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MBA vs. Master's: What's the Difference?

By DeVry University

The information presented here is true and accurate as of the date of publication. DeVry’s programmatic offerings and their accreditations are subject to change. Please refer to the current academic catalog for details.

 

If you’re considering advancing your education, your current career or thinking about pursuing a new one altogether, you may be considering earning a master’s degree. MBA vs. masters: which is right for you and your career goals? At this point, if you find yourself with more questions than answers, we can help you sort things out. In this article, we’ll take a close look at the master’s degree and the MBA, explore their main differences and help you decide which is right for you.

What is an MBA Degree?

An MBA, or Master of Business Administration, is a post-graduate degree that provides theoretical and practical training in business management. It’s intended to help business students and individuals who are already established in their careers further their business education while developing advanced management and leadership skills needed in the modern workplace.

Depending on the institution, MBA programs may be earned full-time, part-time, online or on campus.1 Some programs are tailored for busy working adults, while others are more suited to full-time students coming directly from bachelor’s degree programs. A typical MBA program takes around 2 years to complete. 

What is a Master’s Degree?

Like the MBA, a master’s degree is a postsecondary academic degree. Master’s degree programs typically provide deep insight into a specific areas of study and may help you become familiar with the technology being used in that field. 

MBA vs. Master’s: Main Differences

Several characteristics differentiate MBA vs. master’s degrees, including the curriculum, their focuses, the potential career paths each of them may help prepare you for, cost, program length or admission requirements to name a few. 
 

Curriculum and focus

A Master of Business Administration (MBA) degree program covers a range of business topics that those looking to pursue management roles will need, as well as people management, leadership and collaboration skills. Often, MBA programs can be coupled with specializations in a variety of disciplines to include material specific to a certain field or area of business, but we’ll cover that in greater detail a little later on.

As we mentioned, a master’s degree typically focuses on a specific area. They typically do not include coursework that centers on management skills, unless the master’s degree’s focus specifically outlines that. 
 

Career paths

When choosing between an MBA and a master’s degree, consider your desired career path. If your ideal path is leading you to a function-specific role, then it may make sense to pursue a master’s degree in that discipline. If you’d prefer to gain a broader wealth of business knowledge alongside leadership and managerial skills, an MBA may be the better option for you.
 

Cost and program length

The cost of a graduate-level program will depend on the particular institution you’re enrolled at. The total cost to earn a master’s degree or an MBA here at DeVry depends on several factors, including any qualifying transfer credits you may have as well as scholarships or grants you may qualify for. To learn more about our cost per credit hour, visit our Tuition page. Our Admissions Team can help you develop a customized tuition plan based on your individual circumstances and needs.

How long does it take to complete a master’s vs. MBA? Again, lengths will vary depending on the school you select, their program’s structure, transfer credits you may be bringing with you or if you choose to study on a full or part-time basis. Speaking in broad terms however, it typically takes a little more than 2 years to complete either program.

At DeVry, our MBA can be earned in as few as 12 months on an accelerated schedule, or 2 years and 2 months on a normal one.2

2 Normal time assumes completion of 7 semesters, enrollment in an average of 6 credit hours per semester and continuous, year-round enrollment with no breaks. Accelerated time to complete requires at least 9 credit hours of Prior Learning Credit. Assumes completion of 3 semesters, enrollment in an average of 10 credit hours per semester and continuous, full-time year-round enrollment with no breaks per 12-month period. Does not apply to MBA with Specialization. Time to complete and details vary by specialization. See the Keller Academic Catalog for complete program details.
 

Admission requirements

Admissions requirements will vary from one educational institution to another, as will acceptance rates.

Keller graduate admissions requires applicants to hold a bachelor’s degree from a University-recognized postsecondary institution (international applicants must hold a degree recognized as equivalent to a U.S. baccalaureate degree) and demonstrate English-Language, math and verbal skill proficiency. All applicants must also complete an interview with someone from our admissions team.

Specialized MBA vs. Master’s Degree

While we’ve covered how these two degrees compare and contrast in general terms, there are instances where an MBA can be earned with an additional focus in a specific field. Here at DeVry and our Keller Graduate School of Management for instance, students have the option of enrolling in a general MBA program or choosing from 10 different MBA specializations to help them better align their education with the career aspirations.

When deciding whether to pursue an MBA vs. master’s degree in a specific discipline, you might be wondering how the two stack up to each other.

