MBA vs MSc - Which Are Best and Why?
After completing your graduation in any field, you will immediately get worried about your master's degree. When it comes to pursuing a master's, you will get a wide variety of options. If you are interested in pursuing management degree, an MBA is among the sought-after programme mostly picked by management aspirants. On the other hand, if you are looking to enter the science field, an MSc is one of the most picked options among students. Every year thousands of students opt for either MBA courses or MSc courses to continue their postgraduate studies. Choosing between these two master's programmes can be tricky. This is where this article discusses the differences between MBA and MSc courses.
Through this article, you will understand MBA or MSc, which is better, know about the MBA full form, and MSc full form, and be able to make a strategic decision on MBA or MSc which is better in India. So, let us get started.
Also Read: Top 10 High-Paying Management Courses Other Than MBA
What is an MBA?
The MBA full form is Master of Business Administration, which is a 2-year masters-level academic programme. An MBA offers vast career options for students in the field of management. There are various types of MBA courses offered by universities in India and abroad. Apart from multiple streams, the types of MBA include a fast-track MBA or executive MBA that can be done in one year and is suitable for working professionals. Specialised MBA, where you choose their specialisation from the start of your master's programme, and generic MBA, which allows you to select a field in your program's second year.
Why Choose an MBA?
With changing market needs, business and management education is booming with leaps and bounds. In the past few years, the demand for MBA professions increased tremendously. So, if you want to pursue a master's programme, an MBA is for you. With the proliferation of online education, you can also opt for an online MBA, executive MBA, and a standard MBA degree. In all these options, you can choose the specialisation of your choice.
Online MBA Course offers a wide variety of specialisation options. Some of the most trending online MBA specialisations include marketing, finance, and human resource. The career possibilities after completing an MBA in any of these streams are endless.
Below, we have discussed MBA course details that can help you choose the best career.
Also Read: Top 10 Careers Options After Completing MBA Finance Course
Benefits of Choosing an MBA
After completing your MBA, many new job positions will be open to you
Your career will not be restricted to any particular industry
Your potential earning increases along with your professional skills
MBA Entrance Examinations
If you want to pursue the best MBA course in India, you need to clear a national, state, or university-level entrance examination. Some of the popular MBA entrance examinations are mentioned below.
CMAT – Common Management Admission Test
NMAT - NarseeMonjee Management Aptitude Test
XAT – Xaviers Admission Test
SNAP – Symbiosis National Aptitude Test
CAT – Common Entrance Test
MAT – Management Aptitude Test
MAHCET – Maharashtra Common Entrance Test
IIFT – MBA Entrance Test
ATMA - AIMS Test for Management Admissions
IBSAT - ICFAI Business School Aptitude Test
Top MBA Colleges in India
Many top colleges and institutes in India offer the best MBA courses that aspiring students can pursue after meeting all the eligibility norms of the college. The table below shows some of the top colleges for MBA in India.
| IIM Lucknow | XLRI Xavier School of Management |
| DMS IIT Delhi | ISB Hyderabad |
| MDI Gurgaon | FMS New Delhi Faculty of Management Studies |
Placement Opportunities
An MBA graduate can get a job in some of the country's most prominent institutions after MBA courses. Popular fields where MBA graduates can pursue their careers are banking and finance, investment banking, management consulting, data analysis, private equity, e-commerce, IT, and FMCG, among others.
Employment Roles
After completing MBA courses, you can get a job as an operations manager, senior business analyst, human resource generalist, marketing manager, project manager, human resource manager, business analyst, regional sales manager, relationship manager, and others. The employment roles will depend on the specialisation you chose in your MBA program.
Average salary offered
The average salary offered to an MBA graduate may vary depending on factors such as qualifications, experience, skills, industry, employer, job type, and location. The average MBA graduate salary can be anywhere between Rs. 5 lakhs to Rs. 7 lakhs per annum. The pay may also differ based on the market condition.
Also Read: How To Get Admission In Best Business and Management Courses In India
What is an MSc?
The MSc full form is Master of Science, which is a master's degree in the field of science. The field attracts students who are keen to master a particular area. You can find numerous specialisations in the MSc course. It is one of those master's programmes that can open a gateway for almost every field. You can study MSc mathematics, physics, microbiology, forensic science, information technology, botany, clinical research, and others.
Why Choose MSc?
