As you near the completion of your undergraduate degree, you will likely start to look towards the future again. If furthering your business education is next, you have a few decisions to make. Pursuing a Master’s Degree in Business means choosing an area to specialize in. You should familiarize yourself with the top concentrations before making your decision.
Management
There are several reasons that management is the most popular area of business specialization. The coursework will prepare you to supervise staff, make important decisions, and build a business plan. Not only can earning an online MBA in management provide you with a broad set of useful skills, but it can also lead to a bright financial future. It is one of the highest paying concentrations and can help open the door to leadership careers such as Chief Executive Officer or Vice President of Operations.
Marketing
Any company that is selling goods or services to consumers should have effective marketing to raise awareness and interest. Marketing is most commonly associated with advertising, but you will also learn about public relationships, social media, market research, and management practices. Graduates should be able to assess and adjust a company’s marketing to suit consumer trends. While there is still potential for earning a high salary with experience, many early career opportunities such as Marketing Director or Promotions Director start at a more moderate pay scale.
Entrepreneurship
Entrepreneurship degrees focus on the skills needed to build new ventures. You will learn to create a new business and expand an existing one. Courses cover topics such as innovative business planning and feasibility assessments. You’ll gain the knowledge to analyze and project the success of companies. If you use your degree to start your own business, your salary can vary greatly. Startups can be worthwhile, but they are risky and expensive. However, using your education for a leadership or consulting role yields a substantial, reliable salary.
Finance
Finances are an integral part of any successful business. Therefore, earning a finance MBA gives you highly relevant skills. You may learn about budgeting, analytics, economics, and taxation to predict financial outcomes. Career placement looks promising for graduates as opportunities are projected to grow nearly 20% over the next decade. Graduates will be able to pursue work in many sectors. Those jobs that are the most financially rewarding include Financial Director and Vice President of Finance.
Information Technology
In many ways, technology makes the world go round. It may come as no surprise that businesses have a high demand for tech specialists to integrate advances into everyday operations. In addition to standard business practices, you will learn topics such as information security and network administration. A technology degree helps to open the door to a variety of organizations. Information Technology Manager or Chief Technology Officer are just two examples of potential careers.
Earning your Master’s Degree in Business can provide many new opportunities. Each area of specialization has different benefits and skills, so take your time and select the one that’s best for you.
