Entrepreneurship is the order of the day. It is an exciting and challenging path that most of the ambitious youth of this generation are willing to choose to realize their dreams. Observing the shift in the trend and increased levels of interest in entrepreneurship, B-schools have introduced full-time master’s program with a specialization in Entrepreneurship.
How is it different from regular MBA specializations?
Until a decade ago, Entrepreneurship was utmost a subject in MBA programs. However, the financial crisis that hit the world in 2008 has made it difficult for young skilled job aspirants to find employment which nudged them towards creating their own businesses. The past decade also saw a great rise in successful startups which went on to become million-dollar companies. To cater to the increasing demand to streamline studies in Entrepreneurship a subject or a course wouldn’t be enough. Hence, many MBA colleges today offer MBA with an Entrepreneurship specialization.
A Master’s completely dedicated to Entrepreneurship will equip the students to learn all aspects of running a business and to be precise, a business in the industry they are interested in. Many B-schools in India are also now offering this stream in MBA. This Program is not only for young people with fresh dreams, but it is also apt for young aspirants hoping to take forward their family businesses.
List of MBA colleges which offer Entrepreneurship specialization
Source: http://prod-upp-image-read.ft.com/281fa08c-1e55-11e9-b2f7-97e4dbd3580d
- Stanford Graduate School of Business
- University of California at Berkeley: Haas
- MIT: Sloan
- IMD Business School
- Brigham Young University: Marriott
- Rice University: Jones
- WHU – Otto Beisheim School of Management
- Imperial College Business School
- University of Cambridge: Judge
- Babson College: Olin
Scope of MBA Entrepreneurship:
An MBA in entrepreneurship will prepare you to venture into the industry you are passionate about and want to work in. Most colleges which offer entrepreneurship specialization offer elective courses or subjects on specific industries. By choosing specific industries that you are interested in, you can narrow down your focus to that industry as well as learn the nitty-gritties of that industry which are specific to that.
In case you are planning to take up your family business after your MBA, then it is even easier for you as you would have a clearer idea about the industry you want to learn about.
Most of these institutes also provide incubator cells where experts will guide young startups until they are ready to take off in the market on their own. These incubator cells offer great support to young entrepreneurs by providing them technical and knowledge support in the initial stages of the business.
Can you take up a job after MBA in Entrepreneurship?
It is a common doubt that most MBA Entrepreneurship aspirants seem to have. This confusion could mainly arise because few of the colleges offering this course don’t offer placement services to the students of this course. Whether or not your college offers placement services for MBA in Entrepreneurship, the graduates of this course are equally employable as students of any other MBA course.
As a part of MBA Entrepreneurship, you would get to learn all the subjects you would otherwise learn in a general MBA such as Finance, Marketing, Human resource management etc.
You would additionally learn other subjects which are vital to run your own business. Hence, the entire subject you learn in the course would be useful in any organization. Additionally, MBA in entrepreneurship would build up the right attitude in you to take initiatives and to identify and fix problems in any function of the business which could be an add-on quality that any employer would be looking for.
The compensation paid to the MBA entrepreneurship graduates is not very less compared to the other postgraduates. The following are the few statistics related to the compensation of MBA entrepreneurship graduates.
Average Salary: $ 98,000
Top jobs recruited into Average Salaries offered
Business Development Officer $ 115,000
Financial Controller $ 98,000
Product Marketing Manager $ 100,000
Management consultant $ 121,000
Senior Financial Analyst $ 90,000
Operations Manager $ 81,000
Source: Payscale.com
The range of opportunities that MBA entrepreneurship provides is wide and varied. If it is your cup of tea, then you should definitely go for it!