Most of the MBA students are in a spot of bother when it comes to choosing the right path for them. By the end of first year you decide your specialization. You choose your subjects, and work hard to score well. But then how sure are you about the industry applicability of what you have learnt?
Having the right perspective behind selecting your subjects and your specialization is a must. How do you get that? By knowing the different areas of work in your domain, and the responsibilities that these areas of work entail. Here is a brief on some of the most in-demand job prospects with respect to each specialization.
I. Brand Manager – Choosing crucial marketing strategies and tactics to make the brand, a success. Competitor analysis, market research, product positioning, promotions, customer segmentation are the key areas of work for a brand manager.
II. Sales Manager – To develop and lead a team of sales representatives focused on meeting the sales target and business development. Territory management, Sales pipeline management, recruitment, reporting are the areas of concern.
III. Market Research Analyst – Owning a research project end-to-end right from devising the research plan and its objectives to collecting the apt data to analyzing it to formulating data driven insights for marketing and sales department to act upon. Techniques learned in Business Research Methodology prove indispensable here.
IV. Product Manager – To oversee the success and profitability of a product line. Developing effective go-to-market strategies, understanding market requirements, devise and execute the marketing plan for the product. Marketing Communications is the key area of interest here.
I. Investment Banker – To raise capital for clients who can be both private and government companies. Subjects like Investment Banking, Mergers and Acquisitions, Capital Markets, Basics of Financial Management and Corporate Finance are key.
II. Credit Manager – Make decisions regarding credit limits, credit policies, overview lending applications, disbursements. They are employed with large banks or credit departments of large corporations. Accounting, Auditing, Macro and Micro Economics, Risk Management are key areas.
III. Risk Manager – Depending on the area like enterprise risk, corporate governance, regulatory and operational risk, information and security risk, Risk managers’ primarily responsibility lies in identifying potential risks and devising the mitigation plan. Statistics, Enterprise Risk management, Business Finance and Accounting are the concerned subjects.
IV. Financial Analyst – Equity analysis, securities analysis, research analysis, rating analysis are some of the key domains where financial analyst work. They also give valuable recommendations based on the analysis for making key strategic financial decisions by internal and external stakeholders.
3. Human resources
I. Recruiter – Developing job descriptions, preparing job advertisements, scrutinizing applications, shortlisting and interviewing candidates. Recruitment and Selection, HRM, Organizational Behavior are the key subjects.
II. Corporate Trainer – To develop the skills of the employees by delivering trainings on soft skills, people skills, or technical skills. The focus is to induce efficiency and effectiveness and increase employee productivity to justify the investments in training. Training and Development, HRM, Organizational Behavior are the key subjects.
III. Compensation and Benefits – To organize and manage the benefits and rewards that should be awarded to the employees of the organization. This also includes devising salary structure so as to benefit the employees as well as the organization. Compensation and Benefits, HRM are the key subjects.
IV. Employee Relations – To understand the rights of the employee and come-up with strategies to strengthen employee relations with the company. Labor Laws, HRM are the subjects of interest.
I. Supply Chain Manager – To optimize the investment and movement of raw materials, unfinished goods, and finished goods from point of origin to point of consumption. This chain of movement of goods is called supply chain and a supply chain manager is responsible for its designing, planning, execution, control, and monitoring. Supply Chain Management and Operations management are the related subjects.
II. Logistics Manager – To strategize the storage, distribution and transportation of goods, at the right place on the right time and at the right cost. The position of logistics manager can be broken into three main areas: warehousing goods, moving goods, and managing staff. Logistics Management and Operations management are the related subjects.
III. Operations Consultant – To recommend operational changes for optimizing the supply chain, sourcing, logistics. Operations consultant rely on their strong IT knowhow and bring in technology to make revolutionary changes in the operations department which also requires huge investments. Logistics Management, Operations Management, Supply Chain management, Total Quality Management, Lean Six Sigma are the related subjects.
5. Information Technology
I. IT Business Analyst – Combination of technical and business processes knowhow enables an IT business Analyst to evaluate the business processes of the client and to recommend the right IT solution for it. Business Process Reengineering and Business Intelligence are the subjects of interest
II. IT Project Manager – To manage a project end to end right from planning for resources, timelines, scope of work, and budget. This should be in accordance with the project goal. It also involves tracking the execution against each planned area and execute correction strategies in case of any deviation. Enterprise Resource Planning along with substantial IT experience are the key areas to succeed.
III. Business Development – To work on proposals for upcoming project wins. To prepare commercials, solution designing, statement of work etc. Business Communication, Technology based Operations Management are the key areas.
The mentioned job profiles are a good mix of entry and mid-managerial roles. The experience required to grab these roles can vary with the company and your MBA College. However it gives you a fair idea to decide where you want to see yourself working and where not. Choose your specialization and your subjects wisely. All the Best!