Pursuing an MBA is seen as the golden ticket to a promising career. However, it comes with its own set of limitations, prompting aspirants to explore alternative avenues. For many, the primary hurdle is cracking various competitive entrance tests, necessary for seeking admission in the programme at reputed universities and institutes.
The most important MBA entrance tests held in India are the Common Admission Test (CAT), organised by different Indian Institute of Managements (IIMs), Management Aptitude Test (MAT) conducted by the All India Management Association (AIMA) and Graduate Management Admission Test (GMAT) by Graduate Management Admission Council (GMAC). The scores of these tests decide the fate of MBA aspirants and their chance of securing admissions to premier management institutes in India and abroad.
However, there is a diverse array of alternative career options after completing BBA, if you do not want to pursue an MBA. Each offers a similar level of education and training but with the added advantages of flexibility and affordability. Here’s a bird’s eye view of them.
Chartered Financial Analyst (CFA)
This is a very prestigious position in the realm of finance. In order to be a certified CFA, candidates need to qualify three levels of exams conducted by the CFA Institute, USA. The entire CFA course has been divided into three levels. The levels are CFA Level 1, CFA Level 2 and CFA Level 3. Candidates are required to pass three levels of exams covering areas, such as accounting, economics, ethics, money management, and security analysis. Candidates can only move to the next level after clearing the previous level exam.
Eligibility: The candidates need to be a graduate from any discipline or in the final year of graduation with 4 years of work experience. They should also possess an International Passport.
Duration: Undertaking the CFA certification programme can last up to 3 years.
Job opportunity: Investment managers, Portfolio managers, Risk managers
Financial Risk Management (FRM)
This programme equips students with risk management concepts and strategies applicable across industries. The certification is in two levels, and is accredited by the Chartered Insurance Institute, UK.
Eligibility: Admission criteria for the course varies based on the institute that is offering the course. Some institutes may take an eligibility test prior to offering the course. However, the basic eligibility criteria for a candidate is qualifying 10+2. A candidate who is in the final year of graduation is also eligible to sit for FRM level 1 exam.
Duration: 1-2 years
Job opportunities: A certificate, diploma or degree of this programme can work as enterprise managers, financial risk managers, operational risk managers, and supply chain risk managers.
CRISIL Certified Analyst Programme (CCAP)
CCAP is a two-year work-cum-study programme aimed at developing world-class finance professionals for analyst roles in Credit Rating Information Services of India Limited (CRISIL) and the industry at large. It offers selected candidates the opportunity to be the employees of CRISIL, Gurugram. This programme is run by CRISIL, with the Narsee Monjee Institute of Management Studies (NMIMS) as the academic partner. On successful completion of 2 years, a ‘Post Graduate certificate in Finance’ is awarded jointly by CRISIL & NMIMS.
Eligibility: Candidates must secure a minimum 55% or equivalent CGPA in their Bachelor’s degree, and need to have up to 2 years of work experience. Candidates are also required to appear for the CRISIL Aptitude Test. Successful candidates are then called for group discussion and a personal interview.
Duration: The total duration of the program is 24 months.
Job opportunities: Upon successful completion, candidates work with CRISIL Foundation, and in other roles such as Ratings/Global Research and Analytics, Global Analytical Centre, Risk Solutions, and Corporate Finance.
Masters in Financial Management (MFM)
This a two-year postgraduate programme that equips students with in-depth knowledge of accounting and finance management. It caters to both beginners and individuals with prior finance experience, preparing them for roles such as financial analyst, investment manager, and stock broker.
Eligibility: Applicants should have a graduation degree with a minimum of 50% marks for general category and 45% for reserved category. Candidates with at least 2 years of work experience in finance are preferred.
Duration: 2 years
Job Opportunities: After completion of this 2-year-course, candidates can pursue careers as insurance managers, credit managers, or even chief financial officers.
Post Graduate Diploma in Computer Application (PGDCA)
Post Graduate Diploma in Computer Applications or PGDCA course is a professional course in the field of computer application. PGDCA course can be pursued by the candidate after completion of any undergraduate studies in any related stream. The PGDCA course covers comprehensive knowledge of computer application and computer science. It includes a wide range of topics, such as operating systems, database management systems, and web programming.
Eligibility: Candidates must have passed a bachelor’s degree in any stream (BA, B.Com, B.Sc, BBA, BCA, and B.Tech) from any recognised university or college. Some of the institutes are having a specific age limit while applying for PGDCA courses. Depending on the institute, there may be the need to appear for entrance exams conducted by the relevant authority..
