Ultimate Guide to Master’s in Business Degree Programs
A bachelor’s program can help you get into a certain profession, but a master’s program will assist you in climbing the ladder. While a bachelor’s program is the doorway, a master’s program can be considered the ticket to higher positions in organizations.
It’s the same story for master’s in business degree programs, as a lot of business graduates opt to go this way. While working in specific organizations, many business graduates realize how they can make their way up the hierarchy, and one of the surefire ways of doing that is by becoming even more qualified.
So, let’s talk about all you need to know regarding a master’s in business degree. We’ll talk about the kind of courses you’ll find in these business degrees and the type of things you’ll learn. We’ll also discuss some other intricacies. So, let’s dive right into it.
What is a Master’s Degree in Business?
A master’s program in any field provides advanced knowledge and tactics of the field of study. Usually, this 2-year and 60-credit-hour degree emphasizes the things you’ve already learned in the bachelor’s program. However, certain specializations can build up in specific fields.
For instance, if you’ve done a general BBA program, then a Master of Human Resource Management program will build up on the HR knowledge that you might have gained in the bachelor’s program. Moreover, for some, a master’s degree is just a stepping stone to go to the next level.
This could be to elevate their professional lives and get to an executive-level position. For others, it could be a step towards more advanced degrees, like a PhD degree. Much like the bachelor’s degree in business, master’s degrees also focus on specific categories, such as:
- Business Management
- Marketing
- Human Resource Management
- Accounting/Finance
- Logistics or Merchandizing
This allows the student to gain more expertise and earn a higher qualification to manage everyday aspects in these fields. Now, as mentioned earlier, it’s usually a 50-60 credit hour program. But some can be as low as 30 credit hours.
These specializations are usually called accelerated degrees, and they tend to focus on only the key subjects. So, you won’t find any filler courses or subjects that aren’t absolutely necessary for the master’s degree.
What Do You Learn in a Master’s Business Degree?
A master’s degree in business usually falls under MBA (Master of Business Administration) or MSc in Management (Master of Science in Management) program. These programs will still provide a specific major or concentration.
For instance, Shidler College of Business in Hawaii has a program called Master of Science in Marketing Management (MSMM). This program has all the management aspects to it, but they are all concentrated on managing marketing campaigns and other marketing elements.
What you learn in these programs are management and leadership skills to execute strategies according to the specialization. So, let’s say you pick a specific specialization, then here’s what you’ll learn in them:
| Specialization | What You Learn |
| Finance | Understand financial markets, and investment strategies and focus on creating finance strategies. |
| Marketing | Understand marketing strategies, create them, and execute tactics to help promote a business, product, brand, etc. |
| Entrepreneurship | Basics of starting new ventures, fundraising, management, and scaling. |
| International Business | International market laws and basics of managing global businesses. |
| Operations Management | Managing supply chain, logistics, and merchandising for businesses. |
| Supply Chain Management | Learning procurement, inventory management, and supply chain analytics. |
| Business Analytics | Predictive analysis using AI and other advanced technology. Leveraging Big Data and focusing on decision science. |
These degree concentrations underline other subjects that push the student’s knowledge to an advanced level. Besides theory, there are other practical programs for master’s degrees as well, and these include academic thesis, dissertations, etc.
Top Specializations of Master’s in Business Programs
As you can see above, their courses are meant to provide information regarding them too. So, what are these programs and who are they the best fit for?
Let’s categorize each of the top courses you can find in a master’s in business program today:
| Concentration | Courses to Expect |
| Management/Leadership |
|
| Finance and Accounting |
|
| Marketing |
|
| Economics |
|
| Operations and Supply Chain |
|
| IT (Information Technology) |
|
The courses and focus of each degree help the student speed toward their career goals. Let’s say a digital marketing bachelor is looking to break into the AI industry, then picking the relevant major can help them do so.
So, how exactly do you pick the right one for you? Here are some tips:
- Choose one that helps advance your career;
- Look for higher-level jobs and their degree requirements;
- Pick the option with courses that align with your interests/ambitions;
- And choose something that you can afford to do—both in terms of time and money.
Therefore, if you studied a bachelor’s in any of these fields, then earning a master’s in them can help you gain extra exposure.
Why You Should Opt For a Master’s In Business After Bachelor’s
Pursuing a master’s degree will make you better suited for a leadership/higher position in your desired industry. You can ask any hiring manager for research, and they’ll tell you that the candidate with a master’s degree would be a better potential candidate to lead, strategize, and maneuver business plans—compared to a bachelor’s degree holder.
