Which Field is Best with a Master of Business Administration (MBA) in India?

Jul 12, 2024 by Admin

Nowadays, the MBA professional course is the most opted-for program by candidates willing to gain academic and career advantages in management studies. Reputable institutes in India offer a variety of MBA programs, including regular, part-time, distance, and online modes.

MBA is the most versatile program, where students have various career options that fit their interests in business administration. Candidates can pursue this 2-year PG program after completing their graduation degree from a recognized university. MBA programs are gaining popularity among students and working professionals in India. Students will gain managerial, technical, organizational, and technical skills by the end of the programs. This knowledge will help them build their careers.

Even those who are currently working in an organization can choose to pursue an MBA in Distance or Online mode, which will help them grow their careers with better designations. Candidates who pursue this degree will get high-paying jobs in their current organization or other fields, as well as help them become entrepreneurs. Even for new candidates, it will help them attract great jobs after completing their graduation.

As said earlier, there are various modes of education for MBA programs. There is not only a traditional or Regular MBA; students can opt for a Distance, Online MBA, or Executive MBA. This executive MBA is specially curated for working candidates at the mid-senior executive level.

Which is the Best College for an MBA?

Top MBA Institutes offer a variety of specializations and curricula. Students can choose their interests and disciplines in the admission process. Below are a few of the Top 10 MBA institutes in India:

IIM Kolkata
IIM Lucknow
IIM Bangalore
IIM Ahmedabad
IIM Kozhikode
IIM Indore
IIT Delhi
XLRI Jamshedpur
Symbiosis Institute of Management Studies, Pune
IIT Kharagpur-VGSOM

Which field has the best scope for an MBA?

Many specializations are available in the MBA program that will help students in various fields. Here we have listed the Top MBA Specializations that have great demand in making a career are given below:

MBA in Finance Management
MBA in Marketing
MBA in Operations Management
MBA in HRM
MBA in Hospital and Healthcare Management
MBA in Tourism Management
MBA in IB
MBA in International Management
MBA in Rural Management

The detailed info about each of the specializations will be mentioned below:

MBA in Finance Management

Finance management is the most popular and in-demand specialization for MBA students. If students choose finance management, their careers have a high scope. The curriculum involves the study of finances, financial planning, and controlling financial decisions.

By the end of the program, students will excel in mathematical calculations, leadership, communication, strategic thinking, and more. Some of the financial skills will include costing, budgeting, capital management, international finance, etc.

Topics that will be covered in Finance Management are:

Financial Risk Management	Fixed Income Markets
Portfolio Management	International Finance
Fundraising	Managerial Economics
Macro Economics	Business and Corporate Laws
Acquisitions and Merges	Corporate investment management
Bank Management	Treasury and Risk Management
Money and Banking	Trading Strategies

Finance Management Career Scope:

After completing an MBA degree in Finance Management, candidates can start their career in finance areas like:

Finance Ministry
Sales
Trading
Asset Management
Derivatives Structuring
Stock Marketing
Treasury
Corporate Banking
Credit List Management and more

Under this stream, candidates can expect an average starting salary package of INR 7 LPA. Accenture, TCS, HDFC Bank, EY, Axis Bank, etc., are some of the top recruiting companies.

MBA in Human Resource Management

Any business organization will need people, i.e., human power. So, human resource management will become essential in any industry. Pursuing an MBA in HRM will help candidates study people, employment management, and employers' responsibilities towards the organization.

The HRM curriculum involves recruiting, salary, benefits and increments, training, performance updates, employee safety, employee policy, employee health, as well as staff amenities.

Topics that will be covered in Human Resource Management:

Human Resource Management	Human Resource Development and Planning
Organizational Development and Change	Managerial Economics
Industrial Relations Management	Personnel Management Concepts
The Methodology of Training and Development	Management Laws
Compensation Management	Corporate Communication
Operations Management	Labour Laws

After completing an MBA degree in Human Resource Management, candidates can start their career in HR areas like:

Human Resource Generalist
Human Resource Manager
Technical Recruiter
Employee Relations Manager
Human Resource Entrepreneur
Labour Relations Manager
Non-Profit Human Resource Experts
Compensation or Benefit Analyst or Manager
Training and Development Coordinator or Manager
Staffing Director

The expected starting salary for HRM candidates is around 6 LPA. For senior-level HR managers, salaries can range from 7 to 10 LPA. Candidates can find job openings in many IT companies, advertising agencies, media houses, and more.

MBA in Marketing Management

Marketing management streams from various career paths, from consulting to entrepreneurial management. Some of the skills trained in the curriculum are consumer behaviour, cost volume and profit, market research, sales, advertising, promotion, branding, etc.

Topics that will be covered in Marketing Management:

Marketing Concepts	Marketing Ethics
Consumer Behavior	Business Communication
International Marketing	Industrial Marketing
Sales Forecasting	Economic Analysis
Customer Relationship Marketing	Business Management

After completing an MBA degree in Marketing Management, candidates can start their career in IB areas like:

Marketing Manager
Sales Manager
Asset Manager
Branding Manager
Media Planner
Public Relations Director
Product Manager
Head of Digital Marketing
Market Research Analyst
Corporate Sales

Candidates can find job opportunities in IT firms, advertising agencies, marketing companies, etc., with an average salary package of INR 7.5 LPA.

