Most MBA programs allow you to structure your course load to emphasize a specific business area.  These business areas are called “concentrations” or “majors.” It basically means that in addition to the core classes that everyone takes, you’ve taken several classes that are specific to your concentration.  The following are some of the more common MBA concentrations:

Accounting

As the name indicates, an Accounting concentration or major is recommended if you’re considering any type of career in corporate finance, treasury, investment banking, or in private equity as well as investment management, hedge funds, trading, or consumer finance.  In addition, this major fulfills the requirements for the CPA (Certified Public Accountant) or CMA (Certified Management Accountant) certifications.  Many accounting students planning corporate careers tend to get double majors in finance as well.

Business and Public Policy

This major tends to attract those students interested in the impact and influence of government on the conduct of business, especially in the non-profit sector.  This concentration is also recommended for those considering a career with companies involved with international development.   This major can also be appropriate for those interested in careers in social impact management as well as in corporate governance in the for-profit and public sectors.

Entrepreneurial Management

This major emphasizes the skills needed in the start-up phase of a new venture and is the one that tends to get all the press.  It’s also appropriate for those who are considering working in private equity or management consulting firms, or for those planning to join a new start-up.  This major is usually combined with Marketing, Finance, or Strategic Management in order to provide the wide range of skills needed in a new venture.

Environmental and Risk Management

This concentration provides the skills needed to identify and calculate the costs, and risks, of various environmental practices and/or policies.  “Sustainability” is an important topic in the business world and is the primary focus of this major.

Finance

Finance is what you think of when someone mentions an MBA.  It tends to be the most popular concentration and is a common choice for a double major.  It’s recommended for those interested in any facet of the corporate finance or banking sector. This degree is also key in positions that involve M&A, mergers and acquisitions.  The most common majors that are combined with Finance include Marketing, Operations, Strategic Management, and Information Management.

Global Management

The Global Management major prepares students interested in performing consulting, or for working in corporations that are global organizations.  Emphasis is placed on the various skills required to manage organizations that may span different nationalities, cultures, and languages.  This major is commonly combined with either a Finance or Marketing major.

Information Management

This concentration emphasizes the use of information and information systems in order to either gain a strategic advantage in the marketplace, or to improve operations. This major provides an interdisciplinary framework with which to acquire sufficient data in which to make a decision or plan a strategy.  It’s an appropriate major for those students interested in joining a management consulting firm or for a career in business intelligence.

Marketing

Another one of the “traditional” MBA concentrations, the Marketing major provides various ways to understand and evaluate business markets, competitors, and products.  As a result, it’s a popular choice for those pursuing general management careers.  Like Finance,  Marketing’s relevance to all business operations makes it a good double major when combined with Finance, Strategic Management, Entrepreneurial Management, or Operations Management.

Operations Management

Also thought of as the major for the assembly line, the Operations Management major is appropriate for anyone interested in the “supply chain” of a business.  This can include a physical supply chain or an information-based system in the retail or manufacturing industries.  Skills learned in this major will include production optimization, quality control systems, and inventory management.

Organizational Management

This major focuses on the “softer” side of management providing skills to understand, measure, and change organizational culture and behavior.  This major is appropriate for students interested in working for consultants that specialize in culture change (“change agents”) or in corporate Human Resource departments.

Strategic Management

The Strategic Management major is appropriate for those students wanting to pursue a management consulting career. It’s also popular for those who intend to get into general management or perform internal consulting. This major combines well with the Marketing or the Finance major.

Other Majors and Concentrations

This list contains only the most common, “traditional,”  majors and concentrations.  Most schools tend to have a number of specialized MBA programs designed to appeal to what they feel are current market needs.  These specialized majors and concentrations can include:

• Real Estate
• Investment Banking
• Stocks and Hedge Funds
• Internet Marketing
• On-line Business
• Executive Programs

It’s up to you to fully investigate the various programs that your university offers since they can change periodically.  Your overall experience prior to coming into the MBA Program, your personal interests, your current work setting and future  career goals will all influence your choice of a major.  Find out all you can about each, and then pick the one you think is best for you.

Hiram
MBA, University of Houston

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