Dual Specialization in MBA 2021: Important Scope & Benefits
26th December, 2020
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An MBA has been very popular among students who opt for MBA programs as Benefits of doing an MBA are just so many. However, even after choosing to do an MBA, one has to choose the right specialization. Well, what if I told you could choose to do TWO specializations or a dual specialization in MBA.
But, What is a dual MBA? Dual MBA specialization or an MBA program with dual specialization provides students with an opportunity to pursue two different areas in the management field. Through this, the student can showcase an array of skills and knowledge in various industry domains.
Annually, more than 3,60,000 students opt for an MBA but only 39% are deemed employable by companies. A great benefit of dual specialization in MBA is that students are increasing their chances of employability by doing a Dual specialization in MBA,
As the demand for an MBA has been increasing, there is now a wide range of subjects for students to choose from. The scope of a Dual specialization in MBA is vast, where everyone is looking for the best MBA with Dual Specialization.
These specializations are commonly referred to as concentrations or majors. Students have the option of choosing or opting for the combination of their choice in the second half of their program i.e. the second year in any traditional two-year MBA program.
About Dual Specialization In MBA
- A concentration or major would conventionally comprise of two or three different courses.
- These courses would be heavily focused on advanced topics or areas of business specializations like finance, accounting, or marketing.
- These concentration courses would be replaced by elective courses that students generally choose in the second year of their MBA program.
- These concentrations are generally fashioned in a manner so that they could imbibe within the student’s requisite skills and knowledge of that particular field.
- Students can opt for various options or concentrations which suits them the most depending upon their interests and inclinations, they can decide which is the best dual specialization in MBA for them.
Scope of Dual Specialization in MBA
As students, you would get to choose from a wide array of subjects, they can suit you the most according to your interests. Students can opt for two different specializations within a single tenure, giving the students a wider range of opportunities and career options.
- Value for Money: Scope of dual specializations in MBA is much wider and offers increased value for money.
- Higher Employer Demand: Students who acquire expertise in more than one field would be much sought after by the employers once they are done with their program.
- More Career Opportunities: Dual specialization graduates have a wider range of opportunities in various sectors, as studying more than one specialization; would make them eligible for a variety of roles offered in the corporates.
- Provides Versatility: a dual specialization MBA would widen the horizon for students by working in different sectors, performing multiple responsibilities and being more versatile.
- Competitive Edge: It provides an extra edge over other MBA graduates as it adds on to the benefits of doing an MBA.
Top 5 Benefits Of Dual Specialization in MBA
There are numerous benefits of dual MBA specialization that students are realizing gradually with time and are looking for the best dual MBA specialization. This is precisely the reason why it is becoming increasingly popular day by day. Let us have a look at a few of the dual Specialization MBA benefits-
1. Changing Market Trends
- Anyone with knowledge of market trends would be well aware that markets are not a static place but are a dynamic entity that is constantly evolving and changing in pace. Market trends change each day of the year. So in this constantly evolving space, it is more than necessary for candidates who are looking for jobs to be ready to fit into diversified roles. The dual MBA Specialization benefits lie in the diversity and security it offers even with changing job market trends.
- Constantly changing markets require new challenges each day and new effective ways of tackling them. To tackle different roles and situations effectively, one must be well equipped with a diverse and versatile pool of knowledge and skills. Dual specialization opportunities would provide you with a skill set much wider than the traditional MBA which would make you more adept at tackling the changing markets.
- More often than not one is required to take on more than one challenge at the time in the business world. This not only requires lots of patience but to master it candidates must also have the requisite soft skills set, which dual specialization would readily imbibe within them. It would also cut off the demand-supply gap within the industry and market.
2. Instills Job Security
- Owing to the CoVid-19 Pandemic, the economy has witnessed a downward turn as many sectors have witnessed a downward trend with job security becoming elusive. A new study by the Centre for Monitoring Indian Economy(CMIE) has stated that more than 18.9 million people belonging to the salaried class have lost their jobs in the period from April to July 2021. Most sectors from automobiles, tourism, and petroleum to hospitality have witnessed a downward trend.
- In these tough times, it becomes highly imperative to have job security. Another benefit of the dual MBA is that it provides students with versatility and a much wider pool of knowledge their demand in the corporate is expected to be much higher. Hence, jobs for them can never run out as students with a wider skill set, and knowledge can fit into various and diverse roles.
