Master of Business Administration (MBA) is one of the most common degrees pursued all over the world. From fresh graduates to professionals, many want to do an MBA at some point in their lives. It opens a scope to a lot of career opportunities and MBA jobs are not only in demand but also one of the highest-paid jobs anywhere in the world.
If one has an interest in the world of business and management, then by doing an MBA they did what was right for them. It gave a new meaning and perspective to their career and the specialization on the subjects gave them in-depth knowledge about the area of their interest.
Despite this, just an MBA degree might often fail to give someone the success they want, as they might feel that they need deeper knowledge into specific subjects. So, even after an MBA, one might feel like they need more insight, skills and knowledge about specific areas, which will help them to get your dream job. Therefore, here are the top 5 courses anyone can consider doing after getting an MBA degree. These courses can boost the earning potential without interfering much into professional life.
- Chartered Financial Analyst (CFA): If someone is interested in an area of financing, then this is a good course for them. This is a difficult course and requires one to put several hours into studies. The CFA exam level is difficult and the CFA official website itself says that an average of 300 hours of self-study is required to clear each level. On average, a total of 4 years is required to clear all the levels.
To be eligible to sit for the first exam one needs to have a bachelor's degree. Final year students can also apply but for moving to the next level, they should have completed their graduation degree and updated the information. The job areas include corporate finance, investment banking, portfolio management and equity research.
- Financial Risk Manager (FRM): As per the name, this course is for those who want to take up a career in risk management. There are 2 levels involved in this course. This is an internationally recognised certified exam. It is offered by the Global Association of Risk Professionals (GARP). The exam is held twice a year in November and May. Candidates that clear the Part 1 exam, need to clear Part 2 within four years and should have a minimum of 2 years of work experience.
The different types of risks included in the study are Foreign exchange risk, Volatility risk, Inflation risk, Legal risk, Sector risk, Shape risk, Liquidity risk and Business risk. It does not have a wide range of career options like CFA but is one of the highest-paid jobs globally.
- Certified Information Systems Auditor (CISA): It is internationally recognised and is awarded by the Information Systems Audit and Control Association (ISACA). IT infrastructure is a rapidly growing area, with almost every industry being dependent on it. These growing areas need professionals who can monitor information technology and business systems. This course helps to grow knowledge in this area.
After clearing this exam one needs to have minimum work experience in order to get the certification. The CISA exam has a 3 time period each year. February to May, June to September, and October to January. It is a 4-hour exam. The job areas after this course include performing audits for the company?s information technology, managing information and technology, keeping systems updated, etc. It is a 4 hour-long with 150 multiple-choice questions.
- Project Management Professional (PMP): This course is offered by the Project Management Institute (PMI), that offers various sources under project management. PMP is one of them. To be eligible for the certification, one needs to have 4500 hours of leading and directing projects in addition to the four-year bachelor?s degree and 35 hours of project management education. In case someone doesn't have a 4-year degree and only has a high school diploma, then they need to put in extra hours in the leading and directing projects.
The syllabus includes interdisciplinary and rigorous research in different business management and public policy. The exam is for 4 hours and has 200 multiple-choice questions. It is a globally recognised certification and puts one in a very good place for recruitment as a project manager. It automatically boosts their work standards and this field gives them a higher salary compared to the others in this field.
- Doctor of Business Administration: It is a doctorate degree for advanced research and study in the business administration field. This course will help to have the knowledge and skills which will guide to convert what one has learnt in theory and apply them on practical grounds. It will help one to hold the top positions in any reputed university teaching or in the corporate world.
The course provides networking opportunities to the students that can be pursued along with work. This degree is equal to a PhD in administration. A person with this degree can teach at any university and at the same time conduct research work in any organisation. It is one of the tightest courses to do after an MBA but without a doubt, one of the highest-paid jobs globally.
Apart from all the courses mentioned above, there are a lot more courses that one can take up after they are done with their MBA degree. One can go for a 2nd MBA degree from an internationally reputed business school or a certified manager in production and inventory. Or maybe one can just take a personality development course which will help them to gain confidence in their job interview after completing MBA.
All these courses require an amount of hard work and dedication. The important thing is to understand what one wants to do and what is their area of interest. MBA opens doors to enormous job opportunities and selecting one's specialization from there will help one to understand what course suits them best after the degree.