Business Masters vs MBA Degree
How do I decide between a business masters vs MBA? The difference is in the specialty and in how many years of professional experience you have since earning your undergraduate degree.
The most generalized of all advanced business options, the MBA degree offers a comprehensive education in business administration. As a result, an MBA requires taking classes in all business disciplines.
Masters programs on the other hand are typically, but not always, designed for those just starting out in their career. They may help graduates earn additional qualifications before searching for a full-time job opportunity. Masters programs also are better suited for candidates who want to hone in on a certain specialty or topic area.
It is absolutely possible, and common, to pursue both types of degrees, meaning you don’t necessarily have to decide now between a masters vs MBA. Some jump into a masters degree to gain an advantage when entering the workforce, and then after a few years of professional experience, pursue an MBA to transition to a leadership role or venture out on their own.
Is there a better salary pay-off in pursuing one option compared to the other? That depends on several factors. According to the Graduate Management Admission Council’s Alumni Perspective Survey, business school alumni report that, on average, it takes less than four years to recoup the cost of their education, and then some. While specialized business masters program alumni report slightly faster ROI times than MBA alumni, it’s entirely dependent on an individual’s personal situation (cost of education, time it takes to complete the degree, and current economic conditions).