The world we live in today is constantly changing and evolving at a very rapid pace. Some would say that change is the only constant. This has led to a scenario where managerial skills have become the need of the hour in almost every industry, no matter your position and expertise.

Management has come to mean a great deal more than just being in charge. You must be able to guide your team, delegate effectively and make sound decisions. Companies and industries want managers who can think laterally and make independent decisions based on the given circumstances.

So, can you learn the “managerial skills” on the job, or do you need specialized management education? Specialized MBA has gained massive traction over the past decade, and here’s why pursuing it is totally worth it.

Specialized MBA

A specialized MBA is an advanced degree specifically targeted at the job market’s managerial requirements. Specialized MBAs are structured in a way that they help students learn better through empirical examples rather than a theoretical model. Specialization can be quite effective as it allows a student to focus on one area of specialization over a period, be it accounting or healthcare.

The healthcare industry does not just need able doctors, nurses and paramedics but also experienced and skilled managers to oversee day-to-day operations. According to the US Bureau of Labor Statistics, the job outlook for medical and health services managers is expected to grow by 32% from 2020-to 2030. This has encouraged many to opt for managerial positions in healthcare and pursue an on-campus or online MBA Healthcare program to gain a deeper knowledge of healthcare industry management. It is not surprising that doctors and nurses are enrolling in this degree to polish their management and business skills to progress in their careers.

A specialized MBA carries the same weight of value as a degree in Medicine or Law. It signifies that you have gone through a rigorous course in specific fields, and your skills have been honed to perfection. While a traditional MBA equips you with general managerial skills, a specialized MBA guarantees that you can handle specific positions in your career and become an expert in your field.

We’ve listed down some of the benefits of pursuing a specialized MBA in the healthcare industry the right decision.

1.     Networking

You can learn from and network with experts in your field. A specialized MBA program allows you to focus on one area of expertise, giving you access to top-notch instructors who are experts in their field. You will also be able to network with other students who share similar interests and goals. This can be especially helpful if you plan on going into business with them later on.

2.     Learn more about your industry

You’ll learn more about your industry. If you’re working in healthcare, for instance, and want to advance. This degree will help you do so by giving you more knowledge about your industry. You’ll also be exposed to new ideas and ways of approaching problems that can help improve your work environment or even branch out into another industry altogether.

3.     Higher chances of getting hired

It will open doors to companies and organizations that want employees with specialized knowledge of an area or industry.

After graduation, you’ll have the edge over other candidates when applying for jobs with these companies or organizations. This is because they know they can trust someone who has studied something specific in-depth instead of someone who just has general knowledge of everything related to their field.

4.     Higher salaries

The US Bureau of Labor Statistics has stated that the average salary of a medical and health services manager is $101,340. These professionals have the potential to earn up to $200,000 in senior positions. This number is much higher than a professional with a simple MBA or their counterparts with an undergraduate degree.

This amount, however, varies depending on where you work and what kind of job you do before getting your degree.

5.     Learn important skills

As discussed above, managerial skills are essential for every job application. Recruiters now seek certain qualities or soft skills in candidates they wish to hire. These include:

• effective decision-making
• excellent communication skills
• leadership qualities
• the ability to work in teams
• problem-solving
• critical thinking.

People who pursue specialized MBA learn all these skills through a perfectly structured curriculum. In addition to higher earnings, people who hold this degree are more likely to enjoy increased job promotions within their organizations — even if their positions aren’t directly related to business education. Whether a manager or a team player, you are bound to grow and excel in your career.

6.     Job security

A specialized MBA signals to employers that you are ambitious and willing to invest time and money into furthering yourself. This degree is designed specifically for every industry and will give you an edge when applying for jobs. Many companies prefer specialized MBA candidates because they know their graduates have been trained specifically for their industry needs.

Employers also know that students who attend these programs have a deep knowledge of their respective industries and an understanding of finance, IT, and management. So if they send them out into the world, they will be better prepared than someone who does not have any knowledge to deal with professionals from different backgrounds. Your vast knowledge makes sure you are always needed!

Conclusion

Coupled with continued education, the knowledge gleaned from a specialized MBA program can help you break into a plethora of managerial and leadership positions in a field of your choice. There are, of course, an infinite number of things that can be learned through this degree to bring great value to a job applicant. It should never be forgotten that a specialized MBA can give graduates an edge over the competition in their field, no matter their position.

In a nutshell, if you’re looking for an advanced degree that will propel your career towards managerial positions within your respective field or help you polish your managerial skills, then a specialized MBA is for you. With the right curriculum, you’ll be more marketable than ever.