So what are the best alternatives to a traditional MBA? How do alternative MBAs compare to traditional programs in value—and are alternative MBAs worth it for career advancement? Let’s take a look at the Mini-MBA, Quantic MBA and others to work out what is the value of an alternative MBA.
Mini-MBA
Cost: $1,000-$10,000
Duration: One week+
Learning style: Online or in-person
Overview: The Mini-MBA is perhaps the best known of the non-MBAs, and its closest competitor in terms of format. The Mini-MBA often offers a condensed version of the content you’re likely to study in an MBA, such as marketing, finance, and management. Many providers may also offer a Mini-MBA focusing on one area of business.
However, while traditional MBAs tend to take at least 12 months to complete, a Mini-MBA could take as little as one to two weeks. Given its duration it's also much cheaper than an MBA. Depending on the institution you study at, and the length of the program you can expect to pay anywhere between $1,000-$10,000 for a Mini-MBA.
Although you can study a Mini-MBA through private providers or corporations such as PwC, many business schools are now offering Mini-MBAs alongside their full- or part-time programs. For instance, the University of Salford offers a Mini MBA in Business Leadership which costs £2,900 (approx. $3,900) and lasts for one week.
Is a Mini-MBA worth it? Mini-MBAs might be a good fit for someone looking to get an overview of the business fundamentals for an affordable price, or a business professional looking to expand their knowledge in a specialist area.
Quantic MBA
Cost: $14,250 (paid in monthly instalments)
Duration: 15 months
Learning style: Online, optional in-person events
Overview: The Quantic MBA is a totally reimagined version of what an MBA can look like.
The biggest difference here is probably the cost. Quantic MBA students pay $950 per month, which works out at a little under $14,300 for the complete 15-month program. This cost is possible in part because it’s an online program, but also because of Quantic’s employer-funding tuition model. In return for providing employee training and the ability to promote jobs to Quantic students and alumni, they’re able to charge significantly lower fees than business schools.
Though it’s mainly studied through an app, Quantic also tries to mirror some of the benefits you would get from an in-person program. You can connect with other MBAs, for example, as well as join virtual or in-person meetups, and work directly with other students on a capstone project that concludes the program.
Is the Quantic MBA worth it? According to figures on the Quantic website, its alumni outcomes compare favorably with graduates of leading business schools. Quantic claims that within six months of graduating, 52% of its MBA graduates get a promotion and receive an average salary increase of 22%. Overall, 94% of students say they met their career goals post-graduation.
Abilitie 12-Week MBA
Cost: $2,350
Duration: 12 weeks
Learning style: Online, synchronous
Overview: Dubbed the "12-Week MBA", the program from private provider Abilitie is one of the cheapest alternative MBAs on the market. It’s priced at $2,350, which Abilitie says can be covered by employers through a professional development fund. In fact, corporate subscriptions have accounted for a huge proportion of its growth since launching in 2015.
The 12-Week MBA covers four core modules: business intelligence, management intelligence, leadership & strategy, and group projects. There are six hours of virtual classroom teaching each week, along with another four to six hours of independent study.
Is the Abilitie MBA worth it? Though the company doesn't make any specific claims about career outcomes, it does list some of the prestigious corporations it has developed its MBA in conjunction with, among them are Coca-Cola, PayPal, Dell, and Marriott.
ThePowerMBA
Cost: $999
Duration: Self-paced
Learning style: Online
Overview: More affordable than many alternative MBAs, ThePowerMBA costs $999 and takes the form of daily 15-minute classes studied at your own pace.
ThePowerMBA is a little different to other alternatives in the sense that the program features no live learning. Instead, candidates study at their own pace through an online platform, while also having the opportunity to take part in PowerMBA events across the world.
Is ThePowerMBA worth it? Like the other alternative MBAs, it covers the key modules you would also find in an MBA proper: strategy, entrepreneurship, leadership, accounting, and marketing. ThePowerMBA also cites some impressive figures: it has been taken by more than 120,000 students with an overall satisfaction rate of 98%, and more than 600 companies use it to train their staff.
The BusinessBecause view: Alternative MBAs vs Traditional MBAs
While this new wave of digital-first programs have garnered a lot of interest, it’s probably better to see them as a companion to an MBA rather than a substitute.
Most of them offer a surface-level business education, which skims over various key concepts without going into the level of detail you would expect to find in a traditional MBA program.
Others focus on one specific area of business (such as marketing or leadership), and won’t give you the all-round business knowledge that an MBA can provide.
These alternative programs may come in at a much lower cost than an MBA, but it’s with good reason. Although they’re worth investigating if you’re looking to expand your business knowledge in niche areas, they will always struggle to match the expanded career opportunities and salary boost you would get from a traditional MBA.
