Posted by : Shreyasee Sarkar
Author Designation : Junior Counselor (Kolkata)
Difference between MS and MBA for International students
Choosing the right graduate program can feel like a major decision. Any time you pursue a new time and financial commitment, it’s reasonable to want to understand how your options align with your goals. MS vs. MBA, two of the most sought after degrees among students after completing their undergraduate studies and a topic of discussion as you stand at the verge of entering your professional life and planning a career. The difference between master and MBA is for whom the program is curated and what the program focuses on. Both MS and MBA are master’s degrees but focus on different domains while MBA completely focuses on management and leadership skills, MS is wider in scope in terms of specializations offered and lifelong learning opportunities by engaging in research. The biggest difference between an MBA program and a business master’s program is who the program is designed for. Typically, an MBA candidate will enter their program with a few years of work experience, while an MS student will enter their program with little or no experience working in business.
Master of Business Administration (MBA)
MBA stands for Master of Business Administration. As the name suggests, it teaches a person the nuances of running a business from both macro and micro perspectives. An MBA program typically lasts from 10 months to 24 months – a 10-month to 15-month MBA is usually referred to as accelerated program while a 24 months program is referred to as a full-time degree course. Some broad specializations in an MBA course include Finance, Marketing, Human Resources, Operations, etc. There is also an executive MBA program which requires prior work experience and is shorter in duration.
Institutions that are not affiliated with universities also offer programs that are equivalent to an MBA in nature. These which are usually referred to as diplomas/programs in management.
The structure of an MBA program is designed in a way that it directly enhances your strategic thinking, communication, time management, networking and creativity besides building you an impressive resume.
- Eligibility criteria
An MBA degree is of many types. Some popular choices are full time i.e. two-year MBA programs, post-graduate diploma in management, flexible MBA, part-time MBA, executive MBA (EMBA), etc. You can choose to pursue the kind that best suits your purpose and eligibility.
Every institution has its own minimum eligibility criteria, so it’s best to visit their website and find out whether you fulfill the criteria or not. Most commonly, you’ll need documents like your past merit certificates, resume, LOR (Letter of Recommendation) and experience certificates. Some institutions may also ask for a certain GRE/GMAT scores to shortlist you for an interview. For an EMBA, you’d need to show a work experience of 2-4 years.
- MBA salary and job prospects
With this widespread education, earning an MBA degree can equip you for senior and executive-level positions across many areas of business and can prime you for leadership positions that oversee multiple departments.
Many students pursue an MBA degree after a few years in the workforce in order to advance their careers. There are full-time and part-time programs, which allow for MBA candidates to continue working while attending school. Depending on the type of program, an MBA will typically take between one and five years to complete.
Some companies that hire the most MBAs include management consulting firms like McKinsey, Bain, BCG, and AT Kearney; tech companies like Amazon, Google, and Microsoft; and accounting firms like EY and Deloitte. For the class of 2021, the median base starting salary (excluding signing bonuses and benefits) of an MBA recipient in the US was projected to be $115,000, though that number can vary quite a bit depending on the business school attended.
Master of Science (MS)
MS stands for Master of Science and is also referred to as MSc in many countries. It is a degree course that majorly pertains to subjects in the fields of science, technology, engineering and mathematics (popularly known as STEM).The curriculum of MS degrees is a combination of both physical and practical application of learning’s and thus, usually requires completion of a project, thesis, or research paper, to obtain a degree. The typical duration of this course for a full-time program is 1-2 years (also depends on the time spent on research projects.)
In many universities, MS may also be available for subjects like business functions including communications, finance, human resource, and marketing.
- Eligibility Criteria
To pursue MS, you’d need a bachelor’s degree, though not particularly in a specific stream (in-total 16 years of education), your test scores, English language certification (such as IELTS - 6.5 or above), GRE/GMAT scores, SOP (Statement of Purpose), LOR (Letter of Recommendation), etc. However, there may be certain institutions that’d have specific requirements, so it is best to check with your preferred institution’s website to know the exact requirements before making your application. For a smoother process, you can also get in touch with international education experts at IDP who can help you out with the entire process.
- MS salary and job prospects
This path prepares students for specialized careers within their chosen field. It can serve as a starting point for a career shift or to level-up in a particular sector. Prospective MS students do not necessarily have prior work experience in business, and many programs are designed for students with less than two years of work experience.
MS starting salaries vary across disciplines. For the class of 2021, the projected median base starting salary (excluding signing bonuses and benefits) of an MS recipient in the US in the fields analyzed ranged from $55,000 (Accounting and Management) to $75,000 (Data Analytics).
Which Course to Choose: MS vs. MBA?
The question of which course to choose between MS and MBA mainly arises among students from science backgrounds who can go for both MBA and MS after engineering. You are the best judge of MS vs. MBA which is better. We can help you with suggestions to compare the two and decide which is suitable for you. To summarize here are the points that you must consider to understand the difference between master and MBA:
- If you wish to gather business knowledge, management skills, be a part of the professional network, boost your salary or plan to run a business someday, definitely an MBA degree is what you need.
- If you are someone who wants to become an expert in a particular field then an MS degree will be well-suited for you.
- An MBA degree will be your ladder to top management positions and grand paychecks while an MS is no less with lifelong learning and significant increase in salary with industry experience.
- The return on investment for both MBA and MS is considerably good and you will recover your investment within the initial 2-4 years itself. In comparison to MS, MBA graduates have higher starting salaries.
Even combining an engineering degree with an MBA is an option worth considering keeping in mind the current demand of skilled professionals in the job market who can wear many hats.
Conclusions
Despite all the similarities and dissimilarities, both MBA and MS offer great career choices. Whether you decide to go for an MBA or MS after engineering, prepare well for exams required to study abroad and aim for the leading universities. Make sure you choose a degree that aligns with your career goals so that you give it your best. Every person is different in what they do and how they do it, so don’t be afraid to make a choice that you think will lead you to your goals.
FAQ’s
- Which is harder MBA vs. masters?
There is no comparison between the difficulties of MBA vs. masters as both degrees are suitable for students based on their aptitude. If you have some professional work experience, an MBA degree will be quite easy for you to understand compared to a master’s degree.
- What pays more MS vs. MBA salary?
Generally, in the entry level as fresher’s you will earn more with an MBA degree than MS.
- Which is the toughest field in MBA?
Different fields within an MBA present unique challenges, and identifying th
e toughest field is subjective. However, certain fields often demand exceptional skills and rigorous effort. Specializations like finance, strategy, and entrepreneurship can be considered among the more demanding areas. These fields require strong analytical abilities, critical thinking, and the ability to navigate complex business landscapes.
- Is it better to do an MBA or MS after engineering?
Combining an engineering degree with management will give you the advantage of dual specialization and career advancement opportunities. You will become a valuable asset for the company with both technical and managerial skills. At the same time, if you wish to specialize in a specific field such as civil engineering, mechanical engineering, electrical engineering, etc. applying for a MS degree is preferable.
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