MBA Alternatives

What are some alternative business master’s degrees to an MBA?

If you are hoping to get an advanced business degree or pursue a career in business, you are probably very familiar with a Master of Business Administration, the MBA. But, is that the only advanced degree for business? We are here to share some alternatives to the traditional MBA.

As Harvard Business Review defines it, an MBA “is a graduate degree focused on building leadership skills and learning business principles.” MBAs are a very popular degree, and graduates can take many different career paths after obtaining one.

While an MBA may be the most popular or well-known advanced business degree, it’s certainly not the only option if you’re looking to uplevel your career in business.  

There are several viable alternative business master’s programs applicants may consider. Some alternative degrees include a Master in Management (MiM), Master of Finance (MFin), Master of Science in Business Analytics (MSBA), and Master of Environmental Management (MEM). Depending on your career goals, one of these programs may be a better fit for you than an MBA. 

What is an MiM?

An MiM is a generalist business degree that was originally established in Europe. An MiM is a beneficial degree for recent graduates who are looking to transition into a business career or who are trying to understand what specific expertise they’d like to pursue. Another positive about an MiM is that this degree generally has lower tuition than an MBA.  

What are some of the top schools offering an MiM?

• University of St. Gallen
• HEC Paris
• London Business School
• ESSEC Business School
• ESCP Europe

What is an MFin?

As its name suggests, an MFin is a concentrated degree in the field of finance. While many MBA programs offer a finance concentration, there are still some critical differences between these degrees. As Ohio University puts it, an “MBA will prepare students for the entire corporate landscape, as opposed to just the finance field.” Because the MFin is more concentrated, it generally requires less time than an MBA. If you are committed to the mastery of finance and find a shorter degree appealing, the MFin may be for you. 

What are some top schools offering an MFin?

• The University of Texas at Austin 
• Massachusetts Institute of Technology
• Columbia University
• Indiana University – Bloomington

What is an MSBA? 

Like an MFin, an MSBA is a very focused degree in comparison to an MBA. MSBA degrees focus heavily on analytics and big data. Candidates for MSBA programs should be interested in senior analytics careers or other data-heavy paths. MSBA programs can take one to two years to finish and generally provide opportunities to hone in on particular fields of interest with electives.

What are some of the top schools offering an MSBA?

• MIT Sloan
• UCLA Anderson School of Management
• ESSEC Business School
• The University of Texas at Austin
• Imperial College Business School 

What about an environmental and sustainability management master’s? 

This master’s has many names, like a Master of Environmental Management (MEM) or Master of Environmental Science and Management (MESM). Regardless of the name, this degree can help kick-start your career at the intersection of businesses and the environment. As Columbia University puts it, their MS in Sustainability Management is for students “who wish to pursue a career in management that takes into account both the environment and the economy.” These degrees typically take two years to complete. Some students pursue dual degrees like an MEM and MBA, but others choose to focus on the MEM and take business classes along the way. 

What are some of the top schools offering environmental and sustainability master’s?

• Yale University – Master of Environment Management 
• Georgetown University – Master of Science in Environmental Metrology & Policy 
• University of Michigan – Master of Science in Ecosystem Science and Management 
• University of California, Santa Barbara – Master of Environmental Science and Management 
• Duke University – Master of Environmental Management

Are you interested in pursuing an alternative business master’s?

While an MBA is undoubtedly the most well-known of business master’s degrees, it’s certainly not the only option for individuals interested in a business career. Whether you are looking for something more general or more specialized, exploring alternative business master’s degrees may be the right move for you. 

If you are looking to pursue one of the degrees mentioned in this article or any other business master’s, The Art of Applying® can help. Book a Quick Call to chat about your goals or questions with one of our consultants. We can help you gain admission to a top master’s program, whether it’s an alternative business master’s or any other degree.