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5 Cheaper And Smarter Alternatives To An MBA

5 Cheaper And Smarter Alternatives To An MBA

There are multiple professions that students want to pursue after completing their studies. The demand of every field is different. Some require extensive studies in one particular subject, while others involve more general skills and education.

An MBA is one of the most highly sought-after degrees. Although the cost of an MBA degree varies, a two year degree can leave one with a debt of $100,000-$200,000. Of course, when we talk about the expenditures, it is not only the tuition fee but also the accommodation cost and other peripheral expenses. You also have to take note of the opportunity cost – how much should you be earning right now, versus how much you’re not working because you’re busy pursuing your masters.

Thus, if your profession does not exclusively and specifically demand an MBA degree, we would suggest that there are much smarter alternatives available in the market that can provide you quicker and much better returns.

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If you are currently considering your various options, read on.

1. Go for a certification

In today’s world, a much better and practical approach would be to go for a certification rather than pursuing an MBA degree. There are multiple reasons for this.

First of all, the cost of completing a certification is way less than a two-year MBA degree. Also, it provides you more focused studies as compared to a general MBA program. Depending upon your field, you can choose a certification and, last but not the least, it can be completed in much lesser time than two years. This way, you can start working and increasing your cash flow.

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2. Build up your sales skills

No matter what you decide to do in your career and life and how far it apparently seems from sales, you will need amazing sales skills. From landing a job to getting promotions to dealing with clients, these are the most useful skills that you can acquire.

Instead of investing in an MBA degree which will hardly offer you few sales courses at the most, build up your sales skills through many sales training programs available in the market. You can also sharpen your skills by reading, watching videos, attending workshops or best of all practicing by getting involved in a sales related job. After all, without any sales in a company, there will be no profit.

3. Become an entrepreneur

Rather than working for someone after spending a lot of money, it would be great if you can invest it in a business instead. The earlier you start, the better it would be. Make sure that the field is something that you are sincerely passionate about, though!

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4. Work for a successful person who can become your mentor

A degree cannot teach you what an experienced person can. The real-life experiences they share can go a long way in your own success. To find a great mentor, try to look around for successful people in the industry of your interest. This can be easily done thanks to technology today. Use LinkedIn. Join professional organizations in your community and search for leadership opportunities. You can also volunteer to work for such a person, or sacrifice greater pay upfront so you can earn priceless wisdom over time.

5. Learn another language

Sound impractical? It is not. A person should have no problem achieving fluency in two years if he or she is willing to spend a few hours per day. China has become a significant force in world economy, so Mandarin can be one of the obvious choices. It can give you a huge business advantage.

So, give these alternatives a closer, deeper dive and you may end up deciding that one of these actions can take you up the success ladder more quickly than an MBA.

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Featured photo credit: Salford Business School launches unique open access online course/University of Salford Press Office via flickr.com

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Lianne Martha Maiquez Laroya

Lianne is a licensed financial advisor, Registered Financial Planner, entrepreneur and book author.

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Last Updated on August 10, 2020

10 Things You Should Do If You’re Unemployed

10 Things You Should Do If You’re Unemployed

Regardless of your background, times today are tough. While uneven economies around the world have made it incredibly difficult for many people to find work, the recent COVID pandemic has made things worse.

Regardless of age and qualification, stretches of unemployment have affected us all in recent years. While we might not be able to control being unemployed, we can control how we react to it.

Despite difficult conditions, there are many ways to grow and stay hopeful. Whether you’re looking for work, or just taking a breather between assignments, these 10 endeavors will keep you busy and productive. Plus, some may even help push your resume to the top of the next pile.

Here’re 10 things you should do when you’re unemployed:

1. Keep a Schedule

It’s fine to take a few days after you’re finished at work to relax, but try not to get too comfortable.

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As welcoming as permanently moving into your sweatpants may seem, keeping a schedule is one way to stay productive and focused. While unemployed, if you continue to start your day early, you are more likely to get more done. Also, keeping up with day to day tasks makes you less likely to grow depressed or inactive.

2. Join a Temp Agency

One of the easiest ways to bridge the gap between jobs is to find temporary work, or work with a temp agency. While many unemployed people job hunt religiously, rememberer to include temp agencies in the search.

While not a permanent solution, you will be in a better position financially while you search for something permanent.

3. Work Online

Another great option if you’re unemployed is online work. Many different sites offer a variety of ways to make money online, but make sure the site you’re working for is reputable.

Micro job sites such as Fiverr and Upwork as well as sites that pay for you to take surveys, are all quick, legitimate options. While these sites sometimes offer lower pay, it’s always better to move forward slowly than not at all.

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Here’s How to Find and Land a Legit Online Work from Home Job.

4. Get Organized

Unemployment is an excellent opportunity to get organized. Embark on some spring cleaning, go through old boxes, and get rid of the things you don’t need. Streamlining your life will help you dive head first into the next chapter, plus it helps you feel like your unemployed time is spent productively.

Try these tips: How to Organize Your Life: 10 Habits of Really Organized People

5. Exercise

Much like organizing your life, another good way to keep yourself enthusiastic and healthy is to exercise. It doesn’t take much to get slightly more active, and exercise can help you stay positive. Even a walk around the block a few times a week can do a lot for keeping you motivated and determined. If you take care of yourself, you can make the most of this extra time.

6. Volunteer

Volunteering is an excellent way to use extra time when you’re unemployed. Additionally, if you volunteer in an area related to your job qualifications, you can often include the experience on your resume.

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Not only that, doing good is a true mood booster and is sure to help you stay optimistic while looking for your next job.

7. Improve Your Skills

Looking for ways to increase your job skills while unemployed is a good way to move forward as well. Look for certifications or training you could take, especially those offered for free.

You can qualify more for even entry level positions with extra training in your line of work, and many cities or states offer job skills training. Refreshing your resume, and interview and job skills may make your job hunt easier.

8. Treat Yourself

Unemployment can be trying and tiring, so don’t forget to treat yourself occasionally. Take a reasonable amount of time off from your weekly job hunt to recharge and rest up. Letting yourself rest will maximize your productivity during the hours you job search.

Even if you don’t have extra money for entertainment, a walk or visit to the park can do wonders to help you go back and attack your job hunt.

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9. See What You Can Sell

Another good way to bridge the gap between jobs is to sell unused possessions. eBay and Amazon are both secure sites, but traditional garage sales are a fine option too. Sell off a few video games, or some electronics, for some quick and easy cash while you figure out a permanent solution.

10. Take a Course

Much like training and certifications, taking a class can be a good way to keep yourself sharp while unemployed. Especially when you’re between jobs, it can be easy to forget this option, as most courses cost money. Don’t forget the mass of free educational tools online: 25 Killer Sites For Free Online Education

Keeping your brain sharp can help you stay focused and may even help you learn some new, relevant job skills.

The Bottom Line

While unemployment numbers are still high, there are many things you can do to better yourself and move forward. While new skills to aid your job hung might seem out of reach, there are plenty of free ways to get ahead, online and off.

Additionally, don’t forget that taking time for yourself can do wonders for keeping you productive in your job hunt. While it is a challenge, don’t give up–being unemployed can offer you extra time to better yourself, and possibly grow more qualified to find work.

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Featured photo credit: neONBRAND via unsplash.com

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