Hello Diksha,

Interesting question. Before I answer your query, let me tell you in brief what event management is all about.

You might have heard about big events or shows conducted like say Singing competition finals or some contests finals etc. These events needs to be glamorised before it reaches the audiences. This is where Event Manager steps in. Right from the props to be used, to the stage to the lighting, to the functioning of the cameras to every arrangements like extras to be used etc  is the brain child of the event manager. Thus an Event manager is the brain child of conducting and arranging an event successfully. 

Please note, Event Manager is a freelance business. One needs to have huge contacts right from people who supply materials for the props, to stage decors to lighting to cameras etc. Also they need to be in touch with different artists like singers from different genres to musicians to dancers to other artists like magician to gymnasts etc. These extras add charm to the show. Apart from contacts, you also need to have a portfolio of your work, or designs that you feel suitable for events ready to show the client. 

As an Event manager, a person wanting to conduct an event say for eg, a wedding. The person will contact the event manager, who would then in coordination with his client decide the entire event and estimated budget. Once agreed, the event manager then gets on with his work. Thus you can see the event manager is a freelancer in this field. 

Now coming to your other question. Scope in terms of comparison with other fields. Please note, Event management is a different genre and hence cannot be compared to other MBA specializations. From the above, it must be clear the role of a event manager. Now when it comes to say a Finance specialization, the person would be employed in an organization of his choice, and definitely must have knowledge in his respected domain. He if an extrovert, will be in touch with his friends and colleagues but would not need them for his business purpose like an event manager.

In terms of scope, you might have heard the term, "Where there is a will there is way". Scope is something an individual builds over a period of time with his sincerity and dedication to his work, not forgetting ones potentials or capabilities. Just adding to it, in terms of Event management, it being a freelance job, one initially would have to struggle to establish themselves. May be you would face rejections initially and would have to begin small, or may have to join hands or work with someone well established, and build up your contacts. Then you can slowly after few years begin on your own. 

Whereas in other specializations, though initially you begin as a trainee, but within 6 months to a year, as per your capabilities, you move up the ladder accordingly. 

Hope this helps.

Wish you good luck...