This is second article on MS vs MBA in USA. If you have not read, please read the first article : Should I apply for MS or MBA in US – Difference ? It talks about differences between MS vs MBA and what each of the degrees focus on. Now, in this article, we will look at some of the funding, fee and other aspects.
Fees MBA vs MS ? Which is cheap ? State University Vs Private Schools
MS tuition fee is typically much cheaper than MBA. Business schools have their own course fee structure. Also, in terms of fees, US State schools fee is always cheaper than Private Schools. For instance, MBA at private school like University of Chicago will cost you ONLY the tuition for NINE MONTHS is $73,440 as of year 2020 and MBA at state school like University of Wisconsin will cost you $42,700 for a 9 months for the year 2020. Also, fees at University of Houston Masters program for MBA is around $1375 per credit in 2020, that comes to $11,961 per semester if you take 9 credits. Not going into specifics, if you look at MS fees as well, it is cheaper to study in state schools. The summary is that state schools always have less fee as they are state funded. For more details, read Cost of MS / MBA in US – Apply for Cheaper Schools
Funding for MBA and MS ?
Funding is a big thing for students and most common types of funding as I explained are in form of TA, RA and GA. Check the post about what are TA, GA and RA for more info if you do not know with funding info. Let’s think logically first, MS is more technical and research oriented, logically speaking if the University has more research funding then, there is more funding for MS. On the other hand, MBA, it is not tied very much to research, where do funds come from ? Only source for MBA funding is Fellowships, scholarships or TAs for Undergrad Business students.
If you notice, for MBA, research part is almost not there unless you are in PhD. Guess what, if you are MBA and applying for funding in Business school, MS people of Marketing or Finance are competition to you for that too. So, your option is to work in other departments or no funding at all. But for MS, you have many options like working as RA, TA or GA in your department or other department based on your background. Not only logically, in reality too, there is less funding for MBA than MS due to the research focus and other related aspects. You may get in-state tuition in state universities if you stay long enough like year or so and pay taxes in that states by working on a work visa, but in private schools forget about funding…
Confused ? MS or MBA Decision ?
I know most of you want to be managers and entrepreneurs in future by jumping into MBA right after B.Tech, B.A or B.Com… Let me tell you the truth folks, You will learn very little if you go to MBA without two to three years of work experience. You have to work in an organization setting to fully comprehend and appreciate the full potential of MBA. For this reason, most of the business schools have requirement of 3 to 5 years of work experience as a major factor.
Think about this, “if you were never a team member, how will you understand the team member’s problems and their perspective if you were never a team member and directly have become a manager”. So, start at the base and then climb up ! My recommendation is if you are starting your career, then do not go for MBA, work and then go. Read MBA after B.tech or With Work Experience ?. As of MS is concerned, as I said in previous posts there are many types of students who would like to come to US for education and some for Job only. Depending on your situation, you may pick one of the below.
- Typically, MS is done for anyone with career path of PhD or research.
- If you want to do PhD some day and be professor, then MS and PhD integrated program.
- If you worked for two years, and have money to support your MBA financially, then MBA
- If you are not sure what you want to do, then take time to think about what you really like and where you see yourself in next 10 years and take a decision on what makes sense for your career path.
Overall, it is up to your passion on where you want to be in next 10 years, try to do something that will help you get there…it is your decision, plan well and go for your passion… I am not trying to discourage anyone to do MBA right after B.Tech, but just telling you the facts I have learnt. Good Luck ! Make an informed decision….It is your future !
What are your thoughts ? Anything to add that I have missed ?