July 7th, 2021: As the world of business changes, so too must management education. Universal Business School, Mumbai's most innovative business school at the undergraduate and post-graduate levels and online platform CollegeKhabri set out to find if the pandemic had any sweeping changes on student choices for the MBA specialisation.
The answer- old remains gold. The survey revealed that out of a sample size of 1600 students, the preference for single specialisation was as follows: 1. 42 % voted for finance in the single specialisation category as a preferred choice of specialisation.
2. Marketing ranked at number two with 32 % students selecting it as a choice for specialisation.
3. Operational logistics & supply chain and human resources specialisations both received 11 % votes.
4. Business design and innovation got the least votes at 4 % In terms of dual specialisations, the preference among a sample size of 1400 students was as follows: 1. 35 % of students chose finance and business analytics with artificial intelligence, making it the most popular pairing.
2. Marketing and finance was the second most preferred pairing at 28 % 3. Marketing and business analytics with artificial intelligence as a dual specialisation was preferred by 23 % of students 4. Operations and business analytics with artificial intelligence received 9 % votes 5. Only 4 % of students preferred entrepreneurship under this category “It is not surprising at all that ‘real-world economics’ has gained ground in business studies,” explains Tarun Anand, Chairman of the Universal Business School. “Add to this the soaring job requirement for professionals with STEM skills such as analytics, coding, and innovation- it is not surprising that business analytics and artificial intelligence are the most popular choice of pairing with finance in the dual specialisation category.” This is further corroborated by a Financial Times analysis of more than 100,000 respondents from top business schools, which shows that, over the past decade, most MBAs came from and returned after graduation to a narrow range of careers, with nearly half taking jobs in finance, consulting and technology.
The other important trend is that businesses are also looking soft skills in addition to the core specialisation. A recent survey by LinkedIn found that 57% of senior leaders believe soft skills are more important than hard skills.