For the past few weeks, I’ve been focused almost exclusively on undergrads. After all, it makes sense; November 1 was the Early Decision deadline, October 15 was Oxbridge’s deadline, and October 22 was Cambridge’s not-so-secret-but-still-surprising SAQ deadline.
Still, that’s no excuse.
The fact is that while I like to say that undergraduate education makes sense for the right student, I’m really hard pressed to think of a student who doesn’t benefit from a Masters degree abroad, or even a PhD.
Ok, fine. Nurses. Teachers seeking certification. Lawyers wanting to practice in certain states. Doctors who want to specialize in dermatology. And anyone getting fully funded.
But beyond them, there is no reason to at least look overseas, and for no one is that as true as it is for students wanting to study business. After all, business is global (at least that’s what people have been saying for a few decades), and an international degree is a great way to set yourself apart.
However, studying business can be confusing. Unlike in the US, where there’s the MBA then a few degrees like a Masters of Accounting or Masters of Finance, there are dozens of business degrees abroad.
But how do you know what to choose?
Keep reading.
The MBA
If one thing has standardized in the past few years, it’s that the MBA is almost always the terminal degree for those earning it. Typically, someone applies for it after a couple of years of work experience, and the big advantage is that it comes with plenty of networking opportunities, as well as aggressive hiring from top companies.
When it comes to top MBA programs, there isn’t a big advantage to applying abroad (more on that in a minute). After all, London Business School, Oxford Said, Cambridge Judge, and LSE are all internationally known places whose graduates do business on a truly global level.
But what about the step just below them? Other parts of the University of London, HEC Paris, IE University and ESADE University in Spain, and others routinely want to attract American students. Therefore, applying there often can be a route to a more highly ranked business school.
Also, think of your career goals. If you want to live in London, then there’s little point in getting an MBA from UVA instead of UCL.
Typically, MBAs will require the GMAT or GRE, though this is starting to shift.
The MSc
So if the MBA is practically the same on both sides of the Atlantic (and Pacific, for that matter), what is the MSc? In short, think of it as a chance to spend a year adding a major, a new university (and alumni network), and a new country to your CV.
The best part of this is that it’s quite common to go straight from undergrad into one of these programs. This makes it an incredible option for those students who leaned a bit too far into the liberal arts (though there is nothing wrong with that!) or those who want to change their focus from one business discipline to another.
These MScs (and they can be called by any number of names) typically specialize in one area of business, like marketing or supply chain management, and are ways to quickly give their graduates a significant competitive advantage in the field.
It’s not at all uncommon to see students ‘stack’ qualifications across related fields, like an undergraduate degree in marketing then a MSc in advertising.
Which is Right for You?
While everyone is different, there are two crucial questions to ask when figuring out which route you should take. First, how much work experience do you have? If you have two or more years of solid, professional work experience, consider an MBA. It may take a little longer, but it will cover all major aspects of understanding business from a macro level, not just a single silo.
If you don’t have a lot of relevant work experience, do the MSc. It will let you quickly gain expertise in a relevant area, and introduce you to employers who are more than happy to take on a relative novice.
Second, how do you see your career playing out? If you’re happy with your network, your job role, and where your career will likely end up, then do the MSc. It will take less time, typically only a year, and let you specialize while earning a valuable qualification. On the other hand, if you’re looking to expand your expertise and see yourself ultimately moving into executive leadership, then take the MBA. Yes, it’s longer and more expensive, but ultimately, it will be worth it.
No matter which route you take, we’re happy to help you achieve your goals! Feel free to reach out to schedule a free consultation on how we can help you improve your career with An Education Abroad.