An MBA is a popular graduate management degree, and every year ambitious professionals from diverse backgrounds apply to this program in business schools around the world. An MBA degree makes you more marketable and helps you stand out to employers. It also makes you eligible for diverse roles in the industry.
A master’s in business administration helps increase your earning potential, boost your career prospects, grow your business knowledge, equip you with business acumen, broaden your professional network, and learn managerial or administrative skills.
An MBA program is usually a two-year-long degree offered by several colleges in the US. You can pursue this degree full-time, part-time, or online. Various universities offer specializations in MBA like MBA in finance, MBA in entrepreneurship, MBA in human resources, and more.
Many students, especially from non-business backgrounds, struggle to decide which type of MBA they should enroll in. There are various benefits of graduating with a specialized MBA, but a general MBA is a more practical choice. In this article, we are going to discuss some reasons that a general MBA is more practical than a specialization.
A general MBA degree has flexible courses, and it is designed to accommodate students who have other commitments like work with the school. Moreover, students have the freedom to choose their elective subjects from a list.
The admission requirements for a general MBA program are also flexible and only require a GMAT score and a compelling application. However, specialized MBA programs have many requirements like work experience for enrollment.
Diverse Career Opportunities
A general MBA program provides students with more career opportunities than a specialized MBA program. A general MBA has a broad scope and allows you to work in various job roles in different departments in the industry.
However, a specialized MBA has a narrow scope, and you can only work in a specific job role and department in the industry. For example, an MBA in human resources limits you to only the human resource department and restricts you from working in other fields like finance and administration.
A general MBA provides you with general administrative and business skills allowing you to apply to more job roles in the industry. Therefore, a general MBA provides you with more job opportunities.
In-depth Knowledge of Business and Management
A general MBA program helps develop advanced and flexible management and business skills. You learn the basics of all specialized MBA programs in a general MBA. For example, you are taught the fundamentals of finance, human resource, accounting, and more. Moreover, it teaches you the latest trends in international business and helps apply the latest techniques in management.
A general MBA degree provides you with different valuable skills that help you adapt to the changing business environment. Some of the most prominent skills that you will develop through a general MBA degree include;
The ability to manage difficult situations like financial crises by making tough decisions at the right time
- The skills to network and create beneficial partnerships
- Being able to advertise and sell products and services
- The ability to hire competent and talented individuals
- The ability to manage the finances of a company
A specialized MBA also instills different skills in you. However, the skill set you develop through a specialized MBA is not as broad as in general MBA.
Excellent Option for a Career Change
A general MBA is an excellent option for someone planning to switch their career pathway because it teaches the basics of business and management. Students from business backgrounds can easily pursue a specialized MBA as they are already familiar with the basics. However, students from non-business backgrounds must have a reason for switching their careers and pursuing a career pathway in business or management.
Professionals like doctors, engineers, and scientists often pursue a general MBA to transition to a managerial role within their company or start their own company/practice. According to US news, many MBA graduates claim that business school helped transform their careers.
Access to an Extensive Business Network
Students pursuing a specialized MBA have access to professors and professionals from that specific specialization. However, a general MBA provides you access to business professionals and professors from different specializations. For example, you can connect and learn about finance from a finance expert, or learn about IT management from an IT expert.
Networking can help enhance your business management skills. You can easily understand and solve different issues in the industry. Moreover, these connections also make you aware of the changing business environment and help you to adapt quickly. Access to the alumni network provides lifelong learning and networking opportunities. According to Bloomberg, the quality of your business network depends upon the business school that you attend.
The Bottom Line
An MBA is a popular graduate degree option pursued by students from business and non-business backgrounds. Several schools in the US offer specialized MBA degrees. Different specializations in MBA include human resource management, IT management, finance management, and more. A specialized MBA degree makes you eligible for work in a specialized area. However, a general MBA degree is more practical than a specialized MBA for various reasons. Some of the reasons are that a general MBA is a flexible course providing more career opportunities. It is an excellent degree program for a career switch. It provides access to a broad network of professionals from diverse fields, and a general MBA provides you with in-depth knowledge of business and management.