MBA or MSc. – Confused?
If you are planning to get a postgraduate degree in management from the United Kingdom (UK) or the United States (US), the first program that pops up in the mind is – MBA. You might or might not be aware that a Master of Science or MSc. would be available in management or business. Students who already knew about it often ask – which is better? Which is more beneficial and advantageous? Which degree promises a fatter paycheck?
Even though both are postgraduate degree programs, there are so many differences between the two in terms of eligibility, focus, and personal development. In this post, we will discuss these degrees so that you will be in a better position to decide which one you should choose. Let us get started!
Key Differences between MBA and MSc.
An MBA degree is considered as an all-encompassing program. When students are in the last semester, they get to learn the ways to deal with one particular aspect of the business but throughout the program, they will get to know several business fundamentals. An MBA degree is known for its wide-reaching nature that goes into the details of how businesses function.
The MSc. degree, on the other hand, is offered only in a specific discipline. This means that the program will only deal with one main area or subject or specialization of the business. Since MSc. is extremely specific, it is a perfect option for those who want to pursue a career in a specialized field i.e. finance.
MBA vs. MSc. – Which is better?
Which degree is better? Which one you should choose? The choice should completely be based on what field you want to enter after completing the course. If you are planning to enter into any business, then an MBA degree is the best fit option for you. An MSc. is not going to help you if you also want to branch out on your own or start your enterprise. It is a great career choice if you want to stick to one particular field and gain expertise in the same.
Related: Business Administration vs. Business Management
Subjects/Courses of MBA
The MBA program is a business course that is designed for students with some relevant work experience. An MBA degree helps develop essential skills like leadership skills. Most of the time, only a few prerequisites for this program but students must have some work experience and have passed the relevant MBA entrance exam like GMAT or GRE.
An MBA program can be studied in different formats such as full-time/regular, part-time/distance or online. This degree program provides students with a crucial networking opportunity and connection within new industries. You can enroll for an MBA program in a foreign university/college if you want to keep up with the increasing demands of modern business scenarios as they are more focused on global business and management challenges.
Subjects/Courses of MSc.
MSc. programs are postgraduate studies for those who are freshly out of undergraduate courses and willing to enhance their knowledge and understanding on a scientific level. To pursue an MSc. degree in a specific field, you will need an undergraduate degree in the same subject or field as the MSc. will help you advanced the level in that particular area. The subjects in MSc. degrees are less vocational.
For instance, the course structure of MSc. in management will focus on the ‘Theory of Management’, and emphasize on developing technical and analytical skills. The duration of these courses is over one year. When it comes to career options, an MSc. degree holder can become a scientist, researcher, consultant, or teacher.
It is clear that aside from a few differences in prerequisites, not much difference is there between an MSc. and an MBA degree. MSc. courses are generally of shorter duration and more affordable. While the MBA has a longer duration and a little expensive. Even though some differences are there, not much of a direct effect on employment opportunities as both the degrees will help you land in high-paying jobs.
To know more about the foreign universities/colleges that offer this program along with the fee structure details, admission process, post-study work permit, study visa, scholarships to support the education, etc., you can get in touch with the team of dedicated professionals at AEC.