When it comes to employment, a traditional Masters degree or Masters of Business Administration (MBA) adds excellent value for job-seeking candidates. However, studying at the graduate level requires a lot of hard work and serious commitment. Therefore, it is essential to choose a graduate degree that helps you foster your expertise and fulfill your potential.
Choosing a masters degree or MBA depends upon a person’s career goals. Therefore, individuals who are contemplating which route to take must understand their options before making a decision. How do you make the right decision? Well simply by considering where you stand and where you want to be in the next few years in terms of career.
Graduate Business Degree: MBA vs. Masters?
There is a huge difference between the Masters and MBA that most of us forget to differentiate between. In the aspect of professional experience and career goals, these programs cater to entirely different groups of people. We live in a world full of learning and development opportunities.
Here are some of the key differences between a Masters degree and an MBA, to help you make the right choice.
When it comes to an MBA program and a Masters degree, the intention behind both these degrees is different. A Masters degree seeks to build an academic background of the student while an MBA develops appropriate professional skills among the students. An MBA program offers better overall knowledge of business, but a master’s program targets a specific area of expertise.
Another difference between these graduate studies is the teaching style. There are a lot of variations among universities when it comes to teaching styles, but MBA programs focus more on case studies and real-world business issues and corporate strategies. However, its Masters counterpart focuses more on traditional classroom lectures. The Masters program is built around classroom lectures and laboratory-based research.
Masters degrees are suitable for candidates who are starting their graduate education before entering the job market. MBA degrees, on the other, make use of peer learning and industry experience; therefore, for most international MBA programs, there is a pre-requisite of two years of professional job experience. There are, however, countries and business schools that don’t have this requirement, so get in touch with education consultants in Pakistan to secure admission in the MBA program with no work experience.
MBA programs are for students with any academic background like medical sciences or engineering who want career flexibility in business and management areas. Master programs, on the other hand, are for students who wish to highly specialized knowledge in specific areas of industry. Therefore, masters programs require specific academic backgrounds in the relevant field of study. For example, an engineering bachelor’s student cannot be eligible for a Masters degree in Economics.
One of the major differences between a Masters program and an MBA is illustrated in the scope of specialization between these programs. MBA degree equips students with a range of business and corporate-related situations. A specialized masters degree, on the other hand, provides the candidate with precise academic and theoretical knowledge in specific business areas like Human Resources, Marketing, or Finance.
There are a lot of differences in the teaching styles, too, between these programs. In an MBA, students get more industry exposure and real-life business work, while the Masters program deals mostly with classroom teaching and research. MBA is a degree that covers multiple subjects, from finance and accounting to marketing and leadership. Masters degree, on the other hand, is more specialized that focuses more in-depth into one topic such as economics, management, marketing or banking finance, etc.
Masters degree curriculum focuses on developing technical and analytical knowledge in a specific area, rather than broader management and leadership as an MBA degree. Therefore, a Masters degree is recommended for individuals who want to build their careers through subject expertise.
MBA is a suitable option for those who want to pursue their careers in the field of general management, leadership, or entrepreneurship. However, those who wish to become real experts in one area like finance, accounting, or HR management, then a Masters degree, is a more suitable option.
According to a survey by GMAC, a business school body said around 75% of the employers said they prefer employees with an MBA over a Masters in Management. However, Bryony Moore, a member of the Association of MBAs, says, “Some Skills cannot be taught in the classroom. To get most out of an MBA, you need to build up life and work experience.” The survey also reported that 57% of the European firms prefer to hire graduates of Masters program with more specific knowledge.
The Right Choice for YouGlobal demand for both MBA and Masters programs continues to grow, and there is always a debate going on over these two degrees. However, the choice of the program solely depends upon your ambitions and your background qualifications.
Therefore, get assistance from education consultants in Pakistan and choose the best degree to fulfill your potential.
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