As we’ve explored in the previous sections, the advanced nature of courses and areas of study makes students better equipped to tackle challenges on a higher level. This includes the ability to help businesses reach their short and long-term goals.
So, you should opt for a master’s in business after doing a bachelor’s then you can:
- Advance in your career;
- Unlock higher earning potential;
- Find better networking opportunities;
- Pursue higher level positions in organizations;
- Enhance your skills to lead specific departments;
- And learn entrepreneurial skills for starting your own business.
That’s why, it’s a good idea to pursue a master’s after a bachelor’s degree in business. Besides, if you’re someone who studied a general business degree, and wishes to earn a specialization, then pursuing a master’s program can help you achieve that.
Are Online Master’s of Business Degree Programs Worth It?
Yes, they are worth it as they allow you to pursue the degree without needing to travel. But aside from that, online programs are also more affordable than on-campus ones. On top of it, you get to study it from anywhere and in some cases, at any time.
If you find an at-your-pace degree, then you earn this online master’s in business at your own pace. There aren’t many universities that offer it, but you can still find a few in the United States that do. So, pursuing an online master’s of business degree has benefits like:
- Accessible to unique courses not available in-state;
- Comparatively affordable;
- Better choice if you work full-time;
- And the option to pick out-of-state universities.
Now, to put things into perspective, let’s explore some of the top MBA programs, both on-campus and online, and their costs:
| University | Program | Online/On-Campus | Average Cost |
| Stanford University | MBA | On-Campus | $44,000-$88,000 |
| Leigh University | Accelerated MBA | On-Campus | $68,000 |
| Arizona State University | Online MBA | Online | $66,000 |
| University of Georgia | MBA in Technology | Online | $25,000 |
However, another important thing to remember is your own preference. If you’re someone who is looking for an online program, then here are a few that we recommend:
- Arizona State University’s Online Master of Business Administration
- Ottawa University (Kansas) Online Master of Business Administration
- Kelly School of Business (Indiana University) Online MS in Business Analytics or MS in Finance
- College of Graduate Studies (CSU) Online Accelerated Master of Business Administration
- National American University’s Accelerated Online MBA
Pursuing any of these programs online will benefit you in terms of lower costs, and better time management.
That’s why, a lot of post-graduates who work full-time, choose to go the online way. This allows them to work while getting their degree.
Enrollment Requirements for Master’s Degree in Business
The first and most important requirement for a master’s degree in business is graduation. In other words, you must be a graduate in business or other relevant fields. You can come off a general business program and then choose to enroll in a specialized/concentrated master’s degree.
However, you must also fit the criteria for enrollment. Therefore, most universities require you to have the following:
- Around 2.5 or more GPA in your bachelor’s;
- Work experience in your field (eligible in specialized degrees);
- Successful Graduate Management Admissions Test (GMAT);
- A detailed resume with achievements;
- Statement of purpose or personal essay;
- And a recommendation letter.
These requirements might vary, depending on the university that you apply to. Therefore, be sure to research the admission process for the program/university that you pick. Or, get in touch with the admission department to avoid any errors when applying.
How to Pick the Best Program for You?
Picking the right program for you should be easy, especially if you’re clear with your career aspirations. However, you should consider a few things, like the cost, the stature of the university, and how the entire program might be convenient for you. So, let’s put it into three main areas:
1: University
Picking the university is perhaps the most important step for picking the best program for you. So, consider the universities that are in your near vicinity, so you can avoid out-of-state costs. But, if you choose to pick an online university, you rid yourself of that issue.
Because universities like ASU (Arizona State) have no in or out-of-state costs for online degrees—they all cost the same. Besides this, you should also consider the benefits, workshops, internships offered, etc.
2: Cost
The cost is another key element, and perhaps the most important point in any student’s final decision. If the program’s cost is what you can afford, then you should go for it. Or, make a list of a few programs that are in your budget, and then pick the best one for you.
3: Career
Where you are in your career is another thing to consider. If you’re looking to advance, or simply pursue a higher position in your organization, then picking a relevant program is necessary. So, explore the niches, and see which specializations earn you the best way forward.
Lastly, the impact of the said degree on your career should be your most important consideration. If the degree helps you advance in your career, move to a higher position, or chase a specific job title, then you should pick the program accordingly.
Wrap-Up: What’s Next?
The next step is researching the universities and programs that suit your career or ambitions. If you’re on this guide, likely, you’ve already picked the program that’s ideal for you. So, we hope this article lets you find the right university with the program that suits your ambitions.
So, keep in mind the things we talked about and prepare accordingly. Meaning, you get a couple of recommendation letters, start working on your statement of purpose, and research away.
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