For decades, the gold standard has been the MBA or a Master’s of Business Administration. With 14.3% of people holding an advanced degree (an all-time high, up from just 10% a decade ago), many people wonder whether getting an MBA is still worth the investment.

If you want to gain more knowledge, but you aren’t sure an MBA is right for you, there are some excellent MBA alternatives available. Keep reading to learn more about the best MBA alternatives for executives and rising leaders.

Do You Even Need an MBA in 2022?

While getting an MBA is a great decision for some, it may not be the best choice for everyone. This is especially true of full-time MBA programs, which can take over two years to complete on average and cost up to $160,000. There are more flexible options, like part-time or online programs, but they can still require you to make a years-long commitment and shell out tens of thousands of dollars.

But what if you don’t have the time or resources to get an MBA? Or what if you’re looking to expand your knowledge, but you learn after doing extensive calculations that an MBA program just wouldn’t be worth the investment for you?

Plus, a traditional MBA involves plenty of outdated case studies, sitting in lectures, and reading from textbooks. All of these activities can enrich your learning to a degree, but many of the lessons provided in degree programs simply can’t keep up with the real-world pace of business.

At Athena Alliance, we believe you can get accelerate your executive development, with enriching education and real-world experience, without investing so much time and money. Here are some of the best MBA alternatives available to you right now:

Mini MBA Programs

Mini MBA programs are a more bite-sized version of the full-on MBA program. Mini MBA programs can last anywhere from a week to a few months, allowing operating executives to take less time off from work—if any at all. They also tend to focus more in-depth on particular topics in their chosen field, such as digital marketing or project management.

Mini MBA programs cost substantially less than regular MBA programs, and some companies or educational institutions offer mini MBA programs for free! While you won’t obtain a degree in the end, you will gain a solid base in business administration that you can list on your resume.

Mini MBA programs are a great option for people who want to further their education but don’t necessarily have the time, funds, or flexibility to take on a full MBA program.

MBA Certificate Programs

For those who are truly on the fence about an MBA program, MBA certificate programs may be the best choice. MBA certificate programs usually last a year instead of two, and credits taken in the first year can typically be applied to a regular MBA if you decide to enroll. If, on the other hand, you would rather stick to the year of advanced education, you still come out with a certificate that can help you access more jobs and higher pay. In fact, some estimates show that those with a graduate certificate can expect a pay increase of 13-25%.

MBA certificate programs often focus on more specific topics, like human resources, accounting, or project management, which can give you a better background in your topic of choice. This can help you stand out from the crowd, especially when applying for jobs in that field and when competing for a position against candidates with a more general background.

MBA certificate programs are a great option for those who want further education and can commit to approximately one year of study. They are also an excellent choice for people who may want to pursue an MBA upon completion of their certificate but want to obtain a graduate certificate first in case their plans change.

Open Enrollment Online Courses

Open enrollment online courses also called massive open online courses (MOOCs), are courses that are open to nearly anyone who wants to take them. They are entirely virtual and can be completed at one’s own pace. This is an appealing option, as students only enroll in classes that interest them and can take as little or as much time as they want to complete.

These courses sometimes result in a certificate, but not always. They are most beneficial for those seeking new knowledge in their current field, or for those wanting to try out a new field before they dive in headfirst.

Accelerated MBA Programs

While full-time MBA programs typically take at least two years to complete (split across at least four 16-week semesters), many universities now offer accelerated MBA programs. Accelerated MBA programs often consist of several five-week or eight-week sessions that pack the same material into shorter, more concentrated “semesters”. Accelerated MBA programs can take place in person, but it’s more common for them to be online.

Programs that offer accelerated MBA programs sometimes offer generous credit transfer policies, meaning classes you’ve already taken may count as credit toward your degree. This can save you plenty of time and money, and save time sitting through lectures on topics you have already learned about.

These programs might be the best choice for people who truly want to complete an MBA, but don’t necessarily have two years to dedicate toward their degree. They require rigorous focus, but they may be the most cost-effective and efficient way to get your MBA.

Athena as an MBA Alternative

Athena offers an alternative to the MBA for executives who are curious, ready to learn, eager to connect — and have no time to spare (and at a fraction of the cost). As Athena Founder, Coco Brown explains, Athena offers a “Netflix for business” where executives and board directors can browse the topics that matter most as they rise in their careers and scale their companies; where rather than surfing categories like “family” or “drama” you’re surfing “Preparing for IPO”, “Executive Financial Acumen”, “The CEO’s office”, and so on. Everything from funding, to building, to operating, to governing a business.

Instead of unneeded coursework, you can pick and choose which courses most apply to your goals, and go at them at your own pace. Athena also offers powerful networking tools and 1:1 coaching with world-class executive and board coaches to connect you with other women in business and create lasting professional relationships.

If you can’t opt out of two years of work and don’t want to pay tens of thousands of dollars for an MBA program, consider Athena Alliance as your MBA alternative.

On-demand executive education

If you are looking to advance your career, Athena Alliance is here to help! Learn how Athena connects women leaders with the business insights and executive education they need to succeed—at a fraction of the cost of an MBA.

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