Can’t decide if you should choose an MBA specialization? Abirami Iyer, a Texas McCombs student, has advice that can help. We spoke to her to help you better understand the relevance and impact of specializing in a specific area of business and dive into the pros and cons of MBA specialization.
Let’s begin with the obvious: an MBA is, by definition, a generalist program. It stands for a “Masters in Business Administration” and encompasses general business knowledge and skills needed to succeed in business. During the first part of any MBA program, your curriculum will usually involve fundamental business topics such as finance, business analytics, marketing, economics, organizational behavior, or leadership.
However, when you go into an MBA program, you generally have the option to choose between a general master of business administration or an MBA with a specialization (also known as concentration).
Some common examples of MBA specializations include marketing, finance, business management, or entrepreneurship. MBA specializations tailor your degree to a specific career niche. They require students to take courses in more specific business subjects beyond the core MBA curriculum.
In recent years, specializations have become more popular as business schools continue to expand their MBA concentration offerings. Certain schools even require a specialization, though that’s not the case at McCombs School of Business in Texas.
This is something that Abirami Iyer, one of Texas McCombs’ MBA students, definitely saw as an advantage. “They didn’t force me to pick a specialization as I was going in, and it offered a variety of courses,” she tells us (01:50).
The Full-Time MBA at McCombs School of Business consists of a two-year experience during which students can customize their curriculum with over 100 electives. So after students have completed their core classes, their curriculum is up to them. They are able to self-select more than 70% of their total coursework.
“What I’m looking forward to in my second year is the variety of classes that we get to take. In the first year, you kind of have a defined set of classes that you’re taking, which help give you foundational information. But in the second year, you really start picking your electives and start making the program a little bit your own. I’m excited about having that opportunity,” Abirami says. (02:22)
Additionally, Texas McCombs students also have the option to focus their coursework and pursue a specialization. Texas McCombs offers 23 concentrations, 14 of which are STEM certified. International students who graduate from a STEM-certified program can extend their Post-Completion Optional Practical Training (OPT) for an additional two years.
Abirami, however, thought it would be better not to choose a concentration. “I didn’t pick a specialization, and I don’t intend on it, because I think consulting requires you to have a wide variety of skills. I’m in it to explore different aspects and to find what area of business I like the most,” she explains (02:06)
The decision to choose an MBA specialization heavily depends on your specific career goals and the type of field you want to go into in your career. In this article, we’ll go over the benefits and drawbacks of choosing an MBA specialization, and what are some of the factors to consider when selecting a focus area that aligns with your career interests.
Pursuing an MBA specialization has many advantages for those who know what area they want to focus their careers on. If you have a clear career path, then an MBA specialization can help you build more robust expertise in that field.
Suppose you aspire to a specific management position, such as chief marketing officer, financial officer, or operations officer. Then, an MBA specializing in marketing, finance, or operations can make your CV more attractive than a general MBA. Similarly, if you dream of starting your own company, an MBA specialization in entrepreneurship might be a good career boost.
While it’s not the case at Texas McCombs, pursuing an MBA specialization can add coursework on top of your core MBA program But in today’s competitive job market, it can be a great asset to help you stand out from the crowd. Having an MBA specialization, internship, or extracurricular activities on your resume linked to a specific field shows recruiters that you have the exact set of skills they need.
While not taking a specialization, Abirami is enhancing her CV through club memberships. At UT Mcombs, there’s a club “for all the major industries that people are recruiting into. There is one for investment banking, there’s one for technology, there’s one for marketing. But the one obviously I’m most passionate about is the Consulting Group.” (8:34)
When you specialize, you also get to build relationships with people in your niche. Having the right connections in your niche network can be of great advantage in your career post-graduation.
All in all, the key advantage of an MBA specialization is that it allows you to customize your studies to fit your specific career goals and interests.
But what if you don’t have a clear preference for which business area you’d like to focus on? In that case, a more generalist path during your MBA might be the best choice for you.
While focusing on a specific business area can bring many opportunities, it can also be limiting. Specializing can mean losing sight of the big picture of the interconnected parts of business. Not choosing an MBA specialization leaves more paths open.
Not choosing an MBA specialization can make you more versatile, helping you connect the dots and adapt to change. Therefore, this might be a better decision for those who don’t want to stay in the same role for a long time.
Due to their multi-tasking and collaborative skills, generalists can gravitate more toward leadership, strategy, or consulting roles. If you can see yourself in any of these positions and recognize yourself as a person with a wide range of interests, this might be the better choice for you.
Remember that even if you decide not to pursue an MBA concentration, you can specialize through your work experience.
Overall, the decision to pursue an MBA specialization comes down to your interests and the career you want to pursue.
Earning an MBA specialization can help you become more competitive in the job market with in-depth topical knowledge. Alternatively, a generalist MBA can provide you with a more comprehensive business education and the opportunity to move between roles.
If you’re looking for a flexible curriculum that will offer you the chance to choose, consider McCombs School of Business. It is a world-class institution that allows you to customize your MBA program to a remarkable degree.
If you want a deeper insight into the Texas McCombs Full-Time MBA, you can contact Abirami or other Texas McCombs student ambassadors.
