Graduate school is a great way to expand your knowledge and education, develop your professional identity, and meet others with like-minded interests. More often than not, professionals who pursue graduate degrees do so to become experts in their field and earn more than their bachelor’s degree-carrying peers.
Yet, how do you know how to choose between a Master’s of Business Administration (MBA) vs. a master’s degree in another field? We’ll take a closer look at both a Master’s vs. an MBA degree, plus the differences between the MBA and Master’s degrees so that prospective students can make an informed decision.
What is a Master’s of Business Administration (MBA)?
A Master’s in Business Administration, or MBA, is an advanced degree that gives candidates the edge they need in recruitment, promotions, and opportunities in management and leadership.
This graduate-level degree prepares candidates for leadership roles with highly transferable skills, including problem-solving, critical thinking, strategic planning, financial acumen, and time and people management.
Many colleges and universities offer in-person and online MBA programs which share similar:
- Academic and career opportunities
- Coursework
- Educational requirements
- Faculty
- Rigorous accreditation process
- Tuition and fees cost
Keep in mind that online MBA programs offer asynchronous classes, meaning students can study whenever and wherever they want as long as they adhere to their chosen schools’ and programs’ specific deadlines.
What is a master’s degree?
Master’s degrees are extremely worthwhile, especially if you want to learn more, grow your skills, make connections, and earn a higher salary overall.
These programs are generally designed for those just starting in their career. They may also help graduates earn additional qualifications before searching for a full-time job. Master’s programs are better suited for candidates who want to focus on a particular specialty or topic area.
As such, coursework in a master’s program is hyper-focused on a specific area of interest and offers candidates more opportunities to study the areas they are passionate about.
Working professionals who hold master’s degrees have the potential to earn $11,000 more annually than those with a bachelor’s education.
Lastly, candidates pursue their master’s degree to qualify for their dream careers, such as becoming a postsecondary professor, career counselor, or education administrator, or to change their career path altogether.
Every college and university will offer different master’s degree programs. For example, University of Bridgeport offers the following graduate-level degree programs:
- Acupuncture
- Analytics and Systems
- Artificial Intelligence
- Biology
- Biomedical Engineering
- Business Administration
- Chinese Medicine
- Computer Science & Engineering
- Counseling
- Criminal Justice
- Dental Hygiene
- Education Master’s program
- Electrical Engineering
- Finance
- Mechanical Engineering
- Music
- Master of Science in Nursing (MSN)
- Nutrition
- Physician Assistant
- Public Health
- Technology Management
Download our free informational guide and learn if an MBA with University of Bridgeport is right for you!
The difference between an MBA vs. master’s degree
Choosing between a master’s vs. MBA degree will largely depend on your interests, goals, and needs.
Before pursuing graduate school, consider asking yourself:
- Am I in a financial position to attend graduate school?
- Am I pursuing graduate school for the right reason or to avoid a challenging job market?
- Is a graduate degree necessary for my specific career goals?
- Is now a good time to apply?
- Is this an area of study that I am genuinely passionate about?
Additionally, students should consider the curriculum, career outcomes, and personal goals of a master’s vs. MBA program.
MBA vs. master’s curriculum
The MBA curriculum prepares students for high-level managerial roles in a number of fields, including healthcare, human resources, finance, and more. Core coursework expected of MBA students may include:
- Advanced Financial Management
- Information Systems
- Marketing and Branding
- Organizational Behavior
These programs also allow students to complete three classes (nine credits) of in-depth study in an area of their choice. Students can choose from MBA concentrations in Accounting, Analytics Intelligence, Finance, Health Care Management, Human Resources Management, Management, or Marketing.
The curriculum for a master’s degree will depend on the area of concentration. Candidates will spend most of their time learning the advanced knowledge they need in their chosen field, as well as soft skills such as communicating effectively, empathizing with others, and using their voice when needed.
Be prepared to write a lot of papers, including a lengthy thesis, and when reading, consider why you are reading the specific material in the first place.
MBA vs. Master’s career outcomes
Both an MBA and a master’s degree are extremely beneficial degrees to have whether you’re looking to enter the workforce, change careers, or advance in your current field.
The benefits of both types of degrees include:
- Advancement: Advanced degrees also open up opportunities for advancement with a current employer. For example, if you’re currently working in a hospital, enrolling in an MBA program and concentrating on healthcare management would allow you to hone in on relevant topics, such as focus in management.
- Marketability: Graduate-level degrees give candidates a competitive edge many employers look for when hiring. They help differentiate you from other candidates and provide deeper knowledge than one learns from a bachelor’s degree. More specifically, MBA degrees lead to various careers, not just in business but also in marketing, finance, and even administration.
- Network: Many students attend graduate school to build and expand their network with expert faculty and like-minded peers. The relationships and connections formed in master’s and MBA programs can extend long after graduation and prove beneficial throughout your entire life and career. Students should also connect with their school’s career development office for tips on improving their resume, job search strategies, and best interview practices.
MBA vs. master’s personal goals
Personal goals are just as important, if not more important when it comes to deciding how to choose between an MBA vs. master’s degree.
Both degrees are great ways to speed up the trajectory of your career path, especially since many programs have flexible and accelerated options. Flexible start dates and, in some cases, an accelerated course of study allow students to study when and where they want and begin their careers all the more quickly.
Additionally, MBA programs and master’s degrees allow students to develop and strengthen skills in their specific areas of study.
With a master’s degree, you better understand your industry’s best practices and gain new strengths and skill sets that companies need for their leadership teams.
Lastly, achieving an advanced degree boosts an individual’s confidence and gives them a positive sense of self and self-worth. All of which leads to career and personal growth and success.
How do you choose between an MBA vs. master’s degree?
Choosing to enroll in a graduate program requires quite a bit of forethought and consideration.
Before enrolling in an MBA vs. master’s degree program, students should:
- Evaluate their goals, interests, and needs
- Look for financial aid, grants, and scholarship opportunities
- Research and speak with current students, faculty, and alumni
- Visit the school
Whatever advanced degree path you choose, University of Bridgeport will partner with you to help you advance your education and achieve your personal and professional goals.
Our career-focused master’s degree programs, including our MBA, will help you deepen your knowledge and build the skills you need for a rewarding career.