Quiz: Which Type of MBA Is Right for Me?
When it comes to MBA programs, you have a lot of options. Which type of MBA is right for you? Take our quiz to help you choose.
What Are the Different Types of Business Degrees?
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With so many different types of business degrees to choose from, how do you figure out the right option for you?
You might be an early career professional looking to get your foot on the corporate ladder, or an executive hoping to make an extra impact within your organization. Either way, there is a business master’s out there for you.
Here are the most popular types of business degrees.
MBA Programs
Of all the different business degrees, an MBA—which stands for Master of Business Administration—is the most popular.
It’s a generalist degree designed to teach you all the fundamentals of business, rather than focusing on one specific area. Core modules cover topics such as marketing, finance, accounting, leadership, and strategy. Most programs also offer electives in more niche topics, so you can specialize in potential career routes or areas of specific interest to you.
MBA programs typically require applicants to have at least two years of work experience to apply, although students tend to have between three and five. This is so that every candidate has plenty to bring to class discussions and case studies, but also so they already have a solid knowledge of how a real-life business operates.
An MBA can take your career in many different directions, but some of the most popular industries for graduates have traditionally been consulting, finance, and tech. Many MBA alumni also use the broad business knowledge they’ve developed to start a company of their own.
Regardless of which industry they end up working in, MBA grads are likely to be well-paid. For instance, the 2024 GMAC Corporate Recruiters Survey found that the average MBA salary was $120,000. At some of the top schools in the world, this can be as high as $200,000 including bonuses.
You can study an MBA in a few different formats.
Business Master’s
Business masters come either in the form of pre-experience degrees, aimed at recent bachelor’s graduates, or post-experience degrees, for candidates with a few years of work experience.
By studying a master’s degree in business, you can kick-start your career and access a broader range of opportunities than you could with a bachelor’s. Most master’s programs are one year long and delivered full-time. However, you may also find part-time options available allowing you to study over a longer period of time.Here are some of the most popular types of business masters:
- Master of Management
- Master of Finance
- Master of Business Analytics
- Master of Accounting
- Master of Marketing
In just a few short questions get expert advice on which pre-experience business master's degree is the right fit for you and your goals.
Quiz: Which Business Master's Degree is Right for Me?
Research Based Business Degrees
Whereas most MBA and business masters degrees are targeted at early-to-mid career professionals (with Executive MBAs being the exception) there are also some research-based programs available that target more experienced professionals.
Doctor of Business Administration (DBA)
The DBA is a professional doctorate that involves conducting original research that adds to the knowledge pool of global business.
The DBA focuses on real-world organizational and business problems, and requires you to do extensive research to examine and solve those issues.
The program can prepare you for a career in business or it could lead down an academic route, where you become a business researcher or lecturer.
Business PhD Degrees
A business PhD is an academic doctorate that, similar to a DBA, requires you to conduct in-depth research on original topics.
Your PhD research will focus more on developing theories, addressing a gap between theories, or filling a gap in the general body of business knowledge. Your research goal might be to change the way people think about business and policy.
Business PhD candidates are typically focused on pursuing a faculty career in higher education or as a researcher.
Non-Degree Options
If you’re thinking about pursuing graduate management education, you don’t have to commit to a full degree. That’s because there are several non-degree options out there. The first of these are certificates.
Instead of committing to a full-time program, certificates give you the chance to study one specific area of business in a shortened format. For instance, Harvard Business School Online offers a range of certificates in everything from business leadership to generative AI.
There are also executive education programs available. These are targeted at executives and C-suite level professionals who want to develop their knowledge in specific areas of business. They’re generally a little longer and more thorough than certificates.
Wherever you are in your career, there’s a business degree out there that’ll help you achieve your goals.