Duration: 1 year
Job opportunities: Software Developer, Project manager, Database Administrator, Web Designer
The most important MBA entrance tests held in India are the Common Admission Test (CAT), organised by different Indian Institute of Managements (IIMs), Management Aptitude Test (MAT) conducted by the All India Management Association (AIMA) and Graduate Management Admission Test (GMAT) by Graduate Management Admission Council (GMAC). The scores of these tests decide the fate of MBA aspirants and their chance of securing admissions to premier management institutes in India and abroad.
However, there is a diverse array of alternative career options after completing BBA, if you do not want to pursue an MBA. Each offers a similar level of education and training but with the added advantages of flexibility and affordability. Here’s a bird’s eye view of them.
Chartered Financial Analyst (CFA)
This is a very prestigious position in the realm of finance. In order to be a certified CFA, candidates need to qualify three levels of exams conducted by the CFA Institute, USA. The entire CFA course has been divided into three levels. The levels are CFA Level 1, CFA Level 2 and CFA Level 3. Candidates are required to pass three levels of exams covering areas, such as accounting, economics, ethics, money management, and security analysis. Candidates can only move to the next level after clearing the previous level exam.
Eligibility: The candidates need to be a graduate from any discipline or in the final year of graduation with 4 years of work experience. They should also possess an International Passport.
Duration: Undertaking the CFA certification programme can last up to 3 years.
Job opportunity: Investment managers, Portfolio managers, Risk managers
Financial Risk Management (FRM)
This programme equips students with risk management concepts and strategies applicable across industries. The certification is in two levels, and is accredited by the Chartered Insurance Institute, UK.
Eligibility: Admission criteria for the course varies based on the institute that is offering the course. Some institutes may take an eligibility test prior to offering the course. However, the basic eligibility criteria for a candidate is qualifying 10+2. A candidate who is in the final year of graduation is also eligible to sit for FRM level 1 exam.
Duration: 1-2 years
Job opportunities: A certificate, diploma or degree of this programme can work as enterprise managers, financial risk managers, operational risk managers, and supply chain risk managers.
CRISIL Certified Analyst Programme (CCAP)
CCAP is a two-year work-cum-study programme aimed at developing world-class finance professionals for analyst roles in Credit Rating Information Services of India Limited (CRISIL) and the industry at large. It offers selected candidates the opportunity to be the employees of CRISIL, Gurugram. This programme is run by CRISIL, with the Narsee Monjee Institute of Management Studies (NMIMS) as the academic partner. On successful completion of 2 years, a ‘Post Graduate certificate in Finance’ is awarded jointly by CRISIL & NMIMS.
Eligibility: Candidates must secure a minimum 55% or equivalent CGPA in their Bachelor’s degree, and need to have up to 2 years of work experience. Candidates are also required to appear for the CRISIL Aptitude Test. Successful candidates are then called for group discussion and a personal interview.
Duration: The total duration of the program is 24 months.
Job opportunities: Upon successful completion, candidates work with CRISIL Foundation, and in other roles such as Ratings/Global Research and Analytics, Global Analytical Centre, Risk Solutions, and Corporate Finance.
Masters in Financial Management (MFM)
This a two-year postgraduate programme that equips students with in-depth knowledge of accounting and finance management. It caters to both beginners and individuals with prior finance experience, preparing them for roles such as financial analyst, investment manager, and stock broker.
Eligibility: Applicants should have a graduation degree with a minimum of 50% marks for general category and 45% for reserved category. Candidates with at least 2 years of work experience in finance are preferred.
Duration: 2 years
Job Opportunities: After completion of this 2-year-course, candidates can pursue careers as insurance managers, credit managers, or even chief financial officers.
Post Graduate Diploma in Computer Application (PGDCA)
Post Graduate Diploma in Computer Applications or PGDCA course is a professional course in the field of computer application. PGDCA course can be pursued by the candidate after completion of any undergraduate studies in any related stream. The PGDCA course covers comprehensive knowledge of computer application and computer science. It includes a wide range of topics, such as operating systems, database management systems, and web programming.
Eligibility: Candidates must have passed a bachelor’s degree in any stream (BA, B.Com, B.Sc, BBA, BCA, and B.Tech) from any recognised university or college. Some of the institutes are having a specific age limit while applying for PGDCA courses. Depending on the institute, there may be the need to appear for entrance exams conducted by the relevant authority..
Duration: 1 year
Job opportunities: Software Developer, Project manager, Database Administrator, Web Designer
