Specialized MBAs Grow in Number

Such programs balance traditional courses with workshops and services imparting wide knowledge of one industry. Here's a look at some offerings

by Francesca Di Meglio

More business schools are offering specialized MBA programs. Whether they come in the form of an Executive MBA degree in a particular industry or a separate certificate earned in addition to the MBA, they all have a common aim: to give students a foundation in general management, from basic finance to strategy, and an in-depth knowledge of a particular industry.

Some experts argue that specialized MBAs are the wave of the future. Nigel Banister, chief executive of Manchester Business School Worldwide, says specialized MBA programs help those in a certain industry make better use of their time and get ahead more quickly in their careers. And companies see the value in hiring someone who is already a specialist. "Recruiters are begging for more," says Jim Riordan, director of the MBA in sports management at Florida Atlantic University. "They want people to be trained for what they'll be doing on the job."

Industry insiders tend to love these programs, while academics remain skeptical. The courses are often taught by adjunct professors who have full-time jobs in the field, and there's a focus on hands-on work as opposed to theory. That's why just about everyone agrees that the best of these specialized programs balance core general management courses required by traditional MBA programs with electives, workshops, and career placement services that give a breadth of knowledge in one industry.

Students who are committed to a particular field and know exactly what they want to do with their post-MBA life are often perfectly suited for specialized degree programs. If that sounds like you, take a look at our round-up of a few of the more interesting MBA-plus programs:

Flying High

HEC School of Management in France is teaming with Concordia University in Canada to launch an MBA program in January, 2008 that will be taught in English but is intended for Europeans in the aviation industry, who must face deregulation and an ever-changing market. The program's initiators hope to break down the barriers between executives in various functions across the industry. The 20 to 25 participants anticipated for the program's first year will get a core Executive MBA education with a major that focuses on international civil aviation. In the future, says Georges Rochas, aviation development manager of HEC, the school may also consider covering defense aviation, a sector for which there is growing demand. For now, however, the organizers want to slowly build a community and curriculum.

Constructive Construction

Even bosses in basic industries are seeking highly specialized MBA degrees. A professional organization of the construction industry in England approached educators at Manchester about developing a curriculum that would help leaders in the industry become more professional, trained managers. Now executives in the construction business can attend a specialist MBA program at the school. Of the 100 or so executives participating in the year-old program, about half are from England, one-quarter are from the United Arab Emirates (mostly from Dubai, which is growing rapidly in the world of construction), and one-quarter are from other countries. Banister predicts that those who support this program will have excellent retention rates and as a result will experience improved business.

Real Deal

About five years ago, some educators noticed that MBAs were good at running numbers but were not informed enough to cash in on the real estate boom. MBA students at Berkeley's Haas School of Business can work toward a real estate certificate.