Youth Incorporated Magazine

In a world where educational qualifications are given prime importance, it is crucial for all to pursue a master’s degree. It is a master’s degree that owns a high chance of securing a well-paid job to any individual. The most common master’s degree among all other fields is an MBA degree.

MBA undoubtedly helps an individual with his/her career. It provides an in depth knowledge in the field of Business, Finance, HR, IT, and Rural Management. Business today is rapidly booming on a global level which makes it necessary for aspiring entrepreneurs to acquire the business skills. MBA ensures this.

Most people believe that an MBA is a safer option and guarantees a bright future. It can be true for many but need not work in the favor of all.  MBA is one of the most expensive courses to study. Hence unless it tailors perfectly with your career goals, you should give it a second thought. Moreover admission into an MBA institute requires one to have at least 2-3 years of work experience. Candidates with such experience have an edge over other candidates.

If you are one of those who is willing to do an MBA to gain knowledge that this master’s degree but are not sure if you would want to invest so much, you can always find an alternative.

Given below are the 5 alternatives to an MBA degree:

Master’s in Entrepreneurship

If you intend to start a business of your own and don’t wish to work as an employee for any company, which is what most want to do, then an MSc in Entrepreneurship is the right pick for you. This course is especially for those who want to set a business that is rich in innovation, enhance the problem solving skills, create and launch products in the market, hone managerial skills, develop leadership skills, etc. The duration of the course is usually between 12 to 24 months.   

Universities providing the degree:

International:

• ESADE Business School (Spain)
• Cornell University – Johnson Cornell SC Johnson College of Business (USA)
• Grenoble Ecole de Management (France)

Master’s in Finance

A course, whose duration ranges from 12-18 months, is suitable for those interested in money and finance. It is analytical in nature and opens the career fields of banking, industry, insurance, asset management investments, and trading. It educates an individual in the areas of Mathematics, Markets, Financial Reporting, Financial Analysis, etc.

Universities providing the degree:

National:

• University of Delhi (Delhi)
• Regional College of Management (Bhubaneswar, Odisha)

International:

• USC Marshall School of Business (US)
• IE Business School (Spain)
• Essex Business School (France, Singapore)

Master’s in Marketing

Want to drive and increase the sales of your company? Only interested in the marketing aspect of the company? Well then you should definitely go ahead with this degree instead of pursuing the whole of MBA. This degree makes provides the students with specific skill sets that helps them stay up-to-date with the ever changing nature of marketing. It prepares them to adapt to the changing market, teaches them to gauge consumer behavior and act accordingly and also ways to come up with innovative marketing strategies. The period of this course spans from 10-12 months. It is a perfect blend of practical as well as theoretical knowledge.

Universities providing the degree:

National:

• University of Delhi (Delhi)
• KJ Somaiya Institute of Management Studies (Maharashtra, Mumbai)
• Symbiosis Institute of Business Management (Maharashtra, Pune)

International:

• Manchester Business School (UK)
• University of Edinburgh Business School (UK)
• Rotterdam School of Management (Netherlands)

Master’s in Management

A mix of finance, accounting, and entrepreneurship, this course is for those whose interest is not just related to one aspect of business. Although it is a mix of all the important aspects of business, its main focus will be on management. This course enables the students to develop managerial skills, helps in analyzing the business operations, hones logical thinking, and also develops one’s leadership qualities.

Universities providing the degree:

National:

• Shailesh J. Mehta School of Management, IIT Bombay
• Xavier University Bhubaneswar – XIMB (Odisha)

International:

• London Business School (UK)
• ESADE Business School (Spain)

Master’s in International Business

Those keen on learning and understanding global business, global economy, international markets, global finance, and global marketing, and international trade must consider studying master’s in International Business.  This course is usually of 12 months and provides career opportunities as Business Analyst, International Accountant, Global Marketing Manager, International Economist, etc. 

Universities providing the degree:

National:

• Acharya Institute of Graduate Studies, Bangalore
• KG College of Arts and Science, Coimbatore

International:

• University of Florida (US)
• Seattle University (US)