MBA Specializations List: Best Course, In-Demand, Highest Paying, Fees and Scope

Updated on - Nov 15, 2024

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MBA specializations concentrate on the core areas of individual domains under management studies such as Marketing, Finance, HR, IT, Operations, etc. The first-year MBA syllabus is based on fundamental knowledge of management studies. It is from the second year onwards, that the students get to study subjects and core concepts based on their chosen specialization.

Different specializations in MBA are being offered by several top B-schools in India and the average MBA course fees range between INR 2 - 40 LPA depending on the academic structure and types of specialization. The MBA admission process depends on qualifying general eligibility criteria. A candidate is also required to qualify for MBA entrance exams such as CAT, MAT, CMAT, XAT, and GMAT.

MBA courses enable students to solely concentrate their studies on a specific area of interest and obtain the skills and expertise required to establish a career in that particular sector. Students with certain MBA specializations can acquire adequate career opportunities with an average salary in India ranging from INR 4 - 30 LPA.

Table of Contents

Top MBA Specializations in India
Dual Specialization in MBA
MBA Specializations in IIM
General MBA vs. Specialized MBA
MBA Specialization Jobs and Salary

Top MBA Specializations in India

Students can pursue different MBA courses being offered by several colleges in India, based on their choice of specialization. The following is the MBA specializations list in India, offered by various colleges across the country.

The following are the top MBA courses list and detailed information on MBA specializations in demand.

MBA Specializations	Top MBA Colleges	Average MBA Fees (in INR)
MBA in Marketing	IIMA, IIMB, SIBM, SPJIMR	2-12 LPA
MBA in Finance	IIM Kozhikode, Pondicherry University, IIM Bangalore	2-10 LPA
MBA in Operations Management	IIMA, XLRI, SPJIMR, IIT Delhi	3 - 27 LPA
MBA in HR	IIMA, IIMC, ISB&M, Xavier Institute of Social Service	5 - 20 LPA
MBA in IT	IIMA, IIMB, IIMC, NMIMS	1.3 - 25 LPA
MBA in Entrepreneurship	IIMB, XLRI, SPJIMR, SIBM	4 - 15 LPA
MBA in Supply Chain Management	IIMA, IIMB, SIBM, BHU, LIBA, JMI	1.5 - 16 LPA
MBA in Healthcare Management	IIMA, IIMB, SPJIMR, NMIMS, KIIT, DTU	3 - 24 LPA
MBA in Business Analytics	IIMB, IIMC, SIBM, SMS, SCMHRD, HITS	5 - 15 LPA

MBA in Marketing

MBA in Marketing encompasses comprehensive knowledge based on marketing strategies to sell goods and services. Students get to learn about different concepts such as advertising, branding, consumer behaviour, sales & distribution, product development, etc. Some of the key points of an MBA in Marketing are given below:

According to the IMARC Report, Indian Marketing Advertising will reach INR 1,412 billion by 2028, with a CAGR of 11.2%.
Candidates are required to meet the eligibility criteria by securing 45-50% marks in Bachelor's studies and qualifying for applicable MBA entrance exams such as CAT, MAT, and XAT.
The average course fee ranges between INR 2-12 LPA.
Students can acquire job opportunities in advertising, banking, retail, and tourism industries with career options such as Market Manager, Media Planner, Business Developer, Brand Manager, etc.
The average salary after completion of the course ranges between INR 5 -10 LPA.

MBA in Finance

MBA in Finance focuses on fundamental ideas of finance, accounting, and economics, as well as in-depth knowledge of financial planning, budgeting, forecasting, etc. Some of the key points of an MBA in Finance are given below:

The Indian financial business is developing at a consistent rate of 8.5% per year, resulting in a solid job market for graduates.
Candidates must meet the MBA qualifying requirements and pass the MBA entrance exams
The average course fee ranges between INR 2-10 LPA.
Job opportunities such as Financial Analyst, Finance Manager, and Business Analyst are available to graduates across various industries.
The average salary after course completion ranges between INR 3-15 LPA.

