Higher Studies after MBA in Abroad : Best Courses

If you are finding it difficult to decide after MBA which course is best, you are at the right place. An MBA provides you with a versatile skill set to navigate the business world. To gain expertise in a specific domain, you may need to enroll in additional courses after your MBA. 

According to the U.S. news, the USA is considered the best destination for overseas education. In the US, the number of international students crossed 1 million in the academic year 2022-2023.  

In this blog, I will discuss the best course to pursue after an MBA in Finance, including the course costs, average salaries after completion, top study destinations, and job opportunities.

With the help of this blog, you will be able to decide what to study after MBA.

What to Study After MBA – Short-Term Courses 

After MBA, which course is the best? There are many short-term options worth considering. They include:  

• Short-term foreign language courses can broaden your horizons and help you pursue opportunities with global employers. 

• Personality Development courses help you groom yourself while improving your public speaking abilities and confidence. Many students prefer to take these courses as part-time options while working after completing their MBA or just before they start working.

• Systems Applications and Products (SAP) is one of today’s most popular courses. It boosts students’ overall abilities in using SAP more effectively, along with all its functions. All business sectors and industries use SAP to enhance the overall value of their offerings. 

• There are functional and technical short-term courses available to improve your employability with SAP. 

• Coding is another popular option. Students in almost all fields prefer it. This involves certificate or short-term diploma courses that teach you a whole new skill and one that can come in handy in the future.

Higher Studies After MBA Abroad- Courses Available

What after MBA? It is a question that many aspirants may have. Here are some of the best options for higher studies after an MBA that you should consider. 

Financial Risk Management (FRM) – 

Why Pursue FRM After MBA Finance

FRM certification perfectly complements your MBA in Finance degree. It analyzes deeply the risk management concepts specific to financial organizations, corporations, and investment firms.

Most financial institutions hire individuals with FRM degrees as they navigate highly volatile and complex markets. This certification helps you showcase a deeper understanding of risk management frameworks, regulatory compliance, and quantitative analysis techniques. 

Having FRM certificate positions you as a valuable asset in the financial services industry, opening doors to exciting career opportunities. Thus, FRM is one of the most popular courses to pursue after an MBA if you are planning to pursue education abroad.

Cost of Doing FRM

FRM certification has two parts. Level 1 covers essential tools and concepts of risk management, while Level 2 emphasizes the application of these tools in different areas of risk management. The FRM Level 1 exam consists of 100 MCQs, whereas Level 2 consists of 80 MCQs. The exam fee for each part ranges between $800 and $1200.  

Average Salary After FRM

Considering the US market only, the average salary of  FRM-certified professional is approximately $114,000 per year, depending on the role and experience level. The table below shows the average salary range for different roles after acquiring FRM certification:

Role	Average Salary
Quantitative Analyst	$118,803
Credit Risk Manager	$134,966
Risk Analyst	$74,125
VP- Risk Management	$150,000
Risk Manager	$120,183
Quantitative Analyst, Risk	$91,131
Senior  Risk Manager	$130,603

Job Opportunities After FRM

The FRM certification opens the door to a great career in the financial risk management landscape. Here are some of the potential that you can pursue according to your choice, experience, and specialization:

• Financial Risk Analyst
• Market Risk Analyst
• Regulatory Risk Analyst
• Credit Risk Specialist/Analyst
• Risk Manager
• Chief Risk Officer
• Corporate Risk Director

Top Universities/Colleges for FRM

There are several universities to study abroad that offer preparatory courses and resources for FRM preparation. Some of them are listed below:

• Stellenbosch University
• Bentley University
• Frankfurt School of Finance & Management
• Trinity College
• University of Strathclyde Glasgow

FRM certification coupled with an MBA in Finance can be a powerful combination for a successful career in risk management. 

Doctorate in Business Administration (DBA)

Why Pursue DBA After MBA

If you are looking for courses after MBA in abroad and want to expand your business skills, a Doctorate in Business Administration (DBA) is the best option. The DBA program provides a deeper understanding of a specific domain. If you are interested in academia, a DBA program opens the door to teaching and research opportunities at business schools and universities.

