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Should You Chose MS program over MBA from US? A perspective
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05 Aug 2013, 01:08
This is one of the most common questions I am asked from students applying to schools in US. This might sound obvious to natives but this is a real doubt among students from developing economies like India, trying to make it to the Ivy League US schools. Courses such as MS Finance sound very similar to MBA Finance and further compound the confusion. Let us try look through it.
What is MS ? How is it Different from MBA?
MS as it says is ‘Master of Sciences’. An MS program is primarily focused on the advanced topics of a specific subject. MS is more technical in nature. It could be a MS program in Computer Science, Economics, Finance etc. Typically, to get into MS program, it is ideal to have same background in Bachelors. So for instance if you are a B. Tech in Computer Science, then it is advisable to go for MS in Computer Science. Similarly, a B. Com or B. A. graduate can go for MS in Accounting or Finance. However, you can go cross-discipline in most cases. In that case you would have to do lot of foundation classes to come to speed. So if you are a B. Tech evaluating a MS in Finance, the option is still open.
MBA is a different animal. ‘Master of Business Administration’ is about learning business and administration. It is not technical in nature. Most of the courses in an MBA will only be foundation courses. The program covers a range of subjects to help you understand various aspects of business. Typically, 2/3rd of the classes are foundation courses such as Corporate Finance , Organization behavior, IT for Managers, Accounting, Economics, Marketing Strategy, Operations strategy, Negotiation, etc. The other 1/3rd of the classes, which do go to some depth, are typically elective. Hence you can choose between advance courses in Marketing, Finance, IT, Accounting etc., which will be your area of specialization. Contrast this to an MS where almost all your courses will be associated to your subject. Your subjects are not specifically designed to make you better administrators or business professional.
What is MS good for?
An MS is good for doing further research (PhD) on the subject or to work in a technical position in your profession. You can be a Database Architect, Marketing Research Director, Advance Tax & valuation expert, etc. It will give you an edge in the technical area you are working. Alternatively, many people who wish to become professors choose this path so that they can do PhD and then become a professor. For some it could be only for the love the subject and to understand it at an advanced level.
Fee & Funding
MS fee is typically much cheaper than MBA fee. This is partly for the fact that MBA programs are for experienced candidates looking for career advancement and have the capacity to pay more. Also, there is typically very little financial assistance from the government as MBA programs are not considered to be adding much to academic advancement. Therefore, they tend to be one of the most expensive academic programs. This is not true for most MS programs as they are more technical and research oriented. Hence, they are a lot more affordable.
Also, for the same reasons mentioned above there are many Teaching Assistant (TA) and Research Assistant (RA) positions available for MS programs. The scholarship funds available with MS programs also tend to be much higher than for MBA programs. Hence, an MS program will always be easier on your pocket, at least in the short run.
Experience Requirements?
You can jump to your MS programs right after your B. Tech, B. Com etc. It does not require you to have a prior work experience. That is a major motivation for a number of people to choose an MS over MBA. If you are also one of them then my word of caution to you is this – Do not go for an MS program if you are sure you want a Business or administrative profile. Your MS education does not prepare you for a business profile. It is for a reason that MBA programs ask for a 3 to 5 yrs experience. If you do not have the experience, you will not be able to appreciate what is taught there. Hence, for MBA enthusiasts, please build it up from the base. Work for a few years and then go for your MBA. If you are interested in going deep in a particular subject, MS is your calling.
In conclusion:
If your main motivation is to go to US, just for a good job, go for MS.
If you want to do PhD some day and be a professor, or pick a technical profile, again MS is fine.
If you worked for few years, and have financial support, then MBA.
If you have no experience, but want to go for an administrative/business role only, wait! Do an MBA after few years of good professional experience.
Hope the post is useful. All the best!
Anshul Gupta