1. Working in an early stage startup
2. Starting your own business
3. Interning & volunteering in your dream role
4. Masters in a specialized field
MBAs are slowly losing its importance. The ROI is not there as it was 15 years ago. Except for a few roles most of them can be achieved without an MBA.
A good alternative for an MBA is working in an early stage startup. You learn all aspects of business on the job be it Marketing, HR, Finance, Operations or tech. Just 6 months of working in a startup can teach you more than an MBA would in 2 yrs. The best part is you will be paid for it. So you easily save the mba fees & probably learn much more than an MBA can teach you.
Starting your own business can not just give you exposure to all aspects of business but it will help you build skills for leadership too. You can play roles of CEO, CMO, CTO, COO, CPO & learn fast. You could play your dream role easily even without an MBA. You are also forced to change yourself. You can bootstrap a business with little money & can still save most of your MBA fees. If you fail you learn more than if you succeed. If you taste success then you may never need to work for someone. You can easily find your dream job after this.
Interning & volunteering for your dream role can help you land that role you want. You pick relevant skills quickly. It costs nothing & you also find out if you are fit or interested for your dream role.
Doing a specialised masters is probably many times better than an MBA especially if you are clear on your target role. Specialized skills are more in demand today. Also you may save 50-75% of your fees of the MBA.
What do you think?
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