MBA vs. Master’s: What Are the Differences?

After earning an undergraduate degree in a business management field, graduates may choose to enter the job marketplace or perhaps start their own companies. However, at some point, you may decide that to potentially further your career, you need to acquire additional qualifications and knowledge. Going back to school to earn a graduate degree can be a great way to explore new skills and expand your professional network.

Professionals in business management fields can choose between a Master of Business Administration (MBA) degree and a Master of Science (MS) degree. An MBA vs. master’s degree overlaps in many ways, but there are crucial differences that you should be aware of before you make your decision. Some schools offer both types of degrees in various business management specializations. Here’s a closer look at both options.

In This Article:

• What Is an MBA and Master’s Degree?
• An Overview of MBA Programs
• An Overview of Master’s Programs
• MBA vs. Master’s: Exploring Non-Business Master’s Degrees
• Cost and Financing of an MBA vs. Master's in Business Degrees
• Earn Your MBA or Master’s Degree From GCU

What Is an MBA and Master’s Degree?

Before considering the differences between an MBA and master’s degree, it’s helpful to know the basic definitions of each. The MBA degree offers a broad survey of business competencies. It’s important to understand that the MBA is indeed a type of master’s degree. Other types of master’s degrees, such as the Master of Science, aren’t MBAs, but they are graduate-level degree programs.

An Overview of MBA Programs

The Master of Business Administration degree is a highly recognizable degree that teaches a solid framework of business and leadership competencies. 

It is customary for an MBA program to focus on key areas such as the following: 

• Leadership styles and skills
• Effective communication
• Ethical decision-making
• Critical thinking and analytical reasoning

Students can expect an MBA program to deliver a curriculum that is broad in scope, making this degree a good choice for individuals in a wide range of industries and organizations. However, some schools do offer specialization options for MBA students.

Some specializations include:

• Sports business: An MBA with an Emphasis in Sports Business is an option to consider for those who are interested in working in the sports industry. It combines business and sports knowledge to help graduates pursue career paths in this industry.
• Project management: An MBA with an Emphasis in Project Management teaches students a deeper understanding of management and leadership and may help prepare them to apply that knowledge to managerial roles, such as general manager or director of operations.
• Finance: A Master of Business Administration with an Emphasis in Finance offers a curriculum that emphasizes financial principles and strategies.
• Health systems management: For individuals with a passion for the healthcare field as well as business, an MBA with an Emphasis in Health Systems Management can provide an opportunity to learn competencies in healthcare policies and finances, as well as leadership skills.
• Marketing: Businesses rely on marketing experts when seeking to connect a product or service with an audience. An MBA with an Emphasis in Marketing can be an ideal choice for aspiring marketing executives. 
• Strategic human resource management: Students with an interest in HR may choose to pursue an MBA with an Emphasis in Strategic Human Resource Management. This specialization revolves around management skills needed for hiring and retaining employees.

The Focus and Academic Experience of MBA Students

In a Master of Business Administration degree, students will typically take courses across multiple topic areas. These include accounting, finance, marketing and operations management. Students who choose an MBA degree with a specialization will also take courses pertaining to that specialization. For example, students earning an MBA with an Emphasis in Sports Business will examine broad topics like managerial finance, applied business statistics and economics, as well as specialized topics like sports business analytics and sports business revenue generation.

MBA students can expect to work through a curriculum that emphasizes online learning experiences for greater flexibility and convenience, which may allow MBA students to balance school, work and personal life.

Some MBA students may choose to focus on building professional networks through on-campus events along with online or on-campus evening courses. MBA students can make the most of their time in school by making new acquaintances — perhaps connecting with a mentor and building connections at companies they may one day work for or with.

An Overview of Master’s Programs

A master’s degree is an excellent option for students who know exactly which area of business most interests them, whether it’s accounting, business analytics or leadership.

The Focus and Academic Experience of Master’s Students

An online MS degree program is typically more focused on theory than an MBA degree program. However, students may still undertake hands-on learning experiences in an online environment. For example, students earning a Master of Science in Leadership (MSL) will complete a capstone project, which involves developing and executing a community- or organization-based project that showcases their leadership skills.

Typically, all of the courses in an MS degree are acutely focused on that particular area. For example, students earning an MSL will focus on the following topics:

• Servant leadership
• Leadership styles
• Coaching, mentoring and leadership development
• Leadership and innovation

Some of the specializations for this degree include:

• Cybersecurity: A master’s degree in cybersecurity provides opportunities for those who have already earned their bachelor’s degree in cybersecurity to take their skills to the next level.
• Leadership: For those who want to become business leaders, an MS in Leadership is worth considering. This program helps aspiring leaders reflect upon what is required in leadership roles and how to be a servant leader.
• Accounting: Accounting is of great importance in business. A master’s degree in accounting is designed to equip graduates with a mastery of accounting concepts that can help them in their field.
• Business analytics: A Master of Science in Business Analytics degree or MSBA is a graduate degree that teaches students to effectively analyze data and predict patterns. 

MBA vs. Master’s: Exploring Non-Business Master’s Degrees

When choosing between an MBA or master’s, it’s helpful to know what all your options are. Before exploring Master of Science degrees, let’s take a look at other master’s degrees that may fit your career goals. For example, if your career path is leading you toward administrative opportunities in education, you might consider earning a Master of Arts in Higher Education Student Affairs or a Master of Education in Educational Administration.

Otherwise, you can look for a Master of Science degree that focuses on your specific specialization, such as the following:

• Master of Science in Health Informatics
• Master of Science in Information Technology
• Master of Science in Health Administration
• Master of Science in Leadership with an Emphasis in Homeland Security and Emergency Management

Alternatively, you might consider a Master of Science in Leadership degree without a concentration area.

Cost and Financing of an MBA vs. Master's in Business Degrees

When comparing an MBA vs. master’s in business, such as a Master of Science degree, you may wish to consider how much each program would cost you. The costs, of course, will depend largely on the school and specific program you choose.

The Best of Both Worlds: A Dual Degree

What happens if you simply can’t choose between an MBA or master’s degree? For professionals who want the best of both worlds, some schools offer a dual degree. Students who earn a Master of Business Administration and Master of Science in Leadership (MBA/MSL) degree are taught to effect positive change in their chosen industries. Earning an MBA/MSL degree may set you apart from other job candidates and help you chase after your career goals.

Earn Your MBA or Master’s Degree From GCU

Whether you decide on an MBA program or an MS degree — or both — you can find what you’re looking for at Grand Canyon University. Our private Christian university is pleased to offer a diverse selection of online MBA programs and MS degrees, including the Master of Science in Leadership (MSL), Master of Science in Health Care Administration (MHA) and Master of Business Administration degrees, with specializations available in accounting, cybersecurity, finance, leadership and many more.