MBA Alternatives

It’s a given that building your skills through education is a smart way to advance your professional career. But the unpredictable nature of our current economy has made strategizing about educational goals trickier. What do you study and train for today when it’s so hard to predict which jobs will be hot, or even around, tomorrow?

Of course, there is always the MBA route, still considered the pinnacle of business education. But for those who don’t have the money, time, or inclination to make that commitment, there are many other useful alternatives to consider. The key to success is to figure out which continuing education offerings are right for you while watching for fields that are growing and emerging.

Choosing the Right Path

The wide range of business-education offerings includes credit- and noncredit courses, seminars, workshops, mini-MBAs, certificate programs, and networking groups. When trying to sort out which is right for you, it’s best to start by thinking about your current situation.

For those who have a job and are positioning themselves for the future, building on a current skill set will likely be the goal. “Because, typically, it’s easier to market yourself with new skills inside an organization,” says Mark Kizilos, assistant dean of executive education at the University of Minnesota’s Carlson School of Management. Things are tougher if you have to market yourself to a new company. “Take someone who has been laid off,” he says. “For them, getting a new credential is probably more important because it can help them gain access to an opportunity where there’s lots of highly skilled competition.”

The Carlson School’s executive education unit offers a variety of noncredit options. Short courses, ranging from two to four days, offer new skills or a fresh perspective on topics such as finance, marketing, leadership, and strategy. Carlson will soon introduce half-day and full-day programs that draw on students’ current experiences in their jobs.

Longer-format options, such as the three-week Minnesota Management Institute (MMI) at the Carlson School, which meets one week per month for three months, are designed to help management-level professionals improve their leadership and general management skills. “Individuals in our MMI program have usually been identified as rising stars in an organization, usually managers or directors of medium or large companies,” Kizilos says. Similar in scope but aimed at employees new to executive roles or taking on new responsibilities, Carlson’s Minnesota Executive Program meets one week per month for four months and explores topics such as organizational strategy.