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Did you know that Business Administration is one of the top 3 well-searched disciplines in the world?
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The world is an open field for business enthusiasts. The surge of global networking after the pandemic has opened up numerous new business ventures and possibilities. Playing managemental and administering positions in businesses keep you at the front line of these power plays.
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According to the Times Higher Education report, Business administration is one of the most popular courses in the world. MBA or Master of Business Administration tops the charts in most popular foreign destinations such as the USA, the UK, Canada, Australia, Switzerland and Germany.
The high earning potential and growing job prospects are an undeniable reason for this massive trend. Owing to its growing popularity, most top study destinations offer a variety of specialisations in MBA.
Some of the highest-paying MBA specialisations are:
- Business Analytics
- Information Technology
- Finance
- Marketing
- Economics
- Entrepreneurship
- International Business
- Investment Management
- Innovation Management
- Data Analytics
Key Highlights of an MBA Degree:
| Course Level | Postgraduate |
| Duration | 1-2 Years |
| Common Entrance Examinations for MBA | GMAT GRE CAT XAT MAT SNAP CMAT NMAT IBSAT |
| Types of MBA Courses | Full-time MBA Part-time MBA Executive MBA Online MBA |
| Annual Tuition Fee | INR 45L – 46L in the USA INR 35L – 36L in the UK INR 31L in Canada INR 32L in Australia INR 18L in Germany |
| Minimum Eligibility | Bachelor’s Degree with 50% marks in business or a related field from a recognised university Work experience of 3-5 years |
| Documents Required | Academic Transcripts Statement of Purpose Resume Reference Letter |
| Popular Destinations | USA UK Canada Australia Germany |
If you are planning to pursue an MBA degree, then it is important to learn all about the top course options and their perks.
Here is a comprehensive guide to finding the top MBA specialisations in the world. Let us explore the salary scale, top job profiles and highest-paying firms you can consider for your goal.
Top Universities to Study an MBA
The QS Global MBA Rankings 2024 lists 315 business schools across the world. These are notable for their exceptional quality of education, with excellent faculties and infrastructure.
According to the ranking, the best business school in the world for an MBA degree is the Stanford Graduate School of Business. The second position is secured by the University of Pennsylvania (Wharton). Among the top 10, five of them are from the United States.
The universities are picked based on their exemplary role in employability, entrepreneurship, and ROI. In addition, the universities that are given are notable for their leadership opportunities and diversity within the campus.
Check out the table below for the top 5 universities for MBA:
| University | Annual Tuition Fee per year |
| Stanford Graduate School of Business | INR 88L (USD 1,06,480) |
| Wharton School of the University of Pennsylvania | INR 72L (USD 87,370) |
| Harvard Business School | INR 62L (USD 74,910) |
| London Business School | INR 95L (GBP 115,000) |
| HEC Paris | INR 81L (GBP 90,000) |
Top Countries to Study an MBA
Most countries offer MBA courses in their universities. However, pursuing your degree from the most sought-after destination will let you experience a lot of perks.
The top study-abroad destinations such as the USA, the UK, or Canada not only provide you access to the prestigious institutions of the word. The multiculturalism and cultural inclusiveness of the place will give you a whole new level of experience in your level.
In addition to getting access to top-notch technology and research facilities, these top countries will open up career opportunities from global business giants for you.
Pursuing an MBA from a foreign destination such as the US or the UK will open up a wider global platform for you. This will consequently increase the scope and range of your career in the future.
Let us look at the top five destinations for an MBA course in the world to understand the scope, demand and career prospects in each of them.
Overview of top destinations for an MBA:
| Country | Annual Tuition Fee for MBA |
| USA | INR 45L – 46L (USD 53,000) |
| UK | INR 35L – 36L (EUR 40,000) |
| Canada | INR 31L (CAD 50,000) |
| Australia | INR 32L (AUD 60,000) |
| Germany | INR 18L (EUR 20,000) |
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USA
The USA is one of the best destinations for an MBA degree. The flexible education system, research opportunities, excellent faculties, and global exposure make it a top choice for Indian students.
