Exciting Alternative MBA Career Paths

alternative courses for mba

As the job market toughens its requirements and inflation rears its ugly head, a lot of students are looking to set themselves apart from the crowd and emerge as true leaders. What matters in the lieu of this rat-race is to build one’s educational profile with courses that are distinct and specialized.

Courses like MBA might not be enough as there’s plenty of fish in the proverbial sea. This is why increasingly more students are opting for alternative degrees to MBA. An alternative to MBA degree is any course that offers similar (or better) placement opportunities as an MBA degree with other aspects factored in.

 

Risk Management: An Alternative 

Risk has been as intrinsic a part of life as business. From times immemorial, ever since man first learned to discover and invent, business, trade and commerce became inherent aspects of human life. Similarly, risk became just as inherent an aspect. A risk is any element or circumstance that adversely affects a business in terms of productivity, profitability and reputation. Risk management, then, is the process of predicting, analyzing, observing, archiving and mitigating these risks in a manner that ensures the achievement of a firm’s objectives.

Risk management is not just a skill to be learnt for working professionals; any student aspiring to become an entrepreneur would do well to be well-versed with the nitty-grities of risk management.

A career in risk management would work well as an MBA alternative and hence, students must look towards the PG in Risk Management by Global Risk Management Institute.

 

PG in Risk Management by GRMI 

Founded by a Board of Governors comprised of academic veterans, industry experts and corporate leaders, Global Risk Management Institute is the pioneer of risk management education. The institute functions on decades of industry experience and status quo research that points out a distinct and jarring gap between the requirements for trained risk professionals and the actual supply of such professionals. Such a gap was attributed to the lack of educational courses targeting the domain. With this in mind, the PG in Risk Management was ideated, formulated and structured.

The course is an extensive, one-year, on-campus course that covers all verticals of Risk Management such as:

  1. Financial
  2. operational,
  3. strategy,
  4. ESG
  5. CSR,
  6. third-party,
  7. regulatory
  8. technological, and many other such verticals.

The course is uniquely divided into two parts:

  1. 10 months of classroom education, followed by
  2. 2 months of an internship.

The course’s curriculum, made in line with the changing standards of the industry, consists of subjects such as:

  • Corporate Governance
  • Financial Risk Management (FRM)
  • Strategic Risk Management
  • Business Value Chain and Operating Models
  • Process Mapping, Enhancement and Value Stream Mapping
  • Concepts of Enterprise Risk Management
  • IT Risk Management
  • Applied Data Analytics
  • Applied Cyber Security
  • Regulatory and Compliance Risks, etc.

The course has emerged as one of the topmost alternative courses for MBA in the past couple of years.

MBA vs PGDRM 

Why is it that GRMI’s flagship program has emerged as amongst the topmost MBA alternative courses? What is it about the course that sets itself apart from other courses? Here are a few factors:

  1. The course has been designed and is delivered by a faculty team comprising of both academic and industry expertise.
  2. The course is extremely practical in nature: the students go through a variety of case studies, group assignments and live sessions with global leaders. This inculcates in them a sense of real-time corporate experience.
  3. While most MBA courses conduct entrance exams and value such scores in their admission process, GRMI sets itself apart. The admission process for the PG in Risk Management consists of two rounds of interviews, and case studies. This ensures that instead of being arbitrary and luck-based, the selection process is extensive, judicious, skill-based and presents a student with a better chance at showcasing their potential.
  4. A majority of MBA courses have a tenure of 2 years. On the other hand, GRMI’s course only takes a year, 2 months of which are internship-based.
  5. Placements are a crucial part of any course, which is why GRMI has a dedicated placement committee that prepares students for job interviews and smoothens the on-boarding process.
  6. The course stands apart with a Placement Track Record of 97% and a median CTC of ₹9.25 LPA. The average CTC is impressive as well at ₹9.5 LPA.
  7. Employers hiring GRMI grads include, but are not limited to, the Big-4 (EY, Deloitte, PwC, KPMG), Accenture, American Express, Fortis, Pepsico, Titan, etc.
  8. The institute is adorned with several clubs such as the entertainment club and the alumni club, ensuring a holistic development of the students.

 

Conclusion

Recent market surveys and research have revealed that the domain of risk management employs tens of thousands of candidates in India, with the number projected to grow further. The topmost consulting firms in the world have confirmed their intentions to build, maintain and enhance their risk teams. In lieu of these developments, it is obvious that any candidate armed with a specialized certification in risk management would be a priority hire for prospective employers and be able to stand apart from the crowd.

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