Considering going back to school for your Master of Business Administration (MBA)? If so, then you might also be wondering whether a general MBA or MBA specialization is right for you. At The University of Tennessee at Chattanooga, we offer your choice of a generalized MBA as well as four career-focused MBA specializations in accounting, business analytics, finance, or healthcare administration.
By having a better understanding of the similarities and differences between a general MBA and a specialized MBA, you can determine which path may be right for you.
General MBA vs. Specialized MBA
Before we dive into the differences between these types of MBA degrees, let’s explore some of the ways in which they are similar. Both a general MBA and specialized MBA take the same amount of time to complete and include many of the same core courses. Additionally, both programs offer opportunities for you to gain practical experience in your field while working on your leadership skills and overall personal development.
What Is a General MBA?
With a general MBA, you don’t select a specialization or concentration. Instead, this type of degree program focuses on broader business, management, leadership, and entrepreneurship principles.
Advantages of a General MBA
Is a general MBA worth it? There are several potential benefits to choosing a general MBA over specialized MBA programs. Let’s dive into nine of these advantages of a general MBA.
Broader Career Flexibility Opportunities
For starters, a general MBA offers a comprehensive overview of various business functions, making graduates attractive to a wider range of industries and roles. This type of degree may also be beneficial to those undecided about their specific career path.
Fundamental Business Acumen Across Disciplines
A general MBA program will also help you achieve a holistic understanding of how different aspects of business interconnect, which is critical for roles that require overseeing multiple departments or teams.
Adaptability to Changing Business Environments
The very nature of a general MBA program also fosters more of a flexible and adaptable mindset when compared to a specialized focus. This, in turn, allows you to adapt what you learn in a general MBA program to dynamic business environments more readily.
Enhanced Understanding for Entrepreneurial Ventures
Another benefit of enrolling in a general MBA program is that the curriculum can provide a well-rounded understanding of all aspects of running a company, which is crucial when starting and managing a new business.
Ideal for a Wide Range of Industries
You might be wondering, “what can I do with a general MBA?” The good news is that this type of degree program is one of the most versatile out there. Graduates of a general MBA program are not limited to specific sectors. Instead, they can qualify for work in a wide range of industries, which can mean more opportunities.
Builds a Diverse Professional Network
A general MBA program also tends to attract a diverse cohort from various industries and backgrounds. This, in turn, may lead to a more enriching learning experience and the ability to build a broader professional network.
Leadership Development for General Management
A general MBA program can help you build upon important leadership and management skills universally applicable, ranging from communication and collaboration to analytical thinking and decision-making. This can help to prepare you for success in future general management roles.
Flexibility in Career Transition
In the meantime, a general MBA provides the foundational knowledge and skills needed to enter a new industry or function, making the transition smoother when compared to a specialized program.
Recognition and Credibility Across Various Sectors
The generalist nature of this MBA degree is also widely recognized and respected across multiple industries, offering a level of credibility that can open doors in various sectors.
What Is a Specialized MBA?
A specialized MBA is a more focused degree program that offers concentrated knowledge in a particular industry, such as finance or healthcare administration. This approach allows students to tailor their education to match career goals, providing them with targeted skills and expertise highly valued in specific sectors.
Advantages of a Specialized MBA
Compared to a general MBA, there are also numerous potential advantages to selecting a specialized MBA program when you return to school. Now, let’s explore the nine advantages of a specialized MBA.
Expertise in a Specific Field
First and foremost, specialized MBAs offer deep and focused knowledge in a particular area. This specialized expertise can be highly valuable, especially in industries that require an in-depth understanding of specific business aspects.
Better Alignment with Specific Career Goals
Specialized MBAs also help to ensure that a student’s education directly aligns with their career goals and aspirations, providing a more direct path to their chosen profession than a general MBA.
Higher Demand in Certain Industries
These days, some sectors and companies in certain industries prefer candidates with specialized MBAs because they bring a high level of industry-relevant knowledge and skills. In this sense, a specialized MBA could make you more likely to secure a job in your desired field.
Networking With Industry-Specific Professionals
Being in a specialized MBA program often means working alongside faculty and other students from within the same industry. This can help you build your own industry-specific professional network while in school.
Opportunities for Advanced Industry Research
Likewise, a specialized MBA program can often provide opportunities for advanced research in a specific field. This can be beneficial for those looking to pursue careers in industry-specific research and development.
Competitive Edge in a Niche Market
Having a specialized MBA can help you gain a competitive edge in a niche market, which can make your resume more attractive to potential employers and make it easier to find work post-graduation.
Potential for Leadership Roles in a Specialized Field
The in-depth knowledge and skills gained from a specialized MBA degree program can position graduates for leadership and management roles within their specialization, where a deep understanding of the industry’s specific challenges and opportunities is crucial.
Immediate Applicability of Skills
Finally, the skills and knowledge acquired in a specialized MBA program can be immediately applicable in the workplace, allowing you to make a more seamless transition and quicker impact in your chosen field.
5 Ways to Choose Between a General and Specialized MBA
Still not sure whether a general or specialized MBA is right for you? There are a few steps you can follow to get a better feel for which program will best suit your goals and interests.
1. Determine Your Career Goals
Start by examining both your short- and long-term professional goals. Do you envision yourself working in a niche industry where an MBA specialization might benefit you, or do you prefer to keep your options open? If you’re not yet sure where you want to work or exactly what you want to do with your degree, then a general MBA may be a better match for you.
2. Consider Your Professional Background and Experience
You’ll also want to think about your own professional background and experience thus far. If you have specific experience in a certain industry, such as healthcare, then it may make logical sense to pursue a specialized degree in a field like healthcare administration. This way, you can work your way up to leadership and/or management roles within your current field.
On the other hand, if your experience is more generalized and you don’t have a specific niche in mind, then a general MBA may be a good choice.
3. Assess the Current Job Market and Industry Trends
Take some time to research the current job market, as well as any trends that may apply to the industry in which you are interested. For example, did you know that the projected job outlook for medical and health services managers is expected to grow by 28 percent between 2022 and 2032 alone? That’s much faster than the national average for all occupations — so if you’ve been considering a specialized degree in healthcare administration, this could be a great time to pursue one.
4. Reflect on Your Educational Preferences and Learning Style
You should also consider your own educational preferences and learning style when determining whether a general or specialized MBA is right for you. This can also help you decide whether an online or on-campus MBA program will be right for your needs.
5. Evaluate the Long-Term Professional Impact and Advancement Opportunities
Finally, don’t forget to take into consideration the potential long-term impact of your degree choice on your advancement opportunities. Will the degree that you choose empower you to achieve your biggest career goals? Or could you find yourself having to return to school yet again to gain the skills you need to work your way up the ladder?
Types of MBA Degrees at UTC
As you can see, there are many potential benefits offered by both general and specialized MBA programs. Ultimately, you’ll need to take some time and reflect on your own professional goals and interests to decide which path is right for you.
Regardless of whether you choose a general or specialized MBA program, The University of Tennessee at Chattanooga has both flexible online and in-person program options to accommodate your busy schedule. You can also choose to enroll part- or full-time to meet your specific needs with plenty of support and resources available to you every step of the way.Learn more about our Master of Business Administration degree options by requesting more information or get started with your online application to get the ball rolling on your future.
