MBA and MSC Finance are two most popular masters programs in USA.The two courses often confuse professionals who wish to enroll for masters program, but with a lot of research, you would determine the appropriate program for you.
The first thing you should note is that MBA is for individuals who are not so good in mathematics, statistics and actuarial science. In this course, you have several options of specializing in areas which touch less on analytical concepts.
The most common and best specializations for people who are not good in, mathematics include strategic management, human resources, and sales & marketing.
Even though MBA allows you to specialize in areas which don’t require mathematics, you can also specialize in areas covering analytical knowledge. These areas include finance, accounting, insurance and purchasing & supplies.
MSC Finance on the other hand is ideal for people who want to specialize in finance and investment. In this masters course, you are only allowed to specialize in finance & accounting, and actuarial &insurance..the course does not cover soft units like marketing.
Who should study MBA or MSC Finance in USA
MBS is a masters program for people from all degree majors: Even if you your area of specialization was sociology, you will be allowed to pursue MBA, even medical doctors pursue MBA to sharpen their management skills.
MSF Finance is ideal for professionals with specialization in Finance, Statistics, Actuarial Science, Engineering, Insurance, Economics, Mathematics and Real Estate. This course is a bit tough compared to MBA,which is why they restrict people without mathematics background from enrolling for it.
Though MBA is less intensive compared to MSC Finance, graduates from the program end up earning more than MSC Finance Graduates. This is because MBA graduates are recruited as managers while MSC professionals are recruited as specialists-nature dictates that your seniors earn more than you regardless of the number of degrees you possess. In short, when it comes to salaries, MBA graduates earn more than MSF Finance graduates in USA.
To conclude,it’s wise to pursue a course which brings more food to the table,and in this case MBA is the best course for you.But it’s also wise to pursue Msc Finance if you possess mathematics related courses-money is not everything-more so if you possess CFA.