MBA vs. Master’s: Which Degree Will Fast-Track Your Career?

Picking a graduate degree that aligns with your career goals can be a challenge. Higher education can provide you with the knowledge, skills and credentials you need to climb up the next rung of the career ladder, but with so many degrees to choose from, it’s normal to feel a sense of uncertainty as you weigh the pros and cons of an MBA vs. a more specialized master’s degree.

While both options offer pathways to advancement, they differ significantly in their focus, content and career outcomes. Understanding these differences can make all the difference when it comes to making an informed decision.

Read on to learn about the fundamental differences between an MBA and master’s programs.

The Main Difference Between an MBA and a Master’s Degree

An MBA, or Master of Business Administration, is a graduate degree that is designed with the goal of developing a broad-based skill set. You’ll take courses in finance, marketing, operations, management, entrepreneurship and more.

To get an MBA, you’ll have to study full-time for two years, or you can complete the degree in three to four years by taking part-time classes. During your education, you’ll be exposed to case studies that look at problems real businesses face. Business schools also place a great deal of emphasis on team projects and assignments with real-world applications.

In contrast, master’s degrees offer a deep level of specialization in a particular field of study. You’ll build on your existing technical expertise and emerge as a leader in your specific discipline. These degrees are typically targeted toward individuals looking to advance in their current field.¹

Should you pursue an MBA or a master’s degree? It depends on your goals and experience. An MBA is more useful if you’re trying to break into senior management or fields like consulting, private equity and investment banking. Master of Science and Master of Arts degrees tend to attract younger students² who may be aiming for a senior-level individual contributor role or a lower-level management position.

Is an MBA Higher Than a Master’s?

No, an MBA is not higher than a master’s degree. That’s because an MBA is a type of master’s degree. Whether you choose an MBA or a master’s in a different field, you’re still getting a graduate-level education. Both require a bachelor’s degree for admission, although MBAs typically consider prior work experience more when admitting students versus many master’s programs, which tend to care more about grades and standardized test scores.

MBAs are often grouped with other professional degrees, such as JDs (law degrees) and MDs (medical degrees). Plus, MBAs are one of the most commonly awarded graduate degrees in the United States.³ It’s also important to note that MBAs can lead to higher salaries upon graduation compared to other degree types.

Ultimately, the difference between an MS or MA and an MBA lies more in the course content than in whether or not one degree is better or "higher" than the other.

MBA vs. Master’s by Program Type

Working professionals have a broad range of business-focused master’s programs that may act as compelling alternatives to a traditional MBA. Each degree is optimized for a specific career path, which means the right degree for you might differ from the best degree for a friend or colleague.

Comparing specific programs can help you better understand whether an MBA, MS or MA will better serve your educational and career needs.

Master’s in Business Analytics

A Master of Science in Business Analytics (MSBA) prepares you to make data-driven decisions for businesses. Whether you’re working in marketing or operations, this type of program can boost your career through advanced coursework in the following sought-after skills:

• Statistical modeling
• Data visualization
• Machine learning
• Predictive analytics

You’ll develop hard technical skills in programming languages like Python and R. At the same time, you’ll learn how to present complex data to business leaders and glean valuable insights.

MBAs also offer low-level analytics courses, but you’ll gain a much deeper skill set in this area with an MSBA. In contrast, an MBA will offer far more leadership and management training.

Master’s in Marketing

A Master of Science in Marketing offers specialized training in these areas:

• Understanding consumer behavior
• Digital marketing strategies
• Brand management
• Effective market research methodologies

You’ll gain advanced skills in hands-on subjects such as search engine optimization, search engine marketing and marketing automation.

An MBA will also offer some training on the marketing fundamentals, but this degree serves more to teach you how to oversee and lead broad business functions. An MBA may be better suited for an aspiring business leader who will interface with marketing teams rather than lead them.

Master’s in Accounting

A Master of Accounting (MAcc) program prepares students for the Certified Public Accountant (CPA) exam and advanced accounting careers. The coursework includes the following:

• Advanced financial reporting
• Auditing standards
• Taxation and forensic accounting

Plus, you’ll meet the 150 credit-hour requirement to take the exam for CPA licensure.⁴

In contrast, an MBA program will typically include financial accounting and managerial accounting courses. An MAcc degree is better suited for those pursuing individual contributor roles, such as auditor or tax specialist, while those aiming for a career in management or strategic roles should consider an MBA.

Master’s in Finance

A Master of Science in Finance emphasizes the following topics:

• Quantitative analysis
• Investment strategies
• Risk management
• Financial modeling techniques

You’ll gain skills in areas like portfolio optimization and corporate finance. On the other hand, MBAs with a finance concentration tend to focus on the broader business context for financial decision-making. These degrees typically go less in-depth when it comes to quantitative methods.

Someone with a master’s in finance may be best suited for a role in investment banking, private equity or quantitative analysis, while MBA graduates may pursue financial leadership positions.

Explore Your Online Master’s Options at William & Mary

When you’re ready to choose the right business school and program for you, look at the wealth of options at William & Mary. To find your ideal opportunity, explore our top-ranked Online MBA program and innovative specialty master’s and certificate programs.

When you’re ready, contact an admissions outreach advisor to learn more about how you can make your MBA dream a reality at the Raymond A. Mason School of Business.