Banking and finance industry is among the best booming industries from the past years. And as per the projections, 2025 is going to be another booming year as well. Graduates and professionals generally get confused between what should they pursue next ~ a MBA course or get a good banking certification in place to have a better job. However, both have their own respective benefits and forthcomings but it depends on your interest specifically what you want to do. You need to make wise decisions in choosing the above two options to have a better successful career in the future. Here are the benefits, differences and why you should do either a MBA or banking certification courses.
Banking Certification Courses
In general, banking certification courses are not degrees of 2 years, this is a specialized program designed for candidates like you to be trained on the required skills of the banking industry. This is a flexible and short-term course which will help you to gain all the required soft skills for the banking sector. The course will entirely focus on the particular banking functions to comprehensive programs that cover all the dynamics of financial services.
Specialization: With the banking certification course, you will primarily focus on the niche areas which includes the following: risk management, investment analysis, compliance, or financial planning. On gaining specialization in any of the among niches, you can have an edge over other candidates in the job market.
Duration and Flexibility: In general, banking certification courses are designed so that it can be completed in a shorter time frame in comparison to a regular or part time MBA course. With this flexibility, you can complete the certification course along with your job.
Cost-Effectiveness: Generally, banking certifications are a cheaper and less expensive option in comparison to the regular MBA degree. Anyone irrespective of the financial background, can easily do a banking certification course without the need of an education loan.
The Value of an MBA
In general, a Master of Business Administration (MBA) is a very diverse course and you have to choose the niche you want to get in with the MBA degree first. Finance, marketing, operations, and human resources are just a few of the areas of which you can choose among. Now who can do an MBA course? It is best for people who are looking for leadership positions in future to grow better with their career.
Broad Skill Set: MBA course is a wholesome and well-rounded educational degree. You will get to learn a lot unlike a certification course. You will go to various roles beyond just banking. It starts with your learning of essential management skills that can be applied in multiple sectors and not just restricted to one.
Networking Opportunities: You will get access to the best networking opportunity on enrolling in a MBA course. In general, an MBA course brings access to the unlimited alumni connections, industry events, and internships through the regular organized events. These connections can help you with career advancement in multiple ways.
Higher Earning Potential: In general, you will get a better job role with the MBA degree then a certification course and so will the salary as well. This is because of the broader skill set and leadership training you will learn during your MBA course. On the basis of which, you can lead to more significant career advancement opportunities in future as well.
Career Prospects with MBA and Banking Certification Course
With a Banking certification course, you can apply for the targeted roles in the banking industry. This can be compliance officers, credit analysts, investment advisors, among other suitable roles as per your niche. However, with an MBA course, you can apply for the broader spectrum of employment opportunities. You can choose any niche among the banking, including marketing, consulting, and operations management to get the best job for yourself.
Career advancements will happen in both the cases, either it is a banking certification course or an MBA degree. Well, it depends on what you want to follow further and what job roles suit your interest as well. If it is a leadership role, then you should go for an MBA degree. And if you want to get into the banking and finance niche, then doing a banking certification course can be the best decision as well. It is all on you, so decide efficiently.
Cost Involved in Banking Certification Course and MBA Degree
The cost of certification programs, in general, is much lower than that of an MBA degree. If financial factors are one then this can be the best alternative for you as well. When it comes to the tuition fees for MBA programs, it generally ranges from INR 1 lakh to INR 25 lakhs. Moreover, it is more on what is the institution's reputation and location, you are choosing.
Conclusion
Personal circumstances, financial concerns, and professional aspirations are certain factors which you need to consider while deciding what to pursue ~ a MBA course or a banking certification course this year. Banking certifications could be a better choice like mentioned above if you want a specialized position in the banking industry. In comparison, doing an MBA will bring substantial benefits if you want to get up to the leadership roles in future.
