If you’re a recent graduate and are looking for a master’s program to enrol in without interrupting your academic journey, then specialised master programs are for you. This article answers all your questions with regards to a specialised masters program concerning the different business functions.
What is a Specialised MBA?
A specialized business masters’ program is a focused specialized postgraduate degree in fields such as; finance, entrepreneurship, business innovation, marketing, accounting and supply chain management. Such programs have gained a lot of traction in recent years because they are pre-experienced programs and do not require a significant amount of work experience as part of the admission requirements. However, some amount of work experience is appreciated by the university to gauge an applicant’s ability to work and sometimes lead in teams. Several recent graduates are favouring such options which are more affordable and easier to gain admission into, in contrast to the more general MBA program which demands a higher GMAT score, work experience that demonstrates an applicant’s experience in leading a business project or function and significantly stronger SOPs and LORs.
Who Should Pursue Such A Program?
A specialized masters program in business should be a viable option for a recent graduate who is looking for a cheaper masters program compared to an MBA. However, they should ideally have some knowledge or interest in the specific field they are planning to pursue their masters in. Demonstrating a strong sense of purpose to pursue these types of master’s programs are key to writing a decent essay that clarifies your intention to pursue such a master degree.
A Few Types of SBMs and Schools Offering Them
London School of Business:
- Masters in Analytics and Management
- Masters in Financial Analysis
- Masters in Management
MIT Sloan School of Management:
- Master of Finance
- Masters of Business Analytics
- MSc in Accounting, Finance and Management
- MSc Marketing
- MSc Strategic Management
Owen Graduate School of Management (Vanderbilt University):
- MS Finance
- Master of Marketing
- Master of Accountancy
According to Sridhar Arcot, academic director of the Masters in Finance program at ESSEC, the employers have revealed that graduates of masters in finance are more equipped for the available jobs than the generalists. Since such programs allow the students to select their courses concerning the field they want to be employed in, they are better prepared when employed. Specialized Business Masters provide students to specialize in niche fields, giving them an edge over generalists who might not be technically equipped at that level but MBA programs across the world still have more recognition.
Now that we’ve informed you about what a specialised masters program is, you’re better positioned to plan your higher education goals. Remember that strong academic background, clearly written essays and excellent scores on any of the standard tests are imperative to getting into these programs.
All the best!