A Masters’s in Business Administration (MBA) degree can help one to go the extra mile when it comes to advancing their career. It is a logical step for one to pursue an MBA degree if they are looking to become an entrepreneur or a high-level executive in the corporate world. In fact, most organizations prefer candidates with an MBA for management and leadership positions since the degree ensures that an individual has all of the required skills it takes to be an efficient strategist.
An MBA covers a variety of topics including business management, economics, communications, entrepreneurship, strategy development, and accounting, among others. But an MBA from a top business school can be a substantial expense for recent graduates and can also take up a lot of time for working professionals.
What if there was a similar program that was a condensed version of a traditional MBA that imparts the same knowledge while taking up very less time and costing only a fraction of a full-time MBA’s tuition fee?
Here’s what we’ll look at today:
What is a Mini MBA?
A mini-MBA, sometimes known as a micro-MBA, is a concentrated version of a traditional MBA that has less than 100 credit hours of study (most courses have around 40 credit hours of study). Most mini-MBAs are professional-centric – meaning, they are usually held online and at times that are most convenient to working professionals or enterprising entrepreneurs. Depending on the university or the type of program that an individual chooses, the mini-MBA could stretch anywhere between a week or a couple of months. A typical mini-MBA could cost anywhere between USD 1,000 to USD 4,000 depending on the university. If one is lucky, they might even find a free mini-MBA course online! Most students who are looking to join a mini-MBA program may find that the course fee could easily be covered by scholarships.
A mini-MBA is not a degree. It is more of a course that covers major MBA topics including accounting, management, finance, and entrepreneurship, and provides professional credentials to those who sign up for a mini-MBA. It caters to those in the industry who are looking for a solid background in business and management but do not have the time to go back to university for a full-fledged MBA program. Think of it as a fast-track course that condenses two years’ worth of information into less than 100 hours!
Is it worth it?
Mini-MBAs provide an introductory take on what is happening in the business world – especially with regard to finance, accounting, and business management. It helps those without a background in business management to find solid ground for firm footing. A mini-MBA explores key concepts, helps one to get certified in very less time, and can improve one’s ability to earn more in the corporate world. To young graduates and students, the course may not be a substitute for a full-fledged MBA degree but more of a course that can set their fundamentals right if they only need a superficial understanding of what business management is like. It can also help one to understand whether or not they should pursue an MBA degree. The course can be an alternative for those who are already a part of the industry and are willing to take advantage of the learning opportunity to upskill themselves. Students must be prepared for the onslaught of information that can hit them at full speed because of the way the course is designed.
However, it is worth noting that an MBA cannot always ensure a successful career. On the contrary, a successful career is the byproduct of hard work, creativity, one’s ability to strategize, and good business acumen and is most certainly not dictated by one’s academic prowess. Nonetheless, having a degree can improve one’s chances of building a better career amongst peers due to the strong foundation one can hope to build.
On our blog you will also read more about cost of studying MBA abroad.