How to Decide Whether or Not to Specialize Your MBA Degree

MBA degrees, for the most part, are generalist degrees that give students a strong foundation in overall business knowledge—from finance to organizational behavior. But experts say it may be wise for some students to specialize their MBA degree, especially if they are intent on pursuing a specific career goal.

Stacy Blackman, founder of Stacy Blackman Consulting, recently offered some insight on how to decide if a specialized MBA is right for you.

CLEAR CAREER GOALS

If you’re set on a specific career, a specialized MBA degree may be the right move. Blackman says specialization can be especially helpful for those who are looking to build a specific skill base in a set industry.

“Suppose you already know you’re interested in STEM, digital marketing, real estate, business analytics, social innovation, health care, etc.,” Blackman says. “In that case, earning an MBA with a concentration can make you even more marketable. Recruiters like to see a strong focus on a particular field or functional area.”

POTENTIAL TO STAND OUT

In a highly competitive job market, a specialization can potentially help bolster your resume and let recruiters know that you have in-demand skills.

“Having that specialization on your resume, plus a supporting internship or extracurricular activities, will help you stand out from the crowd,” Blackman says. “Students who specialize can also grow their niche network during the MBA program.”

Experts say some of the most in-demand MBA specializations right now are management science, quantitative methods, and data analysis.

“That has grown in many, if not almost all, business schools,” Brad Killaly, associate dean of the University of Michigan’s Ross School of Business, tells US News. “And that would be driven by the needs of our employers, and the needs of the companies and organizations that our graduates want to work for and work with.”

CONSIDER THE DRAWBACKS

Specializing your MBA degree may sound like an obvious choice, but Blackman warns it isn’t for everyone.

“While focusing on a specific business subject is fine, it can be limiting,” she says. “Specializing in one area can cause you to miss out on other important concepts, such as how the different departments of a business work together. One could argue that you should earn a degree in that specialty instead.”

The benefit of a generalist MBA degree is the fact that it’s general—high-level enough that you get a little bit of everything.

“Ultimately, when you’re running a company, chances are you won’t be pulling together the financial models or balancing the books,” Blackman says. “Understanding those aspects is undoubtedly essential. But you don’t need to be a master—ideally, you will hire others to do the deep dive.”

Sources: Stacy Blackman Consulting, US News