This post may contain affiliate links, which means that I may earn a commission if you click on the link & sign-up or make a purchase. You will NOT be charged extra for using the link, but it goes a long way in supporting this blog. I only recommend products or services that I have personally used or believe will add value to my readers.
MBA vs Masters in Management – which is better? In the realm of higher education, the MBA is widely regarded as one of the most valuable master’s degrees. However, you might also encounter another similar degree in your research—the Master’s in Management.
But is it worth considering? How do these degrees compare in terms of curriculum, job prospects, and overall value? In this article, we’ll delve into these aspects and help you determine which degree might be the better choice for your career goals.
MBA vs Masters in Management
Understanding the MBA
The MBA, or Master of Business Administration, is a general business degree designed to provide a broad understanding of various business disciplines. Typically, an MBA program spans two years and covers subjects such as marketing, accounting, finance, process improvement, and management.
The goal is to offer a holistic view of business operations, which is particularly valuable for those without a business background or experience.
One significant advantage of an MBA is the availability of specialization tracks. For instance, if you’re interested in digital marketing, some schools offer a specialized track in this area, allowing you to gain more in-depth knowledge and differentiate your MBA.
Specializations can range from analytics and human resources to global business and mergers and acquisitions, providing a tailored educational experience.
The Master’s in Management
On the other hand, a Master’s in Management is often marketed as an alternative or complementary degree to an MBA. This program usually takes about a year to complete and focuses more narrowly on management theory and practice.
The curriculum often includes courses in leadership, organizational change, process management, human resources, business ethics, and law.
While some management programs might include traditional MBA courses like marketing and finance, these are less common. More frequently, you’ll find management courses within MBA programs, emphasizing the MBA’s broader approach to business education.
Job Prospects and Career Outcomes
A crucial factor in choosing between an MBA and a Master’s in Management is the potential return on investment in terms of career outcomes. An MBA is generally more recognized and versatile, qualifying you for a variety of business roles.
Job postings often list an MBA as a preferred or required qualification, making it a more attractive option for job seekers.
The median salary for MBA graduates is around $500,000 annually, reflecting the degree’s value and the clear data available on student outcomes. In contrast, there is less definitive data on the career outcomes of those with a Master’s in Management, making it harder to assess its financial return.
Should You Consider Both Degrees?
While some might wonder if obtaining both degrees could be beneficial, the answer is generally no. An MBA already covers much of what a Master’s in Management would, plus more. Therefore, the incremental benefit of having both degrees is minimal.
An MBA is sufficient to qualify you for management positions, especially if you choose a program with a relevant specialization.
It’s important to note that neither degree will likely land you a management position immediately unless you already have management experience. Both degrees can, however, get your foot in the door, after which you’ll need to gain practical experience to advance to management roles.
Conclusion
In summary, the MBA stands out as the better choice for most individuals due to its broad curriculum, higher recognition, and better job prospects. Specialization tracks within MBA programs offer additional value, allowing you to tailor your education to your career goals. While a Master’s in Management might appeal to those specifically focused on management theory, an MBA provides a more comprehensive and versatile business education.
For those considering an MBA, exploring available specialization tracks can help you stand out in a competitive job market and advance your career.