Cost of Doing DBA

The cost of a DBA program varies depending on the location, university, and program format (full-time/part-time). Generally, the average tuition fee for a DBA is around $61,879 per year. Additional costs, such as living expenses, study materials, food, and travel, may also apply.

Average Salary After DBA

After completing a DBA, you can earn an average of $101,000 per annum. However, the salary of a business administrator depends on experience, organization, and location.

The table below shows the average salary range for different roles after acquiring a DBA certification:

Job Role	Average Salary
Management Analyst	$95,290
Market Research Analyst	$68,230
Chief Executives	$189,520
University Professor	$80,840
Economist	$113,940

Job Opportunities After DBA

The DBA program provides expertise in business administration and management, equipping you to handle real-world business problems. This gives DBA degree holders an upper hand in assuming top positions in renowned organizations. Here are some top job roles for a DBA degree holder:

• Management Analyst
• Economist
• Chief Executives
• University Professor
• Market Research Analyst

Top Universities/Colleges Offering DBA

Here are a few examples of prestigious universities offering DBA worldwide:

• Rochester Institute of Technology (USA)
• United States University (USA)
• UBIS (Switzerland)
• Hult International Business School (UK & USA)
• University of Portsmouth (UK)

Certified Information Systems Auditor (CISA)

Why Pursue CISA After MBA

If you are wondering what to study next after an MBA abroad, CISA is a good option for those looking to build a career in auditing, information systems, security, or related fields. It enhances your profile and opens doors to various career opportunities.

Cost of Doing CISA Certification

The cost to pursue a CISA certification is between $500 and $800. Depending on membership status at the time of the exam, it costs $575 for ISCA members and $760 for non-members.

Average Salary After CISA

According to the US Bureau of Labor Statistics, the average salary of a CISA certification holder is $102,600 and is expected to grow 35% by 2031.

Job Opportunities After CISA Certification

The CISA certification opens the door for you to a wide range of lucrative career opportunities in IT Audit and Information Security. Here are some job roles that you can pursue after a CISA certification:

• Management Analyst
• IT Cybersecurity Specialist
• Security Specialist
• Emergency Management Specialist
• Executive Officer
• Management & Program Analyst

Top Universities/Colleges for CISA

CISA is a non-university-affiliated certification. I have listed CISA prep courses offered by ISACA itself and a CISA prep course provider below to excel in your exam:

• Learning Tree International Inc
• Online Review Courses provided by ISACA

Chartered Financial Analyst (CFA)

Why Pursue CFA After MBA Finance?

After completing your MBA in finance, the CFA program adds another credential to your qualifications. CFA certification demonstrates to organizations that you possess the skills necessary for financial analysis, portfolio management, and sound investment decision-making.

Cost of Doing CFA

Various factors must be considered when determining the cost of pursuing the CFA. The CFA Program costs include a one-time enrollment fee of $450. Each exam level has an early registration fee of  $940 and a standard registration fee of $1,250. Additional costs may include study materials, exam rescheduling ($250), and travel and accommodation expenses.

Average Salary After CFA

The average salary of a CFA charter holder varies according to experience, location, and organization. On average, a CFA charter holder earns around $177,000. The table below shows the salary range and average salary according to the job roles after CFA certification:

Job Role	Average Salary
Financial Analyst	$72,903
Portfolio Manager	$113,782
Investment Analyst	$85,972
Senior Financial Analyst	$92,662
Chief Financial Officer	$184,578
Vice President, Finance	$147,521
Chief Investment Officer	$186,124

Job Opportunities After CFA

The CFA designation opens the doors to diverse career options in the investment management domain. Here are some prominent job roles that you can pursue:

• Private Wealth Manager
• Credit Analyst
• Chief Investment Officer
• Portfolio Manager
• .Investment Banker

Top Universities/Colleges for CFA

CFA is not a university-affiliated certification. The CFA institute provides a list of online prep providers to help the aspirants prepare for the exam. Some of them are listed below:

• amiCoach Academy
• Analyst Prep
• Bloomberg Exam Prep

PhD in Management

Why Pursue PhD After MBA Finance

PhD in Management is a three- to five-year course that you can study abroad after an MBA. It provides specialization in a particular topic and also opens up vast career opportunities in the fields of research, policy-making, academia, administration, etc. 

