When you are enrolling in undergraduate school, you may have a very broad idea of what you would like to do in the future. As you start to learn about various topics when you take required courses, you may start to develop a passion for a specific field. All too often, undergraduates who are enrolled in a program will switch their majors because they finally identify where their strengths are and what they could potentially do for the rest of their lives. After you have earned your Bachelor’s degree, you will quickly find that pursuing an advanced degree is in your best interests. You may also discover that the major you chose in undergraduate school may not have been the best major based on career outlooks and future industry growth.
When you are pursuing an MBA, you should think about more than just what you enjoy doing, you should think about which industries and sectors are growing and where you will be able to benefit from job stability, high compensation, and advancement opportunities. If you are trying to pinpoint which MBA concentrations are best based on employment trends and expert projections, read on and learn what you need to know to make a smart decision for your future.
So Many MBA Concentrations to Choose From, But Not All Are Created Equally
If you sift through all of the reputable MBA degree programs that are offered by traditional and online schools, you will see that there are dozens and dozens of different specializations that you can choose from when you are enrolling in a program. There is no denying the fact that the labor market caters to applicants who have a specialized education that is relevant to the field in which they are applying. This same market caters more towards professionals who complete graduate school with a degree in a concentration that is high in demand and growing. Be sure not to choose a concentration that focuses on skills that are being replaced by technology or outsourced to other countries. When it comes to specialized education, not all concentrations are created equal. Here, we highlight some of the top MBA concentrations based on employment growth forecasts.
Information Technology Management
Virtually every aspect of business, and even many aspects of private life, revolve around Information Technology. By pursuing an MBA with a concentration in Information Technology Management, you can become a Director of IT or even a Chief Technology Officer and oversee a company’s technological development. Based on forecasts given by the Bureau of Labor Statistics, the need for information systems managers is expected to grow by 18% or more within the next decade. Not only is outlook great, the average salary as an experienced IT manager is $115,780 per year.
Health Services Management
There are a variety of different reasons why you should consider completing an MBA program with a concentration in Health Services Management. One reason is that the healthcare sector is growing rapidly, due to advances in medical technologies and the growing number of baby boomers. Another major reason why healthcare services and management are good fields to enter is because of the government reforms and how they are changing delivery of services. With an MBA in Health Services Management, you can compete for health services manager positions and executive positions once you gain experience. Demand in this position is growing, and the sector will grow by 18% or more by 2020.
Marketing
Computers may be able to replace many things, but they cannot replace the need for marketing managers and advertisers who are creative. If you want to enter the field of marketing and advertising, your goal will need to be to identify ways to give a company competitive advantages and how to increase sales and profitability. If you want to be a highly paid marketing manager, you will need an MBA so that you can be a talented and innovative leader in the field. An MBA with a concentration in Marketing will prepare you to compete in the emerging global economy.
There are plenty of concentrations to choose from, and some have better hopes for future growth than others. Make sure that you take time to decide what career you want to pursue, what the career outlook looks like, and which concentration will adequately prepare you to preform.