MBA in Operations Management

MBA in Operations Management aims to provide essential knowledge of product or service planning, organizing, and supervision of business operations along with in-depth learning of controlling production, operational planning, product design, etc. Some key points regarding an MBA in Operations Management are given below:

According to G2, the market for IT operations and service management is expected to grow by 7.5% by the end of 2025.
Candidates must fulfill the MBA prerequisites and pass the MBA entrance tests.
The average course fees range between INR 3 - 27 LPA.
Students can acquire Job opportunities such as Operations Manager, Operations Analyst, Management Consultant, etc after completing the course.
The average salary for jobs after MBA in operations management ranges from INR 3 to INR 27 LPA.

MBA in HR

MBA in HR focuses on delivering concepts based on organizational process, employee management, and recruitment, along with different theories based on Human Resource Management, HR planning, and strategic HRM. Some key points regarding MBA in HR are given below:

The human resource technology market was worth USD 23.32 billion in 2021, and it is expected to grow to USD 38.36 billion by 2030.
Candidates must satisfy the MBA eligibility standards and pass the MBA admission tests.
The average course fees range between INR 5 - 20 LPA.
HR Manager, HR Generalist, Assistant Human Resources Manager, and Human Resources Business Partner are different job opportunities available after course completion.
Graduates can earn an average salary ranging between INR 2 -10 LPA.

MBA in IT

MBA IT course covers a comprehensive understanding of information technology management and application in business processes. Students get to learn about Security Management, Data Analytics & science, and Management Information Systems. Some key points regarding MBA in IT are given below:

The Indian IT and business services market is expected to reach USD 19.93 billion by 2025.
Candidates must meet the MBA eligibility requirements and pass the MBA entrance examinations.
The average course fee ranges from INR 1.3 to 10 LPA.
Business Analyst, Project Manager, Senior Business Analyst, IT Manager, and IT Consultant are the several job opportunities that are available upon course completion.
Graduates can expect to earn an average salary of INR 3 -12 LPA.

MBA in Entrepreneurship

MBA Entrepreneurship focuses on entrepreneurship-related managerial activities. It provides students with essential skills in financial management, portfolio management for investors, risk assessment, market and competitor analysis, and other related fields. Some key points regarding MBA in Entrepreneurship are given below:

The demand for entrepreneurs is expected to grow 8% between the year 2018-2028.
Candidates must meet MBA eligibility standards and pass MBA entrance exams.
The average course fee ranges from INR 2 - 20 LPA.
Graduates can obtain career options such as Business Owners, Business Consultants, Business Developers, Startup Founders, Business Reporters, Fundraisers, etc.
Graduates can expect to earn between INR 4 to 25 LPA.

MBA in Supply Chain Management

MBA in Supply Chain Management course deals with goods handling, client relationships management, maintaining effective communication among management tiers, procurement, etc. Some key points regarding MBA in SCM are given below:

According to Statista, the manufacturing industry's annual production growth rate is expected to grow at a rate of 14.86% in 2024.
Candidates must meet the MBA eligibility requirements and pass certain MBA entrance examinations.
The average course fee ranges from INR 3 - 24 LPA.
Job opportunities such as Supply Chain Manager, Brand Manager, Procurement Manager, Purchasing Manager, and Procurement Officer are available after completion of the course.
Graduates can earn an average salary ranging between INR 7 -15 LPA.

MBA in Healthcare Management

MBA Healthcare Management aims to deliver fundamentals of managing day-to-day activities in healthcare industries. Students get in-depth knowledge of hospital administration, pharmaceutical management, Healthcare Policies and Regulations, etc. Some key points regarding MBA in Healthcare Management are given below:

According to government data, India's healthcare sector has grown at a compound annual growth rate of more than 22% since 2016.
Candidates must meet the MBA eligibility standards as well as pass specific MBA entrance exams.
The average course fee ranges between INR 1.5 - 16 LPA.
Students can acquire job opportunities such as Hospital Administrator, Healthcare Manager, Facilities Director, Administrative Officer, etc after completing the course.
Graduates can earn an average salary ranging between INR 5 - 12 LPA.

