Learn the differences between these two popular business degrees to figure out which is the right path for you.
Both a Master of Business Administration (MBA) and a Master of Science (MS) degree can offer a comprehensive graduate-level business education. However, an MBA will provide an interdepartmental look at how businesses run, while an MS will provide a nuanced understanding of one particular area of business.
The biggest difference between an MBA program and a business master's program is who the program is designed for. Typically, an MBA candidate will enter their program with a few years of work experience, while an MS learner will enter their program with little or no experience working in business.
Take a closer look at the differences—and similarities—between MBA and MS degrees.
An MBA is an advanced degree focusing on high-level business leadership and managerial skills.
MBA programs are slightly different from school to school but will typically have a combination of core curriculum and elective courses. Through the core curriculum, MBA programs will cover a range of foundational business topics, including areas such as:
Management
Strategy
Finance
Ethics
Communications
Students will often have the opportunity to dive deeper into individual topics of interest with elective courses and concentrations. Some potential (sometimes called specializations) may include:
Accounting
Entrepreneurship
Health care management
With this widespread education, earning an MBA degree can equip you for senior and executive-level positions across many areas of business and can prime you for leadership positions that oversee multiple departments.
Many students pursue an MBA degree after a few years in the workforce in order to advance their careers. You’ll find full-time and part-time programs that allow MBA candidates to continue working while attending school. Depending on the type of program, an MBA will typically take between one and five years to complete.
Some companies that hire the most MBAs include consulting firms like McKinsey, Bain, BCG, and AT Kearney; tech companies like Amazon, Google, and Microsoft; and accounting firms like EY and Deloitte [1, 2]. When it comes to MBA salaries, according to the Graduate Management Admission Council, MBA recipients graduating in 2023 earned a median starting salary of $125,000, up from $115,000 in 2022 [3], though that number can vary quite a bit depending on the business school attended.
An , also globally known as an MSc, is a Master of Science. MS degrees can focus on scientific areas of interest, like biology, engineering, or statistics, or they can suggest a scientific approach to social sciences, such as psychology and economics.
Master's degrees in business are more likely to align with the latter interpretation. These degrees will typically offer a depth of knowledge in one chosen area of business, such as:
Finance
Accounting
Marketing
Like MBAs, MS programs will vary by school. Business master's programs may incorporate some foundational knowledge across all business sectors, but the bulk of the coursework will concentrate on your chosen field, effectively making MS graduates experts in their particular areas of business.
Depending on the program, full-time and part-time enrollment options may be available, and it will typically take between one and two years to earn your degree.
This path prepares students for specialized careers within their chosen field. It can serve as a starting point for a career shift or to level up in a particular sector.
Prospective MS students do not necessarily have prior work experience in business, and many programs are designed for students with less than two years of work experience.
MS starting salaries vary across disciplines. For the class of 2023, the projected median starting salary of an MS recipient in the US in the fields analyzed ranged from $75,000 (accounting) to $80,000 (business or data analytics) [4].
Both MBA and MS degrees offer an intimate understanding of the mechanisms that drive business, as well as opportunities to network with future colleagues. An MBA will offer a broader understanding of business, while an MS will explore in-depth knowledge in one key business area.
MBA | MS |
---|---|
Covers a range of topics across all business sectors | Covers one specific area of business in depth |
Applicants typically need several years of work experience [5] | Often allows applicants fresh out of undergraduate programs [5] |
Generally, one to three years to complete, depending on the program | Generally, one to two years to complete, depending on the program |
Median starting salary is $125,000 [3] | Median starting salary is between $75,000 and $80,000, depending on concentration [4] |
For a more specific comparison, take a look at the and (Master of Science in Management) programs at the University of Illinois Urbana-Champaign’s Gies College of Business, both offered on Coursera.
Master of Business Administration | Master of Science in Management | |
---|---|---|
Degree type | MBA | MS |
Total tuition | About $24,000 | Under $13,000 |
Total credit hours | 72 (18 courses plus 3 capstone projects) | 36 (9 courses) |
Time to complete | 2-3 years | 1-2 years |
Required core areas | Leadership and management, managerial economics and business analysis, value chain management, financial management | Marketing, strategic business management, leadership, process management, global business, communicating with data, and finance |
Specializations | Strategic leadership and management, managerial economics and business analytics, value chain management, financial management, global challenges in business, entrepreneurship and strategic innovation, digital marketing, business analytics, mergers and acquisitions | (Informal) Business value and project management, global business challenges, business data management, and communication |
Median starting salaries after completing an MBA are higher than those of an MS, though this salary discrepancy is likely tied to the fact that most MBA recipients have already spent a few years in the workforce, while most business masters recipients have not.
