5 POPULAR CONCENTRATIONS FOR BUSINESS ADMINISTRATION MAJORS
Business Administration Concentrations
- Health Care Management
Before applying to MBA programs, you should have some idea of what you want to study, which you can do with a look at the business administration concentrations available. While there are a number of general MBA programs that look at all aspects of business, enrolling in a program that offers concentrations allows you to study a specific field or aspect of business in greater detail. The best concentration for you will depend on how you want to use your degree.
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Health Care Management
As health care management is one of the newer concentrations available, you may find that only a few colleges offer this type of program. Unlike a general management program that can prepare you for working in a large corporation or a nonprofit organization, a health care management program prepares you specifically for working in health care facilities like an HMO or a hospital. You’ll learn how to manage and lead the employees working under you, the best hiring practices to use and how to handle staff shortages.
Do you like leading others and being in control of large groups? When you select a concentration in management, you learn the skills needed to both inspire and lead others in variety of different fields. Some of the classes you take will focus on human resource management that teach you how to identify the best candidates for an open job and how to follow hiring laws and practices. You’ll also take classes that teach you different management techniques that you can use in the field and how to use some of the software you may need on the job.
If you feel comfortable working with numbers but do not want to study accounting, a concentration in finance might be a better choice for you. This type of program combines the benefits of a Master in Finance with the benefits of an MBA program. Finance courses will teach you how to make the financial reports that you show to shareholders and the reports released to the general public. You also learn about financial analysis, risk assessment and investing on the behalf of others.
Graduate accounting programs typically fall into two categories: MBA programs with a concentration in accounting or master’s programs in accounting. While a master’s program can qualify you to sit for a licensed CPA exam, an MBA program will let you learn more about general business practices while also helping you sit for that exam. You’ll usually take classes like intermediate accounting, accounting for nonprofits and individual taxation. As an MBA student, you also have the chance to take classes in related fields like economics and finance.
One of the best business administration concentrations for those who like working both in front of and behind the scenes is marketing. Marketing experts hold focus groups to find out how prospective customers feel about new products or changes to the packaging and formulas of older products. They also work with advertising experts to create campaigns. Some even work with a company’s social networking accounts. According to the Bureau of Labor Statistics, the median salary for a marketing manager is more than $120,000 a year. The BLS also believes that the number of jobs in the marketing management field will increase at a faster than average rate by 2024.
MBA programs include general programs that focus on all fields of study relating to business and programs that let you pick a concentration in one of those subjects that applies to your career goals. Some of the top business administration concentrations available include those in marketing and health care management.
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