MBA in Business Analytics

MBA in Business Analytics provides the core functionalities of data analytics and its application in business operations for undertaking rational decision-making. Students get to learn about big data, descriptive & predictive analytics, neural networks, deep learning, etc. Some key points regarding MBA in Business Analytics are given below:

The analytics market around the world is expected to grow at a CAGR of 24.17% between the years 2024-2031.
Candidates must meet MBA eligibility standards and pass MBA entrance exams.
The average course fee ranges between INR 5 - 15 LPA.
Business Analyst, Digital Marketing Manager, Business Development Analyst, and Business Consultant are the several career opportunities that are available upon course completion.
Graduates can earn an average salary ranging between INR 5 - 7 LPA.

Also Read: Highest Paying MBA Specializations in India

Other MBA Specializations in India

Other than the above-mentioned popular specialisations, students can also refer to the table below for other MBA specializations offered by colleges in India.

MBA Specializations	Top Colleges	Average Fees
MBA in International Business	IIFT, Chandigarh University, Amity University, Christ University	INR 25,000 - 8 LPA
MBA in Retail Management	Welingkar College, Amity University, Parul University, BIMTECH	INR 70,000-7 LPA
MBA in Banking & Finance	Utkal University, Jain University, SSBF, SRMIM	INR 35,000-5 LPA
MBA in Digital Marketing	Maharastra State Skills University, Parul University, SRMU, Chandigarh University	INR 50,000-4 LPA
MBA in Data Science	IIM B, NMIMS, Amity University, SRMU	INR 1-15 LPA
MBA in Pharmaceutical Management	NIPER, Jamia Hamdard, Panjab University, DPSRU	INR 2 - 16 LPA
MBA in Data Analytics	Pondicherry University, Amity University, CU, IILM	INR 1 - 11 LPA
MBA in Project Management	KCT Business School, Alagappa University, Manipal University, PIBM	INR 1 - 5 LPA
MBA in Biotechnology	Amity University, AIITM, Shoolini University, DY Patil University	INR 1.2-3.75 LPA
MBA in Aviation Management	DYPSUM, Jain University, Srinivas University, UPES	INR 1 to 8 LPA
MBA in Hotel Management	Srinivas University, SKU University, Integral University, JLU	INR 60,000-4 LPA
MBA in Hospital Administration	IIM Bodh Gaya, IIHMR, ICFAI, Amity University	INR 33,000 PA - 5.25 LPA
MBA in Design Management	MITID, NID, IITB, INIFD	INR 1-7 LPA
MBA in Communication Management	SIU, SSMC, CEPT, JMI	INR 3 - 8 LPA
MBA in Capital Market	NMIMS, ICFAI, Amity University, St. Xavier’s	INR 1 - 10 LPA
MBA in Power Management	NIT, UPES, IIT Madras, XIME	INR 1 - 15 LPA
MBA in Port and Shipping Management	MITSOM, UPES, IMU, AMET	INR 1.80 - 6 LPA
MBA in Media and Entertainment	UPES, MICA, Amity University, BIMTECH	INR 1 - 10 LPA
MBA in Environmental Management	IIHMR, DU, SIMS, IITD	INR 3 - 5 LPA
MBA in Consultancy Management	SPJIMR, BITS Pilani, NITIE, IIM Indore	INR 1- 7 LPA
MBA in Sustainability Management	IIFT, FMS, XIMB, Presidency University	INR 50,000- 5 LPA
MBA in Oil and Gas Management	SPJIMR, UPES, AMET, IIFT	INR 1-10 LPA
MBA in Media Management	IIM Indore, JMI, NMIMS, UPES	INR 4 - 15 LPA
MBA in Material Management	IIMA, IIMB, IIMC, SIBM	INR 50,000 - 10 LPA
MBA in Foreign Trade	XIMB, IIFT, MICA, IBS	INR 3 - 5 LPA
MBA in Airport Management	IIMA, IIMB, IIMC, IITD	INR 1 - 12 LPA
MBA in Strategic Management	IIT Kanpur, XIME, IIMC, IMI	INR 92,000 - 15 LPA
