A Masters degree in Entrepreneurship is a graduate level degree. It concentrates exclusively on the skills required to plan, finance, and launch a new business. In this generation, most individuals want to work for themselves rather than work for someone. This is why a Masters degree in entrepreneurship is attractive to young business school graduates instead of the standard MBA. You have to carefully weigh if this is the best approach for you.
How Are They Different?
Most MBA programs concentrate on a broader element of business. They have many different subjects and courses that are offered in multiple areas of business. Some courses that are offered are accounting, finance, marketing, management, statistics, economics and global business. In the corporate world, the knowledge gained from these courses is very important. You will have a fantastic grasp of the fundamentals of business.
Graduate programs that focus on entrepreneurship are a bit different. They focus on understanding all of the ins and outs of running a business. Some courses that you will most likely take in this type of program include courses in venture capital, market evaluation, and business development. Students will also learn how to raise funds to start a business, how to search for business opportunities, and how to create business plans that are proposed by investors.
Which Degree Should I Pick?
Entrepreneur graduate programs are growing in popularity, but it is undeniable that there is value in MBA programs. When you graduate, you are most likely going to get a pay increase of 50% to 80% from your current salary. The drawback of an MBA is that you will remain a little fish in a huge pond. If you are working in a big corporation, you have a limit to how much you can move up the ladder. If you want a steady salary and a dependable workplace, then this path is for you.
On the other hand, a Masters degree in Entrepreneurship will equip you with the skills to be your own boss. If you play your cards right your business will be a success and profitable. There is a certain amount of risk taking you need to be comfortable taking. If you are willing to put in hard work to build a company, you may reap the rewards of a successful venture or experience failure. The experience you gain from your own personal business venture is more valuable than any lesson learned in a textbook in your MBA program.