Let’s look at 2 examples from DeVry:
 

Master’s in Accounting vs. MBA with a Specialization in Accounting

Here at DeVry and Keller, our Master’s Degree in Accounting and Financial Management and our Master of Science in Accounting are designed to help you prepare to pursue careers in corporate finance as well as financial or managerial accounting. Student can select from 3 different emphases:

  • Certified Public Accountant (CPA) Exam Preparation Emphasis3

  • Certified Management Accountant (CMA) Exam Preparation Emphasis

  • General Accounting Emphasis

Students of our Master’s Degree in Accounting and Financial Management program have an additional Finance Emphasis option available to them.

A strong example of the career-specificity of both of these accounting programs is demonstrated by the CPA and CMA emphases. Coursework in the CPA Exam Preparation emphasis is intended to develop essential financial accounting skills and integrates Becker Professional Education’s CPA Exam Review, enabling you to prepare to pursue the CPA Exam while earning your master’s degree.3  

For students interested in preparing to pursue CMA certification and corporate accounting roles may choose the CMA Exam Preparation emphasis, developing their skills in budgeting, financial analysis, and more.

In our MBA with a Specialization in Accounting, additional courses in managerial accounting, statistics, business economics and international and corporate finance will help you develop the field-related skills demanded by the modern workplace, alongside core MBA courses in strategic business, leadership and technology, human resource management, negotiation, communication and other business management essentials.
 

Master’s in Human Resource Management vs. MBA with a Specialization in Human Resources

Another example illustrating the key differences between a master’s degree and an MBA with a similar concentration can be found in the area of human resource management.

Our Master’s in Human Resource Management degree takes a deep dive into the theories and practices of modern HR management, and fully aligning with the current HR Curriculum Guidebook and Templates of the Society for Human Resource Management (SHRM). This alignment means the program curriculum has the most up-to-date content related to HR management in dynamic areas like compensation and benefits, employee and labor relations, employment law and more.

Our MBA with a Specialization in Human Resources features HR-related coursework in human resources leadership, strategic HR management and performance measurement, along with our core MBA curriculum centered around business essentials like communication, digital leadership, managing organizational change, international human resources and the legal, ethical and political dimensions of business. 

Which is Right for You?

The most straightforward answer to the masters vs. MBA question can be found by examining your career goals. If you’ve already completed a bachelor’s degree and you have some on the job work experience under your belt, you probably have a good idea where you want to go next.

If you have your sights set on a very specific role, then a master’s degree may be your best option. If you want to be more of a generalist or position yourself as a candidate for a wider variety of roles, then an MBA degree may be the best choice.

If you’re not sure, keep your eye on job postings to see what degrees the employers or roles you’re interested in are specifying. Seeing the specifics in this context might help you make a better-informed decision. 

Ready to Pursue Your Graduate Degree?

If you’re ready to take the next step toward your goals, DeVry and Keller can help. With a range of online master’s  and MBA degree programs designed for busy working professionals like you,  you have the flexibility to learn where and how you need to, with no GRE or GMAT required.

Did you know? Scholarships and grants aren’t just for undergraduates, and can help make your Keller graduate degree more affordable. Speak to DeVry Admissions Representative for more details.

Our Master's Degrees are accredited4 by the Accreditation Council for Business Schools and Programs (ACBSP) www.acbsp.org.
 

1 Program, course, and extended classroom availability vary by location. In site-based programs, students will be required to take a substantial amount of coursework online to complete their program.

2 Normal time assumes completion of 7 semesters, enrollment in an average of 6 credit hours per semester and continuous, year-round enrollment with no breaks. Accelerated time to complete requires at least 9 credit hours of Prior Learning Credit. Assumes completion of 3 semesters, enrollment in an average of 10 credit hours per semester and continuous, full-time year-round enrollment with no breaks per 12-month period. Does not apply to MBA with Specialization. Time to complete and details vary by specialization. See the Keller Academic Catalog for complete program details.

3 Credits and degrees earned from this institution do not automatically qualify the holder to participate in professional licensing exams to practice certain professions. Persons interested in practicing a regulated profession must contact the appropriate state regulatory agency for their field of interest. Coursework may qualify for credit towards the State Board of Accountancy requirements. However, it is the student’s responsibility to contact the state board of accountancy for the jurisdiction in which they are applying to determine whether they have completed the appropriate credit hours and coursework to qualify to take the CPA exam. Employees of DeVry University and its Keller Graduate School of Management are not in a position to determine an individual’s eligibility to take the CPA exam or satisfy licensing.

4 Conferral and Assessment Data - Available for all of DeVry and Keller's ACBSP accredited programs. For a full list of DeVry University's business and accounting degree programs accredited by ACBSP, please see the Accreditation page.

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