Top 5 MBA DegreesA Master of Business Administration, or MBA, is a degree that you can earn to augment your education. By graduating with an MBA, you’ll have obtained one of the world’s most respected degrees. If you’ve decided to expand your education, then you’ll need to choose a specialty. The top five MBA degree specialties are:

  • Finance
  • General management
  • Healthcare management
  • Information systems
  • Nonprofit

Finance

By getting an MBA in Finance, you’ll have a degree in one of the oldest specialties. It is also among the most popular, according to Study.com. If you intend to work on Wall Street, then you’ll need to earn your MBA in finance. The program will teach you about budgeting, banking and international finance. It will also give you a better understanding of financial theories and the best managerial practices. With your MBA in finance, you’ll be able to pursue a career in a financial institution or a consulting firm. You could even work in corporate finance, international finance or merchant banking.

General Management

When you earn a General Management MBA, you’ll have a traditional degree that will give you an education in general business administration. You’ll also gain wide-ranging information regarding the business field’s core elements. You can expect to learn about basic finance, strategic management and accounting along with marketing, leadership and business ethics. General Management MBA programs are the best choice when you’re interested in a wide range of business topics because the degree will provide you with the skills that you need for different types of supervisory positions. In addition, a General MBA degree is a good option when you’re unsure of the specialty that you want to pursue.

Healthcare Management

The healthcare field will continue to expand over the years. By getting your MBA in Healthcare, you’ll receive the type of skills that interest the pharmaceutical industry’s hiring professionals. The program will also prepare you to work as a hospital administrator or an insurance company executive. While taking courses to earn your MBA in Healthcare, you’ll be trained to understand fundamental business processes and practices. Many areas of the healthcare field pay well, so with your MBA, you’re likely to earn a comfortable income. This is particularly true when you work for a biomedical startup, medical device or consulting company.

Information Systems

Today, businesses are unable to operate without an effective IT department. By earning your MBA in Information Technology, you’ll have a degree that will remain relevant. During the MBA program, you’ll take courses that will prepare you to oversee the planning, design and implementation of budding and converging communication advancements as well as information technologies. With your MBA in IT, you’ll qualify for major roles on a company’s business team. You should also plan to design and apply software solutions to various business related problems. In IT, you may wind up working in web applications development or network administration.

Nonprofit

A rewarding career awaits you when you earn an MBA that specializes in nonprofit management, according to US News. With the degree, you’ll be ready to start your journey in a field that’s challenging and fulfilling. The degree will also give you the chance to earn executive level compensation. In the program, you’ll take courses that will teach you about business strategies, advertising techniques and finance. The core educational focus of a Nonprofit MBA is to give you an understanding of the theories and follow through of business management as it pertains to the particular needs of the nonprofit field.

Related Resource: Top 20 Best Value Online MBA Programs 2015

Benefits of an MBA

An MBA will increase your income potential. It could also make it easier for you to obtain career advancements. Keep in mind that in today’s business world, most people need to hold an MBA to be eligible for high-level corporate jobs. With a higher level of education, you’ll likely have access to many different kinds of employment opportunities.