Moreover, the USA is home to several top companies such as Apple, Microsoft and Amazon. After completing an MBA, you get access to numerous opportunities in the country.
The USA hosts some of the most recommended universities in the world.
Top MBA Universities in the USA are:
- University of Chicago (Booth)
- Northwestern University (Kellogg)
- University of Pennsylvania (Wharton)
- Massachusetts Institute of Technology (Sloan)
- Harvard University
UK
The United Kingdom is a common destination for Indian students who intend to study abroad. The quality of education and diversity of programs make it a popular destination among students.
The UK is also at the forefront of businesses. It is home to the top multinational companies, including Shell, AstraZeneca and Unilever. So, it is an ideal choice for business students.
Top MBA Universities in the UK are:
- London Business School (LBS)
- Oxford Business School
- Cambridge Judge Business School
- Imperial College Business School
- Warwick Business School (WBS)
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Canada
Canada is amous for its excellent quality of academics and research opportunities. The blooming Canadian economy is a major attraction for business students. Its pro-immigration policies make it an even better option for an MBA degree.
The Canadian universities offer a variety of MBA programs.
Top MBA Universities in Canada are:
- The University of Toronto – Rotman School of Management
- Queen’s Smith School of Business
- Western University – Ivey Business School
- McGill University – Desautels Faculty of Management
- York University – Schulich School of Business
Australia
Australia is often opted by Indian students for an MBA degree. The major reasons are its top-ranking universities, cultural diversity and the global recognition you receive for your certificate after completing your studies.
The Australian universities offer diverse and well-structured MBA courses.
Top MBA Universities in Australia are:
- Melbourne Business School, University of Melbourne
- Australian Graduate School of Management (AGSM), University of New South Wales
- MGSM Macquarie Graduate School of Management, Macquarie University
- Monash Business School, Monash University
- University of Queensland Business School
Germany
Germany is a safer and stabler country for international students. The cultural inclusiveness provides a much more comfortable environment for study and work.
The growing German economy makes it a good choice for a business course. The outstanding universities of Germany offer various MBA specialisations.
Top MBA Universities in the USA are:
- Mannheim Business School
- Frankfurt School of Finance and Management
- ESMT Berlin
- HHL Leipzig Graduate School of Management
- WHU (Otto Beisheim)
In addition to the above-mentioned top 5 destinations, there are more countries where you can opt for an MBA degree. These are recommended for their quality of education, availability of diverse programs and the scope and salary provided for an MBA graduate.
Other recommended destinations are:
- France
- Spain
- Singapore
- Switzerland
- Netherlands
Why Do You Need a Specialised MBA?
Although you can do a general MBA, completing a specialised degree will increase your chances of getting into a prestigious and prospective career.
A general MBA provides you with a broader and more general knowledge of the discipline. You will study the general principles and core topics that are fundamental to the study of business administration.
A specialised MBA will not only cover the basics but also allow you to go in-depth in a particular field and study its particulars. It teaches you about a particular industry or field.
For example, if you opt for an MBA in Business Analytics, you will get to learn about business administration within the realm of analytics. You will be tutored in the fundamentals of data management, including data modelling, predictive analytics, data visualisation and qualitative and quantitative methods.
A general MBA can improve your job opportunities, but your payment scale can be basic. A specialised MBA will offer you better and highly paid job profiles in top employment firms.
How to Choose Your MBA Specialisation?
MBA offers a variety of specialisation fields. There are several factors to consider while choosing your MBA.
As much as your strengths, interests, and career objectives are important, there are other significant factors to consider while selecting your MBA specialisation.
Some of the parameters to be considered are:
- Salary scale
- Scope and demand
- Job growth
- Social status
- Availability of excellent faculties
- Availability of internships and placement options
- Research facilities and other infrastructure
- Tuition fee and ROI of the program
While the scope, demand, and payscale vary across each country, certain MBA specialisations are popular across the world.