MBA in Operations Management

The curriculum will cover all business operations under operations management. Students will learn skills like good communication, customer handling, negotiations, etc., to grow in their careers.

Topics that will be covered in Operations Management:

Logistics	Supply chain Management
Operations Research	Inventory Control
Project Management	International Logistics
Marketing Management	Enterprise Resource Planning
Plant Design and Layout	Manufacturing Strategy

After completing an MBA degree in Operations Management, candidates can start their career in Operation areas like:

Marketing and sales
Logistics Information Systems
Inventory-Material Control
Import and Export
Transportation
Warehousing
Construction
Packaging
Financial Institutions
Information Technology

Students can get job opportunities in Fortune companies like ONGC, Blue Dart, GAIL, First Flight, and DAMCO. The average salary package while starting their career is INR 8 LPA.

MBA in Health Care and Hospital Management

In this MBA curriculum, candidates will learn to handle critical hospital issues and their administration. Students need skills like adaptability, leadership, quick thinking, ethical judgment, etc.

Topics that will be covered in health care and hospital management:

Health Service Management	Operations and Services Management
Medical Ethics Quality Management	Hospital Information
Medical Emergency Systems	Medical Tourism Financial
Financial and Costing Accounting for Hospitals	Healthcare Policies and Regulations

After completing an MBA degree in Health care and Hospital Management, candidates can start their career in Health care areas like:

Private Hospitals
Health Insurance Companies
Medical Colleges
Diagnostic Laboratory Chains
Pharmaceutical Companies
Medical Tourism Companies
Healthcare IT
Preventive and Social Healthcare Sectors
Market Research Organization
Primary Healthcare Chains

Eligible candidates can find job opportunities in the health industry, such as Fortis Healthcare Limited, Infosys, AIIMS, KMPG, Apollo Hospital, etc. In the beginning, candidates can expect a salary of INR 6.6 LPA.

MBA in Rural Management

Students will be involved in extensive experimental learning in rural management. They will need to teach skills like empathy, integrity, and commitment to work in this field, problem-solving skills, handling huge masses, and knowledge of the local language.

Topics that will be covered in Rural Management:

Natural Resources and Sustainability	Rural Livelihood and Research Methods
Development Theories and Practices	Agribusiness
Microfinance	Economic Analysis for Rural Management
Social Entrepreneurship	Legal Environment
Rural Infrastructure	Precision's farming and Horticulture

After completing an MBA degree in Rural Management, candidates can start their career in RM areas like:

Grameen Bank
NABARD Bank
Government-owned or sponsored Rural Development Projects
National or international NGO's
Microfinance
Agribusiness
Voluntary Groups
Insurance
Research Institute is conducting extensive research on rural areas.
Funding Agencies

Some good job opportunities will be with insurance companies, research and consulting firms, rural and agricultural financing, and banks. The starting salary package would be around 4 LPA.

MBA in International Business

Pursuing an MBA in IT streams is highly demanded. Students are required to have certain skills, such as global orientation, IT knowledge, problem-solving skills, analytical skills, and strategic thinking.

Topics that will be covered in International Business:

International Business Environment	Financial Management
Marketing Management	International Business Law
Global Financial Markets and Instruments	Management of a Multinational corporation
Foreign Trade and Policy	International Logistics Management
Global Marketing Management	Cross-Cultural Business Management

After completing an MBA degree in International Business, candidates can start their career in IB areas like:

International Finance
International Logistics
International Marketing
Foreign Exchange Management
Export and Import Management
Consultant for an International Organization
Management Analyst
International Banks
International Logistics Company
MNCs

IT candidates can get jobs from top companies like Credit Suisse, PepsiCo, Accenture, EY, Deutsche Bank, and GE. The expected salary package is nearly INR 5 LPA.

MBA in Tourism Management

Candidates with good negotiation and communication skills can opt for tourism management. Candidates will be introduced to different designation points, the hospitality industry, the history of tourism, and other relevant streams of tourism.

Topics that will be covered in tourism management:

World Geography	Travel and Transportation planning
The History of Tourism	Marketing Strategies
International Tourism and Trends	Organizational behavior
Human Resource Management	Travel Agency and Tour Operation Business
Hospitality, Hotel, and Hotelier Ing	Destination Planning and Management

After completing an MBA degree in Tourism Management, candidates can start their career in tourism areas like:

Tourism Departments
Travel Agencies
Tour Companies
Hospitality and Catering Industry
Hotel Industry
Travel and Tourism Colleges
International and National Food Chains
Airlines
Food Craft Institutes
Banks

Deserving candidates can get jobs in top companies like Thomas Cook, Yatra.com, Cox & Kings, TCI, Airlines, etc. The expected average salary at the start would be INR 5-10 LPA.

MBA in Information Technology

Aspirants taking up IT management specialization in the MBA program are expected to have certain skills in IT knowledge, global orientation, analytical skills, problem-solving skills, strategic thinking, etc.

Topics that will be covered in International Management:

Computer Security	Legal and Ethical Business Practices
Systems Analysis and Design	Database Management
Management of Information Systems	Financial Analysis for Technology Managers
Information Technology Infrastructure	Technology Entrepreneurship
E-Business	IT Consulting and Advisory Practice