Amid these business ‘new normals’, global b-schools have reset their agendas and curricula to offer tailored MBA programs— and specialist electives—for the 2024-26 batch.
Sometimes called ‘new age’, such specializations are designed to prepare students for bespoke roles that can meet the transformed business landscape and evolving management requirements. Take a dip into the new MBA specializations to find your best-fit degree.
Data analytics / data science
As a data analytics manager, you can influence your employer’s vital decision-making with accurate analytics. These MBA programs or specialisms help to develop students’ business intelligence, enabling them to help businesses or organizations to restore pre-pandemic normalcy pursue growth imaginatively with the help of data-driven insights.
Top colleges for data specialisms
All IIMs – some offer certificate and executive programs
⇨ IIT Mumbai, Delhi, Roorkee, Guwahati, Hyderabad, Chennai, Kanpur, Kharagpur
⇨ ISB Hyderabad
⇨ NMIMS Mumbai
⇨ SP Jain Institute Mumbai
⇨ Great Lakes Chennai
⇨ MICA Ahmedabad
Scores accepted – CAT, MAT, XAT, CMAT, NMAT, and a few others
Roles – Data scientist, data analytics manager, data analyst, business analyst, risk analyst
Fees – INR 300,000 – INR 2,400,000
Salary range – INR 600,000 (data analyst) – INR 2,000,000 (senior data scientist/analytics manager)
Top recruiting sectors – IT, tech, insurance, data management, research, retail and etail, fast-moving consumer goods (FMCG), government and more
International business
Global GDP contracted by 3.2% in 2020, spiked sharply by 6.1% in 2021, and again declined by 3.6% in 2022. This rollercoaster scenario around and after the pandemic has a direct bearing on the 2024 MBA aspirants focused on international business.
This specialization focuses on building skills that will lead to a career in global trade and business. Graduates might work at an Indian organization looking to grow globally, an international company wanting to break into India, or find themselves a role with a global company with presence in many countries and that needs graduates who understand different business environments and scenarios.
Which top colleges to apply to?
⇨ IIFT Delhi, Kolkata
⇨ NMIMS Mumbai
⇨ IIM Lucknow, Kolkata
⇨ Symbiosis (SIIB) Pune
⇨ IIMS Pune
⇨ IMS Ghaziabad, Noida
Scores accepted – CAT, MAT, GMAT, XAT, IIFT, and others
Roles International finance manager, international business manager, international marketing manager, CMO, export manager, and more
Fees – INR 50,000 – INR 850,000
Salary range – INR 600,000 – INR 2,700,000
Top sectors – Corporates, industry, logistics and supply chain, banking/financial services and insurance (BFSI), forex funds, currency, equity, and debt markets, even intercontinental NGOs.
Risk management
As they roll up their sleeves to bounce back after the pandemic, businesses will often have to take risks in more imaginative ways.
This MBA specialism helps graduates learn how to assess risks and threats to business, and understanding corporate governance and legal/ethical standards. Risk managers are crucial for helping organizations to assess business opportunities.
Where to apply
⇨ IIT Kanpur
⇨ Institute of Insurance and RISK Management Hyderabad
⇨ Global Risk Management Institute Gurgaon
⇨ Institute of Management and Research, Ghaziabad
⇨ ICFAI Business School Hyderabad and Dehradun
⇨ ISBM University Mumbai
Scores accepted – GMAT, CAT, MAT, and others
Roles Risk manager, risk surveyor, risk analyst, financial risk manager, CRO, even compliance and regulatory affairs risk manager.
Fees – INR 50,000 – INR 800,000
Salary – INR 480,000 – INR 1,200,000
Top sectors – Banking and financial sectors, insurance, regulatory and compliance, audit, consultancy, and others.
Operations
Pursuing an MBA or specialism in business operations or operations management prepares graduates to work within product development and production, budgeting, supply-chain management, quality control and managing inventories.
Since the pandemic and faced with ongoing geopolitical challenges, operations managers must confront demand spikes and slumps, balancing cost-to-capacity ratios, logistics and supply chain management, and inventory management.
Colleges to consider
⇨ IIMs Ahmedabad, Bengaluru, Kolkata
⇨ Symbiosis Pune
⇨ Symbiosis Institute of Operations Management Nashik
⇨ NMIMS Mumbai
⇨ Jamnalal Bajaj Mumbai
⇨ Faculty of Management Studies, Delhi University
Scores accepted – CAT, XMAT, XAT, MAT.
Roles - Operations manager, operations analyst, supply chain manager, plant manager.
Fees – INR 300,000 – INR 2,700,000
Salary – INR 300,000 – INR 3,000,000
Top sectors – Manufacturing, capital goods, transport and logistics, retail, and more.
Supply chain
As well as studying it as a part of a business operations specialism, there are MBAs that specialize in supply chain management.
Top colleges:
⇨ IIMs Bengaluru, Kolkata, Udaipur, Lucknow
⇨ XLRI Jamshedpur
⇨ School of Business, UPES Dehradun
⇨ BIMTECH Noida
⇨ Manipal Academy, Manipal
Scores accepted – CAT, XMAT, XAT, MAT.
Roles- Supply chain manager, operations manager, logistics manager, and more.
Fees – INR 60,000 – INR 2,500,000
Salary – INR 600,000 – INR 1,800,000
Top sectors to work in – Manufacturing, capital goods, transport and logistics, retail, and more.
Family business
KPMG Global reported that while 78% of family businesses experienced revenue slump during the pandemic, 17% reported topline growth. This paradox has a possible answer in an Emerald Insight survey that found that family managed businesses tended to remain more resilient and less susceptible to management challenges during momentous events such as pandemics.
This MBA specialism helps to bolster the skills of business students looking to enter a family business – whether this means bringing modern management acumen and skills to their family’s own venture, or to enter a family-run company.
Where to apply
⇨ IIM Bengaluru
⇨ SP Jain Mumbai
⇨ Great lakes Chennai
⇨ NMIMS Mumbai
⇨ Entrepreneurship Development Institute of India Gandhinagar
⇨ WE School (Wellingkar) Mumbai
Admission criteria – Minimum 50% in a graduate degree, prior work experience preferred
Job profiles: A managerial role with responsibilities spanning business planning, marketing, and skill development, among others
Fees – INR 30,000 – INR 1,000,000
Salary – INR 1,600,000 – INR. 2,000,000
Top sectors to work in – Business, industry, commerce, services.
Further emerging and promising MBA specialisms are rural management, agriculture, healthcare, hospitality, and digital transformation.
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