Masters of Business Administration (MBA)
graduates have become an important part of every industry. With the growing
economy, we see MBA aspirants focusing on certain specialisations such as sales,
marketing, finance, operations, HR and so on. Certain candidates also opt to
pursue MBA with dual specialisation. Such degrees are offered by various B-Schools
and colleges across India
Some of the common dual specialisations taken
up by students are Marketing and Finance, Marketing and Operations, Marketing
and HR, Operations and Human Resource Management (HRM), HRM and IT, IT and
Marketing and so on.
Candidates can pursue dual MBA in full-time,
part-time, online, executive and correspondence modes.
Why is there a growing demand for dual
specialisations? What’s the market value and advantages of dual MBA specialisation? Is there
are cons to this?
Let us examine each factor in favour of specializations
in MBA individually.
1. Market
Benefits
As the market opens up, various industry requires
candidates with strong multitasking abilities. There’s a massive demand for
candidates who can fit into diversified roles with adequate efficiency. And an MBA
degree with dual specialisation solves this demand-supply gap.
One of the most popular dual specialisation
is Marketing and Finance. Both specialisations are integral part of the
industry. Various combinations of marketing, finance, human resources,
operations, strategy and IT are quite in demand.
2. Exposure
to New Topics
Dual specialisation means more exposure. And
more exposure leads to more knowledge. A student is able to tap in to vast domains
simultaneously. They develop distinct domain knowhow and perform different tasks
simultaneously with equal efficiency.
3. Placements
One of the biggest benefit is that
candidates are eligible to sit for various companies during placements. Knowledge
in two domains means you can apply for at least two kind of profiles.
3. Increased
Job Opportunities
Like placements, candidates benefit
tremendously with dual specialization in two different domains. So while
looking for employment opportunities, one can apply to a wide variety of roles.
4.
Career Shift
Another advantage of dual specialisation is
making a (comparatively) smooth career shift. For instance, one decides to pursue
MBA in Marketing and Finance. Thereafter, the candidates goes on to work in sale
and marketing domain. After a few years, candidates can make a shift to finance
domain. However it is not as easy as it sound. We’ll discuss it in the disadvantages
sections.
5.
Entrepreneurship
MBA in dual specialisation is especially
beneficial for new and existing entrepreneurs. As per their requirements, entrepreneurs
can opt to choose specialisations as per their business requirement. For
instance if the entrepreneur wants to keep the marketing and finance portfolios
or business intelligence and marketing with them, they can easily opt for dual
specialisation with the required specialisations.
6.
Wider Network
Networking is a valued skill in MBA. Companies
and recruiters expect MBA graduates to have a wide range of network for success
business transactions. Dual specialisation means a wider network from two
domains. That’s a hard skill to match.
Disadvantages
We listed five points in favour of dual
specialisation. While we do not discourage anyone to pursue MBA in dual
specialisation, it is not recommended by most recruiters and companies.
According to an HR manager at Accenture, “It
gives the impression that the aspirant is juggling two specialisations
simultaneously. They become the jack of two courses but master of none. We prefer hiring candidates with single
specialisation as this reflects focus and in-depth knowledge on the topic.”
It is assumed by some that dual MBA degrees
are too broad by nature. Lack of focus is one of the biggest arguments that
employers pit against dual specialisation. MBA graduates are expected to manage
a team and make informed decisions. They become future leaders, visionaries and
CEOs. Two specialisations enforces the ‘lack of focus’ perspective.
Dual specialisation also has a more challenging
and wide curriculum. Candidates need to juggle wie theories and different perspectives.
The study pressure is much higher. Many candidates end up confusing both the
streams.
However, if you are very sure of developing
skills in two domains and know you can use it to full potential, go ahead with
the course.
To solve this problem, B-School and MBA colleges
accept offer major and minor specialisations. In this, the students can take up
one specialisation as the major subject, pursue fewer credits in minor
specialisation.
According to another school of thought,
dual specialisation or single specialisation hardly affects the employment
prospective of the candidate. Employers are looking for certain skill sets and
they don’t care about the specialisation. So you have a sound background with
desired skills and confidence, you’ll be able to secure the job.
No matter what you decide to do, make sure
you are pursuing the dual MBA programme from a top institute. The reputation and education standard of
institute can directly affect your employment prospects.
Author
profile:
Ipsita Sarkar writes on MBA and B-Schools for Shiksha.com.