MBA in Rural Management	IIHMR, SIMS, IIMB, IITD	INR 1 - 20 LPA
MBA in Interior Designing	SPJIMR, NMIMS, IITD, JMI	INR 1.5 - 16 LPA
MBA in Fashion Management	NIMS, IIFT, Jaipur University	INR 50,000 - 5 LPA
MBA in Banking	IIMA, IIMB, IIMC, IITK	INR 3 - 12 LPA
MBA in Tourism and Hospitality Management	IMS, JMI, AMU, IMI	INR 4 - 10 LPA
MBA in Tourism	SPJIMR, IIMB, SIBM, IIFT	INR 3 - 12 LPA
MBA in Technology Management	NMIMS, IBMR, IMT, Chandigarh University	INR 50,000 - INR 8 LPA
MBA in Systems Management	IIMC, XLRI, SIBM, JMI	INR 3 - 10 LPA
MBA in Real Estate	IIFT, FMS, IITD, SPJIMR	INR 3 - 15 LPA
MBA Agribusiness	IIMA, SCIT, KIIT, NMIMS	INR 85,000 to 6 LPA
MBA in Travel and Tourism	Amity University, BIMT, LPU, IMI	INR 1 - 15 LPA
MBA in Finance and Marketing	DU, JMI, IITD, SIBM	INR 12,000 - 12 LPA
MBA in Fashion Designing	MITID, SIBM, JD Institute, Amity University	INR 1 - 6 LPA
MBA in Sales and Marketing	IIML, NMIMS, SPJIMR, IITD	INR 5 - 15 LPA
MBA in Hospitality Management	IIT Kharagpur, JIMS, IHM, UEM	INR 3 - 6 LPA
MBA in Event Management	IIFT, NIMS, MITWPU, IIEM	INR 2 - 12 Lakhs
MBA in Construction Management	KIIT, MIT, NMIMS, VIT	INR 50,000 - 12 LPA
MBA in Sports Management	SPJIMR, SIBM, IMI, IMT	INR 60,000 - 8 LPA
MBA in Product Management	ISBR, TAPMI, SIBM, LPU	INR 15,000 - 15 LPA
MBA in Marketing Management	UPES, PIMR, Sharda University, Annamalai University	INR 2 - 10 LPA
MBA in Hospital and Healthcare Management	IIM Bodhgaya, SIHS, SRM, LPU	INR 2-8 LPA
MBA Financial Management	IIMB, IIMC, SPJIMR, AMU	INR 1.7 - 10 LPA
MBA in Logistics and Supply Chain Management	IIMA, IIMC, IIMI, UPES	INR 60,000 - 12 LPA.
MBA in Hospital Management	IIMA, IIM Bodh Gaya, SRM, IIHMR	INR 2 - 10 LPA
MBA in E-Commerce	IIMB, VIT, SSIM, SIIB	INR 50,000 - 10 LPA
MBA in Energy Management	SIIB, NIT, MITWPU, NITIE	INR 1 - 5 LPA
MBA in Logistics Management	IIMA, IIMB, IIMC, IITD	INR 3 - 12 LPA
MBA in Risk Management	AMU, BHU, IIRM, ABS	INR 50,000 - 5 LPA
MBA in Safety Management	IHSM, NIEM, IIPHS	INR 40,000 - 10 LPA
MBA in Business Law	NMIMS, IIT Kharagpur, UPES	INR 8 - 13 LPA
MBA in Information Systems	SPJIMR, SIU, NMIMS, VIT	INR 5 - 10 LPA
MBA in Production and Operations Management	LSR, MNIT, VELS, IMIT	INR 1 - 10 LPA
MBA in Rural Development	UPES, KIIT, ITS, PIMS	INR 50,000 - 5 LPA
MBA in Textile Management	IIFT, DIFT, IIFA, IBMS	INR 1- 4 LPA
MBA in Business Economics	IIMA, FMS, IMI, IIT Kharagpur	INR 5 - 20 LPA
MBA in Infrastructure Management	SIBM, UPES, NICMAR, Punjab University	INR 1.5 to 15 LPA
MBA in Industrial Management	NITIE, IIMT, SIU, BHU	INR 3.5 - 5.5 LPA
MBA in Actuarial Science	PAHERU, KARE	INR 40,000 - 1 LPA
MBA in Defence Management	DIMR, BKSPMS, Hindustan University, IBMR	INR 40,000 - 1.92 LPA
MBA in Production Management	PIMR, IIPM, Arunodaya University, RJSMS	INR 2.5 - 22 LPA
MBA in Service Management	RAPIM, MDSU, Kurukshetra University, ICMS	INR 25,000 - 1.25 LPA
MBA in Telecom Management	SIDTM, Amity University, DMS IIT, University of Technology	INR 1 - 5 LPA
MBA in Airline Management	HITS, ICRI, HBS, ILAM	INR 1 - 5 LPA
MBA in Data Science and Data Analytics	IIM C, IIT K, Great Lakes, KIIT University	INR 2 - 5 LPA
MBA in Statistics	BHU, AMU, Amity University, Mumbai University	INR 5 - 10 LPA
MBA in Business Management	IIT K, Annamalai University, St. Xaviers School, IISWBM	INR 50,000 - 9 LPA
MBA in Computer Science	DAVV, IIT, MIIT, NIBM	INR 3 - 7 LPA

