Learn About the Many Master's in Business Degrees
Learn about Master's in Business degrees and how they can help you advance in your career.
By Sarah Stevenson
Everyone has heard about MBA degrees and how they can help kick-start your career in the business world. But what about other types of master's in business? Besides Master of Business Administration degrees, many graduate schools offer a plethora of specialty master's in business—degrees that enable you to work in specialized fields from accounting to real estate development, in traditional business sectors and beyond.
Fast Facts
- Compared to an MBA program, which can take up to three or four years to complete, a specialty master's in business usually takes an average of two years to finish. The program generally requires around 36 credits, most of them in the student's area of specialization or in related elective subjects.
- A graduate degree such as a master's in business builds on the expertise gained during the bachelor's degree program, making the degree holder competitive for more challenging, more prestigious and higher-paying positions. In addition to regular coursework, a master's in business may also require independent study, internships or preparation for tests such as the CPA exam.
A Selection of Specialty Master's in Business
- Master's in Business in Accounting: MAcc: A Master's in Accounting (MAcc) consists of specialized accounting coursework that will prepare you for a management-level position in the field, as well as courses geared toward preparation for the CPA exam or the Certified Management Accountant (CMA) exam. Public and management accounting are only two of the possible careers that a master's in business can prepare you for—accountants can also work for the government, for non-profits, for educational institutions, or even for law enforcement as forensic accountants.
- Master's in Business in Taxation: A master's in business in taxation is a Master of Science degree that usually prepares the holder for a career as a tax accountant or tax adviser. More experienced taxation degree holders can even rise to six-figure positions such as tax manager or tax director.
- Master's in Business in Finance: If you're interested in working in the financial services industry, either in banking or in financial planning and analysis, the best preparation is a master's in business that specializes in finance. In this degree program, students learn various skills and concepts related to finance, including international and corporate finance, investment management, and financial strategy.
- Master's in Business in Human Resources: Human resources careers can demand a highly specialized master's in business: the master's in human resource management. Rather than focusing on general business management skills like an MBA program would, a master's in business in human resource management also focuses on HR issues such as organizational behavior, compensation, recruitment and employment law.
- Master's in Business in Marketing: A master's in business in marketing is usually a Master of Science degree, either with a specific concentration like international marketing or a more general approach such as integrated marketing communications. Degree holders are prepared for high-level marketing positions across a number of different industries. Advertising, product management, public relations, and non-profit marketing are just a few of the careers possible with a master's in business in marketing.
- Master's in Business in Health Care Administration: Senior or executive-level positions in health care administration, from hospitals to pharmaceutical companies to community agencies, generally require a highly specialized master's in business, whether it's a Master's in Health Administration (MHA), a Master of Public Administration (MPA), or a Master of Public Health (MPH). Managers at all levels in the field of health care are critical to making sure the delivery of health care is planned and coordinated smoothly.
- Master's in Business in Operations Management: With a master's in business in operations management, you'll be specifically trained in the planning and coordination of a company's operations, including facilities, inventory and distribution, and logistics and scheduling. An operations manager needs to be expert at managing both projects and personnel, and jobs are often highly competitive, making a master's in business a must.
Business Career Salaries
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Other Business Degree Types
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