Can’t decide between a master’s degree or an MBA degree? To help you understand their differences and similarities, we spoke to Kateryna Skytalinska, International Admissions Manager at Geneva Business School.
When it comes to deciding which graduate degree to pursue, you might have a lot of questions. You might wonder, “Is an MBA and a master’s degree the same thing? Is an MBA more prestigious than a master’s degree? Is an MBA more costly than a master’s degree?” You might wonder which degree will earn you a higher salary, which will grant you more prestige and career opportunities, and which has lower costs.
Let’s examine these questions to determine what both graduate degrees entail and their similarities and differences. Once you understand each degree, you will be able to make a more informed decision about which one is right for you.
If you’re trying to decide whether to do a master’s degree or an MBA, there are many factors to consider. Firstly, it is essential to be aware of the differences between the two types of programs. We spoke to Kateryna Skytalinska, the International Admissions Manager at Geneva Business School (located in Switzerland and Spain), to learn more.
“At a glance, the difference might seem really simple,” she says. “The master’s degree is mostly designed for young graduates, for students who have just finished their bachelor’s degree. Maybe they have undergone an internship or just graduated a few months ago. They would like to pursue a postgraduate degree.” (01:08)
Alternatively, “An MBA is mostly designed for professionals who have at least two years of work experience, the requirements may vary from institution to institution, sometimes it can be two years of work experience, sometimes three… an MBA focuses on leadership and management skills that a candidate would obtain upon completing the MBA degree. And also work experience is required.” (01:33)
MBA programs provide students with an overview of the business fundamentals (HR, marketing, finance) as well as general leadership and management skills. On the other hand, Kateryna says that master’s programs are more specialized and focus on a specific study area.
“A [business] master’s degree mostly focuses on one specific area, for example, accounting, human resources, marketing, and so on. It focuses on the expertise of that chosen area from a more technical and practical point of view. Whereas the MBA degree mostly covers a broad range of subjects in order for the candidate to be able to oversee various business functions in a company from a leadership or management perspective,” Kateryna explains. (02:40)
While the two degrees differ significantly, they also share some common features worth exploring.
Although the programs tend to differ in terms of content and class profile, the two degrees also share several similarities. According to Kateryna, one shared feature of both a business master’s degree and an MBA is the amount of group work during each program.
“Both master’s and MBA degrees contain a lot of group projects, which would comprise three or four people working on a specific business challenge together. There is a lot of group work [in both degrees],” she explains. (11:40)
Another similarity between the two is the course workload. Kateryna says that the master’s programs and MBA programs at Geneva Business School tend to have similar student workloads.
In the case of Geneva Business School, she explains, “Regarding the workload for the master’s degree and for the MBA degree, it’s the same. Even the study hours are the same, all of our students are studying in the evening to be able to combine some professional experience, maybe an internship or part-time job, with their studies.” (11:15)
Considering this, it is important to note that both an MBA degree and a master’s degree are demanding. Both degrees entail a similar amount of coursework, and both often require students to complete group projects and independent learning.
From a student’s perspective, MBAs are certainly more popular. In the GMAC Prospective Students Survey 2024 Report, the two-year full-time MBA was the most popular option for the preferred program type worldwide. The second most popular program was the one-year full-time MBA. The most popular business master’s degrees are Master of Finance and Master of Data Analytics.
Kateryna explains that there is ongoing debate as to whether employers find an MBA or a master’s degree more prestigious. She notes that it depends on the employer and the job function that candidates are applying for. She says, “A lot of recruiters are aware that in an MBA degree a wide range of subjects are being covered. If a candidate is applying for a human resources-related job then the recruiter might be more interested in somebody with a master’s in that specific area. But it really depends on the role that the company is looking for.” (07:59)
Ultimately, Kateryna says that there are too many factors at play to say that one degree is more prestigious than the other.
“It depends on the university, the business school that the candidate graduated from – the ranking and the prestige. But I would say both of them (master’s and MBA) are equally prestigious.” (08:35)
Factors such as the student’s academic achievements and work experience, the prestige of the school and program, and the school’s rankings and accreditations all contribute to the prestigiousness of a degree.
Ultimately, how do you decide between a master’s degree or an MBA degree? Instead of trying to choose based on the perceived prestige of each one, try looking at it from your personal perspective. Think about your own career goals and how each degree would help you achieve them.
Kateryna advises, “If you have doubts about whether a master’s or MBA is more suitable for you, I suggest you define what your goal is, why you are looking for a master’s or MBA degree, what you would do with it, and how it would benefit you.” (12:47)
She also adds, “I would also encourage you to get in touch directly with the institution of your interest and admissions managers of your institutions. Most of them would be delighted to schedule a call with you to understand your background and to tell you more about their specific program.” (13:04)
Kateryna further highlights that the academic curriculum, the faculty’s expertise, the student body, and the institution’s ethos can be pivotal in deciding which program and school best fit you.
The key to this decision is which one is right for you. Whichever program is the missing link between you and your career goals that’s the right one for you.
Read our previous articles to learn more about graduate programs worldwide, admissions, financing your master’s degree, and related topics.