How to Decide on the Right MBA Specialization?

Students can choose a specialization based on their preferences, interests, and career choices. Below are the pointers that explain how to choose the right MBA specialization.

Industry-Oriented Training: MBA students acquire holistic knowledge of different areas of management in their first year and they can choose the specialization based on the interest they have gathered in a particular area.
Versatile Learning: Aspirants can choose the specialization based on the areas of recruitment offered upon course completion. Working professionals can choose their specialization based on their previously employed sector.
College Rank: Several private and government-based ranking institutions rank MBA colleges such as NRIF, and Times Higher Education depending on academic structures, amenities, placements, etc. Admission to a good MBA college can boost career growth.
Strengths and Interests: Students should do a SWOT analysis to determine which MBA specialization will be suitable for their career.
ROI Analyze: It is recommended to analyze the ROI based on parameters such as placement, salary package, and placement partners.

What are the Benefits of MBA Specializations?

Each MBA Specialization provides unique course outcomes that help to establish adequate career excellence. The pointers below signify the MBA Specialization benefits.

Industry-Specific Knowledge: MBA Specialization is the combination of management studies covered in general MBA courses along with specialized and advanced insight into the specific area of management and business process.
Dynamic career opportunities: Expertise in a specific area of management gives a competitive advantage for acquiring certain industry-based job opportunities and also enhances the potentiality of establishing strong career prospects.
Specialized Skills: An MBA Specialization helps to build the critical, analytical, and leadership skills required to excel in the industry.
Contemporary Insight: MBA Specialization is designed to provide holistic knowledge of chosen domains as per current business trends.
Industry Demand: MBA Specializations give options to choose subjects as per rising demand in the industry, helping them to obtain career opportunities in the demanding sectors.
Job Security: MBA Specializations equip additional skill sets to lower the chances of failing in your career as students get to acquire multiple knowledge of different subject matter.

Also, Check: Why MBA? Top Reasons to Pursue an MBA

Dual Specialization in MBA

Dual Specialization in MBA is a combination of two specializations in the second year with general management studies in the first year. Students can choose specializations in different areas of management. Some of the key information regarding Dual Specialization in MBA are given below:

The curriculum is versatile and students get to learn different subject matter, helping them with dynamic career opportunities.
NMIMS, BML Munjal University, IMED Pune, JGBS offers courses with Dual Specialization in MBA
Aspirants are required to have 50% in their undergraduate studies from a recognized board/university.

Different Dual Specialization in MBA

The following MBA courses list and details regarding other types of MBA specializations in India, offered in dual degree programs.