Top 10 Highest Paying MBA Specialisations
Choosing the right MBA course for your study abroad plan can be tricky. However, it is important you make an informed decision.
Before choosing your MBA specialisation, make sure the course you opt for provides you with a better and brighter career in the future. Getting a job alone isn’t enough. Getting into a reputed firm with an attractive salary package is extremely important.
According to the Graduate Management Admission Council’s Corporate Recruiters Survey, the median salary for an MBA graduate is USD1,15,000 (INR 95 lakh). Your salary can further escalate based on your skills and experience level.
We have compiled a list of the top 10 highest-paying MBA specialisations worldwide, their top job profiles and salaries. While other factors, such as tuition fees, course duration, and job prospects, vary across each country, you can get an overview of the popular courses and their top job roles here.
Check out the top 10 MBA courses below:
| MBA Course | Top Job Profiles |
| Business Analytics | Business & Data Analyst Business Strategist Analyst Business Application Analyst |
| Information Technology | Information Technology Manager IT Senior Associate IT Services Manager |
| Finance | Financial Management Associate Finance Consulting Manager Leveraged Finance Associate |
| Marketing | Field Marketing Manager Client Success Specialist Social Media Coordinator |
| Economics | Investment AnalystInvestment bankingActuary |
| Entrepreneurship | Business Innovation Consultant Technology Innovation Consultant Venture capital |
| Data Analytics | Data Analyst Data Management Data Architect |
| Innovation Management | Management consulting Business Intelligence Manager Senior Business Consultant |
| International Business | Business Development Manager International Trade Specialist Import Compliance Specialist |
| Investment Management | Investment banking Investment Analyst Financial Manager |
In addition to the above list, numerous other job profiles come under each of the MBA specialisations mentioned above. Their salary scale and scope can vary depending on your location.
Top 5 MBA Specialisations
The top 5 MBA specialisations in the world are Business Analytics, Information Technology, Finance, Marketing, and Economics. These specialisations are among the most popular and highest-paying ones due to their huge demand and scope.
Being an MBA aspirant, you must understand all the necessary information on each of these courses. Understanding the course details, such as core subjects, tuition fees, and best faculties, is extremely necessary.
Moreover, exploring the top job profiles and average salaries of each of the courses will help you find your best choice.
Check out each of them in detail:
1. MBA in Business Analytics:
The MBA in Business Analytics is the highest-paid MBA specialisation in the world.
Business Analytics (BA) is the technique of resolving business problems using data analysis, statistical models and other quantitative measures. Most companies view their data as an asset and look for methods to utilise it for competitive advantages. An MBA in Business Analytics moulds you to ace business analytical skills that enable companies to gain insights into data to make informed decisions.
An MBA in Business Analytics covers a range of topics and prepares you for a variety of work skills. The topics can vary depending on your university course structure. Some of the common topics are mentioned below.
Core subjects:
- Business intelligence
- Data Analytics
- Computer programming
- Quantitative Methods
- Financial Management
- Managerial Economics
- Operations Management
As an MBA in Business Analytics is so popular, most top universities in the world offer this course. Pursuing your MBA in Business Analytics from a reputed university can boost your career prospects.
Best universities for an MBA in Business Analytics:
- Massachusetts Institute of Technology
- Imperial College London
- Alliance Manchester Business School
- University of Alberta
- University of Melbourne
An MBA in Business Analytics makes you eligible for some of the most highly-paid professions in the world. Some of the top-paid job profiles after an MBA in Business Analytics and their average salaries are mentioned below.
