MiM, CFA, PGDM, entrepreneurship programs, and certifications are some of the best alternatives to an MBA degree to boost your career growth and get similar career scope as it.
MBA is a two-year postgraduate management programme that focuses on human resources, finance, marketing, sales, and customer service administration. The purpose of this course is to generate qualified professionals who will be able to manage effectively in today's entrepreneurial environment.
However, this course may not be the correct choice for many of you who wish to pursue other career options or are simply not interested in pursuing an MBA. Several MBA alternatives are available for you, which are explored in the article below.
Top MBA Alternatives to Boost Your Career
There are several courses that you can take after your graduation to be perceived as highly educated in your fields of work. These courses can be a masters degree, an executive degree or a certification program from a widely recognized institution that provides you with the credibility you need to advance your careers. Some of the options for higher education are mentioned below.
1. MMS
MMS or Masters in Management Studies is a two-year post-graduate degree in Management Studies that offers you industry-based expertise in areas such as business, economics, strategy, and management. The course covers essential areas of management and business such as finance, operations, marketing, human resources, etc. You have opportunities to build careers in any of these areas or pursue entrepreneurship with enriched knowledge and strategy building skills.
2. MMM
Master of Marketing Management (MMM) is a two-year master's degree programme that covers all aspects of marketing management, covering essential areas like marketing research from both a theoretical and practical standpoint, industrial marketing and marketing management, client behaviour, and so on. Graduates of the programme are prepared for a wide range of careers in the governmental, corporate, and non-profit sectors. Marketing management, technical writing, sales, consulting, training, and other fields have job vacancies. Computer businesses, shops, energy companies, food producers, construction companies, art groups, and manufacturing enterprises are all places where candidates can find work.
3. PGD Computer Applications
PGDCA (PGD Computer Applications) is a one-year programme for graduate students interested in computer applications. This course is for students interested in learning computer applications in many industries such as banking, insurance, and accounting. This curriculum helps you to get professional computer application skills. This degree combines computer science specialisation with technical, professional, and communication abilities. It also prepares pupils to work in the IT field in the future. The diploma programme equips you with the necessary skills to succeed in the professional world and land a well-paying job.
4. MFM
The Master of Financial Management (MFM) is a two-year programme designed for applicants with a passion for finance, risk management, project planning and control, economic analysis, marketing analysis, auditing, and corporate planning. It is a career-oriented curriculum that is meant to provide students with financial and accounting management skills. It also aids students who lack specialised financial management knowledge and skills in developing a thorough understanding of accounting and finance. You must have strong analytical abilities and a current understanding of computer programmes, in addition to an interest in the relevant areas.
5. MA Economics
A Master of Arts in Economics (MA Economics) is a two-year post-graduate degree that can be completed full-time or via distance learning. Post-graduate students in economics study demand theory and estimation, market structure, production and cost theory, antitrust policy, government regulations, inflation theory, unemployment, capital budgeting, interest rates, and international economics, among other topics, preparing them to be excellent managers. Students generally find work in a variety of industries after graduation and also seek PhD degrees. In the employment market, a competent economist is constantly in demand.
While the above courses are good alternatives to MBA, some of you may simply prefer not to be involved in any kind of education after graduation. They might be eager to start building their career and climb the corporate ladder. You have plenty of options in the fields of their specialization where you can find jobs and start working immediately.
Other options include:
- Entrepreneurship
- Joining a Startup
- Get a Mentor
- Start an Accountability Group
6. Entrepreneurship
Students who have an entrepreneurial mindset and a business idea they would like to develop can look towards entrepreneurship after graduation. Owning a business teaches them more about strategy, finance, operations management, etc than a standard MBA would. It provides them with industry knowledge and gives them the credibility and experience that is equivalent to an MBA.
7. Joining a Startup
If you do not have an entrepreneurial mindset or an idea that can earn you millions, joining a startup is a wonderful opportunity. Startups are notorious for making your employees wear multiple hats, i.e. the ones who join startups would be learning to work in multiple roles and performing various large scale projects, sometimes with direct involvement of the CXOs. This gives you great insight into what builds a start-up and works beneficially for networking opportunities.
8. Get a Mentor
Finding a mentor will help you achieve anything you're trying to achieve. Study the success of those who have succeeded in the career you desire. Now you don't have to ask this person to be your mentor. "Hi, would you like to be my mentor?" The easiest way to find a mentor is to take a course from someone who has expertise in the field of study you wish to explore. For example, you need a mentor who has an MBA or teaches MBA courses if you want an MBA mentor.
9. Start an Accountability Group
Regardless of the alternative MBA options you choose, you should be accountable for achieving your business goals. Joining or forming a group of accountability is a good idea. The group can simply consist of three to six people that meet up once a month to hold each other accountable for their goals.
