Should You Earn An MS or an MBA in Business Analytics?
So You Want an Advanced Degree in Business Analytics. Should You Earn An MS or an MBA?
As a field, analytics is growing exponentially, and analytics-savvy professionals are more in-demand than ever. As businesses take advantage of big data and artificial intelligence, they need people in positions such as business analyst or operations research analyst. These positions understand the intricacies of analytics and can help businesses take full advantage of the latest advancements.
The business analytics market is projected to grow to nearly 97.3 billion USD by 2025, which means the job market should also expand. But how do you make yourself stand out in such a growing industry? Education is one way forward, but determining what educational path you should take may be confusing.
Two of the more common advanced degrees held by those in business analyst fields are a Masters of Science in Business Analytics or a Masters of Business Administration in Business Analytics. While you cover similar subjects in these programs, there are some important differences that you should be aware of before you enroll.
What you’ll learn in an MS in Business Analytics program
In an MS in Business Analytics degree program, the focus is primarily on the technical aspect of data analytics. Typically, classes will be about big data analytics, analytics and visualization, decision risk modeling, and more.
Because the program is an advanced degree focused solely on business analytics, you’ll graduate with an in-depth knowledge of business analytics and how to develop and use an analytics program in a business.
What you’ll learn in an MBA in Business Analytics program
Unlike an MS in Business Analytics, an MBA in Business Analytics pairs classes on business analytics with business administration-based courses that teach you how to succeed in a business-based environment. These courses range from Operations and Supply Change Management to Organizational Behavior while also offering business analytics courses.
How to choose a program that is right for you
While these two degrees have some major differences, they both have unique benefits and will be the right choice for different people.
For example, an MS in Business Analytics is a great degree for someone brand new to data and business analytics as it helps build the foundational knowledge needed to be successful. If your background and work experience are in a different field, this degree will give you the tools you need to start your career in business analytics.
An MS in Business Analytics is also a good choice for someone who isn’t necessarily interested in moving into upper management positions as there aren’t any upper-management specific courses available to take.
If you already have knowledge and experience in business analytics, an MBA in business analytics will be beneficial because it teaches you about more than just business analytics and how those business analytics skills can help in a larger business context. You’ll also learn about other business functions and be more prepared to analyze and make recommendations for those functions.
An MBA in Business Analytics is also a smart choice for people who are interested in moving into management or director positions. You’ll learn how to manage and work with different departments, and you’ll be prepared to lead a team of analysts to implement changes at a managerial level.
Neither of these degrees are better or worse than the other. They simply have different benefits for different people.
Before you decide on which degree to pursue, look at your work experience and your hopes for your future career, and research the programs you’re interested in to see what they have to offer and whether they will help you reach your goals.
How to get started on your path to a career in business analytics
Whatever path you decide to take towards your career in business analytics, Montclair State University has a program that will help you build the career you want.
We construct all of our programs with our students in mind and have specifically developed our advanced degrees in business analytics to equip our students with the tools they need to be successful in the rapidly changing business world.
Visit our website today to learn more about our Masters of Science in Business Analytics or our Masters of Business Administration in Business Analytics and take the first step towards your future today.
Grow Your Earning Potential with an MBA Online
Earning potential for MBA-holders in the U.S. is on the rise. According to an annual survey by the Graduate Management Admission Council, the median starting salary for business school graduates hit a new high of $115,000 in 2019.
Of the responding companies in the same study, 56% plan to increase MBA starting salaries in 2019, which is a greater proportion than those who plan to increase starting salaries for bachelor’s and direct-from-industry hires. The trends are clear: earning your Master’s in Business Administration grows your earning potential.
Grow Your Network
You probably hear from your alumni association more than you think you should (“come to this soiree”, “donate to this cause”, “help us with this project”) but when is the last time you sought them out?
Alumni associations have excellent benefits when it comes to growing your network. When you drill down into a specialty like an MBA, those benefits become even more valuable. From attending events and meeting new people to browsing the online directory to make an introduction to someone in the field or company you’ve got your eye on, there is no doubt your alumni association can help you make the connection you need. As an added bonus, universities also have career services that can provide you with a variety of additional resources to help you reach your goals. At Montclair State, our alumni network has over 130,000 professionals in virtually every field, across all fifty states and spanning 75 countries; this exclusive Red Hawk community will be right at your fingertips.
In addition to the alumni association, your online MBA program will have a wide variety of students from all walks of life and professions. Each cohort has 20-30 students that you’ll have the opportunity to network and create lasting relationships with, both professionally and personally.
Take the Next Step
We know you’ve probably got a lot of questions around obtaining your MBA. To help you understand how to truly get the most value from your MBA program, we’ve put together an ebook to guide you through your MBA journey. Click here to download the ebook and start the journey toward checking “get my MBA” off your goals list.
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