If you want to get involved in the practice of science and its technical implementation, MSc has a lot to offer you. The scope of M.Sc Mathematics, chemistry, physics, biotechnology, and Microbiology is higher than any other master's degree. After completing your MSc, you can enter the field of research and innovation.
Benefits of Choosing MSc
You can gain in-depth knowledge about the stream you choose
You can get job opportunities in the top research institutions and colleges
Gain greater access to an in-depth understanding of your specialisation
MSc Entrance Examination
If you want to pursue MSc courses from a reputed college, you need to clear an entrance examination. We have mentioned below some of the popular entrance examinations conducted for the MSc programme.
All India Institute of Medical Sciences [AIIMS] Entrance Exam
Annamalai University Entrance Exam
Calicut University Entrance Exam
Indian Institute of Technology – Joint Admission Test [IIT-JAM]
Indian School of Mines Entrance Exam
Jadavpur University Entrance Exam
Mahatma Gandhi University PG Admission Test
Osmania University Entrance Exam
Tamilnadu Open University [TNOU] Entrance Exam
Top MSc Colleges in India
Placement Opportunities
An MSc holder can get a job in some of the most prominent institutions in the country. Top recruiters that hire MSc graduates include NASA, General Electric Co (GE), Hudson Space Research, Cisco Systems Inc, Dr. Reddy's Laboratories Ltd, Biocon, Intel Corporation, Genpact, Dell, and others.
Employment Roles
After completing MSc courses, you can get a job as a Data Scientist, Chemist, Clinical Research Specialist, Research Scientist, Biology Researcher, Laboratory Technician, Geneticist, Lecturer, Marine Geologist, Science Adviser, Oceanographer, and others. The employment roles will depend on the specialisation you chose in your MSc course.
Average Salary Offered
The average salary offered to an MSc graduate may vary depending on factors such as qualifications, industry, job type, employer, and job location. The average salary can be anywhere between Rs. 7.95 lakhs to Rs. 9 lakhs p.a. The pay can also differ based on the market condition and your expertise level.
Also Read: Highest paying jobs for freshers in India
MBA vs. MSc, which is better?
As we discussed the basics of both MBA and MSc, career possibilities, and MBA vs MSc salary, the question 'MBA or MSc, which is better in India' remains the same. If you want to make a career in business or do not want to limit yourself to a particular field, you should choose an MBA course. An MBA degree will give you industry exposure and knowledge. Conversely, if you are interested in gaining a thorough knowledge of the science field, you can choose the MSc course.
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Frequently Asked Questions (FAQs)
In the MA or MSc programs, the MBA emphasizes on the realistic training aspect, in conjunction with practical market experience, which also involves pragmatic decisions on the actual market landscape and leadership projects applied on the real market.
The key difference between MBA and PGDM is that an MBA is a certificate and is provided by universities, whereas a PGDM is a postgraduate diploma provided by AICTE-approved institutes. Academic institutions are part of the University Grants Commission ( UGC) and therefore can award degrees such as MBA, also known as MMS in Mumbai.
Each B-school has its own fee structure. Overall, it may cost you about Rs 20,000 to Rs 15 lakhs or more to pursue a full-time MBA or PGDM programme.
After graduation, you can either choose a job or opt for further studies. If you want to develop your career as a discipline or field specialist, then you should pursue a postgraduate degree in this field, but if you are more interested in ascending the corporate ladder on the management track, then MBA is a good option.
Both choices are open to you, however, it is recommended that you work for a few years after graduation and then opt for an MBA. Work experience would give you a clearer understanding of the work scenario and which MBA specialisation you can choose to further improve your career prospects.
The MBA in information technology is a good hybrid of different very dynamic aspects of any business: managerial expertise and information technology. Almost every national and international organisation always looks for experienced and skilled professionals to help them cope with the competitive marketplace.
You need to take the management entrance test approved by the B-Schools that you are targeting for pursue the MBA or PGDM programme. Some of the popular tests are CAT, MAT, and XAT.
The admission interview is your chance to shine in front of your potential instructors and company mentors. Your interviewer is generally interested in finding out more about your long-term goals and how to make good use of the information gained during the MBA programme.
Depending on the selected course of study, you can earn a master of business administration in 18 - 35 months. Full-time study options also include-site lectures, workshops, training during 3 to 6 courses of study. Optimistic candidates could also choose an accelerated learning path in MBA.
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