What's the difference between an MBA and a master's
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An MBA and a master's degree offer many of the same career benefits, but they usually differ in focus. While an MBA focuses on developing business leadership skills, a master's degree, like a master of science (MS), develops specialized and technical skills.
Explore the differences between an MS vs. MBA to figure out which one suits you best.
What is in an MBA program?
MBA programs explore the core pillars of business from a management perspective. You'll study marketing, finance, and human resources and develop the leadership and decision-making skills that contemporary organizations demand.
Most MBA programs feature 30-60 credits and take about two years to complete. Unlike general master's programs, MBAs encourage or even require students to have professional experience to improve classroom discussions and real-world applications.
What jobs can you get with an MBA?
Here are some potential career paths you might pursue with an MBA, along with salary data from the Bureau of Labor Statistics (BLS):
What is a master's degree?
A master's degree is a 1-2 year and 30- to 60-credit graduate degree that follows a bachelor's degree. These programs typically explore more advanced and specialized topics than undergraduate programs. They often include coursework, research, and a thesis or final project. Some disciplines may also require you to complete a practicum.
Available in many subjects, a master's degree can help students acquire a wealth of skills, but many programs focus on developing leadership and problem-solving abilities in graduates. As a result, master's degrees often help graduates advance their careers and boost their earning potential.
What jobs can you get with a master's degree?
Here are some potential career paths you might pursue with an master's degree, along with salary data from the BLS:
Which one is right for me - MS vs MBA?
The choice between a master's and MBA depends on your career goals and interests. Both degree types can have many similarities, including program length, cost, and course load.
However, these degrees often appeal to different interests.
Get a master's if …
- You want to develop a specialization or pursue certification and/or licensure, particularly in a non-business field.
- You want to pursue a doctorate in the future.
- You want a more interdisciplinary education.
- You want to develop more technical skills.
Get an MBA if …
- You want a leadership role in a business-related field.
- You want to build on existing business experience.
- You want the prestige and recognition that comes with an MBA degree.
- You want an interactive program with more networking opportunities.
How much do an MBA and master's degrees cost?
According to the National Center for Education Statistics, the average annual graduate tuition for all degree types was $20,513 in 2021-22. While many schools offer affordable options, MBA programs typically have higher tuition rates than other master's programs.
For example, Stanford University charges quarterly tuition of $20,365 for most of its graduate programs and $27,485 for its MBA program. On top of tuition, you also have to consider room and board, student fees, and travel costs.
Regardless of your degree type, consider applying for financial aid. This process starts with filling out the Free Application for Federal Student Aid, which could qualify you for federal loans and grants, plus numerous other scholarships.