MSc or MBA, that´s the questions! At least for today´s Blog topic. There’s always been this confusion about what a recent business graduate should undergo with regards to their further postgraduate education, which is why we are going to talk about the pros, cons, similarities, differences between doing an MSc (Master of Science) in Management and the infamous MBA (Master’s of Business Administration). Here are some main points to consider:
The main impediment of being accepted for an MBA program is your work experience. You should know that the average age of graduates starting their MBA is around 27, whereas the average for doing an MSc is just 23! In other words, MBA’s are directly aimed at highly experienced professionals (normally at least 3 years of experience in the work field!); but in the case of an MSc, any recent Bachelor’s graduate can enroll, even if they don’t have work experience at all (sometimes 0-2 years of experience being required)!
Another difference between an MSc and an MBA consists of how the curricula are built, curricula that later impact on the students’ careers. For example, whilst an MSc is targeted at kickstarting the student’s career, what they MBA does is taking the student on step above further on the career ladder (as they get extremely in-depth business knowledge and not just some more surface knowledge like in the case of an MSc). While an MSc is about more theory, the MBA focuses on practicality, employing tools such as real-life case studies.
Show me the MONEY!
The hottest section of the blog I would say, eh? The difference in tuition fees is uncanny and it cannot be unseen. An MBA’s tuition can reach even the astronomical fee of $100,000 at an hugely prestigious university! MSc are generally more affordable than MBA’s, however it also is about the Return On Investment after all (ROI). Both are good investments, so it does depend on your current point in your career, but as an idea having an MBA can easily pay you a salary of $100,000 and an MSc of $50,000!
MBA’s have always been received with high praise by companies, Human Resources being aware of the value MBA holders can bring to the company, while MSc’s are currently rapidly growing around the world with regards to their popularity. And MBA can easily land you an Executive position in any company, but at the same time being an MSc graduate can be qualified for entry and mid-level position due to the lack of their depth.
Online Open Days
Confused? Undecided? Lost? Do you identify yourself with any of those adjectives when it comes to your current state of affairs while looking for your postgraduate program? Webinars4you is here to help you make the BEST decision, all you have to do is to register for any of the following online open days and get more information on what BEST suits you.
Now you might want to check out the following Online Open Day from GISMA in Berlin. A great opportunity for MBA students with its unique curriculum to upgrade and become a leader in your field.
Simply sign up here!