Business School Degree Cheat Sheet: What Type of Degree Should You Get?
An MBA is the most common type of master’s degree for b-schoolers, as it encompasses a vast array of skill sets and opens the door to roles in a multitude of industries. Though the MBA is versatile, there may be another high-level graduate degree that is better suited to your individual needs. No need to go cross-eyed looking through each school’s offerings to figure out which degree is best for you. We’ve created a cheat sheet to help you find out what type of business school degree is right for you.
Masters in Business Management (MBM, MIM, MM, MMgt)
A Masters in Business Management is similar to an MBA, but generally shorter and more broad. This degree is better suited to students without a business background who are interested in the core fundamentals of business. According to Study.com,”Most master’s degree programs in business management include core courses in organizational behavior, business communications, economics, financial management, business strategy and legal issues in business.”
This degree prepares students for management careers in a broad range of fields. The London Business School has a renowned MIM program that is designed to be flexible, and boasts several opportunities to gain a global perspective on marketing, like the Global Immersion Field Trip and the international exchange option.
Master of Accounting (MAcc)
While an MBA with an accounting specialty will provide a majority of classes on general business topics and then a few specific accounting courses, a Master of Accounting does the opposite. Students still get some knowledge of general business topics and principles, but courses are more focused on different aspects of accounting.
According to topaccountingdegrees.org, MAcc students are often able to choose an emphasis, should they wish to tailor their education even further. The website says that professionals with MAcc’s “will have a deeper and more thorough knowledge of accounting practice and theory than their MBA counterparts, making them better suited to accountancy work and better equipped to pursue doctoral coursework.” Most programs will help students achieve requirements for obtaining a CPA license.
Master of Professional Accounting (MPAc, MPA)
Though similar to MAcc, the MPAc does not require that applicants majored in an accounting-related field. This is a good option for students hoping to transition into accounting. Like the MAcc curriculum, most programs will help students achieve requirements for obtaining a CPA license. U.S. News & World Report ranks the University of Texas McCombs School of Business MPA as one of the best accounting program in the country.
U.S. News & World Report currently ranks the McCombs’ accounting program as the best in the country.
Master of Marketing Research (MMR, MSMR)
A Master of Marketing Research will allow students to delve into the driving forces behind consumer choice. Students learn to conduct effective marketing research and utilize the data they collect to make decisions that will yield maximum growth. While the MBA focuses on the tenets of business management, the MMR zeroes in on the intricacies of conducting, interpreting, and utilizing market research.
This type of degree did not exist until 1979, when University of Georgia’s Terry College of Business developed an MMR program. Though many universities have since adopted MMR tracks, the program at UGA Terry remains one of the most notable. Though many marketing research jobs do not require an advanced degree, it is sure to provide an edge in terms of both landing a job in this field and executing it skillfully.
Master of Science in Finance (MSF)
Master-of-finance.org claims that a Master of Finance degree prepares students for careers in fields like: Corporate finance, investment management, financial analysis, and personal financial planning. Like many of the masters programs listed in this guide, most MSF programs will provide students with a solid base of business and management basics. American University has a notable MSF program, which gives students who are interested the opportunity for hands-on experience via helping to manage $500k in the Student Managed Investment Fund.
