COVID-19 is an unprecedented public health emergency affecting every industry. While some have stronger defenses, others will struggle to reset to a normal that is constantly redefined—and redesigned. Perhaps, to further your study after graduating from undergraduates probably is one of the choice to keep the impact to minimum.
However, before you making the decision to take the master degree, please ask should I study for a postgraduate degree with the following considerations.
* progressing a current career path
* improving employment prospects
* developing a personal interest
* progressing to a higher level qualification (such as a PhD)
* entering a particular profession
* meeting the requirements of a current job.
Having a relevant Masters degree could give you a crucial competitive edge in a crowded job market – employers are increasingly looking for ways to distinguish between candidates, and this higher-level qualification shows your ability to commit to an intense period of work. However, many undergraduates who just finished their bachelor degrees choose to take an MBA. Do remember that you will only benefit fully from a Masters if it’s complemented by relevant work experience. Without this, your employability will be weaker and you run the risk of getting into unnecessary debt.
If you are considering a postgraduate-level degree in business, there are three main options available to you: MA, MSc or MBA. The core courses of any postgraduate business degree aim to introduce advanced-level topics in areas of business such as accounting, finance, marketing, human resources and operations management. Many programs then offer a wide range of elective courses, although some are specialised in one particular area of interest right from the start.
The Master of Business Administration (MBA) remains a popular choice for business-related studies, both among students and among potential employers. Nonetheless, there are many reasons why newly graduates should choose to opt instead for an MA or MSc in Business (Master of Arts or Master of Science).
Differences between MBAs and other Masters in Business
Some of the key differences between an MBA and other Masters in Business programs are explained below:
Usually, MBA entry requirements also state that applicants must have a minimum amount of professional experience, usually at least two or three years and often more (especially for an Executive MBA).
Other types of Masters in Business instead focus more on requirements such as a good undergraduate academic degree. So, an MA or MSc in Business is likely to be more relevant than an MBA for those students who are coming straight from undergraduate level, with little or no relevant work experience.
Course content and specialisations
Both MBAs and other Masters in Business cover a range of core business topics, and allow students to specialise by choosing from a range of elective courses. Despite this opportunity to specialise, MBAs typically give a comparatively general overview of business, In contrast, an MA or MSc in Business tends to provide scope for greater specialisation. This then allows graduates to apply for more specialised roles after graduation.
While any higher-level degree is likely to improve your career prospects, most MA/MSc in Business graduates will be starting their first job after their degree, thus being only able to apply for entry-level positions. MBA students already have work experience, so upon graduation, they become “experienced hires” for companies, and are able to apply for more advanced jobs including leadership and management positions. However, if you coming straight from undergraduate level, the MBA actually will not make your career prospects more brighter.
MA or MSc in Business?
If you’ve decided that a Masters in Business is the right choice for you, the next choice is between a Master of Arts (MA) in Business and a Master of Science (MSc) in Business. Generally speaking, the second of these is more commonly offered.
Traditionally, the MSc is delivered with a science or technical focus while the MA has a humanities focus. Thus, an MSc in Business may require students with a strong academic background in a business-related subject while an MA in Business may instead accept students from all academic disciplines. Some common Masters in Business degree programs you may encounter include: Master of Arts in International Business; Master of Science in Business Analytics; Master of Science in Business Administration; Master of Science in Business Accounting; Master of Science in Business Analytics; Master of Science in International Business Management; Master of Science in Digital Business; Art and Business (MLitt); Master of Science in Business Psychology; Master of Arts in Business & Executive Coaching and MSc Business (Finance & Accounting).
Hopefully, after reading this post, when it’s your turn to make a decision between perusing career or studying and between a MBA or MA/MSc, you are more confident to make the judgement.
If you decide to take a mater degree in business, at Rangsit International College, we have launched one of the most creative and innovative master degree related to business in Thailand.
In the next post, we will talk about why we think M.Sc. International Digital Business is the perfect programme for the current digital disruptive era. And what you will learn from M.Sc. International Digital Business.