A Master of Business Administration (MBA) degree program helps prepare students for professional business careers. These programs teach students about such subjects as economics, management theories, marketing, leadership skills, and accounting. Along with the standard MBA degree, there are also several specialized types of MBA degrees available, including the MBA in technology management and the MBA in financial services management.
Comparing Specializations: Technology Management Vs. Financial Services Management
MBA in Technology Management
One area of MBA specialization is technology management. This kind of MBA program may encompass coursework that focuses on the intersection of technology and business. Along with the required core courses of the standard MBA, in this specialization, you may also take courses in topics such as information and security, information systems, supply chains, and operations. The length of this program can range from one year to 16 months and will require anywhere from 39 to 64 credits for graduation. Many MBA programs of this type have an online option and also offer full-time or part-time options as well, so that you can work and earn your degree at the same time. This degree could prepare you for a business career as an IT manager, a technology management consultant, or a chief technology officer.
MBA in Financial Services Management
Another specialized MBA is in financial services management. These programs concentrate on financial-related subjects, including banking, financial planning, and managing financial resources. Those who are working towards this type of MBA might choose elective topics that include financial ethics, managerial finance theory, financial regulations, and global finance. This MBA specialization could help you obtain a job as a financial manager or a securities and commodities agent. To help facilitate these career goals, some programs will offer study abroad and internship opportunities, and others will offer research experience in the form of guided research projects. These kinds of programs sometimes take about a year to complete, with around 34 credits. Some offer night class options while others can be full-time, part-time, or online.
Common MBA Admission Requirements
Whether you decide to earn an MBA in technology management or an MBA in financial services management, the admission requirements will be similar for both degree types. First, you must have a bachelor's degree from a post-secondary institution. Other admissions materials you may need include letters of recommendation, a personal statement, an essay, and college transcripts. Depending on the specific program, you may also be required to submit your GRE or GMAT scores. However, some programs no longer have this requirement or offer GRE or GMAT waivers. Last, there are some programs that may also require professional work experience.
A specialized MBA degree, whether that be in technology management or financial services management, is a pathway for achieving your specific career goals. If you're interested in the technology aspect of business, an MBA in technology management could be a way for you to develop your IT or systems management skills.; however, if you're more interested in the financial world or banking, an MBA in financial services management offers coursework that will delve into the complexities of financial management and financial institutions.