Business world is an intense and competitive field. An MBA degree can help develop skills that can be used in a number of situations. In a dramatic shift versus a decade ago, technology jobs are just sought as roles in finance. MBA’s are proving that they can make a difference as leaders in many different industries.
In the below list we try to help these MBA’s with courses and programmes to do after getting their MBA degree. Any list does involve a certain bit of subjectivity and thus it will never be perfect. Despite all this one must attempt to create a list. After all, a list helps us in the simplest way to know why we decide to take a certain action.
The list is a series of technical skills and practical expertise which are never covered or taught in any MBA.
Make sense of your MBA degree by doing atleast one of the following certification programmes:
- Company Secretary: Involved in creating policies for the the company, maintaining legal records, taking care of public issues, managing mergers and acquisition related activities. Primarily the mediator between the management and the board of directors.
- Actuary: Your job as an actuary is to assess the financial impact of risk and uncertainty. Actuaries assess the financial security systems, keeping a hawk’s eye on their complexity, the mathematics involved in the same and their mechanisms.
- Executive Programme in Algorithmic Trading: Cutting edge tools have become the trend in the trading industry. To have a lucrative career in a financial institution and to have an edge over other applicants knowing algorithmic trading is imperative. You could become an Algo Risk Analyst, Quant Analyst, Quant Algo Developer or a Market Risk Analyst.
- Chartered Financial Analyst: In the financial services world, the CFA charter holder is one of the few courses that give an MBA-Finance a serious run for money. A CFA charter holder, is one of the most valued people in any organization. You are looked up to for your insights backed by analytical inputs.
- Certificate in Quantitative Finance: A rigorous and practical certification promises to train people and help them find jobs in derivatives, quant IT, quant trading, risk management or insurance.
- Certified Financial Planner: To have a career in wealth management this course give you in-depth training in various aspects of personal finance like tax planning, insurance planning, estate planning etc.
- Chartered Alternate Investment Analyst: The CAIA Charter designation is the highest standard of achievement in alternative investment education and provides broad knowledge, demonstrated expertise, and global credibility in alternatives.
- Financial Risk Manager: Designation is the most globally respected and widely recognized certification for financial risk management. Exam is the globally recognized standard for measuring the skills and knowledge of those who manage financial risk. If you were to choose to become a Financial Risk Manager, then you would be expected to manage the risk that accompanies any investments and would like to broaden their knowledge of the same.
Here is a brief list of other things which are not taught in an MBA:
- No amount of academic theories on efficient pricing will prepare you completely for what people will actually Finding the “optimal” price is really hard. In the meantime, remember that a sub-optimal price is a lot better than no price at all.
- Price discrimination (in an economic sense) is a wonderful thing — except that it often ignores the real costs in terms of organizational complexity. Every time you add a new product or product option, a small part of your company dies.
- The ways you can spend money on marketing is infinite. Experiment broadly and learn lessons cheaply. On a related note, no amount of MBA marketing classes will prepare you for the day that you have to produce leads in order to close sales. As it turns out, marketing is about more than product feature matrices and the right shade of blue for your logo.
- To recruit the best people, fair compensation and equity are only a start. Company culture and a demonstrated passion for your vision are hugely important. (Oh, and your vision should be on the larger path to truth, justice and overall goodness). Your vision should not involve harming kittens. They’re adorable.
- Advanced game theory is exceptionally useful. Basic game theory is dangerous – because it assumes that you’re dealing with a bunch of rational “players”. It’s like trying to design a real car that’s going to be driven on a theoretically frictionless surface, with no air resistance and no idiots on the road.
- Doing business should foremost be taught in an MBA, that’s what it does not teach you. If you want to be an entrepreneur, MBA is a definitely not a requirement. A few years of practical experience will teach you much more than bookish academics.
- Communication might be a part of your MBA but there is very little you will learn from it. It is a skill you will require day in and day out in your job and if mastered will also take you to the top but it won’t be taught in a b-school.
- Selling is also not taught, while you learn a lot from Mr.Kotler and Mr.Keller during your MBA. Understanding customer needs will only be taught through fancy models.
- Technical Skills are not taught in an MBA. There are a lot of theories and models and more theories. But technically how to implement the theoretical knowledge is not taught.
Although you might be technically sound and have learnt quite a few principles during the MBA, if you had to venture into a skilled field such as quantitative analysis or quantitative strategist you would certainly need something much more than just an MBA. Quantitative strategies have evolved from back office boxes to mainstream complex tools. In order to utilize the best minds in business and fastest computers and to exploit inefficiencies and use leverage to make market bets. To achieve this you will have to equip yourself with practical technical experience and mentorship.