While many professionals and entrepreneurs succeed without an MBA, the business environment is getting tougher. MBA provides professionals with leadership, decision-making, and strategic skills that are crucial to tackling market challenges. As the job market becomes increasingly competitive, the demand for the qualification will continue to rise.
Pursuing an MBA is one of the biggest investments of time and money that you can make, so making the right decision is important – but how do you to choose your specialisation?
Here are seven important considerations when choosing your MBA specialisation.
1. Ask yourself what you want to get out of the MBA
Establish the main reason you want to pursue your MBA. Your motivation may be that you want to fast track your career. Perhaps you’re considering a career change, and the MBA will advance your knowledge and boost your confidence. You may also be pursuing an MBA to help you move into another industry. Whatever it is, having a goal in mind will help you make a better decision in choosing your specialisation.
2. Pick a subject that interests you
Do what you love. It’s a cliché, but it’s a cliché that will help you do better in your career. Choose a specialisation that contains subjects that interest you the most.
3. Capitalise on your strengths
What if studying what you enjoy isn’t practical? Balance that out by finding out what your strengths are. Build on your strengths by choosing a specialisation that will sharpen your most useful capabilities.
4. Consider the job market
Mix passion with practicality by considering what’s highly valuable and most sought after in the job market. Check out both job and salary prospects. Knowing what’s out there will help you be more confident of your specialisation.
5. Want to emigrate? Consider industry demand
If you want a qualification that will take you places, some specialisations will do that more easily than others will. Some skills are in high demand but the country lacks citizens who can fill the vacancies. This is when they’ll start looking for talent outside their borders.
6. Get advice
If after considering all of the above and you’re still not sure, it’s time to talk it out with someone. Find the admissions, career, or education consultant and ask them everything you need to know to help you move on with your decision.
7. Ask questions
After you’ve come to decision about what your specialisation will be, do your research about the provider. Find out their reputation, their success rate, and the career paths of their graduates. If the answers match your goals, go for it!