As the world begins to get more and more competitive, it is necessary to stay ahead of the curve. Young talent with extensive specialised skill sets and knowledge are increasingly more valued in the market. This means that you as a student are left struggling between whether to pursue an MSc, an MBA or both. Though you cannot pursue both together from the same university, some students opt to study one course in-person at their chosen university, while also simultaneously studying the other from a different institute via a distance learning programme.
More commonly, some students opt to attain both awards but study them at different times, allowing time to focus on one course and then later commit to the other.
In the next few paragraphs, we are going to explore more about how you can pursue an MSc and MBA together.
Is an MBA the Same As A Masters Degree?
A masters degree and an MBA are both Masters and post-graduate level programmes. However, both programmes differ and are meant for different focus areas in studies and life. Masters degrees are usually for people who are in the beginning stages of their career and are looking for specialisation, whereas an MBA is for professionals who usually have at least two to fours years of work experience and who want greater career flexibility, management roles, or business ownership.
Masters programmes such as an MSc is great for students who want highly specialised knowledge in a specific area. An MBA covers many subjects from finance and economics through to people management and is meant to offer a broader point of view of a business. An MBA helps individuals looking at general business management, strategy and leadership. If you aspire to get ahead in the fields of general management, executive leadership, or entrepreneurship, then an MBA would be great for you.
So, an MBA is not the same as a masters degree as both require different skills and have different outputs.
Which Is Better? MBA Or MSc?
If you want to enhance your skill level to a scientific level, then an MSc is a great choice. To pursue an MSc you need to have an undergraduate degree in a related field. The course structure will include the ‘theory of management’, and will focus on developing analytical and technical skills. Usually, MSc courses are taught over one year and you can also do an MSc in management, where they will teach you the same core principles as they do in an MBA.
If you have work experience and have the ability to pass exams like GMAT and GRE, then you can go ahead and enrol in an MBA programme. MBA programmes are always evolving in order to keep up with the demands of modern business.
If you want to get more scientific knowledge in a particular subject, then an MSc will work best. However, if you want to get management training and lead a company, an MBA is a perfect choice. Both are great programmes catering to different needs.
Is There An Advantage To Having Both An MBA And An MSc?
Yes, there can be several advantages to having both an MBA and an MSc. These include:
- Better insight: A double degree offers a better insight into the world of business. You might have studied business at an undergraduate level, but a double degree will offer insight into the complex mechanics of business coupled with a deeper scientific knowledge of a particular field.
- Enhance career opportunities: As we already know, the competition out in the world is fierce these days, and to jumpstart your career, there is nothing better than a double degree. It will help you boost your chances of landing a more senior or managerial job role much earlier on in your career.
- Great way to pursue two areas of interest: Since an MSc provides a scientific outlook, while an MBA gives a managerial outlook; you will have the opportunity to pursue two diverse areas of interest when you do a double degree.
The Challenges of pursuing both two degrees together
Though many students do ambitiously choose to pursue both the degrees together, it is important to understand the drawbacks of this approach as well. One problem that you might face is lack of time. Since you will be pursuing two challenging degrees at once. Not only will you have to complete assignments for both, but also attend two sets of classes as well. You may find that you end up with two average grades at the end, rather than one really strong score.
A double degree has a lot of pros, the biggest one being that it might jumpstart your career and boost your chances of climbing the ladder at a faster rate. If you do decide to undertake both programmes then make a careful decision as to whether you can really manage the time and pressure of studying both together or if you should study them separately. If you’d like to read about the differences between MA and MSc degrees, you can check out this article.