The Mini MBA - Is It Worth It? Find out what it is, how much it costs, and whether a Mini MBA is worth your time.
The needs of prospective MBA students are changing, seeing a rising demand for a flexibility—whether this is part-time MBA formats, online MBA programs, or the Mini MBA.
The Mini MBA offers something very different—an accelerated business program, with an emphasis on the student's specific needs. For those interested in studying longer term, or those looking to supplement their business education, the shorter, more flexible sample MBA format can be the perfect complement to a full-time MBA.
Amid the COVID-19 pandemic, the Mini MBA offers a solution for professionals looking to upskill and stand out in a hard-hit jobs market. It's another example of the traditional methods of business education being disrupted.
But what exactly does the Mini MBA involve? And is it worth your time and money?
What is the Mini MBA?
The Mini MBA, as the name would suggest, is a fast-track format of the MBA, concentrating what would be one or two years of content into around 40 hours of tuition.
“It's like a balcony view of the business landscape, offering a view of how all the pieces work together,” comments Jacque Anderson (pictured below), assistant dean at Opus College of Business at the University of St Thomas in Minnesota.
Their program provides an introductory insight into business, preparing students for what might be a further exploration, or just a foundational understanding of the area.
The Mini MBA exists mainly in two formats—a one-to-two week long accelerated program, or a weekly extended program that takes place, often online, over a number of months.
The shorter format offers concentrated, informative training, and can act as a taster for a full-time MBA program or a quick win for professionals looking to boost their business knowledge. The Mini MBA in Business Leadership offered by the University of Salford Business School is a five-day immersion for senior executives and managers aspiring for career progression. The Opus College of Business at the University of St Thomas also offers a five-day program focused on business and leadership strategy.
Mini MBAs can also focus specifically on one area of business, and don't have to be delivered by traditional business education providers. Professor Mark Ritson offers a six-week Mini MBA course in Marketing, for example.
Then there are longer programs. The Mini MBA: Business Essentials at Rutgers Business School in New Brunswick teaches students about the power of the consumer, the impact of globalization, and the pervasiveness of the digital era. The 12-week self-paced program has two cohorts entering in 2021, starting in February and May.
The London School of Economics offers an online MBA Essentials certificate which takes 10 weeks and covers the core pillars of business (strategy, finance, and people), and gives students an understanding of the challenges their organizations may be facing.
The extended format tends to spread over the course of 12-14 weeks, delivered in weekly classes of three to four hours. Self-paced students are in control of their learning.
How much does a Mini MBA cost?
An MBA isn't a cheap affair. A top tier MBA can set candidates back over $100,000, which can leave them scrambling for the best paid jobs post-graduation to pay back their debt.
The average yearly cost in the US for a two-year MBA program is $60k, while Executive MBA students can expect to pay over $100k.
Andrew Crisp of CarringtonCrisp—marketing research and consultancy for higher education—observes how fewer companies pay for places on MBA programs for their employees—formerly an assurance for students of both funding and employment after graduation.
The cost for a Mini MBA course varies depending on where you take them—they are, unsurprisingly, significantly cheaper.
Tuition fees start at around $1k—the price of the University at Buffalo School of Management Mini MBA certificate—and go up to just shy of $6k—the cost of the Mini MBA at Pepperdine Graziadio Business School in California.
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