Check out the job prospects below:
Here is the table converted into INR with the specified format:
| Job Profile | Annual Salary |
| Business Systems Analyst | INR 50 – INR 54.5L (USD 60,000 – USD 65,000) |
| Business Strategist Analyst | INR 42L – INR 80.5L (USD 50,000 – USD 96,000) |
| Healthcare Business Analyst | INR 67L – INR 75.5L (USD 80,000 – USD 90,000) |
| Business & Data Analyst | INR 67L – INR 75.5L (USD 80,000 – USD 90,000) |
| Business Application Analyst | INR 59L – INR 67L (USD 70,000 – USD 80,000) |
2. MBA in Information Technology:
MBA in Information Technology is commonly known as an MBA in IT. Owing to globalisation and digitalisation, it is a rapidly growing field of study.
MBA in Information Technology combines business studies with information systems together to develop a variety of service sectors. Most importantly, information security, project management, and telecommunications are the top sub-sectors under the study.
An MBA in Information Technology helps you cover the basics and fundamentals of how information technology is incorporated into business. Some of the common topics covered by most universities are mentioned below for your reference.
Core subjects:
- Financial Accounting
- IT Project and Operations Management
- Business Intelligence and Analytics
- Operation Management
- Business Intelligence and Analytics
- Data Visualization and Modeling
Numerous prestigious universities across the world offer MBAs in Information Technology. Some of them are listed below.
Best universities:
- Carnegie Mellon University
- Massachusetts Institute of Technology
- University of Glasgow
- University of Toronto
- University of New South Wales (UNSW), Sydney
Given are the top job profiles that you can avail of after an MBA in Information Technology. Their average annual salaries are also mentioned for your understanding.
Check out the job prospects below:
| Job Profile | Annual Salary |
| Solutions Architect Senior Manager | INR 67L – INR 71L (USD 80,000 – USD 85,000) |
| IT Senior Associate | INR 59L – INR 63L (USD 70,000 – USD 75,000) |
| Information Technology Manager | INR 71L – INR 8.3Cr (USD 85,000 – USD 990,000) |
| IT Services Manager | INR 59L – INR 63L (USD 70,000 – USD 75,000) |
| Senior IT Business Analyst | INR 54.5L – INR 59L (USD 65,000 – USD 70,000) |
3. MBA in Finance:
Business is all about financial transactions and services. An MBA in Finance develops analytical and statistical awareness in students to let them develop, organise and monitor the financial necessities of any business firm.
MBA in Finance covers all the important topics related to the financial aspect of business administration. The common topics covered are below.
Core subjects:
- Financial Accounting
- Business Analysis and Valuation
- Corporate investment management
- Risk management
- Corporate finance
Given are the top universities for an MBA in Finance. They rank high in terms of faculty quality, infrastructure and exposure.
Best universities:
- University of Pennsylvania (Wharton)
- University of Chicago (Booth)
- London Business School
- Imperial College London
- Frankfurt School of Finance & Management
An MBA in Finance will let you access some of the highly-paid jobs within the business world. Some of them are listed below.
Check out the job prospects below:
| Job Profile | Annual Salary |
| Financial Management Associate | INR 71L – INR 75.5L (USD 85,000 – USD 90,000) |
| Manager – Finance Integration & Separation | INR 71L – INR 75.51L (USD 85,000 – USD 90,000) |
| Finance Consulting Manager | INR 67L – INR 71L (USD 80,000 – USD 85,000) |
| Leveraged Finance Associate | INR 63L – INR 67L (USD 75,000 – USD 80,000) |
| Finance Analyst | INR 50L – INR 54.5L (USD 60,000 – USD 65,000) |
5. MBA in Marketing:
Marketing is important for any business venture. It assures profit with popularity. Especially with the growth of social media platforms, an MBA in Marketing has become more popular.
An MBA in marketing enables you to study how to perform sales, market, consumer trends, strategies, and research in the field.
MBA in Marketing will cover all the relevant topics within the field of marketing and teach you how to utilise this in businesses. Some of the important topics that come under the course are given.
Core subjects:
- Marketing Research
- Consumer Behaviour
- E-Marketing
- Retail Marketing
- Services Marketing and Customer Relationship Management
- Advertising Management and Sales Promotion
If you are planning to study an MBA in Finance, then picking the best institutions for the same is extremely important. Some of the universities you can choose are given below.
