If you’re in the business of doing business and have developed the professional skills needed to lead in the modern workforce, an advanced degree may be a good next step.
Advancing your career will give you a better opportunity to become a leader at your company, or to make a move to a management position at another business.
Two of the most common graduate degrees for those in the corporate world are an MBA (Master of Business Administration), and a Masters of Management Leadership. Both have plenty more “pros” than “cons” when compared to not pursuing either.
They do, however, differ, and here is a quick guide to see which would suit you better based on your goals.
Master of Business Administration (MBA)
This graduate degree is for people looking to further their own knowledge of things that are directly related to business such as finance, marketing, and entrepreneurship.
MBA students also gain plenty of knowledge related to management, but generally as it pertains to those aforementioned sects of finance, marketing, etc.
MBA students explore an almost endless list of scenarios and learn why approaching certain issues one way may be more beneficial to the team than approaching different issues another way.
It is definitely the more business-related of the two options, but that’s not to say plenty of business knowledge isn’t learned by students who pursue a Masters in Management Leadership.
Masters in Management Leadership
A good way to describe this degree would be to say it is a degree that allows graduates to teach others how to lead and understand that different people will find success in different ways.
For individuals who may not be set on staying in the corporate world their entire lives, this degree is a bit more useful outside of the walls of corporate America.
However, that’s not to say that an MBA would be scoffed at if seen on a resume by someone applying for a management job outside of the suit-and-tie world.
As the MBA focuses primarily on the science behind successful business practices, a Masters in Management Leadership focuses a bit more on the psychological aspects of making sure a team is prepared to work to their highest potential, even if the manager isn’t overly confident in their understanding of a given industry.
Both degrees will set you up to be a better leader, and pursuing one over the other shouldn’t close too many doors, but they do, indeed, look different to employers.
In a nutshell, an MBA would better suit those individuals who are looking to lead by knowing everything and anything about the subject matter that those working under them will be dealing with on a daily basis.
A Masters of Management Leadership, on the other hand, would best suit those individuals who want to know everything about the psychological aspects of leading a team.
In other words, these individuals may not know every part of every job of those working under them, but they are experts in planning, managing, and ensuring all employees are happy and empowered to do their best work.