Understanding the Core Differences: MBA vs Master’s Degree
If you’re considering pursuing higher education, you may be facing the “MBA vs master’s degree” conundrum. While the two may seem similar, they can significantly shape your professional future. While both are graduate degrees, their structure, focus, and career outcomes differ considerably. Kateryna Skytalinska, an Education Officer for the Alumni Community at EIT (European Institute of Innovation and Technology), shares her expert insights about this topic.
Let’s break down the key differences and similarities between a master’s degree and an MBA degree to help you make an informed decision.
Who Should Consider a Master’s Degree?
Firstly, what is a master’s degree? Typically pursued after a bachelor’s degree, it is designed for recent graduates or those looking to deepen their knowledge in a specific discipline. A master’s program dives deep into technical and academic expertise. There are different types of master’s degrees, including a Master of Arts (MA), Master of Science (MS, MSc), among others.
Kateryna explains, “The master’s degree is mostly designed for young graduates. [It’s] for students who have just finished their bachelor’s degree. Maybe they’ve done an internship, or they just graduated a few months ago.” (01:08)
Specialized master’s degrees continue to grow in popularity, especially in data-driven fields like Artificial Intelligence, Cybersecurity, and Data Analytics. These programs are perfect for students looking to build expertise and enter a field as a specialist. A master’s degree is also important for those who want to pursue a career in research or academia. If you wish to pursue a PhD in the future, a (research) master’s degree may be necessary.
There are many advantages to completing a master’s degree, including a higher salary, better job prospects, and an expanded network. A master’s degree can take one to two years to complete.
Who Is the MBA Designed For?
Similarly, an MBA falls under the umbrella term of a master’s degree. However, an MBA degree (Master of Business Administration) differs in that it is tailored for professionals with work experience. MBA candidates typically have 2- 5 years of work experience or more.
Kateryna adds, “An MBA degree is mostly designed for professionals who have at least two years of work experience… sometimes [it’s] three years of work experience. An MBA degree focuses on a broad range of subjects. It mostly focuses on leadership and management skills.” (01:33)
MBAs are ideal for those who want to improve their leadership skills, advance towards managerial roles, and develop a broader understanding of business operations.
Who Is the Executive MBA (EMBA) Designed For?
Similarly, an Executive MBA (EMBA) degree is suited for mid to senior-level business professionals. An EMBA is ideal for those who want to take their careers to the C-suite level, enter senior management, or start their own business.
An MBA is a great stepping stone for greater personal growth and career advancement. An MBA can lead to higher salaries and better career prospects. Furthermore, an MBA can be a great way to gain experience and connections in a different field. This is advantageous for those wanting to expand their career focus or make a career pivot.
Full-time MBA programs typically take around one to two years to complete. Part-time MBA programs can take longer to complete. The duration depends on your study location and the format of your program. Some schools offer accelerated programs that can be completed in a shorter time.
The Differences Between MBA and Master’s Programs
Let’s further compare and contrast the differences between an MBA degree and a master’s degree.
- MBA programs: Offer a holistic business education covering leadership, management, finance, strategy, and operations. An MBA degree equips you with the skills to manage cross-functional teams and make strategic decisions at an organizational level.
- Master’s programs: Focus on depth, with advanced study in a single subject. This ensures graduates have a high level of expertise, preparing graduates for specialized roles in their chosen field.
“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, practical point of view,” Kateryna emphasizes. (02:40)
On the other hand, MBA programs provide students with an overview of the business fundamentals (HR, marketing, finance) as well as leadership and management skills.
Kateryna elaborates, “An MBA degree is mostly covering a broad range of subjects in order for the candidate to be able to oversee various business functions in a company from a leadership and management perspective.” (03:06)
The Similarities Between MBA and Master’s Programs
Both an MBA and a master’s degree are considerable investments of time, money, and effort. Both graduate degrees involve a considerable workload. They also share similarities in learning style.
Kateryna highlights, “Both master’s and MBA degrees require a lot of group projects… There is a lot of group work, individual work, lectures, and discussions. Participation in the topic, sharing your ideas, being open about expressing your opinion… the work load is pretty much the same.” (11:40)
These similarities ensure that whichever route you take, the learning experience will be immersive and rigorous.
Is an MBA More Prestigious Than a Master’s?
Prestige in education is increasingly tied to the school’s reputation, global rankings, and alumni network. Yet recent studies show that MBAs and master’s programs continue to be in-demand for international students.
According to the Graduateion Management Admissions Council (GMAC), the demand for MBAs continues to rise in recent years. After a few years of decline, applications to MBA programs increased by 12% from 2023 to 2024. Full-time MBAs remain the most popular choice, while flexible part-time and online MBA programs saw upward trends in applications.
Accounting and management master’s degrees, in particular, saw an increase in popularity. Around three-quarters of management and accounting master’s programs saw application growth. Furthermore, business master’s programs had a 30% increase in domestic applications, although there were some dips in international applications.
Ultimately, Kateryna says that there are too many factors at play to determine if one degree is more prestigious than the other.
She says, “It depends on the university or the business school that the candidate graduated from. Also, the rankings and the prestige, and the final transcripts of the student. I would say both of them (master’s and MBA) are equally prestigious.” (08:35)
Employers value both degrees. Their preferences may be based on the requirements of their organization and the skills they are looking for in roles.
How to Choose: MBA vs Master’s Degree?
In order to choose between an MBA or a master’s degree, reflect on your current career stage and professional goals.
“If you have doubts whether a master’s or MBA is more suitable for you, I suggest you define what your goal is. [Define] why you’re looking for a master’s or MBA, what you would do with it, [and] how it would benefit you,” Kateryna advises. (12:47)
Kateryna notes the added value of contacting schools and admissions teams directly to learn more about their program and whether it’s the right fit for you.
“I would encourage you to get in touch directly with the institution of your interest, with the admissions managers,” she adds. “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)
She suggests considering several institutions, making a list, and narrowing it down by considering which one is the best fit for you. Factors to consider include the academic curriculum, the professional expertise of the faculty, the student body, and what advantages it has to offer for your future.
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.
Career Outcomes and Opportunities
Career prospects vary significantly between the two degrees. An MBA opens doors to senior management, executive roles, and often higher salary potential due to its leadership training. Top industries hiring MBA graduates include Finance, Technology and IT, Consulting, Healthcare and Pharmaceuticals, and more.
Master’s graduates, by contrast, excel in roles requiring specialist expertise. Top industries hiring master’s graduates include Technology and IT, Healthcare and Biotechnology, Renewable Energy and Sustainability, Finance and FinTech, E-Commerce, Logistics, and Supply Chain, Education, Digital Marketing, and more.
Whether you choose a master’s or an MBA program, both can lead to rewarding career paths.
Final Thoughts: Which Degree Is Right for You?
There’s no one-size-fits-all answer in the MBA vs master’s debate. Ultimately, it is about which degree best aligns with your educational journey and long-term career goals.
As a general guideline, if you are hoping to become an expert in your field or pursue a career in academia and research, a master’s degree may be right for you.
Alternatively, if your career ambitions involve executive leadership, entrepreneurship, or management, the MBA might be the boost you need to achieve that next goal. The best degree is the one that bridges where you are and where you want to be.
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