Top alternatives to an MBA program

Pursuing a Master’s degree is necessary for you to advance, widen your perspective, and profession, boost your organizational skills, help you manage your time effectively, and punctually meet deadlines. There are various MBA alternatives that can easily acquired without any prior work experience and give you a good return on investment.

A few are mentioned below that you can look up to:

1. Masters in Management (MiM)

Masters in Management is a postgraduate program that provides you with advanced general management acumen. It is comparatively a cheaper alternative to an MBA program as it requires less time and investment. Below are a few benefits of the MiM program:

Benefits

1. Masters in Management is an internationally oriented program that allows you to pursue management degrees from foreign countries with comparatively lesser investment. You can meet people of different backgrounds and form extensive networking that will help you develop your personality and improve your communication skills.

2. When it comes to working experience, it is very little or none required to join the MiM program. So, this brings you an advantage as you can begin your master’s immediately after completing your bachelor’s degree. However, in some colleges, a maximum of 1-year of employment is required to join their MiM programs for that you need to have some prior experience.

3. Your course will be versatile as you get to learn from electives on e-commerce, business ethics, the psychology of money, etc.

2. Masters in Engineering Management (MeM)

Masters in Engineering Management exclusively helps you bridge the gap between technology, engineering, and management. This program is specially designed for engineers or students who have some technical background. MEM is perfect for these students who wish to hone their management skills.

Benefits

1. Being an engineering student, if you are willing to go for a non-technical master’s degree, then this is the perfect way for you.

2. There are many reputed colleges out there, like Cornell University, Dartmouth College, and Stanford, that offer this degree without any prior work experience.

3. The degree’s cost and duration are comparatively lower than other master’s degrees you will find.

4. You will learn many multi-disciplines that focus solely on improving your managerial as well as technical skills.

3. Master in Finance (MFin)

If you looking for career opportunities in areas of international finance and business sectors, then a Master in Finance is the right program to pursue. Whether you are a recent graduate or a finance professional looking to expand his/her finance knowledge circle, MFin becomes your go-to degree as it provides the requisite knowledge and practical experience.

Benefits of pursuing MFin

1. The more the Finance and Business sector is widening, the more it gives the best job opportunities for the MFin students.

2. You get into the top managerial position with a well-paid salary. Also, you get to learn about blockchain technology and make it your future as a crypto analyst or crypto fund seller.

3. This program will give you a master’s in finance! The reason is that its curriculum consists of finance, accounting, marketing, and supply chain management, which will boost job opportunities in different sectors for you.

4. Masters of Science in Business Analytics (MSBA)

MSBA program will guide you on how to transform business intelligence into business insights. As organizations collect tons of data on a regular basis, the requirement of business analysts widens as they know how to handle that data accurately. Therefore, if you have the inclination to turn the raw data into valuable assets and hone these skills more, then MSBA is definitely the right degree for you.

Benefits

1. Post an MSBA program, you will be able to transform data into the right context, as mentioned previously, the data is increasing at a rapid pace in businesses, so to handle that proficiently, the business will require experts who are better than an MSBA graduate who has acquired the requisite skills. 

2. While pursuing this degree, you get to learn an in-depth coding language, data mining techniques, data quality management, and analytical modeling. With the increasing number and importance of digital mediums, this program will benefit you in grabbing high-paying jobs in the business analyst world.

Conclusion

This article provides the top alternatives for an MBA degree that you can do. However, there are other programs as well that you can think of pursuing depending on your future goals and existing interests. If you want to hone your managerial skills with the master’s program, then 2021 is the right year to start as due to COVID-19 many individuals have lost their jobs. By upskilling yourself, you can secure a good-paying job in this staggering economy.

Author Bio:

Abhyank Srinet is a passionate digital entrepreneur who holds a Master in Management degree from ESCP Europe. He started his first company while he was still studying at ESCP, and managed to scale it up by 400% in just 2 years.

Being a B-School Alumni, he recognized the need for a one-stop solution for B-School to get in touch with schools and get their application queries resolved. This prompted him to create MiM-Essay, a one-of-a-kind portal with cutting-edge profile evaluation and school selection algorithms, along with several avenues to stay informed about the latest B-School Updates