Best universities:
- Northwestern University (Kellogg)
- University of Pennsylvania (Wharton)
- Oxford Business School
- EU Business School
- University of Melbourne
After an MBA in Finance, you are eligible for a variety of job roles in the field of marketing. Some of the top positions are given.
Check out the job prospects below:
| Job Profile | Annual Salary |
| P&L Controller | INR 67L – INR 71L (USD 80,000 – USD 85,000) |
| Client Success Specialist | INR 59L – INR 67L (USD 70,000 – USD 80,000) |
| Business Intelligence Manager | INR 59L – INR 63L (USD 70,000 – USD 75,000) |
| Field Marketing Manager | INR 50L – INR 59L (USD 60,000 – USD 70,000) |
| Equity Portfolio Specialist | INR 42L – INR 50L (USD 50,000 – USD 60,000) |
6. MBA in Economics:
MBA in Economics is a recent and more popular field. It is also one of the most highly paid-courses in the world. An MBA in Economics incorporates the study of economics within the field of business. It analyses, assesses and manages the economic aspects of business.
While applying economics to business, there are a lot of fundamental theories you must learn. Although the syllabus can vary depending on your university, some of the common topics are given below.
Core subjects:
- Micro Economics Analysis
- Statistical Methods
- Principles of Management
- Public Finance and Taxation
- Business Accounting
- Computer Application
- Macro-Economic Analysis
Some of the top universities across the world to pursue an MBA in Economics are mentioned below.
Best universities:
- University of Oxford
- University of Cambridge
- Stanford University
- University of Munich
- University of Bonn
After completing your MBA in Economics, you can apply for several top recruiters. You will be eligible for some of the top job roles in the field of economics. Some of them are listed below.
Check out the job prospects below:
| Job Profile | Annual Salary |
| Healthcare Economists & Trend Analyst | INR 71L – INR 75.5L (USD 85,000 – USD 90,000) |
| Research Economist | INR 63L – INR 75.5L (USD 75,000 – USD 90,000) |
| Economic Analyst | INR 59L – INR 67L (USD 70,000 – USD 80,000) |
| Policy Analyst | INR 54.5L – INR 63L (USD 65,000 – USD 75,000) |
| Economic Development Analyst | INR 54.5L – INR 59L (USD 65,000 – USD 70,000) |
Top Companies to Work After an MBA
Getting into a well-established firm can assure you of an attractive salary package and other offers. In addition to your basic salary, you can also get other allowances such as housing, medical and travel. You can also get bonuses and incentives based on your performance in the company.
But these are not the only perks of working in a multinational firm. Working in top job platforms will open up better opportunities and experiences for you. This will enable you to get a wider global exposure and will definitely boost your profile.
Given below is a list of top companies hiring MBA graduates. We have also included the average annual salary in each firm for your reference.
Check out the table below:
| Company Name | Job Profile | Average Annual Salary (INR) |
| Senior Product Manager | INR 1.8 crore (USD 227,000) | |
| Accenture | Senior Manager | INR 1.6 crore (USD 195,000) |
| IBM | Chief Technology Officer (CTO) | INR 1.4 crore (USD 170,000) |
| Big Three | Business Consultant | INR 1.3 crore (USD 165,000) |
| Apple | Business Development Manager | INR 1.3 crore (USD 160,000) |
To Sum Up
Securing an MBA is your first step to becoming one of the future leaders of the business world. Pursuing your MBA from a reputed university can assure you of a stable job and better job prospects in the future.
MBA in Finance and Marketing are always a popular and traditional choice for business enthusiasts. However, new and growing fields of Entrepreneurship and Information Technology can be an asset in the long run.
It is your interest, aptitude and passion that determines the best choice for you—considering all the necessary factors such as the study-abroad destination, university, duration, job opportunities and growth prospects while opting for your MBA specialisation.
