MBA vs. Master's in Finance: ROI, Salary, and Career Prospects

The market for advanced business degrees is hot and getting hotter. But if you're considering one of these qualifications, it's important to understand the differences between them so you can be confident you're investing time and resources in a degree that will help you take meaningful steps toward your career goals.

Studies like the Graduate Management Admissions Council's annual Corporate Recruiters Survey provide insight into the plans of corporate recruiters and hiring managers. In the 2025 edition of the influential GMAC job market survey, the results pointed to continuing demand for advanced business and finance education. Across 1,100 recruiters in 46 countries, the survey found 90% planned to hire MBAs in the coming year, with 37% predicting they'd be hiring more MBAs than the year before.¹

The recruiters surveyed also valued specialized finance degrees. For example, 25% of respondents believed they'd be recruiting more candidates with a master's degree in finance, whereas back in 2024, that number was a mere 13%.¹

This article looks at the MBA vs. master's in finance to help you understand how they differ and why you might prefer to commit to one over the other.

MBA vs. master's in finance: program overview

The first step when choosing between an MBA or master's in finance is clarity over the basic distinguishing features of each program.

Typically, a Master of Business Administration (MBA) is a broad-based training in general principles of business and management.² An MBA will usually have a focus on leadership, with candidates expected to aspire to senior positions. MBA's will cover the range of core business functions, from accounting to marketing and HR, but many courses offer students the opportunity to concentrate on a particular business operation or field.

A Master of Science in Finance develops specialized finance skills and technical depth.³ Subjects that might be addressed as one module in a finance elective on an MBA curriculum might be full-credit courses in a master's in finance.

Key differences in curriculum

The primary difference between MBA and master's in finance curricula is specialization.

Typical MBA courses focus on broad business strategy, leadership skills, and a management-level understanding of core functions, such as operations, marketing, and finance. Studying for a master's degree in finance typically involves a deep dive into financial instruments and concepts, such as investments, risk management, how markets work, and financial modeling.

Program duration and cost

A typical full-time MBA is a two-year course of study. Costs vary, but the standard estimate is around $100,000-$200,000 in combined tuition and living expenses.⁴ U.S. News and World Report found the average top-ranked online MBA costs $1,605 per credit, totaling more than $150,000 to complete.⁵

A master's degree in finance is usually a one-year course of study, though some institutions offer fast-track options, and there are also two-year courses. Average tuition is estimated to be $50,000–$80,000 per year.⁶

There are exceptions, of course. For example, KU's online MBA is a top-ranked qualification–rated #7 among U.S. online MBAs by U.S. News and World Report⁵–that can be obtained for less than $40,000 in tuition.

Students must also consider living expenses for their time in college, as well as the cost of giving up an existing job for full-time study. To help mitigate some of these costs and help working professionals commit to their education without sacrificing financial stability, online degrees–often taught asynchronously and offering greater flexibility–are increasingly popular.

ROI and salary expectations

Generally speaking, MBA vs. MS Finance salary comparisons tend to put MBA graduates a little ahead. GMAC research estimates average MBA starting salaries at $120,000 per year,⁷ while ZipRecruiter puts the average salary for a master's in finance graduate at $92,631.⁸

Over the course of a full career, that difference may narrow. The long-term career ambitions of an MBA in finance vs. master's in finance, for example, are likely quite similar. Both qualifications might ultimately lead graduates to senior positions in investment banking, management consulting, and finance specialties in the C-suite.

Graduates will also consider other factors that can affect career outcomes, such as active alumni networks and the overall reputation of their degree and alma mater.

Career prospects

When it comes to career prospects, MBA candidates tend to enjoy the broader array of options, with opportunities likely to arise in consulting, general management, entrepreneurship, and business leadership roles.

Master's in finance grads will more likely find their way to finance-specialist roles, such as investment banking, asset management, corporate finance, and risk analysis.

Who should choose an MBA?

An MBA is an excellent option for mid-career professionals looking to switch to a new career track or boost their current prospects. It's a degree with longstanding appeal and utility for aspiring business leaders, executives, and entrepreneurs.

Who should choose a master's in finance?

A master's degree in finance is more suitable for finance-focused specialists seeking technical depth that will lead them to specialized roles in banking, finance, and associated fields.

If you're having trouble picking between an MBA and a more specialized qualification, it's worth considering a hybrid option, such as an MBA in finance–combining a broad-based MBA with a focus on finance.

Pros and cons of each path

Ultimately, the question is not so much "Is an MBA good for finance?" or "Does a master's in finance prepare me for a business career?" Both degrees are globally respected qualifications, but they have different qualities.

You can do a lot in the world of business with an MBA, which remains the gold-standard qualification for business leadership. The master's in finance is designed to develop finance specialists with deep technical expertise.

Boost your career in business with a KU MBA

In summary, an MBA is a longer and more expensive course of study than a master's in finance, but it tends to be a more agile qualification. A master's in finance tends to cost less in terms of time and tuition, but grads may start out earning a slightly lower salary than MBA counterparts. Both degrees, however, set you up for a business career. Match your degree to your career goals and personal priorities, and you'll come out ahead.

For some students, a degree like the online MBA from the University of Kansas School of Business offers the best of both worlds. A top-10-ranked online MBA by U.S. News and World Report, the KU MBA can be completed at an average cost of $895 per credit, or less than $40,000 total. And graduates enjoy a respected qualification from a world-renowned institution, backed by KU's famous Jayhawk alumni advantage.

Take a look at our admission requirements online, and schedule an appointment with an admissions outreach advisor to discuss what an online MBA from KU can do for you.