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

Update on
May 30, 2020

In order to create value for its customers, produce and sell their product or service, organisations need to undertake following key functions:

  • Design, Research and Development
  • Production, Logistics and Supply Chain Management
  • Sales and Marketing Management
  • Human Resources Management
  • Financial Management
  • IT & MIS Management

Each of the functions need to work together for achieving organization’s goals and objectives. To put it simply, MBA education is a study of each of these functions so that MBAs can be effective managers after leaving the campus.

 

MBA Program teaches all these functions through its compulsory core course in first year of MBA because all MBAs should have the basic understanding of how business works. Having acquired this basic understanding of key functions, MBAs select one or two areas of specialization based on their interest and job market. So, if you have chosen for MBA Specialization in Marketing, you will study specialized subjects in this area to deepen your understanding to help you get a job in Marketing area.

 

To cater to industry demand for specialized talent, MBA specializations in various industries like Banking & Finance, Insurance, Healthcare etc are also being offered.

 

This article written by MBAUniverse.com experts will give you latest information on following:

  • Types of Top MBA Specialization in India
  • List of Top MBA Specializations
  • Top MBA Colleges offering MBA Specializations
  • Jobs and Career for each MBA Specialization
  • How to choose the right MBA Specialization

Different Types of MBA Specializations in India:
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 2nd 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.

 

List of Top MBA Specializations 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. 

Sr No

MBA Specialization

Type of Specialization

Example

1

MBA in Finance

Functional

IIM Kozhikode, JBIMS Mumbai

2

MBA in Marketing

Functional

TAPMI Manipal

3

MBA in Human Resource Management

Functional

XLRI Jamshedpur, IIM Indore

4

MBA in International Business

Functional

IIFT Delhi,Kolkata; MDI Gurgaon

5

MBA in Logistics & Supply Chain Management

Functional

UPES Dehradun; LBSIM New Delhi

6

MBA Big Data Analytics/ Data Science/ Business Analytics

Functional

IIM Bangalore; ISB Hyderabad; Great Lakes Chennai

7

MBA in Operations Management

Functional

SIOM Nashik

8

MBA in Banking & Financial Services

Sectoral

IMI New Delhi; IMT Ghaziabad

9

MBA in Insurance Business Management  

Sectoral

BIMTECH Greater Noida

10

MBA in Rural Management

Sectoral

IIM Ahmedabad; IRMA Anand

11

MBA in Healthcare Management

Sectoral

GIM Goa; K J Somaiya Mumbai

12

MBA in Pharmaceutical Management

Sectoral

NMIMS Mumbai, IESMCRC Mumbai

13

MBA in Retail Management

Sectoral

BIMTECH Greater Noida; K J Somaiya Mumbai

14

MBA in Energy Management

Sectoral

MDI Gurgaon; UPES Dehradun

15

MBA in Infrastructure Management

Sectoral

SCMHRD Pune; UPES Dehradun

16

MBA in Agri-Business Management

Sectoral

IIM Ahmedabad; IIM Lucknow

17

MBA in Entrepreneurship

Special Interest

IIM Bangalore; EDII Ahmedabad

18

MBA in Family Managed Business

Special Interest

SPJIMR Mumbai; ISB Hyderabad

19

MBA in Sustainability Management

Special Interest

IIM Lucknow; NMIMS Mumbai

20

MBA Dual Country Program

Special Interest

SPJIMR Mumbai; IMT Ghaziabad

Top 10 MBA Specializations
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.

 

How to choose MBA Specialization? Key parameters
Which specialization is best in PGDM or in MBA? How to choose MBA specialization in second year of the course or should you 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:

 

1. MBA in Finance
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

Name of MBA College

Program Name & Duration

IIM Kozhikode

2 Years full time PGP-Finance

JBIMS Mumbai

2 Years full time M.Sc. Finance

FORE School of Management, New Delhi

2 years full time PGDM-Financial Management

Read More 

 

