What are the differences between a Master’s and an MBA?
The world today requires more qualified and specialised people, so today’s educational systems offer a high-quality education and various university careers to meet the total educational demand of society. Today, more and more training is needed for any standard or managerial command that wants to value their experience and professional career. There is an excellent offer of postgraduate training programs for managers, including the well-known MBA, or masters.
What are the advantages of an MBA?
What are the factors that differentiate it from a master?
The first thing is to identify who could study an MBA
Initially, you must be someone with a few years of work experience who wants to develop professionally, have business knowledge, aspiring to be a business manager, consultant, or entrepreneur. It can be a person who comes from any profession, can be an economist, engineer, administrator or even graduates in letters.
It is aimed at graduates and professionals who wish to develop their activity in the field of business management, although it is also suitable for entrepreneurs and specialists who want to know better the operation of a business project.
Why study an MBA?
The participants of an MBA acquire a general knowledge of the different areas of a company and assume a global and strategic vision of the same.
The Master of Business Administration (MBA) provides expertise in functional areas of marketing, business strategy management, operations (including logistics and procurement), finance, HR, economics and accounting.
The realisation of an MBA brings to the professional, job stability, higher income, better opportunities for professional development, leadership skills consolidation and networking amplification and a holistic perspective on the business world.
Currently, companies are expanding abroad with a single objective, to achieve new business opportunities. They require professionals with a global vision of the company.
Also, studying an MBA allows students to develop their ability to analyze challenges facing the market and its competitors, bringing to the debate a series of real situations of the company and its executives and possible solutions that can be found.
Perhaps what you get from an MBA is a greater awareness of what is happening, and some ideas on how to act to take advantage of what is about to happen.
Differences between a Master and an MBA
The Master is especially suitable for people who want to focus their professional career on a very specific sector, to a specific department within the company. On the other hand, the programs of the MBA focus on all the areas of the operation of a company. The main difference between an MBA and a master’s degree is that the former offers a more general view, while the latter is oriented towards a more specific functional area of the company or a particular sector.
Depending on the master’s degree, the requirements to access it vary but in general it is necessary to be licensed or have a degree. As for the curriculum, both programs offer courses in general management, integrated teamwork, case studies and a practice-oriented approach. However, master programs focus more on the theoretical aspect of the management field. MBA programs, on the other hand, put more emphasis on the practical issue.
Master programs, in general, do not require previous professional experience so; Master’s students in business administration are much younger than MBA students.About tuition fees, Master’s programs are more economical than MBA programs, but this point always depends on the centre of studies and the program.
However, both programs enjoy an excellent reputation in the professional world, and all experts qualify as an investment of the future. It is imperative not to forget that the more training, the higher the labor productivity. The labor market demands constant updates from professionals. The practices and techniques are becoming more modern, so it is necessary to stay close to the classrooms to remain relevant.