Top 10 Benefits of Dual Specialization in MBA

What is a Dual Specialization MBA Program?

When a student has a choice to choose two discrete specializations during the same tenure of an MBA, it’s called a dual specialization. It may very well be that one of them is major and the other is minor or they may be of equal weight. But in most dual specialization MBA courses, both carry equal weight with a full curriculum for each being taught. By the end of your MBA, you will be equally competent in both specializations.

In the world of business, the more versatile you are, the better the opportunities you are likely to get. Dual specialization brings this advantage to you. What people should realize is that these courses can help not only in getting jobs but also in becoming an entrepreneur. There’s a balance between theoretical knowledge, practical experience and personal development. You are equipped with the knowledge and experiences you can use for your professional advancement.

Dual specialization was not so common a few years ago, but the trend changed. The market needed people with versatility and more and more domains were merged in the dual specialization. These specialization combinations are two courses that complement each other well, allowing the students to become well-rounded professionals who know more than one domain. So, if you are serious about your career, you should consider a dual specialization.

You may want to read also, MBA Trends To Watch Out For In 2019

MBA Dual Specialization Combinations

Candidates can pursue MBA dual specialization in different modes i.e. full-time, part-time, online, executive, and correspondence. 

Best MBA major and minor combinations for dual specializations available:

• Accounting and Finance
• Accounting and Taxation
• Analytics and Finance
• Analytics and Marketing
• Analytics and Accounting
• Cybersecurity and Logistics
• Human Resource Management and Organizational Leadership
• Marketing and Finance
• Marketing and Operations Management
• Marketing and Human Resource Management
• Operations and Human Resource Management

Top 10 Benefits of Dual Specialization in MBA

The demand for dual specialization has spiked in recent years. Students have begun realizing the many benefits of dual specialization. There’s a clear advantage dual specialization has over a regular MBA. Therefore, there’s going to be a steady rise in demand for dual specialization. Here are the advantages of dual-specialization MBAs:

1. Market Trends

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The market is shifting constantly. When you have one specialization, you may fall into the trap of market hampering your chances as one sector may go down, but at the same time, another one might not. You can choose your specializations strategically so that you take the most advantage of these marketing trends.

2. Job Security

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When you are skilled in more things, it is a loss for an employer to fire you. Besides, an employee ardent in two skill sets is an asset to the organization.

Opting for two specializations helps you get the best of two worlds. You can choose your favourite career path and still use the knowledge of other fields to enhance your work performance.

For example, an HR manager with skills in finance will be much better equipped to handle the payroll and salary system than one who isn’t.

3. Wide Range of Opportunities

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With new domains and areas coming up, there is a dire need for management professionals across all sectors. Companies need strategists, managers and decision-makers higher in the hierarchy. And who is better suited to this than B-School pass-outs?

Dual specialization just improves your chances of getting more versatile roles.

4. Networking

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In college itself, you get to study with people with different specializations. You make projects and case studies with different people. During the internship, meeting different people makes your network bigger and stronger.

5. Become an Entrepreneur

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When you understand different parts of a business, it is easier for you to start your own business. You will be more than ready to tackle the challenges you face in your own business. Because you understand the limitations and strengths of each aspect.

6. Career Shift

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It can be applied anywhere. When you are good at one thing. You are confident that you can excel at another. That’s why preparing for two domains and getting cleared through it makes you believe in yourself. So much so that you can easily make career shifts when you see the opportunity.

7. Enhances Managerial Skills:

Pursuing an MBA dual specialization contributes significantly to the enhancement of managerial skills. Students learn to absorb and apply managerial concepts, fostering a heightened focus on exploring and extracting new information. This dual knowledge approach empowers graduates to navigate diverse management areas, honing their problem-solving prowess for success.

8. Adaptability in Career Shift:

Opting for an MBA dual specialization opens up numerous growth prospects, offering a wealth of choices to apply knowledge and expertise in two domains. The program facilitates the development of skills that enable students to excel in various job-related responsibilities. As a result, individuals become adept at seamlessly adapting to career switches, leveraging their diversified skill set when presented with diverse opportunities.

9. Increased Earning Potential:

Arguably the most significant advantage of obtaining an MBA degree is the substantial increase in earning potential. Whether through a salary raise in a current role or securing a new, higher-level job, MBA graduates consistently earn higher incomes compared to those holding only a bachelor’s degree. The program serves as a valuable investment in one’s professional future, reaping financial rewards throughout a career.

10. Comprehensive Business Knowledge:

What distinguishes a master’s degree from a graduate certificate is the depth and breadth of knowledge acquired in a specific field. A Master of Business Administration, with its comprehensive curriculum, ensures a thorough understanding of various business domains. Students delve into subjects such as accounting, economics, finance, leadership, operations management, business analytics, information technology, and marketing. This diverse learning equips individuals to become reliable, adaptable, and successful business leaders.

Scope of Dual Specialization in MBA

The corporate world is a competitive place. MBA graduates have to stand out from the competition and a dual specialization MBA is the best way. As a recruiter, whom would you hire, an MBA in logistics management, or an MBA in logistics management and operations? Of course, you will hire a candidate who has two specializations. They can handle more responsibilities and bring their expertise to two areas of business. The company will also save the cost of hiring an additional professional.

The power and advantages of a dual specialization are such that B-schools in the USA are strongly considering revamping their MBA degrees to include cross-disciplinary education, which is just a modified version of the dual specialization MBA. Some B-schools are also teaming up with law schools to create dual degrees. Therefore, the world is realizing the potential and advantage of dual education, so you too should take advantage of the dual specialization MBA.

Difference Between MBA and MBA-Dual Specialization

Other than the most obvious difference of additional specialization, there are a few differences between an MBA and a dual specialization MBA. In a dual specialization MBA, you can combine your specializations in a way that results in you getting in-depth knowledge and education in interconnected fields. Some examples of these combinations are accounting & finance, marketing & analytics, and operations & human resources management.

Another major difference is that a dual specialization MBA will allow you to apply for jobs in either field. You will be able to cast a wider net when it comes to job search and following a career path. It’s possible to like two specializations rather than just one and a dual specialization allows you to pursue both.

What Should I Choose MBA or MBA-Dual Specialization?

Though both courses have their advocates, it all boils down to your choice. When it comes to delivery, the dual specialization delivers more. But you also have a larger workload as education for two specializations is crammed into the 2-year degree course. Whereas in a regular MBA, you can concentrate on a single specialization.

To make the right choice, you have to know what you want from your postgraduate education what specializations truly interest you, and your ability to handle the workload. Only then will you be able to make the right choice? Current market conditions favour the dual specialization MBA and you’d be served well doing this course.

Key Takeaway

There is still some apprehension among students about going for dual specialization. Because a few years ago, recruiters wanted people who were focused on one domain only. But as time changed, so did their perspective.

Organizations now seek multi-skilled people as they are time-efficient and solve problems on a broader level rather than just going around one cause. However, with more specializations comes more responsibility. Meaning, that you have got to study and focus on both of them equally so that you use your advantage to the fullest.

To know if dual specialization is the right career for you, fill out the enquiry form. Our counsellors will get in touch with you.