Experts recommended exploring the idea of further reducing working hours to see if it brings even more benefits
Key differences
Any discussion of the differences between the two qualifications cannot be entirely separated from the current economic and financial crisis. With close to 100,000 MBA graduates a year leaving US business schools and universities alone, 40 per cent of whom traditionally enter finance or finance-related careers, the undeniable link between the MBA degree and the financial turmoil of the last 12-24 months has caused many to question both the validity and position of the MBA qualification in today's globalised education system.
Henry Mintzberg, Professor of Management Studies at Canada's McGill University, is perhaps the most vocal of the recent critics of the MBA qualification.
"To claim that you're training people who are not managers to be managers is a sham, pure and simple, it's a sham. You can't do it. You give completely the wrong impression and you send them out with an enormous amount of hubris which is, 'I can manage anything, even though I've never managed anything'."
The candidate
The first area to examine is undoubtedly that of the candidate's experience before they apply. The intention of both degrees is different - MBAs seek to develop appropriate skills on a foundation of a candidate's life or professional experience, while the majority of master's degrees build on the academic background of the student.
The programme
The second most significant difference between the two graduate-level degrees is that of teaching style. While there have been tremendous developments in the way in which all university programmes are taught, particularly with the introduction of new online learning technologies, MBA and master's programmes enjoy entirely different learning styles.
Specialisations
Perhaps one of the best illustrations of the difference between an MBA and a Masters-level qualification can be seen in a specialised area such as human resource and personnel management. Where the generalised approach common in many MBA programmes is sufficient to equip a student for a range of business-related situations, the more specialised nature of a master's qualification provides the candidate with the precise academic and theoretical framework to tackle a specific area.
Employer perspectives
The differences in such a specialised area as human resources or personnel management are also crucial to employers. Gary Garber, an HR professional in a Chicago-based finance company, is clear on the differences between the two qualifications. "An MBA has a tonne of general business courses and only a few HR ones. As a graduate of Cornell's Masters in Industrial and Labour Relations (MILR), my experience is the opposite - the MILR has a tonne of HR courses and only a few general business ones.
The right choice for you
While the demand for MBA and master's programmes continue to grow, there continues to be a healthy debate over the relative merits and disadvantages of both degrees. Your choice of the programme very much depends on two critical factors. First, your ambitions: If you are clear on the type of career or specialism you hope to develop in your future career, then the advantages of a master's degree often outweigh the more generic, business-focused approach of many MBA curricula.
Join the QS World MBA & Grad School Tour in Dubai on September 22 and explore an array of MBA and master's programmes from top business schools and universities from around the world. Meet face to face with admissions directors from LBS, INSEAD, IE, Toronto-Rotman, Arizona State, Warwick, Manchester, CKGSB, Bocconi, King's, EDHEC, SKEMA, HEC-Paris, Imperial, NYU and many more. Attend informative admissions seminars, LinkedIn and GMAC Workshops and gain access to a pool of scholarships worth $7 million.
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