Cost of Doing PhD in Management

The cost of pursuing a PhD in Management abroad can range from $27,000 to $94,500 per year, depending on the location, University, and specialization you choose.

Average Salary After PhD in Management

The entry-level salary of Consultants with a PhD degree in leading management consulting firms worldwide is $1,000. However, the earnings depend upon the location, organization, specialization, and experience of the professionals with a PhD in Management.

Job Opportunities After pursuing PhD in Management

With a PhD degree in management, you can explore different career pathways, such as:

• Business Development Specialist
• Management Consulting
• University Professor
• Entrepreneurship

Top Universities/Colleges for PhD in Management

List of Universities that offer PhD in Management:

• Brunel University London
• University of Bristol
• University of Westminster
• University of Glasgow
• Global Education, USA
• Liberty University, USA

Certification in Risk Management Assurance (CRMA)

Why Pursue CRMA After MBA Finance

CRMA (Certification in Risk Management Assurance) is a certification awarded by the Institute of Internal Auditors (IIA). This certification is ideal for those seeking specialization in managing credit risk. If you are considering courses after an MBA abroad, earning a CRMA certification can be a strategic move for your career.

While an MBA builds your foundation in business functions, a CRMA certification showcases your capabilities in risk assessment, identification, response, and controls. 

Having a CRMA certification after an MBA in Finance will enhance your expertise in risk mitigation strategies, loan portfolio management, regulatory compliance, and credit risk assessment, making your profile much stronger than other job seekers.

Cost of Doing CRMA

The cost of pursuing Certified Risk Management Assurance is $445.

Average Salary After CRMA

The average salary of a Certified Risk Management Assurance professional is $121,000, but it depends on experience, location, and industry.

Job Role	Average Salary
Internal Auditing Manager	$99,272
Chief Audit Executive	$174,507
Senior Internal Auditor	$88,791
Senior Auditor	$104,500
Credit Risk Manager	$119,000

Job Opportunities After Pursuing CRMA 

With a focus on credit risk management, the CRMA certification opens a wide range of career opportunities in the financial services landscape, including:

• Internal Auditing Manager
• Senior Auditor
• Credit Risk Manager
• Senior Internal Auditor
• Chief Audit Executive

Top Universities/Colleges for CRMA

While the CRMA exam is not university-affiliated, several institutions prepare you for the exam. Consider the following options:

• IIA (The Institute of Internal Auditors) provides CRMA study materials and resources for exam preparation.
• Online Training Providers offer CRMA prep courses, study materials, resources, and training for the exam.
• Financial Services Industry Associations provide CRMA prep courses or workshops for exam preparation for their members.

Project Management Professional (PMP)

Why Pursue PMP After MBA

If you have completed your MBA, have strong leadership skills, and are still wondering what to study after MBA, earning a PMP certification is a great next step. A PMP certification validates your skills in leading and managing processes, people, resources, and professional projects. There are currently around 1,400,000 PMP certification holders worldwide. 

Cost of Doing PMP

To obtain a PMP certification, you need to qualify for the exam. The exam fee for members is $405, whereas for non-members, it is $575.

Average Salary After PMP 

The salary of a PMP-certified professional is 16% higher globally and 32% higher in the USA compared to non-holders. In the USA, a PMP-certified professional earns an average salary of $123,000 per year, while non-PMP holders earn an average of $93,000. The table below shows the salary range and average salary of PMP certified professionals according to their job roles.

Job Role	Average Salary
Project Manager(General)	$93,372
Project Manager(IT)	$103,913
Sr. Project Manager (IT)	$123,915
IT Director	$150,542
Director of Operations	$128,598
Program Manager, IT	$131,749

Job Opportunities After Pursuing PMP

These are a few job roles that you can pursue after a PMP certification:

• Project Leader
• Project Director
• Project Management Officer
• Director Of Operations
• Program Manager, IT
• Project Manager

Top Universities/Colleges for PMP

The PMI (Project Management Institute) provides online PMP prep courses. Formal study courses are also offered by PMI chapters, and you can connect with Authorized Training Partners to prepare for the exam.