If you are planning to pursue an MBA degree, but are confused with all these choices, then you are at the right place to begin with. Leap’s study abroad consultants can drive you all the way through until you reach your destination
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Frequently Asked Questions
Q. Which MBA course has the highest salary?
A. Business analytics, information technology, finance, and marketing are among the highest-paying MBA specialisations. The average salary of a business analyst in the USA is INR 70 lakhs ($84,487), whereas the average salary in the UK is INR 44 lakhs (£44,668).
Q. Which is the best country to study for an MBA?
A. The best country to study for an MBA depends on various factors, and the choice is highly subjective. Different countries offer unique advantages and considerations.
Some of the best countries for an MBA degree and their average tuition fee are below:
– USA – INR 45-46 lakh ($ 53,000)
– UK – INR 35-36 lakh (€ 40,000)
– Canada – INR 31 lakh (CA$ 50,000)
– Australia – INR 32 lakh (AU$ 60,000)
– Germany – INR 18 lakh (€ 20,000)Q. What are the top jobs after an MBA?
A. Some of the top jobs after an MBA course and their average annual salaries are:
– Human Resource Manager: INR 60 lakh ($72,492) per year
– Senior Consultant: INR 68 lakh ($81,659) per year
– Marketing consultant: INR 74 lakh ($88,899) per year
– Investment analyst: INR 62 lakh ($75,187) per year
– IT security specialist: 78 lakh ($93,695) per yearQ. Q. What are some of the top companies to work for after an MBA degree?
A. There are several top companies you can work for after completing an MBA degree. Some of them:
– Google
– Apple
– IBM
– Deloitte
– EYQ. Which MBA specialisation is best paid in the world?
A. The best-paid MBA specialisations in the world are:
– Business Analytics
– Information Technology
– Finance
– Marketing
– EconomicsQ. Which MBA specialisation is best paid in Canada?
A. The average salary for an MBA graduate in Canada is INR 68 lakh ($82,735). This is the median basic pay in the country. The highest salary in Canada for an MBA graduate is INR 1.2 crore ($149,053) on average. The lowest average salary in Canada for MBA graduates is INR 50 lakh ($60,379).
Q. What are the top universities for an MBA?
A. Some of the top universities for an MBA program are:
– Stanford Graduate School of Business
– Wharton School of the University of Pennsylvania
– Harvard Business School
– London Business School
– HEC ParisQ. What MBA specialisation should I choose?
A. You can choose your MBA course depending on your aptitude and interests. Once you find your field, consider other influencing factors such as employability and future prospects. You can also consider the following factors:
– Salary
– Scope and demand
– Job growth
– University ranking
– Availability of internships and placement options
– Research facilities and other infrastructure
– Tuition fee
– ROI of the programQ. What is the duration of an MBA degree?
A. The average duration of an MBA degree is 1-2 years. However, this can vary depending on your country, university and specialisation. The average duration of an MBA degree in India is 2 years. It remains the same in the USA. In the UK, the average duration is 12 to 18 months.
Q. What is the cost of doing an MBA degree abroad?
A. The average tuition fee for your MBA degree can vary depending on your country, university and course. Given is the average tuition fee in the top 5 destinations.
– USA – INR 45-46 lakh ($ 53,000)
– UK – INR 35-36 lakh (€ 40,000)
– Canada – INR 31 lakh (CA$ 50,000)
– Australia – INR 32 lakh (AU$ 60,000)
– Germany – INR 18 lakh (€ 20,000)Q. Which MBA specialisation is best for the future?
A. Some of the best MBA specialisations with a growing job prospects are:
– Healthcare Management
– Global Business/International Management
– Entrepreneurship
– Finance and Financial Technology (FinTech)
– Technology Management/IT Management
– Sustainability/Environmental ManagementQ. Can I study for an MBA without a GRE/GMAT?
A. While the GRE/GMAT is a common eligibility for most top foreign universities, recently, several institutions have wavered this requirement. Some institutions provide a condition waiver for which you must satisfy other specific requirements such as top GPA, work experience or alternate exams.