- An employee who holds expertise in two different skill sets, can take on various challenges head-on and effectively is a big asset for any corporation. Such employees will be valued much higher by the corporations and thus their jobs are relatively more secure. For instance, an HR manager who also has knowledge relating to finance would be much more valued.
3. More Growth Opportunities
- Dual MBA career growth opportunities are much more versatile and enhanced when compared to a traditional two-year program. Students with dual specialization would get more versatile roles incorporates, for instance, someone who holds a dual specialization has a wide scope, for eg. in marketing and operations can expect to get more important roles in both of these fields, not to mention the additional expertise in the other field.
- The opportunity for steady growth is great! Most companies would require people who are versatile and have a larger skill set at the top of their hierarchies. So they can expect to climb the corporate ladder more rapidly and steadily.
- Candidates reaping the benefits of dual specializations in MBA will have more employability than their counterparts with a traditional management degree, as most companies require people who can comfortably fit into multiple roles at any given point in time. People in managerial positions are expected to be multifaceted which can be achieved with Dual Specializations.
- Dual specializations in MBA lead to career paths that are not just limited to working in a corporate as an employee. Many people are zealous to carve their path to success, Dual specialization offers the best opportunities to such people.
- The most important requirement for an entrepreneur would be to have a thorough understanding of multiple departments or facets of a business, who would be better equipped for such a task who has been trained in more than one discipline professionally?
- Successful entrepreneurship would require one to fit in multiple roles that one can acquire through dual MBA career growth opportunities.
5. Career Shift
- Many people who start working after completing their MBA program tend to feel stuck in the type of job they are offered and wish to make a transition to some other sector or department. The vast opportunities and options in a Dual MBA career paths. In such scenarios, it could prove to be a hassle-free process for students who possess a dual MBA degree. As they hold expertise in two distinct fields they can expect to get a job in either one of them both.
- Moreover, many people get dissatisfied with their job profiles or the type of job they are offered, as it does not suit their interests. So the types of roles that you are offered tend to get limited with a traditional MBA program. However, it is not the case with a dual MBA program as the number of roles that would be on offer for you would be much more diverse leaving more options for you to choose from.
As we have learned about, various advantages of the dual MBA program, one can still ask the legitimate question as to “Do businesses or corporations prefer students with a dual MBA degree”? Interestingly, the answer to this question is complex and cannot be limited to a single answer.
Why Recruiters Hire MBA Graduates with a dual Specialization?
|Multiskilled||Candidates tend to acquire a much varied and complex skillset with a dual specialization in MBA as compared to other MBA programs, they can effectively face all the day to day challenges that are part of any business organization.|
|Flexibility||Studying in a dual MBA program students tend to acquire flexibility and are more susceptible to handling changes flexibly and conveniently.|
|Complex Thinking||The thought process and problem-solving skills of these students are considerably more complex than their regular MBA counterparts. This proves to be a much sought after capability in the business world.|
|Time Efficient||Perhaps no one understands the value of time more than a working professional. Students with a dual degree are trained to do more in less time.|
|Quick Problem Solving||Working in a competitive environment would throw different challenges at you regularly. One would need to master creative problem-solving techniques to effectively tackle them, which a dual MBA program would effectively train you for.|
|Handling Multiple Responsibilities||One would need to handle multiple and different responsibilities which could prove to be quite challenging for some, however, students trained in dual discipline would find it a cakewalk assuming such varied responsibilities.|
|Quick Decision Making||One is constantly expected to make important decisions relating to business and work when working in a managerial capacity. More often than not, employees tend to get confused and waste valuable time over such decisions. However, a dual degree would equip you to make such important decisions in a time-bound manner.|
Conclusion: An MBA with Dual Specialization is the Perfect Career Boost
As we have seen the benefits of a dual MBA degree are various as it offers job security with a steady path to success. It is a dynamic course whose popularity is steadily increasing over time. In addition to this, students would get a chance to pursue the discipline of their choice which they can also perfectly balance by opting for a much more practical choice.
Students must devote an adequate amount of time while forming their decision, as to which discipline would suit them the best, according to their interest and inclination coupled with the more pragmatic option.
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