The following represents some of the median starting salaries in the US for MBA and MS recipients across disciplines:
Major | Median starting salary |
---|---|
Accounting (MS) | $79,000 [6] |
Analytics (MS) | $84,000 [7] |
Business Administration (MBA) | $99,000 [8] |
Finance (MS) | $81,000 [9] |
Management (MS) | $82,000 [10] |
*Data represents base salary, excluding bonuses, commissions, and other forms of additional compensation
Holding a dual degree is typically not necessary in order to enter any business field, however, some learners choose to pursue both their MBA and MS at the same time. You might do this in an effort to make your credentials stand out to potential employers, or because you simply love the subject matter and want to keep learning.
Schools that offer a joint program will recommend different schedules depending on the specific degrees you’re interested in; some will start with MBA classes, while others will begin with MS coursework. You’d need to check with your school to learn the path they recommend.
Since earning a dual degree usually comes with an additional cost, the majority of students pursuing a master’s in business will choose either an MBA or MS degree.
In deciding whether an MBA or MS is right for you, consider the type of business experience you've already built up and revisit your career goals. If you envision yourself as a future leader of an organization at large, perhaps you’ll want to look into MBA programs. If, on the other hand, you see yourself rising to the top of a specific team within an organization, you might want to consider an MS program that aligns with your future team.
As you look into various MBA and MS programs, you might also consider reaching out to friends and colleagues who hold advanced business degrees, or contacting admissions counselors at your school of interest with any questions.
Either way, both MBA and MS degrees can be great options to build a solid foundation that can propel your business career forward. Choosing the right one for you ultimately comes down to your own goals.
Is it better to get an MBA or an MS? The answer varies depending on your goals. Learn more about the different types of business degree programs and continue your education on Coursera. Pursue your degree from anywhere with online classes while gaining the knowledge and skills you need to move forward in your career.
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Business Because. "Which Companies Hire The Most MBAs?, https://www.businessbecause.com/news/mba-jobs/7095/which-companies-hire-the-most-mbas." Accessed December 11, 2024.
Business Because. “Which Companies Hire Online MBA Graduates?, https://www.businessbecause.com/news/online-mba/9603/which-companies-hire-online-mba-grads.” Accessed December 11, 2024.
Graduate Management Admission Council. "Corporate Recruiters Survey: 2023 Summary Report, https://www.gmac.com/-/media/files/gmac/research/employment-outlook/2023_gmac_corporaterecruiters_report.pdf?rev=d1a497e4243e4b8e826bb4651e3867c9." Accessed December 11, 2024.
Graduate Management Admission Council. “Corporate Recruiters Survey: 2024 Summary Report, https://www.gmac.com/-/media/files/gmac/research/employment-outlook/2024-corporate-recruiters-survey/2024_gmac_crs_report.pdf?rev=43588bfef9a549af9bb00a432a3d7b06.” Accessed December 11, 2024.
Miami Herald. “MBA vs. Master’s Degrees: What You Need to Know, https://www.miamiherald.com/careers-education/mba-vs-masters/.” Accessed December 11, 2024.
Payscale. “Master of Science (MS) Accounting Degree, https://www.payscale.com/research/US/Degree=Master_of_Science_(MS)%2C_Accounting/Salary.” Accessed December 11, 2024.
Payscale. “Master of Science (MS) Business Data Analysis Salary, https://www.payscale.com/research/US/Degree=Master_of_Science_(MS)%2C_Business_Data_Analysis/Salary.” Accessed December 11, 2024.
Payscale. “Master of Business Administration (MBA) Salary, https://www.payscale.com/research/US/Degree=Master_of_Business_Administration_(MBA)/Salary.” Accessed December 11, 2024.
Payscale. “Master of Science (MS) Finance Salary, https://www.payscale.com/research/US/Degree=Master_of_Science_(MS)%2C_Finance/Salary.” Accessed December 11, 2024.
Payscale. “Master of Science (MS) Business Management Salary, https://www.payscale.com/research/US/Degree=Master_of_Science_(MS)%2C_Business_Management/Salary.” Accessed December 11, 2024.
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