Newer specializations such as ERP, Data Sciences etc are emerging as the new winner in the field of specializations in management courses, but are it really worth?
Specialization such as Data Science and ERP had marked their presence in this ever-changing management education market. There’s been an explosion in specialized MBAs, aimed at a broad range of prospective students, in recent years. A specialization often appeals to candidates who have previous experience in a sector, or who are aiming for a particular career path. Students are becoming lean towards the new specializations as there is s a growing market for the same.
But, even in the current scenario general specializations observes a far great audience than the newer specializations, we, as a management aspirant know that HR, marketing and finance are always the evergreen specializations in the field of management degree (MBA/PGDM). There might be an upsurge in the demand in the market for the new specializations but very few corporate indulge in hiring the professionals with data science specializations or ERP specializations, but every corporate has a dedicated finance and marketing team and that’s a fact.
Key Differences Between the old and New Specializations-
Old- Old specializations goes a long way back 1900s, approx the time when the idea of a management degree designed in the United States, maybe the people who laid the foundation stone for the MBA observed the need of finance, marketing, HR, sales professionals in any of the corporate, that what pushed them to recognize the specialized field of MBA.
- Newer specializations don’t have 100 years of history, they only go back a few 20 years on the worldwide management scale, these specializations have emerged on the foothill of the boom in the IT sector that developed the need of specializations which will train a manager who is literate in technical and managerial areas.
- Corporate Popularity
- We all know that be it any company in any sector, FMCG, IT, Services, Consultancy, Education, etc, everyone has a dedicated team of at least HR and Marketing, although finance is the most popular corporate-friendly field.
- Corporate is in the process of functioning in the new research and development sectors but is not fully developed, so we can say that at this time at least 5-10 years of time frame will be needed for these specializations to be corporate-friendly.
- Institutions and Placement Offers
- Almost every top B-Schools and university offer the general specializations program and also some colleges of them are known for a good placement in certain fields such as IIM Kolkata is known for finance, XLRI Jamshedpur is known for HR, etc.
- Very few of the emerging specializations are inculcated in the curriculum of colleges, colleges such as symbiosis, etc are providing specializations in the emerging field of management, and also providing a decent pay package.
In a general point of view, it can be said that if one wants a safe, stable and secured placement and career they should opt for general specializations only, but if a management aspirant is focusing on the long run of career growth they can opt for the newer specializations of the management.
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