Why a short professional program is better than an MBA?

By Reshma Krishnan
Over 50 percent of the students that come to Imarticus Learning and attend our FMVC, CIBOP, CIBIT programs are MBA students. During their counseling sessions as well as their interview prep and mock interviews, we always ask them what they learnt in their MBA and what made them attend Imarticus.

The answers are always the same – I learnt nothing in my MBA. Why is that? MBA’s are extremely popular, so why are they so futile? It’s not the MBA that is futile. The right MBA done at the right time and from the right school is useful, but the majority of MBA’s are not well designed. Here are our top reasons for why short professional programs are better than an MBA.

What is an MBA? An MBA is a multi disciplinary course of study that helps you understand the various facets of running a business, ergo the name, a master of business administration. An MBA assumes that you have come far enough in your career to put the theories you learn during the course– marketing, finance, and operations, into some sort of context. A context that cannot be built without some understanding of how a business functions.

MBA’s are useful but only to those who come in with 5-6 years of relevant work experience. Having already worked on a shop floor of a store or coded for a company, they do an MBA to understand the other facets, which they can then apply to their experience.

This is what generally happens abroad. In India however, the stress on academics and degrees mean that most people do an MBA right after college without any experience leading to a two-year course of study that adds no value, not even to the resume.

But then, you ask, how do we stand out against others during a job hunt? You stand out by doing a course that is tailor-made where the curriculum has been designed in conjunction with specialists and endorsed by companies. A short course does not expect you to have work experience and it’s sole purpose is to help you find a job, and it does that by training you specifically for a role which makes you more employable as you are able to add value to a company from day one.

1. Short professional programs are job-specific – all our programs have been designed by industry experts and tailor made to job requirements. For instance the CIBOP program is designed for Investment Banking Operations roles. For three months, you will be taught by domain specialists, who have worked in these roles giving you real life examples.

2. Professional programs are shorter – Because you spend only three months, you start working sooner and spend less time in the classroom and more time gaining valuable work experience that you can then use to apply to a more prestigious and useful MBA program

3. Short programs focus on getting you a job– our short programs are tailored to a job, which attracts companies because they know our candidates are job-ready.

Imarticus Learning offers the internationally-accredited CIBOP program, designed for careers in Investment Banking. This program provides you an in-depth understanding of complex financial products and their Trade Lifecycles, along with Operational Risk and Regulations.


How Can You Start A Career in Digital Banking?

The internet was one of the ground-breaking inventions of modern history. It has totally changed the lifestyle of people; the virtual world today is far broader than the real one and has a lot to offer given its lucrative prospects. From reading stories in pages of a tangible book to using your smartphone to read the same, the internet has been a game-changer in every aspect of our living. The new age brings new opportunities for people to explore and develop new skillsets.

A decade ago nobody would’ve ever imagined that there would be companies recruiting people to manage their social media, but today it’s a lucrative prospect. The internet technology has influenced each and every industry, be it education or finance and banking or travel, everything has got an upgrade from its traditional self. One of the prominent industries greatly transformed with the internet in the digital age is the banking industry.

Understanding Digital Banking

In the simplest way, digital banking training could be understood as the digitization of the services offered by the traditional method of banking. Before the advent of e-commerce people had to buy things from brick and mortar stores but with the e-commerce industry into the picture all you have to do is choose your good and checkout your cart after selecting a payment method and it’ll get delivered at your doorsteps.

Something similar has been done with the banking industry, here instead of tangible goods the services that the banks have to offer are delivered to you online that you can easily access with the help of your smartphone in a few clicks.

The service offered through digital banking includes money deposits, withdrawals, and transfers, checking & saving account management, Loan management, bill payment, account services, etc. In this technologically progressive world banks can’t afford to miss put on the benefits that the internet has to offer in terms of better customer servicing, customer satisfaction, and increased customer base.

In the last decade, there has been a big change in consumer behavior, people are valuing your services as an experience and not just a service, this has made financial institutions more sensitive to customer experience and thus bringing the services online is a prerequisite.

Today with the advent of digital wallets and UPI payment methods the need to go to the bank or even carry your wallets for a transaction has reduced drastically. Online banking is very similar to digital banking but has a narrow digital banking traiscope than the digital banking scheme, the digital banking aims to deliver all the products and services that the financial institutions have to offer whereas online banking has limited inclusions like bill pay, money transfer, remote deposit, etc.

Career Prospects in Digital Banking

The digital banking field is very different from traditional banking; it requires a combination of technical knowledge and the knowledge of the banking industry. This sector has a plethora of opportunities for people from both the streams of technology and finance & banking. Some of the major jobs available in this industry include the like of digital product manager, UI designer, software engineers, exploratory testers, etc.

Since the digital world is run with the help of data, this field has a lot to offer to professionals having the data acumen. A large number of decisions today are made by algorithms that are put in place; algorithm mechanics demand is predicted to rise in the near future given banks need people to optimize the customer experience. Another growing demand in this field is for digital process engineers who are trained to analyze and optimize the workflow and maintain the standardized process designed by the company for a smooth customer servicing experience.

Those with a technological background are ideal for product designing and development roles in the digital banking industry. Product managers are also crucial in the digital banking age, they add value by ensuring proper delivery of the digital products and services offered by the bank. Other relevant roles include content management and copywriting roles than requires a marketing bent of mind.

Careers in Retail Banking and Wealth Management

RETAIL BANKING
Also known as Consumer Banking, it involves provision of services by a bank to individual consumers, rather than to companies, corporations or other banks.
WEALTH MANAGEMENT
An investment-advisory discipline that incorporates financial planning, investment portfolio management and a number of aggregated financial services
Careers:

EMPLOYMENT LANDSCAPE

  • Axis Bank
  • HDFC Bank
  • ICICI Bank
  • IndusInd Bank
  • Kotak Mahindra Bank
  • Yes Bank
  • HSBC
  • Citibank
  • Reliance Capital
  • Birla Sun Life
  • Religare
  • Franklin Templeton
  • Motilal Oswal
  • Edelweiss
  • DSP BlackRock
  • LIC Nomura
  • IDBI
  • Deutsche Asset

Imarticus Learning offers various short term and long term diploma programs on Corporate Finance. We are especially proud to announce the launch of our 250-hour Diploma in Retail Banking and Wealth Management. Please contact us to learn more.