Reviewed by: Shail Pandit, Associate Dean of Graduate Programs, UIC Business
For ambitious professionals aiming to land roles as senior-level individual contributors, managers, directors or even executive leaders, on-the-job experience can only take you so far. Advanced education in business, management and cross-functional strategic thinking can be the key differentiator you need to level up your skills and land the roles you’re aspiring toward.
The time-tested Master of Business Administration and the relatively new Master of Science in Management (MSM) are two options for those seeking more responsibilities and management careers in a variety of industries.
While both of these program types are known for producing competent management professionals, they have crucial distinctions that tend to attract different candidates.
Explore the difference between an MBA and MS in Management:
MBA vs. MS in Management: Curriculum Focus
The main difference between MBA and MSM programs is their focus:
- MBAs build broad skills and knowledge in business and management for mid-career professionals seeking leadership opportunities with high impact.
- MSM programs give recent college graduates an overview of business fundamentals and foundational management knowledge so they can jumpstart their management careers.
Given the different focuses, MBA and MSM programs offer different curriculum structures and course content. MBA degrees will include advanced courses on leadership, strategy and core business areas like finance and marketing. These courses are specifically designed to build your analytical thinking skills and prepare you to lead high-performing, cross-functional teams. Most MBAs will also offer you the opportunity to specialize in a particular business area through concentration courses.
The curriculum of an MSM program, on the other hand, will be more foundational. Students will mostly learn about the fundamentals of business, specifically within the management context. Since these programs are meant to be a jump-start for your career, they don’t usually offer opportunities to specialize in a particular area.
Is an MBA or MS in Management Better for Me?
Either an MBA or MSM program could be a great fit for you, and some of it will come down to what program structure you prefer and what you’re interested in learning. However, it’s also critical to understand that these programs are designed for different audiences — and for different outcomes.
Consider the oldest interview question in the book: “Where do you see yourself in five years?” If you’re aiming to transition to high-level management roles, such as director, VP or C-Suite roles, an MBA will be your best fit. But if you’re preparing for your first management roles or looking to start your career a few steps ahead, an MSM program will give you a solid foundation to build upon in future leadership roles.
MBA and MS in Management Career Outcomes
Because MBA and MSM programs are designed for different professionals and teach different concepts, the career outcomes of each degree are varied as well. While completing a degree doesn’t guarantee a particular role, MBA degrees typically lead to promotions to management or new leadership positions for graduates. MSM programs, on the other hand, prepare graduates for mid-level roles and entry-level management positions.
MBA Career Outcomes
- Business or management consultant
- HR manager
- Director of project management
- Marketing manager
- Finance manager
MSM Career Outcomes
- Business analyst
- HR generalist
- Project manager
- Marketing specialist
- Junior financial analyst
Is an MBA or MS in Management Worth It?
For many candidates, graduate education is well worth the investment and time. But, whether the degree is worthwhile to you will depend on your goals, preferences and drive.
Return on Investment and Average Salaries
To determine whether or not it will be worth it to earn a degree, you should first consider the potential ROI of the degree. No matter which degree you choose, the U.S. Bureau of Labor Statistics reports that master’s degree graduates enjoy higher salaries and lower unemployment than individuals with a bachelor’s, associate or high school degree.
As for the individual degrees, salaries will of course vary by individual. Self-reported data from Payscale reports that the average salaries of MBA and MSM graduates is:
Other resources report even higher median salaries, especially for MBA graduates who typically hold the highest leadership and C-suite positions in almost every industry. With an MBA degree, you benefit from significant upward mobility that’s associated with higher pay and more impact on organizational success.
Market Demand
In one of the most competitive job markets of all time, a master’s degree sets you apart from the crowd and increases your marketability when it comes time to find a new role. The business and finance sectors show strong growth potential, with nearly a million new roles expected to open each year through 2033.
Many of these roles will be filled by professionals with master’s degrees. According to a survey by CareerBuilder, 33% of employers are hiring workers with master’s degrees for positions that had previously been held by those with four-year degrees. And according to GMAC’s 2024 Corporate Recruiter Survey, employer confidence in graduate management education is rising. Employers are clearly valuing the bolstered credentials of master’s degree graduates, who demonstrate a strong readiness to tackle high-level challenges.
Specifically, MBA graduates are even more competitive in the job market, with demonstrated skills that are necessary to succeed in leadership and management roles.
<blockquote class=”callout”> <p><strong>MBA graduates were the most hired talent in 2023, a trend that is expected to have continued in 2024.</strong></p> </blockquote>
— Graduate Management Admission Council Corporate Recruiters Survey
Time-to-Completion
If your goals are time-bound, then it’s important to consider which degree will fit your timeline. Master’s degrees rarely take four years like a bachelor’s degree, but the time commitment can vary depending on which program you choose and the format of the program.
MBAs and MSMs typically are structured differently due to the curriculum requirements. MBAs usually take a bit longer to complete due to a more intensive and advanced curriculum. MSMs can be completed quicker, but offer a less advanced curriculum.
- MBA programs typically take about 3 years to complete on a part-time schedule, but flexible MBA programs can usually be completed in 2 or fewer years.
- MSM programs are usually a 1-year program, designed to launch a recent college graduate’s career.
How a UIC Business MBA Can Support Your Career
UIC Business Graduate School offers two MBA program formats that enhance your high-level business and management skills, strengthen your critical and analytical thinking abilities, and prepare you to implement high-impact strategies across organizations and industries.
You’ll also have the opportunity to choose from five in-demand concentrations, which prepare you for the leadership careers you want in the industries that most interest you:
- Finance
- Marketing
- Human resource management
- Business analytics
- Management
The two flexible MBA options (flex/hybrid and online) allow you to advance your career in the format that best suits your needs and goals. Both formats are available in a part-time format and offer rigorous, career-ready curricula taught by passionate faculty.
Experience the UIC Business Advantage: Flex or Online MBA
With two flexible, high-quality MBA programs, UIC Business Graduate School provides the flexibility, expertise and network you need to succeed. Our Flex Master of Business Administration program offers the perfect blend of in-person and online learning for ambitious Chicago professionals, while the Online MBA offers 100% online courses to empower aspiring business leaders to gain advanced business expertise with maximum flexibility. No matter which modality you choose, you’ll have access to a high-quality curriculum that includes five career-focused concentrations.
Founded in 1965, UIC Business has grown from a small college with three programs into a top-ranked, research-based business school with an international reputation. Located at the doorstep of Chicago’s financial district, our school combines the resources of a major public research university with deep connections to the city’s vibrant business community.
Learn more by requesting a brochure, or start your application today.
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