Finance and Marketing	Marketing and Operations Management
HR and Operation Management	Accounting and Taxation
Business Analytics and Operation Management	Marketing and Analytics
Business Analytics and Finance	Cybersecurity and Logistics

Read More: Dual Specialization in MBA

MBA Specializations in IIM

IIMs are widely known for best MBA courses and having excellent academic structure for top MBA specialization courses. Candidates are required to qualify for MBA entrance exams for admission to these courses. The table below represents the top IIMs for MBA specializations along with their average fees.

IIMs	MBA Specialization	Average Fees
IIM Bangalore	Entrepreneurship, Public Policy, Supply Chain Management, Business Analytics	INR 24.5 Lakhs
IIM Ahmedabad	Finance and Accounting, HR, Marketing, Operations Management	INR 30 Lakhs
IIM Calcutta	Marketing, Operations Management, Production, HR	INR 24 Lakhs
IIM Lucknow	Sustainable Management, Agri-Business Management, Entrepreneurship	INR 19.2 Lakhs
IIM Indore	Finance and Accounting, Marketing, Operations Management, Strategic Management	INR 21 Lakhs
IIM Udaipur	Finance & Accounting, Marketing, Information Systems, Operations Management	INR 20.4 Lakhs

General MBA vs. Specialized MBA

The following table represents the key difference between general and specialized MBA

Parameters	General MBA	Specialized MBA
Duration	2 years	2 years
Subjects	Overall Management-Based Subjects - Accounting, Statistics, Financial Management, Marketing Management, Strategic Management	Specialized Subjects - HR Planning, Marketing Communication, Production Management, Risk Management
Salary	INR 2- 20 LPA	INR 4 - 30 LPA
Benefits	Holistic Knowledge of management Basic Ideas of Business Administration	Advanced knowledge in a specific domain of management Competitive advantage
Drawbacks	Lesser specialized career opportunities Lack of in-depth knowledge in specific areas	Fewer Colleges Not having sufficient knowledge in other domains.

Read More: General MBA vs. Specialized MBA

MBA Specialization Jobs and Salary

Each MBA Specialization provides a unique job scope and career growth as the candidates get to obtain specialized expertise in distinctive areas. Students can obtain job opportunities in various sectors such as banking & finance, IT, consultancy, manufacturing, healthcare, etc. The salary ranges between INR 4 -30 LPA and differs depending on specialization and industry demand. Detailed information on MBA specialization-wise jobs are given below along with respective salary packages.

Highest Paying MBA Specialization in India

Each specialization has different demands in the industry. MBA in Finance is considered the best MBA specialization in India for providing lucrative job prospects. The following is the MBA specializations list along with the compensation package.

Specialization	Average Salary	Highest Salary
MBA in Business Analytics	INR 7 LPA	INR 25 LPA
MBA in Finance	INR 9 LPA	INR 20 LPA
MBA in Marketing	INR 6 LPA	INR 30 LPA
MBA in International Business	INR 6 LPA	INR 27 LPA
MBA in Data Analytics	INR 12 LPA	INR 24 LPA

Top Recruiters for MBA Specialization

The following are the recruiting companies for top MBA specializations along with their average salary.

Specialization	Top Recruiters	Average Salary
MBA in Marketing	Unilever, Pepsico, TCS, Reliance, ITC, Nestle, Wipro, Kellogg	INR 6 - 30 LPA
MBA in Finance	Goldman Sachs, Morgan Stanley, JP Morgan, Boston Consulting	INR 8 - 20 LPA
MBA in Operations	Deloitte, McKinsey, Amazon, PwC, Wipro, Apple, Google	INR 5 - 20 LPA
MBA in HR	Deloitte, Infosys, KPMG, Accenture, JP Morgan	INR 4 - 15 LPA
MBA in IT	Deloitte, Accenture, McKinsey, IBM, Apple	INR 4 - 30 LPA
MBA in Entrepreneurship	Amazon, Deloitte, Apple, Accenture	INR 5 - 20 LPA

Selecting the MBA specialization is very crucial for the candidates as it decides their entire career. Different specializations offer different placements, salary package, and companies.