A Master of Business Administration often referred to as an MBA, is a graduate business degree that focuses on management. The goal is to prepare students for the more senior roles in business, and this is achievable by covering all areas of business itself, from finance through to human resources.
There is no doubt this qualification has many advantages and ultimately does enhance everyone’s chances of getting that dream job. No matter which part of the country you are looking to settle down in, from Brighton and London to Liverpool and Edinburgh. This is easily seen by using portals such as Jobrapido looking for suitable posts in Liverpool, for example. On the other hand, while these MBAs are still popular, there are now viable alternatives to an MBA programme out there, and we’ve explored three of the best below.
Specialised master’s degree
A specialised master’s degree is perhaps the most sought after alternative to an MBA, and for a good reason. The programmes are shorter and more affordable, two significant advantages over the longer and more costly MBA route.
What’s important when considering a specialised master’s degree is to know what area you want to specialise. Once this has been confirmed, you’ll quickly be able to find the course which perfectly suits your needs. And this can give you a great head start over those doing an MBA, as it allows the individual to finish studying and begin exploring opportunities before any of the MBA students.
The direction of travel is changing somewhat in the world of employment, with more companies now looking to hire earlier career graduates, and this has seen the desire for MBAs reduce dramatically as a result.
Start your own company
The end goal for most of the candidates doing an MBA is to become successful in running their own business further down the line. What the course does, is give students the skills that will help them perhaps make fewer errors along the way. But significant funds and time are needed.
If the end goal is to start a company and make a success of it, an alternative to an MBA is to learn on the job. Yes, you will make mistakes along the way, potentially costly ones, however the experience gained will be invaluable.
The money required to complete an MBA could be invested in your start-up, and by the time an MBA programme has finished, you could be well on your way to success. Sometimes, just doing is the path to take.
Learn on the job elsewhere
Another alternative and one which again is popular, is to find employment at a company which will provide all the training you need to become a success when it comes to business. Today, there are several forward thinking companies to be found all over the UK, especially in cities like Liverpool where there are ambitious initiatives to help business growth.
It is a fantastic MBA alternative as you’re not just learning on the job through experience. There is also the opportunity to gain knowledge from the actual staff around you too, and these guys possess invaluable experience, having been there and done it so many times before. They will also understand the potential pitfalls, and help guide you along the right path.
Therefore, the first port of call could be an entry level position at a reputable company which is renowned for its leadership and management training. From there, you can work your way up the ladder, learning along the way, while earning a wage as well. And, when it feels right to step out on your own, you’ll have the skills as well as the experience to go on and be successful.