Specialized sectoral management programmes in Power, Oil, Energy, logistics, transportation, Retail, health care and many more are of the recent origin and indicate rising demand of such professionals in the economy with Make in India gaining momentum. Specialized MBA programmes are gradually getting preference over the regular and conventional MBA programmes.
Earlier candidates were too much worried and stayed away from specialized MBA programmes. But with bright future prospects in offing with ‘Make in India’ campaign, wide spectrum of career opportunities is expected to open for sectoral MBA in a few years. Since it will also take a candidate 2 years to complete his course, it is expected that the demand for such specialized MBAs after 2 years might be more than their supply. Accordingly MBA aspirants now have become more specific on choosing the sectoral MBA programme but the suggestion is that they should exercise caution before choosing the right MBA programme.
Choose an MBA to improve your skill
Before choosing the right sectoral specialization it is necessary to know about programme USPs to make a right choice. It is not regular MBA but will be more focused on improving your management skills in the particular sector. You will then become a specific product for a particular use and not like an MBA with specialization in function only.
Before taking admission to the programme please think twice whether you are ready for it, whether you have studied the past statistics and future growth prospects as well as the USPs of B school where you want to pursue the course. With the expected growth plan of new Government, following sectoral specialized MBAs could be your hot destinations.
MBA in Core sector
MBA in core sectors like Power, energy, transportation & logistics, aviation, Oil & Gas, infrastructure is destined to reach the heights of growth in near future. All these sectors are on the priority list of the government and are to be put on fast track of development. FDIs in real estate, infrastructure, aviation, power may not be ruled out as the economy is crying to have better growth structure in these sectors. Many national and international aviation companies are waiting for a nod from the government.
Not every B school offering MBA in number of core sectors can provide it as efficiently as the one that offers lesser number of programmes or is solely specialized in core sector. Another aspect is to cross check the placement data of the B school offering MBA/PGDM in core sectors to ensure the credibility of the programme and take the decision judiciously.
UPES University Dehradun offers MBA in Oil & Gas, Power, Energy, Infrastructure, Aviation, Port & Shipping, Logistics & Supply Chain. The University claims to be achieving 90% placement every year. The admission is based on UPESMET, an entrance test conducted by the University. Besides UPES also accepts CAT/XAT/CMAT/MAT scores.
A word of caution is there for the candidates seeking MBA admission in core sector. They have to step in very cautiously as the growth in core sectors cannot be as fast as in other sectors. Although an aviation company can start operating quickly, projects on power plant, oil refinery, rail, road expansion take several years to materialize.
MBA Banking and Insurance
In the service sector Banking and Insurance fields have been emerging as important areas of pursuing sectoral MBA programme. One of the hot sectors, MBA Banking and Insurance is expected to grow faster than other sectors. Hundreds of B schools are there, offering MBA based on functions but are very less with specific focus on these sectors.
The Banking and Insurance sector is probably is the largest sector and is still growing in terms of expansion, innovation. More international and national players at a large scale are supposed to join this sector.
The demand for MBAs in this sector is supposed to increase manifold but simultaneously this is the quality that will be needed to fulfill the requirement. You have to ensure that the B school imparting MBA specialization in Banking and Insurance sector has renowned faculty, more public and private sector banking and insurance companies are connected to it and it has a good placement record else your future will be at stake and you will not be left with much choice after completing the sectoral specialization.
Following B schools offer specialized MBA in Banking and/or insurance sector- NMIMS, Symbiosis, IP University New Delhi, NIBM Pune, IIBF, National insurance Academy Pune among others. The placement in public sector banks and insurance companies is based on competitive examination while private sector banks and insurance companies visit the campuses for placement.
MBA Retail Management
It’s a fact that high hopes are prevailing for tremendous growth in investment in next 4-5 years both domestic and foreign especially in retail sector. This could bring more job opportunities. Placement ratio for MBAs in retail management would also increase. National and international retail giants are also planning to enter the retail sector in a big way. Hyper Market companies and B schools are also joining hands in designing the programmes according to their future requirements.
Organized retail sector is growing at a faster pace in India. The expansion in retail sector is expected to further go up with the approval of FDI in multi-brand retailing. This sector would need more professionals in retail management.
The placement package could go in a range of Rs 5 lacs to Rs 15 lacs depending upon your skills after completion of the course.
Top B schools offering MBA/PGDM in Retail management are BIMTECH, Greater Noida, K J Somaiya Mumbai, Jaipuria Institute of Management Lucknow, ITM Mumbai, SCMS Cochin, JIMS New Delhi.
MBA Healthcare
It’s a priority and fast growing sector and with the expectation of more healthcare brands coming to India, the demand for MBAs in healthcare is also expected to increase manifold. At present even, required number of MBAs are not available in this sector mainly for the reason that not many candidates with Engineering, humanities, commerce background like to pursue the course as it needs some basic knowledge on health care. The course can be of interest for those who have life sciences, medical, para medical back ground.
B schools like TAPMI, NMIMS, SIES, Symbiosis, Sharda University offer such specialized management programme. The programme has a low fee structure in comparison to the flagship programme.
The placement to MBAs in this sector is offered by chain of hospitals, health care product manufacturing and selling companies like Apollo, MAX, Fortis, Dr Reddy’s, CURA Healthcare, DaVita Nephrolife, Ranbaxy.
Two most important things that you should remember before opting for MBA Healthcare are, check the past record of the institute and the truth about recent placement. The sector has good growth prospects but not all the B schools can reap the fruits from this growth. So be careful in your choice.
MBA International Business
With the economy on revival path, international trade is expected to pick up tremendously. The sectoral specialized MBA (IB) can open more vistas of career. The programme gives you deep insight on foreign exchange working and shares intricacies on International Trade which definitely is different from domestic business.
This programme has its unique USPs and probably there is no better institute than Indian Institute of Foreign Trade (IIFT) that can offer it in better shape. MBA(IB) is the flagship programme at IIFT. Despite its high fee structure of Rs. 13-14 lacs and intake of 220 students more than 50K appear in the test every year. The ratio is higher than CAT. Besides PGDM (IB) at BIMTECH Greater Noida is also considered a very good MBA programme and is also preferred by the MBA aspirants.
Apart from these two B schools the programme is offered by K J Somaiya, Fore, Asia pacific Institute of management, UPES Dehradun where admissions can still be sought.
Please however remember, the fluctuations in placement especially in B schools other than IIFT depend more upon the demand at the material time of placement. So decide after reviewing the past performance of the particular B school where you are seeking the admission.
Till a few years back an MBA used to think in terms of would be manager in conventional functions only. Sectoral specialization was not a topic for discussion. Now choice for specialized MBA programmes has also increased with more opportunities coming up.
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