Change is the only constant in our lives, and that applies to business schools too.
Subservient to what the market wants, this means business schools in 2018 experienced significant shifts in demand from students and employers. The traditional two-year MBA, costly and time-consuming, is losing popularity to a new crop of alternatives.
From specialised Master’s in Business to graduate certificates, the options available are more than you think – and growing. And when you are beset with choices, what better way to decide than a quiz (and Study International‘s coverage of business courses) to help you along?
1. How many years of business experience do you have?
2. Do you want this postgrad degree to get you to that specialised business role in a particular company or organisation?
3. Is your primary goal to kickstart your startup idea?
4. How much time are you willing to invest in this?
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5. Will you have other commitments while undergoing these study programs, such as a full-time or part-time job, family, etc?
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6. How much are you willing to spend?
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7. Which of the following is most important to you?
Which MBA alternative is best for you?
Specialised Master's in Business
Whether it's finance, business analytics, strategic marketing or wealth management, you want that deep expertise that will lead you to that specialised job role. Lucky for you, what you want is also what the market now demands, which means you have a wide range of business schools to apply to.
Master's in Management (MiM)
MBA's largest competitor, the MiM, may soon overtake its more popular cousin. Most programs have a core of general management education in common, but they otherwise vary widely. Options abound, with program duration from eight to 36 months and available in 27 countries worldwide.
Time is precious and you've got none to waste. In that case, the postgraduate diplomas (PGDips) and certificates (PGCerts) would serve you best. It's shorter, cheaper and more flexible that the orthodox MBA, without losing any of the difficulty and reputation.
Entrepreneurship Development Programs
College was over ages ago and you have no intention to go through grad school. Entrepreneurship Development Programs, like those offered by MIT, typically last a week and cost a fraction of the MBA. The best part is it's got what you really need: How to get your business plan up and running.