MBA vs. Master’s in Finance: Which Degree Is Right for You?

The Graduate Management Admission Council’s 2025 Corporate Recruiters Survey found that demand for MBA graduates remains strong, with 90% of surveyed recruiters expecting to hire MBAs in 2025.¹ The same survey also reflects continued demand for Master’s in Finance graduates.

The reasoning for the high demand for graduates from these programs is much the same: Recruiters and employers value the problem-solving and critical thinking skills that students develop as they work to earn these advanced degrees.

Both MBA and Master’s in Finance degrees are respected qualifications that attract quality employers, but the degrees are not the same. Deciding whether to study for an MBA vs a Master’s in Finance will shape the direction of your career. It is worth considering the differences between the two qualifications and determining which degree truly fits best with your ambitions, interests and preferences.

This blog post examines the differences between MBA and Master’s in Finance programs, as well as career paths and salary expectations.

Program Overview

When comparing MBA vs Master’s in Finance programs, it’s helpful to start by considering the basic structure and purpose of each type of program.

Reputable MBA programs, such as the Online MBA from the Raymond A. Mason School of Business, provide graduates with a broad grounding in management and business principles, with a focus on strategy and leadership. In contrast, the Mason School of Business’s Online Master of Science in Finance (MSF) program equips graduates with specialized financial expertise and the technical skills necessary to perform financial modeling, risk management and other advanced finance functions.

Curriculum Differences

Which is better for you, an MBA or a Master’s in Finance? The answer to that lies in the details of each program. One degree is not objectively better than the other; they are different qualifications that require a different focus and will therefore appeal to different students.

An MBA builds a more general business foundation, with a curriculum that covers core functions such as marketing, operations and leadership. Standard MBA coursework will also include fundamental principles of finance, decision-making, economics and organizational behavior.

An MSF curriculum, on the other hand, takes you on a deep dive into corporate finance. You’ll develop essential knowledge and key skills pertinent to corporate valuation, credit analysis, financial analysis, financial modeling and investment strategies. Electives may focus on finance in specific sectors, such as real estate or banking.

Cost and Duration

We’ve established that the key question at hand isn’t "Is an MBA better than a Master’s in Finance?" but rather “Which type of program will best suit you?”. The commitment of time and money is a significant detail when considering investing in a graduate qualification.

At the Mason School of Business, the Online MBA program currently requires 49 credit hours at a cost of $1,468 per credit hour, with additional fees where applicable. That’s a total tuition cost of $71,932.

The Online Master’s of Finance at the Mason School of Business requires 32–33 credit hours at a cost of $1,434 per credit hour, with additional fees where applicable. That adds up to a total tuition cost of $47,322.

Salary Expectations

Starting salaries vary widely for MBA graduates, who can find positions across a wide range of industries and functions. Recruitment specialist Indeed notes that the median annual salary for management jobs—taken as a proxy for MBAs—in the United States is currently $102,450.²

Master’s in Finance vs MBA salary expectations can differ somewhat, in part due to variance across roles and industries. A recent William & Mary survey found that Online MBA graduates from the Mason School of Business reported an average salary of $135,879 after graduation. ZipRecruiter estimates the average salary of graduates with a Master’s in Finance to be $92,631.³

Career Prospects

An MBA degree can unlock numerous career opportunities. In addition to being the qualification of choice for those in executive leadership or entrepreneurial roles, an MBA opens the door to positions in consulting, corporate strategy and just about every core business discipline, from marketing to HR.

Typical career paths for Master’s in Finance graduates tend to be more specialized. An MSF sets you up for a successful career in corporate finance or investment banking. You could also move into specialized functions, such as asset management, risk analysis or financial modeling.

Who Should Choose an MBA?

An MBA is an agile, broad-based qualification that is invaluable for anyone seeking a leadership role in business, from senior management to the C-suite. It’s also an ideal qualification for career-changers and aspiring entrepreneurs.

Who Should Choose a Master’s in Finance?

A Master’s in Finance is best suited to finance-focused specialists who need to acquire the technical knowledge and expertise essential to advance their careers to the next level. Aspiring CFOs and investment bankers can particularly benefit from an MSF program and the depth of its curriculum.

Advance Your Career in Business and Finance With William & Mary

Ultimately, the question of whether to pursue an MBA vs a Master’s in Finance comes down to your personal circumstances, interests and aspirations. An MBA often takes a little longer and costs more to complete than a Master’s in Finance, but the trade-off is that MBA starting salaries can be somewhat higher on average, and the degree can give you access to a wider variety of jobs than a typical MSF.

At the Mason School of Business, both the Online MBA and Online MSF programs offer working professionals the flexibility they need to continue with their careers and personal lives while securing an advanced qualification. Such flexibility helps simplify the decision somewhat. Choose between a Master’s in Finance vs an MBA based on your goals, not restrictions on your time.

If you’re still torn between the two degrees, it’s valuable to note that the Mason School of Business now offers Online MBA specializations. You can choose from specializations in Finance, including Corporate Finance, Investment Management and Real Estate. The credits earned in the MBA program can be applied to the Master’s in Finance program, should you choose to go on for a second degree. To learn more, review our stackable pathways.

Whether you’re looking for a broad-based business qualification, such as an MBA, or a specialized advanced degree, such as a Master’s in Finance, review the W&M Mason School of Business admissions requirements to see how you can advance your career at a “Public Ivy.” If you are ready to learn more, schedule a call with one of our admissions outreach advisors.