When it comes to business degrees, there are two main types: the MBA and the BBA. But what exactly is the difference between these two popular degree programs? The difference can mean a pay difference of almost $40,000, which makes it essential to understand the benefits of an MBA over a BBA.
If you’re interested in understanding the difference between these two degrees, below are some of the main differences, benefits, pros, and cons of obtaining an MBA over a BBA. Consider using these guidelines when deciding on your next career move and when listing your education goals.
MBA Offers Concentrations
For starters, an MBA is a Master of Business Administration degree. This type of degree is typically geared toward those who want to pursue a career in upper-level management. MBAs have several concentrations that students can choose from. These concentrations can help them become experts in their field and highly sought after during interviews. Some of the most popular MBA concentrations that students can choose include:
- Marketing: Marketing is essential for all businesses. Without marketing, businesses would need to rely on word-of-mouth to spread the word about their company, products, and services. Fortunately, you don’t have to worry about archaic forms of marketing and can learn about the newest marketing trends with an MBA.
- Entrepreneurship: Entrepreneurs continue to grow, with the number of new businesses hitting a record high in 2021. However, simply starting a business isn’t enough to make it successful. An MBA in entrepreneurship helps students learn how to manage their own businesses or work as business consultants for other small business owners.
- Management: Many MBA programs also offer management classes that help students understand how to refine their leadership skills for the benefit of their future employees and employers. Management skills are invaluable and can make candidates highly competitive when job searching.
These are just some of the many concentrations that an MBA program can offer its students to help them hone in on the skills learned during a BBA.
On the other hand, a BBA is a Bachelor of Business Administration degree. This degree is ideal for those who want to start their own business or work in lower-level management. While a BBA won’t give you the refined education an MBA will, it’s a good stepping stone for those that eventually want to pursue an MBA in a concentrated field.
Main Differences Between MBA and BBA
So, what are the main differences between an MBA and a BBA? Here’s a quick overview:
- An MBA is a Master of Business Administration degree. A BBA is a Bachelor of Business Administration degree. When searching for a job, many will list having a bachelor’s or a master’s degree as a priority.
- An MBA typically takes two years to complete, while a BBA usually takes four years to finish. However, many online MBA programs can help students finish their program in as little as 10 to 12 months, opening up doors to them and allowing them to put their degrees to use faster.
- An MBA is typically more expensive than a BBA. Around half of all students said they needed to borrow $100,000 to pay for their MBA. However, MBA programs can also offer scholarships, financial aid, and flexible course and payment plans to help students achieve their education goals. However, BBA programs are usually more strict since they are on four-year timelines.
- An MBA program generally covers more advanced topics than a BBA program, such as the concentrations listed above.
- An MBA is typically geared towards those who want to pursue a career in upper-level management, while a BBA is ideal for those who want to start their own business or work in lower-level management. Most MBA programs want students to have at least three to five years of experience working in their field, so it’s not a bad idea to pursue a BBA if you’re still new to college.
So, there you have it! These are the main differences between an MBA and a BBA. Choose the degree that’s right for you based on your goals, interests, and budget.