Master’s Degree vs. MBA: Choosing the Best Fit for Your Career
28 March, 2025
In order to advance to senior-level, management, or leadership roles, many professionals find themselves needing advanced knowledge and skills. While on-the-job experience can provide you with knowledge about how your specific organization operates, a master’s degree is a key way to gain big-picture knowledge for lasting career advancement.
A Master of Business Administration (MBA) is one master’s degree that is highly relevant to aspiring managers and leaders in a variety of industries. For individuals working in highly specialized organizations, roles, and industries, a master’s degree in a business-adjacent field may be another option.
The right choice for each individual can depend on a variety of factors, including industry and career trajectory. Ultimately, the MBA degree offers a wide variety of broadly applicable business knowledge — as well as expansive long-term career opportunities — while a specialized master’s degree may not be as flexible. In this article, we will discuss the key differences between these two types of degrees, including their focuses, structures, costs, and outcomes.
What Is an MBA?
94% of business school alumni rate their graduate business education as good, excellent, or outstanding. And, a high percentage of alums are likely to recommend graduate management education to friends and family.
MBA programs are highly prized by employers and individuals alike for their ability to provide students with expert knowledge in the realm of business, administration, and management. The curriculums of MBA programs will typically cover critical cross-functional topics in the domain of business administration, such as:
- Accounting, finance, and economics
- Leadership and management
- Business ethics
- Marketing
- Global business strategies
One of the key benefits of MBA programs is their interdisciplinary approach to business education and dedication to producing high-quality leaders. By the time they graduate, MBA students can be confident that they’ll have a strong toolkit of leadership skills and broad business knowledge. As such, MBA programs are fantastic for professionals who are seeking high-level leadership and management positions, consulting roles, or entrepreneurship opportunities, but are not married to the idea of working in one specific industry.
At the University of Northwestern Ohio, online Master of Business Administration students will gain knowledge and training in critical business domains — including finance, organizational behavior, quantitative analysis, and more — in a flexible online setting.
“I chose to pursue an MBA because of the potential it can open up in multiple different career fields. After working in accounting for 10 years, I found the idea of being open to a career pivot to be more appealing than getting a Master of Accountancy, which would further specialize me in just one field.”
— Wesley Collins, UNOH Online MBA Student
What Is a Specialized Master’s Degree?
While MBA programs are a time-tested business degree with decades of proven ROI, there are a number of specialized master’s degrees that may be a better fit for some individuals. These programs help students gain function-specific skills in one industry area, and may include some general business skills. Some examples include master’s degrees in finance, marketing, management, or accounting.
Given the narrow focus of these degrees, they are best for professionals who have highly specific, industry-focused career goals.
MBA vs. Master’s Degrees: Key Differences
Beyond just the focus of the degree, there are many factors to consider if you are still deciding between an MBA and a master’s degree. These can include the length of the program, average costs, your experience, and your ideal career outcomes.
Program Duration
The average duration of a specialized master’s degree will vary greatly by program type and university. Since these programs focus on a targeted industry area, the curriculum is typically shorter and takes less time to complete. On average, a specialized master’s degree might take one or two years to complete.
The average MBA takes about three years to complete part time, or two years to complete full time. The reason for this is that MBA programs have expansive curriculums designed to impart lasting skills, which takes more time to go through. At UNOH, however, the online MBA is a part-time program that can be completed in as little as 18 months, allowing you to enter the MBA job market much faster than average.
Average Costs
As with duration, program costs vary by institution and degree types. Generally speaking, specialized master’s degrees will be lower-cost due to the smaller credit hour requirements.
It is well-known that MBA programs can be expensive. However, this is not always the case. UNOH’s online MBA has a total cost of less than $25,000, while other university’s MBAs can climb well over $100,000 in total costs.
Most MBA graduates will earn back the cost of their education in less than four years.
Work and Education Experience
Specialized master’s degrees don’t typically have formal education or work experience requirements, but this will vary depending on how specialized the program is. And, students who do have formal education and/or work experience in their area will likely have an advantage in the admissions process.
An undergraduate business degree is hardly ever required to get accepted into an MBA program, as MBAs are a great fit for individuals in non-business fields who are looking to advance into high-level leadership positions. However, some MBA programs do require a few years of work experience. This is not a hard and fast rule however, as many contemporary MBA programs are not requiring work experience in order to make their degrees more accessible to early-career professionals seeking management training. UNOH does not require MBA students to have any work experience.
Career Outcomes
The key difference between MBA careers and specialized master’s careers largely lies in the level of leadership responsibilities and the level of specialization of the role. MBA graduates are suited to high-level leadership positions, but maybe not industry-specialized roles. On the other hand, specialized master’s graduates will find success in specialized roles, but don’t necessarily have the skills for high-level management immediately after graduating.
Jobs with an MBA
- Executive management and high-level leadership: Many MBA candidates aspire toward executive management or leadership roles, seeking to become department directors, VPs, or even C-level leaders. It’s important to note that these roles require a significant level of experience in addition to advanced training, like an MBA.
- Entrepreneurship: Given that MBAs offer a broad focus on many critical business considerations, some individuals pursue an MBA with the intent to start a business after they graduate.
- Consultant roles: An MBA is often required for consultant positions. One of the great benefits of an MBA is its interdisciplinary approach to solving business issues, meaning that consultants with an MBA are uniquely positioned to help organizations improve their operational efficiency and cross-functional strategies.
Jobs with a Specialized Master’s
- High-level specialist roles: Graduates of a specialized master’s degree program typically pursue industry-specifical specialist roles relevant to their education. Some examples might include:
- Master’s in finance graduates are well-positioned for roles like financial analyst or investment analyst.
- Master’s in marketing graduates can pursue marketing manager or market research analyst roles.
- Master’s in accounting graduates typically pursue careers as Certified Public Accountants or corporate accounting managers.
- Mid-level management roles: With experience, specialized master’s graduates can qualify for mid-level management positions. For instance, a master’s in marketing graduate may become a marketing director after years in the field.
How to Choose Between an MBA and Other Master’s Degrees
“For me, a master’s in engineering deepens expertise in a specific field, while an MBA broadens decision-making skills for the overall organization. The choice comes down to whether you’re passionate about being the best individual contributor or stepping into leadership to remove obstacles for others.”
— Ethan Parsons, Engineer and UNOH Online MBA Student
In summary, MBA programs are often geared toward professionals who are interested in cross-industry business considerations and high-level management. Those who are interested in a more focused specialization area might instead pursue degrees focused on that area.
A few other things to consider can include your level of experience, current role or position, and desired career trajectory. Some questions you may consider include:
- Are you seeking broad management and administrative training, or a specific skillset targeted to a specialized domain?
- What does your ideal career path look like in the long-term?
- In the short-term, are you seeking high-level management roles right after graduation? Or would you rather be an individual contributor on a specialized team?
About the Online MBA from UNOH
The University of Northwestern Ohio offers an online Master of Business Administration degree for working adults seeking career advancement amid a busy lifestyle. This convenient advanced degree is taught by doctorate-level faculty who are experienced business professionals and educators.
At UNOH, we’re committed to providing an affordable degree option to help students catapult existing careers to new heights or pursue higher levels of new employment. Our MBA courses are 100% instructor-led and can be completed in less time and with less debt than other university MBA programs.
Request a brochure to learn more or start your application today.
