MBA vs. MSc: Choosing Which Is Better for You

Choosing the right postgraduate programme is a major decision. Any time you pursue a new time and financial commitment, it’s reasonable to want to understand how your options align with your goals.

A Master of Business Administration (MBA) and a Master of Science (MSc) degree can offer a comprehensive postgraduate-level business education. However, an MBA provides an interdepartmental look at how businesses run, while an MSc provides a nuanced understanding of one particular area of business, such as financial analytics or strategic management.

The biggest difference between MBA and MSc programmes is who the programme is designed for. Typically, MBA students want to pursue management or higher-level business positions within their organisation, and many may already have working experience in a business field. MSc students typically enter their programme with little or no experience working in business and are more interested in a particular business area's technical and theoretical foundations.

To decide which path is right for you, consider each of the degree programmes in more depth, including typical coursework and career outlook. 

What is an MBA degree?

An MBA is an advanced degree focusing on high-level business leadership and managerial skills. It often offers a mix of coursework, practical experiences, casework, and experiential learning to equip students to enter diverse careers within the business field.

Typical MBA coursework

MBA programmes are slightly different between institutions but typically combine core curriculum and elective courses. Through the core curriculum, MBA programmes will cover a range of foundational business topics, including areas such as:

• Management

• Economics

• Supply chain management

• Strategy

• Finance

• Marketing

• Ethics

• Communications

Learners often have the opportunity to dive deeper into individual topics of interest with elective courses and specialisations. Some potential MBA specialisations may include:

• Accounting

• Marketing

• Business analytics

• Entrepreneurship

• Finance

• Organisational behaviour

• IT management

• Services management

• Healthcare management

MBA salary and job prospects

With this widespread education, earning an MBA can equip you for senior and executive-level positions across many business areas and prime you for leadership positions overseeing multiple departments.

Many learners pursue an MBA degree after a few years in the workforce to advance their careers. You can find full-time and part-time programmes, which allow MBA candidates to continue working whilst attending school. Depending on the type of programme you choose, you can anticipate spending an average of one to two years of full-time study or three to five years of part-time study, but durations can vary significantly.

According to Payscale, the average base salary for an MBA graduate in India is ₹9.95 lakhs [1]. But, as an MBA graduate, your salary depends on your professional role and experience level. If you have years of prior work experience, your earnings may be higher than someone with minimal work experience before entering the programme. For example, the average business manager salary in India is ₹11.1 lakhs, but this starts at an average of ₹6.9 lakhs for those with three to four years of experience and goes all the way to an average of ₹17 lakhs for those with 15 or more years of experience, according to AmbitionBox [2].

Earn your degree

What is an MSc degree?

An MSc degree is a Master of Science, an advanced degree often focusing on scientific areas of interest, like biology, engineering, or statistics. These degree options can also suggest a scientific approach to social sciences, such as psychology and economics, focusing on research skills and analytical thinking.

MSc degrees in a business area 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

• Data analytics

• Accounting

• Management

• Marketing

Typical MSc coursework

Like MBAs, MSc programmes will vary by school. Business masters programmes may incorporate some foundational knowledge across all business sectors. Still, most of the coursework will concentrate on your chosen field, effectively making MSc graduates experts in their business areas. Often, coursework focuses on modern theories, mathematical and scientific foundations, and learning analytical tools and software with practical applications in the workplace. Learning modules may combine lectures, projects, case studies, and examinations. 

Depending on the programme, full-time and part-time enrollment options may be available, especially if you choose an international or online option. Earning your degree typically takes between one and two years.

MSc salary and job prospects

This path prepares learners for specialised 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 MSc students do not necessarily have prior work experience in business, and many programmes even allow graduates from disciplines unrelated to the master’s programme topic.

According to Payscale, the average annual MSc salary in India is ₹9.24 lakhs [3]. However, MSc starting salaries vary across disciplines. For example, the average annual salary for a financial analyst in India is ₹6.1 lakhs [4], whilst a marketing manager earns an average of ₹12.6 lakhs per year [5]. 

What are the differences between an MBA and MSc?

Both MBA and MSc degrees offer an intimate understanding of the mechanisms that drive business, as well as opportunities to network with future colleagues. An MBA may offer a broader understanding of business, whilst an MSc will explore in-depth knowledge in one key business area, such as finance or marketing.

For a more specific comparison, you can look at the iMBA and iMSM (Master of Science in Management) programmes at the University of Illinois Urbana-Champaign’s Gies College of Business, both offered on Coursera. Although individual programmes vary, this can give you insight into the differences you might see between programmes.

MBA vs MSc: Job outlook after graduation

Globally, median starting salaries and hiring projections after completing an MBA are higher than those of an MSc. However, this salary discrepancy is likely tied to the fact that MBA recipients typically have already spent a few years in the workforce, whilst business masters recipients usually have less experience (if any).

The industry you enter with your degree will likely vary depending on your speciality, but certain industries have a more positive job outlook for particular master’s programmes. MBA graduates see strong hiring outlooks across consulting, finance/accounting, and technology [6]. In contrast, master’s in accounting graduates have the strongest outlook in finance and accounting, and master’s in management or data analytics graduates have an especially strong hiring outlook in technology sectors.  

MBA/MSc dual degrees

Holding a dual degree is typically not necessary to enter any business field. However, some students choose to pursue both their MBA and MSc at the same time. Consider doing this 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 programme will recommend different schedules depending on the specific degrees you’re interested in; some will start with MBA classes, whilst others will begin with MSc coursework. You’d need to check with your school to learn their recommended path. In some cases, each degree might come from a separate partner institution.

How to decide between an MBA and MSc

In deciding whether an MBA or MSc 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 organisation, perhaps you’ll want to look into MBA programmes. If, on the other hand, you see yourself rising to the top of a specific team within an organisation, you might want to consider an MSc programme that aligns with your future team.

As you research various MBA and MSc programmes, you might also consider contacting friends and colleagues with advanced business degrees or contacting admissions counsellors at your school of interest with any questions.

Either way, MBA and MSc degrees can be great options for building a solid foundation to propel your business career forward. Ultimately, choosing the right one for you comes down to your own goals.

Begin your journey toward a business degree

Both MBA and MSc programmes offer postgraduate programmes related to business. Whilst MBA curricula are often more general, business MSc programmes may specialise in finance, management, accounting, marketing, or other professional areas within corporate organisations. 

Learn more about the different types of business degree programmes, such as the iMBA and iMSM programmes, and consider continuing your education on Coursera. Pursue your degree from anywhere with online classes while gaining the knowledge and skills you need to advance your career.

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