The MBA is the world’s most sought-after graduate management degree but recent years have seen business master’s programs grow in both number and popularity. 

In fact, the 2025 GMAC Prospective Students Survey revealed that interest in business master’s programs has increased by 8% since 2023. While the MBA remains the most popular degree for prospective business students, interest in the program fell over the same period. 

There are a wide range of business master’s programs to choose from. These include generalist master’s programs, such as a Master in Management, and more specialist topics such as a Master in Finance, Master in Accounting, or Master in Business Analytics.

The MBA on the other hand offers a generalist curriculum with a particular focus on management and developing through experiential learning. Programs typically offer the possibility of studying some specialized electives in the topic of your choice.

Deciding between the various options can be tricky. So, which should you choose to study?

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MBA vs Master’s | What’s the difference? 

An MBA is a generalist degree targeted at mid-career professionals. The curriculum covers the fundamentals of business such as strategy, data analytics, finance, leadership, and business ethics. A full-time MBA means students will take time out of their career to study. However, if this doesn’t suit you, students can also opt for part-time or online MBAs, which offer more flexibility. 

Specialized business masters degrees are targeted towards a specific career path. So if you have your sights set on a certain career and want to gain the skillset to break into it, this could be the best option for you. 

According to Emily Schatzle, director of admissions for MSc programs at University of Texas Austin McCombs School of Business, the decision between an MBA and a specialized master’s comes down to “where you are in your career and what you want to achieve”.

“If you're early in your career and want to build deep expertise in a specific area like finance, marketing, tech, or analytics, a specialized master's might be the right fit,” she explains.

The alternative to a specialized program is a Master in Management (MiM). This can be viewed as an MBA alternative as it covers similar topics, however MiM degrees are designed for early career professionals with little or no prior experience. 

To give you an idea of the range of business masters available, the University of Maryland’s Robert H. Smith School of Business offers eight specialized master’s programs. These include subjects such as information systems, marketing analytics, quantitative finance, and supply chain management. Some of these degrees are STEM-designated, meaning international students can stay and find work in the US without an H1-B visa. 

You could also study a dual degree MBA/MS program. At the University of Texas (UT) Dallas’ Naveen Jindal School of Management, students complete their full-time MBA and then continue their studies with a master’s degree. UT Dallas offers master’s degrees in Energy Management, Innovation & Entrepreneurship, Marketing, or Healthcare Leadership & Management, among others. 

Full-Time MBA alternatives 

While the full-time MBA remains the most popular choice for prospective business school students globally, it isn’t a viable option for everyone. In the US, a full-time MBA typically takes two years to complete—a significant amount of time to take out of your career. In Europe however, the typical length of a full-time MBA is one year. 

Over the past decade, and particularly during the Covid pandemic, business schools have refreshed their offerings to include more accessible formats such as part-time or online degrees. 

For example, alongside a traditional full-time MBA program, the University of Southern California (USC) Marshall School of Business offers an online MBA. The 21-month USC Online MBA is designed for the digital era professional, with the curriculum covering how to manage remote employees and how to communicate internationally, as well as data analytics and social media. The program combines self-paced coursework with real-time virtual class sessions. 

Meanwhile, the University of Washington Foster School of Business offers an Evening MBA. Students can fit the program around their work and personal life by studying in-person classes in the evenings a few times a week. 

There are many benefits of pursuing such MBA alternatives, namely the flexibility and the opportunity cost of not having to take time out of your career to study. 

Similarly, there is also a wealth of online business master’s degrees available if you’re at an earlier stage in your career or seeking more specialized study. 

For example, WP Carey School of Business offers both a full-time Master in Business Analytics (MSBA) and an Online MSBA. Both programs last 16 months., While the full-time MSBA costs around $78,500, the Online MSBA costs considerably less at around $48,000. 

If cost is a concern, it’s worth bearing in mind that studying a master’s online also means not having to pay additional costs for accommodation and travel. 

Whether you study full-time or online, you will leave business school with the same degree, so make sure you take the time to really assess which is the best option for you. 

MBA vs master’s career and salary prospects 

Making the decision to go to business school can fundamentally change the course of your career—no matter which stage you currently find yourself in. 

As business master’s degrees tend to be for earlier career professionals, when you graduate it’s likely you will land an entry level role. However, as you’ll be equipped with the skillset and business knowledge to hit the ground running, you’re more likely to progress quickly.

Meanwhile, MBA graduates are more likely to land managerial or mid to senior-level positions. The three most common industries for MBA graduates are finance, consulting, and tech.

It’s important to remember that if you study an MBA or business master’s, you’ll also have access to expert career support at your business school. “Our career services team works with students from day one,” says Emily Schatzle of Texas McCombs.

“You're not waiting until your final semester to think about jobs—career planning is integrated throughout the program. We have dedicated career coaches, industry-specific programming, and a strong alumni network that's genuinely invested in helping current students.”

And hiring plans for both MBAs and business masters remain optimistic. According to the 2025 GMAC Corporate Recruiters Survey, 90% of employers had plans to hire MBA graduates in 2025. For business masters graduates, that figure ranged from 75 to 80%. 

Meanwhile, the projected starting salary for management, finance, and business analytics graduates was $90k in 2025, according to the same GMAC survey. Graduates of programs in data analytics, marketing, and accounting could expect to earn up to $100k, while the projected salary for MBA grads in 2025 was $125k. 

Ruslan Shukurov is currently studying the Master in Professional Accounting at Texas McCombs School of Business. He believes the specialized skills he’s learning will be invaluable for his career.

“The technical side has been huge, as I'm learning skills like financial statement analysis, consolidations, advanced accounting, valuation modeling that I know will be directly useful in my career.”

When choosing a degree, it’s important to do your research to find a program that fits with your level of experience and your goals. Download our Which Business Master’s Guide to dive further into the range of options available to you, and discover the top business schools.