Should You Do an MBA, a Master’s in Management or a Specialised Master’s in 2021?

With an undergraduate degree under your belt, you may be considering going back to school to give your professional skillset a boost and make valuable connections in the business world.

This has been proven to be even more the case during the COVID-19 pandemic, as companies across the globe re-evaluate their operations and seek well equipped leaders to help them navigate recent and future business challenges.

Degrees such as an MBA, a master’s in management (MiM), and a specialised business master’s are a great way to develop the necessary skills to stand out in the job market – especially in 2021, as recruiters continue to hire high numbers of graduates straight out of business school.

But which degree is preferred by recruiters, and which will give you the best chance to fast-track your career after a period of economic crisis?

According to GMAC’s latest Corporate Recruiters Survey, the number of recruiters projected to hire MBA graduates in 2021 is significantly higher (91 percent) than that of recruiters planning to hire MiM graduates (54 percent).

These figures are consistent with data regarding specialised master’s too. No more than 62 percent of respondents are planning to hire specialised business master’s students in 2021 across the finance (48 percent), accounting (52 percent) and data analytics (62 percent) sectors.

A recent survey by the consultancy firm MBA Crystal Ball also found that the MBA is still the most popular degree in the eyes of the public.

When asked “In the post COVID-19 world, which degree will be the most valued?”, 59 percent of respondents chose the MBA, followed by a specialised master’s (41 percent), a PhD (eight percent) and ‘other’ (five percent).

This overwhelming preference for MBA degrees is likely due to the nature of the programme. In fact, an MBA programme equips students with the necessary tools to handle complex business challenges, which are crucial to help employers get back on their feet and make their operations more efficient during (and after) times of crisis such as the coronavirus pandemic.