Master’s in Management vs. MBA: Which Is Better? (2024)

Both a master’s in management and a Master of Business Administration (MBA) are advanced business degrees that some professionals seek in an effort to propel their careers forward.

An MBA degree program will focus on broad-level business leadership and managerial skills. Typically, these programs are designed for individuals with a few years of professional experience who are looking to advance their careers. Programs will likely cover a wide range of business topics through a core curriculum, such as management, strategy, and finance, and will give students the opportunity to specialize in areas such as business analytics or accounting.

A master’s in management, or a Master of Science in Management (MSM), focuses on the particular area of business management. It is one type of master’s degree in business, alongside options such as accounting, finance, business analytics, or marketing. MSM programs may offer some general business courses, however the majority of the coursework will concentrate on management.

Read more: MBA vs. MS: Choosing Which Is Better for You

What is the difference between a master’s in management and MBA?

The key differences between a master’s in management and MBA stem from the expected business experience of an incoming student. The program structure and post-graduation career path align with that level of experience.

Here is a quick comparison:

Master's in management vs. MBA student profile

The biggest difference between the average MSM student and MBA candidate is their professional experience. MSM programs are typically designed for students with less professional experience who want to develop business skills. MBA programs tend to require several years of professional work experience and are designed for business professionals looking to advance their careers.

According to a 2023 survey of mostly US-based prospective business students, 67 percent of MSM applicants had either no work experience or less than two years of work experience. On the other hand, 79 percent of full-time, two-year MBA applicants had more than two years of work experience, with 42 percent of applicants falling in the two to six year range [1].

Learn more: How to Get an MBA Degree

Master's in management vs. MBA program comparison

MSM and MBA programs are designed with varying levels of experience in mind.

MSM programs are designed for individuals who are preparing for entry-level positions on a management track. Generally, that includes people who have recently earned their undergraduate degree or are working toward a career change. These programs typically take one year of full-time commitment, with an intensive focus on management skills.

MBA programs assume a certain level of established business acumen. Candidates may already hold leadership positions or are looking to advance into management or executive-level positions. Full-time MBA programs are generally a two-year commitment and will explore how various business departments interact within a company.

In addition to classes on management, MBA programs may also include core courses in areas such as:

• Strategy

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• Finance

• Marketing

• Ethics

• Communications

Many MBA programs also offer further opportunities to specialize in a variety of areas, including:

• Accounting

• Business analytics

• Entrepreneurship

• Health care management

Because MSM programs are shorter, the total cost will likely be less than the total cost of an MBA program.

Master's in management vs. MBA salary and career opportunities

Because MSM graduates tend to be closer to the beginning of their careers while MBA graduates tend to be moving toward mid- or upper-level positions, it’s hard to do a direct comparison of salary outcomes.

In 2023, one survey estimated that the median salary for MBA graduates was $125,000. For MSM graduates the median salary was $85,000 [2]. This salary disparity is likely more a reflection of experience level than value of the degree, as MBA candidates typically have more than a few years of work experience, while MSM graduates are closer to entry-level.

Whether you choose to pursue an MSM or MBA, you may find yourself in demand. The same survey reported that 91 percent of companies surveyed globally anticipated hiring MBA graduates, and 78 percent anticipated hiring MSM graduates [2]. Hiring projections for MSM graduates were particularly high in the technology sector, while hiring projections for MBA graduates were high in both the consulting and technology sectors.

Read more: Is an Online MBA Worth It? The Return on Your Investment

Which is better: Master’s in management or MBA?

When it comes to comparing MSM degrees to MBA degrees, neither is necessarily better than the other—but one may be better aligned with your immediate career goals. If you are looking to further develop your leadership skills, depending on where you are in your career, either an MSM or MBA can help you do that.

Both degrees are designed to develop the business skills necessary to ultimately move toward management positions. Generally, a recent graduate or someone looking to make a career shift into business may find an MSM more helpful, while a professional a few years into their career may find an MBA more relevant.

For a more specific comparison, take a look at the iMBA and iMSM programs at University of Illinois Urbana-Champaign’s Gies College of Business, both available on Coursera.

Furthering your business education

If you’re thinking about pursuing your MSM or MBA, research the various business degree programs that interest you to determine the next steps toward your career goals.

Want to get started today? Through the University of Illinois Gies College of Business, learners can earn either their Master of Science in Management or MBA completely online. Enroll in an open course any time to help decide if an advanced business degree is right for you.

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