If you鈥檝e already made the decision to go back to school for an advanced degree, choosing your next step can be challenging. Beyond knowing what you want to do after completing another round of school, you鈥檒l have to decide the best path to get there. The good news is that most careers these days offer much more flexibility than they have in the past. (This means that you don鈥檛 have to stress. No matter which path you choose, chances are it鈥檚 a good one.)
One of the biggest challenges after determining which school is best for the next step of your journey is deciding if an MBA program will be sufficient for your career or if you need a specialized master鈥檚 degree. Let鈥檚 break it down.
What鈥檚 the difference between a master鈥檚 and an MBA?
Trick question. An MBA, or Master鈥檚 in Business Administration, is actually a specific type of master鈥檚 degree. The only reason people treat it as its own category is because its coursework and application range to cover many business topics, making it one of the most versatile graduate degrees. MBA programs are often more standardized so you know what you鈥檙e getting into and what the expectations will be as soon as (if not before) you enroll.
Unless you鈥檙e looking for a very specialized career (i.e. neurosurgeon, social worker, elementary teacher), almost everyone can find value in MBA coursework and applications. Knowing your industry鈥檚 expectations is important; find a mentor or just someone with the career/position you would want and ask for their input. They might be able to tell you how they got there, if they would have done it differently, and if they would recommend an MBA or a specific degree.
So there鈥檚 just one kind of MBA?
Nope! Under the MBA umbrella, there are more specialized programs if you have a clear picture of where you鈥檇 like to go with your degree. If you鈥檇 like a 鈥渂ig picture鈥� degree without focusing on a specific area, you can do that, too! OCU offers programs in Leadership and Healthcare Administration as well as joint with OCU Law that provide graduates with a Juris Doctor and an MBA at the same time.
Think of 鈥淢BA鈥� as a broad category, kind of like when you chose an undergraduate degree based on what you ultimately wanted to do and ended up with a 鈥渂achelor of science鈥� even if your job doesn鈥檛 have a lot to do with science. If you do choose an MBA track, your diploma will read 鈥淢aster鈥檚 in Business Administration in Healthcare Administration,鈥� for example.
MBA programs are typically designed to help students gain communication, collaboration, problem solving, technology, and management skills. Courses can span a wide range of business topics including accounting, finance, economics, human resources management, leadership and marketing.
These various tracks within the MBA category help to provide coursework and insight that might be more relevant to your chosen career. More good news: Because these degrees are held to MBA standards, you鈥檒l learn everything you need no matter which track you choose, and you can change tracks if you decide another one would be more beneficial. And if you don鈥檛 choose a track and prefer to get a standalone MBA, you鈥檒l still learn everything you need on a broader range of topics. No matter what your specialty, MBA faculty members are there to help YOU succeed.
So why would I want a specialized master鈥檚 degree?
Instead of learning about all the topics, a master鈥檚 degree in a chosen field will take a deeper dive into your chosen area of study. This means that you鈥檒l already have to know what you want to do after graduation, making it the perfect option for people who have a clear career path and/or are already practicing their careers and need continued education. (IMPORTANT: If your current employer has a continuing education program that will provide financial assistance toward your degree, do NOT let that opportunity pass without fully considering it.)
Additionally, some people don鈥檛 have corporate ambitions. If your career doesn鈥檛 involve a 鈥渂usiness,鈥� chances are you鈥檙e not as interested in a 鈥淢aster鈥檚 in Business Administration.鈥� And even if it does, a master鈥檚 in another subject will still give you essential business skills, but you鈥檒l have more knowledge and experience in your specific field. When you break down the coursework for a master鈥檚 degree, you鈥檒l almost always find at least one essential business class that prepares you for interactions that everyone will have to perform no matter what field you鈥檙e in (think interviews, time management, etc.).
Most master鈥檚 programs require around 10-15 courses, which translate into course credits depending on workload and difficulty. OCU offers a variety of specialized master鈥檚, as well, including:
- Master of Arts in Nonprofit Leadership
- Master of Arts or Science in Criminology
- Master of Education - Licensed Professional Counseling
- Master of Fine Arts in Creative Writing
- Master of Fine Arts in Screen Acting
- Master of Music
- Master of Physician Assistant Studies
- Master of Science in Accounting
- Master of Science in Energy Legal Studies
- Master of Science in Energy Management
- Master of Science in Nursing
Timelines and requirements will vary to fit every student鈥檚 needs, including incorporating previous coursework if applicable and various adaptations to class structure. This has never been a more important factor than in the era of COVID-19; your coursework may be offered completely online or with a distance learning option. Make sure you consider all factors before deciding where to invest your time and money.
Whatever you choose, it鈥檚 hard to go wrong.
We mean it. Earning an MBA or a specialized master鈥檚 degree is a big deal, and you can鈥檛 go wrong with more education. However, the jobs you apply for in the future might require a specific degree, which is why it鈥檚 important to know what you want to do. If you don鈥檛, that鈥檚 OK, too! An MBA might be a good option for you, one that might even help you determine what you鈥檇 like to do based on what 鈥渃licks鈥� during your courses.
As you鈥檝e probably realized by now, there are lots of options. Although that can be overwhelming, think of it as a 鈥渨orld is your oyster鈥� kind of thing. Every program has its own benefits and merits, and choosing one should be a pleasant experience. If you need help or want to talk through your options, our admissions team is ready to take your questions. Whatever your passion is, there鈥檚 a degree that fits. It might just take some consideration to find it!
