MBA vs MS : Choosing the suitable career path
Selecting on a career path can be a really comprehensive and difficult decision, not only it determines the course of the rest of your career but also influences your life directly. So while making this kind of super important decision, you must not think emotionally but rather stick with the facts and choose whatever aligns with your expected trajectory for life. Choosing the right graduation program is a big commitment and a lot of practical and intellectual factors influence that. By this blog Superb Study Abroad intends to take a little burden off your shoulders. Stay tuned till the end to find out whether post graduation in MBA or MS degree is suitable for you?
A Masters in Science (M.S.) versus a Masters in Business Administration (M.B.A) is at the centre of this discussion. Both of these degrees offer specialised instruction that can equip individuals for excellence in future.
To help you make better life changing decisions, like selecting between an MBA or an MS, the following topics are covered briefly-
- Course highlights of Masters in Business Administration (MBA)
- Career Development Pathways and MBA Salary
- Advantages of Studying an MBA program
- Course highlights of Masters of Science (MS)
- Career Development Pathways and MS Salary
- Advantages of Studying an MS program
- Prominent differences between an MBA and an MS degree
Course Highlights of Masters in Business Administration (MBA)
- Post-graduation degree
- Professional program focusing on developing skills for Business management
- Incorporates basic level to advanced principles for successful management of businesses
- Core curriculum includes building of a strong managerial foundation
- Most of the top business schools requires attendees to have a prior work experience
- Many different types of MBA are available- 1 Year MBA, 2 Year MBA, Executive MBA, Part Time MBA
- Include electives to help students align with their professional goals
- Highly potential MBA Specializations include- Business Analytics, Healthcare Management, Finance, Artificial Intelligence, Technology
- The duration may vary from mode of learning i.e. part time or full time, business school and program selected
Career Development Pathways and MBA Salary
AGaining an MBA can prepare you for highly paid and leadership roles across several domains of industry and can prepare you for management roles that involve multiple divisions because of the extensive curriculum.
Usually, A lot of people go back to school after gaining some work experience, to get their MBAs in order to further advance their careers. There are both full-time and part-time MBA programmes available, allowing students to hold down a job and complete their education. An MBA will normally take anywhere from 1-5 academic years to complete, depending on the sort of programme.
Top companies that hire students with MBA include-
- JP Morgan
Average Salary per annum earned by MBA graduates worldwide-
- United Kingdom- 147,000 USD
- The United States- 160,000 USD
- India- Rs.10,00,000
Top advantages of Studying an MBA program-
- Develop awareness of a Global Enterprises
- Chance to build a professional network
- Get your hands on better interpersonal skills
- Learn to manage time effectively
- Various companies and managerial positions to choose from
Course Highlights of Masters in Science (MS)
- Post- Graduate program
- Focuses on one particular area related usually with the STEM i.e Science, Technology, Engineering and Mathematics
- Aims at Offering in depth information and developing critical understanding of any one area of business
- Can be pursued in areas allied with business management like Finance, marketing, Accounting, Data Analytics etc.
- The significant proportion of the material in the master's programmes will target your field of interest, although they might also provide critical information throughout all industrial sectors.
- Students can choose to complete their degree in either part time or full time mode which affects the duration of the program
- Top specialisations in Masters degree- Computer Science, Chemical Engineering, Electrical Engineering, Biology, Psychology, Nursing
Career Development Pathways and MS Salary
Students who choose this path are prepared for specialised careers within their field of interest. It can be used as a launch for a shift in career trajectory or to advance in a new venture. There is no requirement for prospective MS students to have prior business-related work experience.
An MS degree opens the door to a wide plethora of career options and assists you to breakthrough into the field of research and also into specialised areas in any of your targeted space. An MS Graduate could choose to become a professor, an IT expert, a software developer , a medical nurse practitioner, or anything else.
Top companies that hire Students with MS include-
- CVS Healthcare
- Reliance Industries
- TATA Consultancy Services
Average salary per annum earned by various MS Graduates-
- Registered Nurse Practitioner- 170,000 USD
- Engineer- 95,000 USD
- Pharmacist- 120,000 USD
- Researcher- 155,000 USD
- Assistant Professor- 142,000 USD
Top advantages of studying an MS program-
- Gain in depth knowledge of your desired field and use theoretical knowledge in various real life case scenarios
- Gather Valuable experience from internship opportunities
- Possibilities for immense employment horizons and Good paychecks
- Advantages of future development through expert alumni and like minded peer group
- Focus on improved character development through teamwork, coordinated projects and competitive learning environment
Noteworthy differences between MBA vs MS Degrees-
|Masters in Business Administration (MBA)
|Masters of Science (MS)
|More than 90% of schools require prior work experience of 2 or more years.
|Work Experience is not a major requirement however very few schools with specialised programs may enlist it as a requirement.
|Focusing on all aspects of Business management and entrepreneurship
|The major focus includes in depth knowledge of one particular field
|Generally course duration varies from 1-5 years
|Can be successfully completed in 1-2 years
|Median Starting Salary is 100,000 USD
|Median Starting Salary may range from 50,000 USD to 75,000 USD
|High growth potential in sectors of Finance, Banking, Accounting, Investment
|High growth potential in sectors like Engineering, Healthcare, Teaching, Research, Science
Superb Study Abroad wishes you all the very best and we hope that you are able to make a good decision for your future that resonates with your prospective career goals. At Superb Study Abroad, we are a leading provider of career counselling services. Our services help you to select the correct program, choose from top universities abroad, apply for educational visas, fee structures and many more. Reach out to us and see for yourself how we make your process hassle free.