In times of strife and competition, a good degree goes a long way. Resumes aren’t the most important factors when it comes to hiring processes, but they are surely the shoe-in to further steps of the process where the candidate may shine. In lieu of this, MBA is certainly a great degree in that it adds an oomph-factor to the profile of any candidate.

However, MBA degrees have become common-place and there is a boom of MBA degree holders in the market. How does, then, one differentiate oneself? How does one choose a degree that offers a premium to their career? The answer lies in exploring MBA alternative courses.

Alternatives to MBA 

Any course, when chosen by a student, should stand up to a few basic conditions and requirements:

1. The tenure: the course must be of such tenure that it doesn’t take up too much time off the student’s precious years.
2. The cost: the course should come at a financial fee that returns a good ROI in the future and doesn’t burn a complete hole in the pockets.

• The curriculum: the course must be designed and structured in a way that complements classroom learning with practical, hands-on insights and ensures that its students are ready for the real world.

1. The placements: the course should be equipped with a placement program worthy of itself to ensure that its students find worthy jobs post- completion.

With inflation on the rise and specialization becoming a hallmark for hiring managers, students across the boundaries of domains, backgrounds and aspirations are perusing alternative degrees to MBA. Alternative courses for MBA aspirants are in vogue right now and one of the most popular fields is Risk Management.

Risk Management 

In business, there are certain factors, elements and circumstances that defer or hinder the:

• firm’s smooth operations,
• firm’s profitability, and
• firm’s reputation.

These elements range from worker issues and competitor behavior to environmental factors and regulatory changes.

Risk management is the process of predicting, analyzing, observing, and mitigating these risks to the business in a way that ensures productivity, profitability, and goodwill with all the stakeholders of a firm.

Irrespective of whether a student wants to build a career working or wants to become an entrepreneur, risk management is a skill inherent to running a business and hence, is an aspect that must be familiar to everyone involved in a firm. Students should consider the innovative PG in Risk Management by the Global Risk Management Institute.

PG in Risk Management by GRMI  

Global Risk Management Institute was founded by a team of risk professionals in keeping with risk management practices around the world. This team, now the Board of Governors, recognized both the succinct need for trained risk professionals in the Indian economy, and the distinct lack of targeted educational courses in the domain. Capitalizing on this gap, the 1-Year PG in Risk Management was founded.

The program is an on-campus, job-oriented course that aims to inculcate and facilitate education in all verticals of risk management, ensuring an all-round risk coverage. The course is uniquely structured:

1. 10 months of on-campus, classroom learning, followed by
2. 2 months of internship.

The subjects covered extensively in the course include, but aren’t limited to:

• 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 program has emerged in recent years as the finest MBA alternative degree in India.

Risk Management over an MBA: The Reasons

There are a lot of factors about GRMI’s flagship program that sets it apart from MBA degrees and highlights its uniqueness:

1. The program’s tenure is for a year, while most MBA programs take up to 2 years.
2. A lot of MBA programs require a competitive exam or such scores as the first step of admission. While understandable, such entrance exams often result in arbitrary selection processes and can be dependent upon strokes of luck. The admission process for the PG in Risk Management consists of two rounds of interviews, and even case studies occasionally. By eliminating the need for entrance exam scores, it is seen to that the selection process is extensive and assesses the talent and profile of a prospective student much more judiciously.
3. MBA programs tend to be generic in focus, presenting a broad overview. In contrast, the PG in Risk Management is a specialized certification course, focusing completely on the domain of risk management.
4. Most MBA degrees don’t have any placement assurance or any such facility while the PG in Risk Management boasts of a 97% Placement Track Record, with a whopping Median CTC of ₹9.25 LPA.
5. The course is practical in nature; the students undergo various case studies, group assignments and live sessions with industry professionals.
6. Frequent employers of GRMI grads include the topmost consulting firms in the world such as the Big-4 (EY, KPMG, Deloitte, PwC), Titan, Fortis, PepsiCo, Accenture, etc.

Conclusion

The job market is a tricky place to figure out but having the correct qualifications would be a step in the right direction. The dynamic domain of Risk Management hires tens of thousands of people in India every year and with constant changes and updates in business, this number is only set to grow in the next few years.

With this in view, a specialized certificate in risk management would be a preferred factor for prospective employers as hiring trained professionals would be more efficient, cost-effective and quicker than training their current employees. Any student looking to make a mark should consider the PG in Risk Management.