In Finance, MBAs Aren’t the Only Way to Get Schooled

There’s a reason not every finance worker has an MBA: They’re challenging, time consuming, and expensive to earn. Even part-time programs can leave people strapped for time and funds, and the degree can take years to earn. While an MBA is a great tool to have in your career arsenal, there are lots of options to explore if you don’t have the time or extra cash to fund one.

With so many people in the finance world eager to enhance their careers, many schools have special programs that cater to learners who aren’t ready to land their full MBAs. Many workers don’t want to commit to an MBA program not just because of time or expense, but because they are looking for more specific, tailored learning opportunities that will pay off in the short term.

For example, you may be interested in fulfilling an immediate need, such as understanding how to relate to investors. Think about why you’re most interested in continuing your education and find a program that matches your goals. You might want to brush up on old skills, illustrate your commitment to your career, or focus on earning a new set of skills that you can start applying to your career immediately. You may also be interested in paving the way to a leadership position or one that includes more responsibility.

When going over options for continuing education programs, think carefully about how much time you have to devote to classes and homework. You don’t want to overextend yourself, and many programs range from several sessions over a few days to classes that run for a few weeks or months. Whatever time you have to give, there’s likely a program that can fit your needs.

Talk to co-workers about what you’re looking for. It’s possible that they want to learn the same things in the same format. If enough workers within a company or department are curious about learning more about finance, marketing, or management education, your company may sponsor your training. Find out who handles corporate training at your company and put together some information about how it would benefit your division and the business. Describe what’s missing in your group and how training would help.

While an MBA is arguably the strongest way to enhance your finance career, shorter-term programs still have tremendous value. They can offer more flexibility with a lower cost and the chance to apply your new knowledge immediately.