Specialized MBAs Grow in Number

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The program teaches students general management tools and provides a curriculum that includes financial analysis, real estate finance and securitization, project development, and e-commerce strategies. "[Students] don't just set up Excel spreadsheets and run numbers," says Nancy Wallace, a Haas professor and chair of the Haas Real Estate Group. "They understand that where you put the door on the loading docks and how you use the [construction] site all matters." Because most real estate employers have no official human resource or recruiting programs, the school offers specialized career placement services for students on the real estate track.

A Hospitable Bunch

At Johnson & Wales University, which has four campuses around the country, the hospitality industry has always taken center stage. The seeds of an MBA program were planted in the mid-1980s, when the school began offering an MS program in hospitality. By 1991, educators at the university decided that an MBA was more appropriate. Since then, about 180 MBA students each year have earned a specialized degree that trains them to serve the global tourism industry in event management, hospitality finance, and hospitality marketing. Recruiters include major travel companies and hotels such as the Marriott (MAR), Hilton (HLT), Hyatt , and Four Seasons (FS). Having a specialty is critical to career success nowadays, says Caroline Cooper, a professor at Johnson & Wales. Teaching her students the language and nuances of the industry is a primary goal. She says it's necessary to do this in the masters course work because students can no longer pick up on all these details in a four-year undergraduate program.

Team Captains

Separating sports fans from sports managers is the most difficult part of deciding who should be admitted into the Florida Atlantic University MBA in sport management program. Many applicants, says Riordan, mistakenly think that they'll be watching Derek Jeter take batting practice all day if they enter this field. That's simply not the case. The school never accepts more than 50 students, and they all have to prove they are passionate and committed to being in the sports business as agents, team managers, negotiators, and the like. Since 2000, students in this program have been learning about sport law, management of intercollegiate athletics, and entertainment (because the gap between sports and other entertainment is narrowing, says Riordan). The unique part of this MBA is its faculty. "If they don't work it during the day, they don't teach it here at night,” says Riordan. Alumni include a marketing coordinator for the Miami Heat, a community relations coordinator for the Miami Dolphins, a group ticketing representative for the Anaheim Ducks, and a director of merchandise at Roger Dean Stadium in Jupiter, Fla.

Movie MBAs

In May 2007, the Cass Business School at City University, London kicked off a new MBA program for those with an interest in the film business. Participating students have an average of 12 years experience working in film, television, music, or advertising. The reaction so far has been extremely positive, says Terry Ilott, director of the Film Business Academy at Cass. Industry insiders in Europe yearned for a program that accelerated the learning process for those in the film business—and Ilott says his crew tries to do just that. Students come to campus one weekend (from Friday to Monday) every month. In the first year they focus on the generic MBA core, but in the second year they choose from a range of electives specific to the film industry. "This program does the industry a great favor and does students a great service for their career development," says Ilott. He adds that what makes specialty programs like this one so special is that they bring people to the MBA who wouldn't normally consider the degree.

Di Meglio is a reporter for BusinessWeek Online in Fort Lee, N.J.