MBA vs. Master's: What's the Difference?

An MBA, or Master of Business Administration, is a post-graduate degree that provides theoretical and practical training in business management. It’s intended to help business students and individuals who are already established in their careers further their business education while developing advanced management and leadership skills needed in the modern workplace.

Depending on the institution, MBA programs may be earned full-time, part-time, online or on campus.¹ Some programs are tailored for busy working adults, while others are more suited to full-time students coming directly from bachelor’s degree programs. A typical MBA program takes around 2 years to complete. 

Like the MBA, a master’s degree is a postsecondary academic degree. Master’s degree programs typically provide deep insight into a specific areas of study and may help you become familiar with the technology being used in that field. 

Several characteristics differentiate MBA vs. master’s degrees, including the curriculum, their focuses, the potential career paths each of them may help prepare you for, cost, program length or admission requirements to name a few. 
 

A Master of Business Administration (MBA) degree program covers a range of business topics that those looking to pursue management roles will need, as well as people management, leadership and collaboration skills. Often, MBA programs can be coupled with specializations in a variety of disciplines to include material specific to a certain field or area of business, but we’ll cover that in greater detail a little later on.

As we mentioned, a master’s degree typically focuses on a specific area. They typically do not include coursework that centers on management skills, unless the master’s degree’s focus specifically outlines that. 
 

When choosing between an MBA and a master’s degree, consider your desired career path. If your ideal path is leading you to a function-specific role, then it may make sense to pursue a master’s degree in that discipline. If you’d prefer to gain a broader wealth of business knowledge alongside leadership and managerial skills, an MBA may be the better option for you.
 

The cost of a graduate-level program will depend on the particular institution you’re enrolled at. The total cost to earn a master’s degree or an MBA here at DeVry depends on several factors, including any qualifying transfer credits you may have as well as scholarships or grants you may qualify for. To learn more about our cost per credit hour, visit our Tuition page. Our Admissions Team can help you develop a customized tuition plan based on your individual circumstances and needs.

How long does it take to complete a master’s vs. MBA? Again, lengths will vary depending on the school you select, their program’s structure, transfer credits you may be bringing with you or if you choose to study on a full or part-time basis. Speaking in broad terms however, it typically takes a little more than 2 years to complete either program.

At DeVry, our MBA can be earned in as few as 12 months on an accelerated schedule, or 2 years and 2 months on a normal one.²

Admissions requirements will vary from one educational institution to another, as will acceptance rates.

Keller graduate admissions requires applicants to hold a bachelor’s degree from a University-recognized postsecondary institution (international applicants must hold a degree recognized as equivalent to a U.S. baccalaureate degree) and demonstrate English-Language, math and verbal skill proficiency. All applicants must also complete an interview with someone from our admissions team.

While we’ve covered how these two degrees compare and contrast in general terms, there are instances where an MBA can be earned with an additional focus in a specific field. Here at DeVry and our Keller Graduate School of Management for instance, students have the option of enrolling in a general MBA program or choosing from 10 different MBA specializations to help them better align their education with the career aspirations.

When deciding whether to pursue an MBA vs. master’s degree in a specific discipline, you might be wondering how the two stack up to each other.

Let’s look at 2 examples from DeVry:
 

Here at DeVry and Keller, our Master’s Degree in Accounting and Financial Management and our Master of Science in Accounting are designed to help you prepare to pursue careers in corporate finance as well as financial or managerial accounting. Student can select from 3 different emphases:

Another example illustrating the key differences between a master’s degree and an MBA with a similar concentration can be found in the area of human resource management.

Our Master’s in Human Resource Management degree takes a deep dive into the theories and practices of modern HR management, and fully aligning with the current HR Curriculum Guidebook and Templates of the Society for Human Resource Management (SHRM). This alignment means the program curriculum has the most up-to-date content related to HR management in dynamic areas like compensation and benefits, employee and labor relations, employment law and more.

Our MBA with a Specialization in Human Resources features HR-related coursework in human resources leadership, strategic HR management and performance measurement, along with our core MBA curriculum centered around business essentials like communication, digital leadership, managing organizational change, international human resources and the legal, ethical and political dimensions of business. 

The most straightforward answer to the masters vs. MBA question can be found by examining your career goals. If you’ve already completed a bachelor’s degree and you have some on the job work experience under your belt, you probably have a good idea where you want to go next.

If you have your sights set on a very specific role, then a master’s degree may be your best option. If you want to be more of a generalist or position yourself as a candidate for a wider variety of roles, then an MBA degree may be the best choice.

If you’re not sure, keep your eye on job postings to see what degrees the employers or roles you’re interested in are specifying. Seeing the specifics in this context might help you make a better-informed decision. 

If you’re ready to take the next step toward your goals, DeVry and Keller can help. With a range of online master’s  and MBA degree programs designed for busy working professionals like you,  you have the flexibility to learn where and how you need to, with no GRE or GMAT required.

Did you know? Scholarships and grants aren’t just for undergraduates, and can help make your Keller graduate degree more affordable. Speak to DeVry Admissions Representative for more details.

Our Master's Degrees are accredited⁴ by the Accreditation Council for Business Schools and Programs (ACBSP) www.acbsp.org.