Some universities offering PMP exam prep courses:

• Carnegie Mellon University
• Massachusetts Institute of Technology
• University of Michigan
• Boston University
• Gonzaga University

Post Graduation Diploma in Computer Applications

Why Pursue Post Graduate Diploma in Computer Applications After MBA

If you have completed your MBA abroad and are looking for an additional course in computer applications to boost your profile, a PGDCA is a great option. This diploma provides a general understanding of software, programming languages, computer applications, and more.

Cost of Doing PGDCA

A PGDCA can cost approximately between $3,078 and $29,220 per year, depending on the location and institution.

Average Salary After PGDCA

Here is the average salary for professionals with a PGDCA certificate:

Job Role	Average Salary
Technical Program Manager	$114,372
Data Architect	$79,483
DevOps Engineer	$121,123
Front End Developer	$58,370
Software Developer	$99,518

Job Opportunities After PGDCA

Earning a PGDCA after an MBA opens various career options, such as:

• Chief Information Officer
• Computer Programmer
• Computer Systems Analyst
• Website Developers and Designers
• Project Manager

Top Universities/Colleges for PGDCA

Check out some of the universities for PGDCA that you can consider for the course:

• Massachusetts Institute of Technology
• Stanford University
• Carnegie Mellon University
• Harvard University
• University of California, Berkeley

Certified in Production and Inventory Management (CPIM)

Why Pursue CPIM After MBA

If you are looking for a lucrative career in supply chain management, obtaining a CPIM certification after your MBA is a great option. It is a globally recognized certification that opens the door to a career in logistics, supply chain, and material management.

Cost of Doing CPIM

The CPIM certification exam consists of two parts. Each part consists of 6 modules. You need to pass Part 2 of the CPIM within three years of passing the Part 1 exam to obtain the CPIM certification. The cost is $495 for APICS PLUS members and $690 for Core or non-members for each part.

Average Salary After CPIM 

A CPIM-qualified professional can earn 23% more than a non-qualified individual. The average salary of a supply chain professional in the US is $98,570.

Job Opportunities After CPIM

A CPIM-certified professional can pursue the following job roles:

• Supply Chain Director
• Supply Chain Manager
• Materials Manager
• Procurement Manager
• Inventory Manager
• Purchasing Manager
• Procurement Manager

Top Universities/Colleges for CPIM

Here are some of the Universities that offer CPIM Prep courses:

• Michigan State University
• Arizona State University
• Massachusetts Institute of Technology
• University of Tennessee
• Ohio State University

Data Science and Data Analytics

Why Pursue Data Science and Data Analytics After MBA

If you are looking for courses after MBA abroad and like to analyze data, obtaining a degree in Data Science and Data Analytics will be beneficial.

Cost of Doing Data Science and Data Analytics

A master’s degree in Data Science and Data Analytics can cost approximately $12,120 to $20,043 per year, depending on the institution and location.

Average Salary After Data Science and Data Analytics 

The average salary of a Data Science and Data Analytics professional is $108,020. Here is the average salary for different job roles:

Job Role	Average Salary
Data Engineer	$96,000
Data Architect	$130,000
Data Analyst	$66,000
Machine Learning Engineer	$116,000
Data Scientist	$103,500
Computer and Information Research Scientist	$136,620

Job Opportunities After Data Science and Data Analytics

You can pursue the following job roles after acquiring a degree in Data Science and Data Analytics.

• Data Scientist
• Data Architect
• Data Engineer
• Machine Learning Engineer
• Data Analyst
• Computer and Information Research Scientist

Top Universities/Colleges for Data Science and Data Analytics

Mentioned below are some Universities/Colleges for Data Science and Data Analytics that you can consider:

• Massachusetts Institute of Technology (MIT)
• University of California
• University of Oxford
• Harvard University
• University of Toronto

PLANNING TO STUDY MBA FROM ABROAD? CHECK YOUR ELIGIBILITY

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Top Universities/Colleges for Data Science and Data Analytics

Mentioned below are some Universities/Colleges for Data Science and Data Analytics that you can consider:

• Massachusetts Institute of Technology (MIT)
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• Harvard University
• University of Toronto

Important Scholarships to Study Abroad
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