For whatever reason, perhaps an MBA is not the right choice for you. There are other ways to enhance your career. Below, we take a look at some of the alternatives to an MBA Programme.
Alternatives to an MBA Programme
Masters in Management
The Postgraduate course in Management (MSC) is quite similar to the MBA. There are succinct differences however. Firstly, you do not require work experience in business or management to take this course. The course is more thematic than the MBA. The work experience aspect to the MBA is why it is regarded highly by employers. The Management course (MSc) is less expensive.
This is becoming an increasingly popular area of study among young people, according to Forbes Magazine. The main reasons for this are:
- It appeals to people who do not have previous work experience
- The difference in cost
It is a worthwhile course as management professionals are required across the world in diverse industries. These diverse industries include healthcare, banking, education, media, hospitality and retail. Graduates can take up roles such as financial managers, marketing officers, operational managers, entrepreneurs, operations analysts or business managers.
Students will require a first-class honour or a 2:1 undergraduate degree, while international students will need to demonstrate a proficiency in the English Language. They can do this by taking the International English Language Testing System (IELTS).
A CFA (Chartered Financial Management) is the most recognised investment credential in the world. It is awarded by the CFA institute, which has 70,000 members in its organisation. It provides a strong foundation of advanced investment analysis and real-world portfolio management skills, providing you with a career advantage.
It is suited to portfolio, research analysts, wealth managers and professionals involved with the decision-making process as well as students who want to work in the investment management system.
It requires you to pass three levels of exams. It is organised into ten general topic areas providing a framework for making investment decisions. These topics include ethical and professional standards, quantitative methods, economics, financial reporting and analysis, corporate finance, equity investments, fixed income-investments, derivatives and alternatives.
Requirements to obtain a CFA degree:
- 4 Years on average to complete the programme
- 6 months of preparation for each exam
- Minimum of 250 study hours (10-15 hours weekly)
From this masters you can go on to have a great career and gain valuable quantitative skills that are in high demand by employers. The course will cover most things from derivatives and investments to mergers, acquisitions and global markets, providing essential information on everything regarding finance. They also provide information on a range of exciting careers in finance at an international level or an academic career via a PhD.
This course normally requires a first or 2:1 with a 60% average from a UK university or an overseas equivalent. You will need a degree in economics, finance or maths. You must have taken a significant number of finance and quantitative courses during your degree. Accountancy is not considered a finance course. You need to be taking a major or specialisation in finance during final year. You must demonstrate a competent background in quantitative skills, econometrics or maths.
Applicants with degrees in Business Administration will also be considered. They must be able to demonstrate a strong background in finance throughout their degree as well as final year major in finance. Most UK universities will give preference to students with a bachelor’s degree in Finance or Economics.
GMAT and GRE are highly recommended for applicants for most accounting and finance related programmes. Fees can be around £30,000 per annum for UK students and international students. They can vary so please consult the website of the university, you are applying to for details.