The number of individuals pursuing professional degrees after graduating college has increased in recent years. In 2000, just over 10 percent of the adult population in the U.S. held a master’s degree. By 2018, that percentage had doubled.
Earning a master’s degree can open up a variety of new career opportunities, or help you to advance your current one. So how do you know which degree program is best for you and your career? Here are a few of the types of business master’s degrees you could choose from.
Master of Business Administration
Perhaps the most common type of business master’s degree is the Master of Business Administration (MBA). You’ll find this degree on the resumes of many Fortune 500 executives.
The MBA is a more general business degree. It’s perfect for those looking to fine-tune their business skills in a variety of areas, advance their position within a corporation or otherwise pursue administrative, management or other high-level positions. This degree can also be a great stepping stone for individuals hoping to break into highly competitive job markets, such as a tech company in Silicon Valley or finance or investing on Wall Street.
One drawback to an MBA is the time commitment. If you’re earning the degree to advance a career that you’ve already started on, you might not want to take years off to attend class in person. Fortunately, you can opt for an online MBA program, which allows you to earn your degree while still going to the office each day.
Master of Science in Business Analytics
A Master of Science in Business Analytics (MSBA) is a more specialized master’s degree program for the business field. Rather than providing an overall advanced education on business, this degree is focused on analyzing data.
Students pursuing an MSBA will receive an in-depth education on statistics, programming, economic trends, data visualization and more. If you’re looking to work in a data-focused area of business, running the books for a major corporation or helping it grow, this is the degree for you.
Master of Science in Finance
Some business master’s degrees are more specialized than others. An MBA might be a more general overview of the skills you need to succeed in the business field, but a Master of Science in Finance (MSF) will help you become an expert in the finance field.
Finance positions are not only well-paid, but also fast-paced and demanding. While earning an MSF, you’ll hone your existing skills and learn how to better handle a company’s finances.
Master of Science in Marketing
Business marketing can be a rewarding, yet challenging field. The world of marketing, trends and what works is constantly changing. Marketing experts must adapt their methods as these changes come about.
It is also a competitive field. If you want to stand out from the crowd of other applicants vying for great positions, earning a Master of Science in Marketing (MSM) is a great choice. In this degree program, you’ll learn about the changing digital landscape, gain the technical skills you need to craft a variety of ads and marketing tools and more.
Choosing the Right Business Master’s Degree
Choosing the right business master’s degree can not only help you to hone your skills to get the job or position that you want but will also fit your current schedule and needs as a student. Whether you choose a program to launch a new career or one that will advance your current job, any of these business master’s degree programs can be a great choice.
