and allied products by using locally available raw material. If you have interest and wish to grow as the expert on rural management, you should go for MBA-RM specialization.

MBA in Rural Management has a track record of 100% placement. Not only at campus placements, the job opportunities for qualified MBAs in Rural Management are available with high salary packages outside as well. More and more companies with tremendous investments with focused attention on Rural Markets are emerging with high placement packages to qualified professionals.

While all 2-year Full-Time Regular MBA programs offer this specialization in second year of their program, there are a few top Institutes offering Specialized MBA in this area.

If you pursue General MBA in IIMs or other top B-schools, you can choose your specialization in the end of first year but if you are taking admission in the specialized MBA program, you choose your specialization on the day one of the first year as you cannot change your specialized MBA program. So, before entering the MBA program, you should give a thought to the idea whether you wish to choose your specialization after one year of study or want to pursue MBA in the pre-decided specialized area without leaving scope for change.  

Top Institutes with MBA Specialization in Rural Management

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MBA Specialization in Healthcare Management is a fast upcoming program offered by number of MBA colleges. Focusing on the most relevant issues of preventive Healthcare, treatment and pharma management, Hospital Administration and Management, health insurance, this program provides you brighter career prospects. 

The MBA Health care offers you wide range of roles in healthcare management at various companies, hospital chains, diagnostic chains, healthcare insurance companies.

While all 2-year Full-Time Regular MBA programs offer this specialization in second year of their program, there are a few top Institutes offering Specialized MBA in this area.

If you pursue General MBA in IIMs or other top B-schools, you can choose your specialization in the end of first year but if you are taking admission in the specialized MBA program, you choose your specialization on the day one of the first year as you cannot change your specialized MBA program. So, before entering the MBA program, you should give a thought to the idea whether you wish to choose your specialization after one year of study or want to pursue MBA in the pre-decided specialized area without leaving scope for change. 

 Top Institutes with MBA Specialization in Healthcare Management

The recent spurt in full time MBA in Agri Business Management programs offered by number of universities and Agriculture Business Management colleges including top MBA colleges, reflects how important the MBA Agribusiness specialization has become in recent years.

MBA specialization in Agri Business is best suited for the candidates with agriculture, agri engineering, food engineering/technology, graduate in agriculture science, biotechnology background. Besides, if you have keen interest in Agriculture and allied business activity and wish to make a career with this MBA specialization with high growth prospects, you should opt for it.

100% Placement is achieved in the top colleges offering MBA Agribusiness course. Consistent rise in salary during past 5 years of MBA Agri Business Placements is visible in the placement reports for MBA Agri Business Specialization. Roles are offered in  the Marketing, Finance, Agri Officer, Operations among other domains.

While all 2-year Full-Time Regular MBA programs offer this specialization in second year of their program, there are a few top Institutes offering Specialized MBA in this area.

If you pursue General MBA in IIMs or other top B-schools, you can choose your specialization in the end of first year but if you are taking admission in the specialized MBA program, you choose your specialization on the day one of the first year as you cannot change your specialized MBA program. So, before entering the MBA program, you should give a thought to the idea whether you wish to choose your specialization after one year of study or want to pursue MBA in the pre-decided specialized area without leaving scope for change. 

Top Institutes with MBA Specialization in Agri Business Management

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MBA Specialization in Family Business Management offers the opportunity to the students to further expand and strengthen their family business and also to venture into entrepreneurship with innovative ideas after getting proper grooming and skills on completion of their MBA Family Business and Entrepreneurship Program.

While all 2-year Full-Time Regular MBA programs offer this specialization in second year of their program, there are a few top Institutes offering Specialized MBA in this area.

If you pursue General MBA in IIMs or other top B-schools, you can choose your specialization in the end of first year but if you are taking admission in the specialized MBA program, you choose your specialization on the day one of the first year as you cannot change your specialized MBA program. So, before entering the MBA program, you should give a thought to the idea whether you wish to choose your specialization after one year of study or want to pursue MBA in the pre-decided specialized area without leaving scope for change.  

Top Institutes with MBA Specialization in Entrepreneurship & Family Business Management

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The demand for MBA Specializations in India is changing with changing requirements of Business and Industry. Now, the Specialization in Business Analytics, Rural Management, Family Business, Health Care Management are some of the MBA Specializations in demand in India and are considered the best MBA Specialization for future. Read more about Top MBA Specialization in India.