MBA or MS Degree?
Since the induction of highly publicized MBA programs in universities, it often becomes difficult to understand and differentiate between MBA (Master’s of Business Administration) and a MS (Master’s of Science) degree. Students are often confused and pursue a wrong career path. Therefore, let us evaluate the two degrees, in general.
An MBA degree is a specialization in business related subjects that provides an overview of how to manage a business. Simply put, subjects taught during MBA programs are closely linked and interrelated with all aspects of handling a business entity. We all know that in order to successfully oversee business operations, managers have to be knowledgeable about the economics of business dealings, financial aspects, accounting liabilities and operational tasks. MBA students learn every aspect of business management.
Notice though, a student will only skim the surface of each business subject with an MBA degree, not necessarily gaining an in-depth knowledge. Later, a specialization in any one subject ensures the development of further knowledge in that specialized field.
In short, the economy has moved from an industrial-based society to a knowledge-based society. That is exactly why there is a great demand for MBA graduates. They have the knowledge of different aspects of a business. In fact, a prestigious management position is synonymous with an MBA degree.
That doesn’t mean an MS degree is not a lucrative option. It is definitely different from an MBA degree. It is geared towards obtaining an in-depth knowledge of a subject while working in the field. That is why all the big brains and the scientists hold an MS degree, and not the MBA. A scientist, a doctor and a professor needs to research. An engineer will need to study the mechanics. All these people work in professions that demand a thorough research and a knowledge, which can only be attained with experimenting and working in the field. Now, this doesn’t mean that a person holding an MS degree must work outdoors or experiment in the lab. It all depends on the nature of the job itself, and what a graduate student’s major is. That, a student must decide based on his or her future goals.
Both the MBA and MS degrees offer opportunities to progress, but the progress itself depends on the right decision.