2. MBA in Marketing Management
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

Name of MBA College

Program Name & Duration

TAPMI Manipal

2 years full time PGDM in Sales & Marketing

K J Somaiya Institute of Management Studies & Research, Mumbai

3 years part time MBA in Marketing Management

3. MBA in Human Resource Management (HRM)
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)

Name of MBA College Program Name & Duration 
XLRI Jamshedpur 2 years full time PGDM (HRM)
Tata Institute of Social Sciences (TISS) Mumbai 2 years full time M.A. (HRM & LR)
IIM Indore 2 years full time PGP-HRM
MDI Gurgaon 2 years full time PGP-HRM
IMI New Delhi 2 years full time PGDM (HRM)

Read More 

 

4. MBA International Business 
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)

Name of MBA College

Program Name & Duration

IIFT Delhi/Kolkata

2 years full time MBA (International Business)

MDI Gurgaon

2 years full time PGP (International Management)

Symbiosis Institute of International Business (SIIB) Pune

2 years full time MBA (International Business)

K J Somaiya Institute of Management Studies & Research, Mumbai

2 years full time MBA (International Business)

5. MBA in Banking & Financial Services
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

Name of MBA College

Program Name & Duration

IMI New Delhi

2 years Full time PGDM-Banking & Financial Services

IMT Ghaziabad

2 years full time PGDM-Banking & Financial Services (BFS)

K J Somaiya Institute of Management Studies & Research, Mumbai

2 Years full time MBA in Financial Services

TAPMI Manipal

2 years full time PGDM-Banking & Financial Services

Symbiosis School of Banking and Finance, Pune

2 years full time MBA Banking & Finance

6. MBA in Business Analytics
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

Name of MBA College

Program Name & Duration

IIM Bangalore

2 years full time MBA Business Analytics (MBA-BA)

IIM Calcutta

2 years full time Post Graduate Diploma in Business Analytics (PGDBA)

ISB Hyderabad

1 year Advanced Management Programme in Business Analytics (AMPBA) 

Great Lakes Institute of Management, Chennai

1 year MBA Business Analytics

Read More

 

7. MBA in Rural Management
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

Name of MBA College

Program Name & Duration

IIM Ahmedabad

2 years full time PGP (FABM)

IRMA Anand

2 years full time PGDRM

XUB-Xavier School of Rural Management (XSRM) Bhubaneswar

2 years MBA Rural Management (MBA-RM)

Xavier Institute of Social Service (XISS) Ranchi 

2 years full time Post Graduate Diploma in Rural Management (PGDM-RM)

Read More

 

8. MBA in Healthcare Management
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

Name of MBA College

Program Name & Duration

NMIMS Mumbai

2 years full time Pharmaceutical Management

Goa Institute of Management (GIM) Goa

2 years full time PGDM Healthcare Management

K J Somaiya Institute of Management Studies & Research, Mumbai

2 years full time MBA Healthcare Management

Welingkar Institute of Management Development and Research (WeSchool) Mumbai

2 years full time PGDM Healthcare Management

9. MBA in Agri Business 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

Name of MBA College

Program Name & Duration

IIM Lucknow

2 years full time PGP (Agri Business Management)

Tata Institute of Social Sciences (TISS) – School of Rural Development, Tuljapur campus

Master of Arts / Master of Science (Sustainable Livelihoods and Natural Resources Governance)

KIIT School of Rural Management Bhubaneswar

2 years full time MBA-Agri Business Management

MANAGE Hyderabad

2 years full time Post Graduate Diploma in Management (Agri Business Management) PGDM-ABM

Indian Institute of Plantation Management Bengaluru (IIPMB) 

Post Graduate Diploma in Agri-Plantation Business (PGD-ABPM)

Read More

 

10. MBA in Entrepreneurship & Family Business Management
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

Name of MBA College

Program Name & Duration

 Indian School of Business

15 Months Post Graduate Programme in Management for Family Business (PGP MFAB)

IIM Bangalore

10 Months Management Programme for Entrepreneurs and Family Businesses (MPEFB)

SPJIMR, Mumbai

2 Years Post Graduate Programme in Family Managed Business (PGP-FMB)

School of Business Management, NMIMS Mumbai

2 Years MBA- Entrepreneurship & Family Business

 Read More

 

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.