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