One way to improve your chances of getting a high-paying job is to pursue an MBA dual degree, which combines an MBA degree with another graduate degree.
According to a Businessweek article, the number of dual degree MBA programs has increased by more than 54% over the past 10 years. Combining an MBA with another graduate degree can be a good way to increase job opportunities and stand out from other MBA graduates.
Considering an MBA dual degree?
Here are some of the most common dual degree MBA programs and a discussion of the pros and cons of getting an MBA dual degree.
What is an MBA Dual Degree?
Although a small percentage of MBA students will pursue a dual degree, doing so can have some significant advantages.
Advantages
- Career protection – Getting a job where both degrees are relevant can offer better job security. For example, if you have both a nursing degree and an MBA, you can apply for jobs requiring either degree. You are also less likely to lose your job if a company downsizes because you have skills in multiple areas.
- Specialization increases employability – Specializing by having both an MBA and another degree can increase the odds that you will get hired for a high-level position. Having a second degree can make you stand out from other applicants who only have one.
- Reduced cost/time versus pursuing both degrees separately – Getting an MBA dual degree usually takes less time and therefore costs less than getting both degrees separately. Universities and colleges like to combine courses and streamline the curriculum to give students an incentive to pursue the dual degree.
Disadvantages
- More intense course load – One disadvantage to a dual degree is that it could require more intense coursework to get two degrees in an accelerated time frame.
- More time and cost – Another disadvantage is that getting a dual degree can cost more and take a little longer than just getting an MBA. If simply getting an MBA will be enough for you to achieve your career goals, then you may want to just get an MBA rather than pursue a dual degree.
Popular MBA Dual Degree Programs
Universities have created dual degree programs combining MBAs with just about any graduate degree. These degrees usually take two-and-a-half to three years to complete.
With a large number of dual degree programs available, some students may be unsure which options to pursue. Here are the most popular MBA dual degree programs if you are looking for established dual degree programs with promising opportunities after you graduate.
MBA with an MS in Nursing
An MSN/MBA dual degree usually takes three years to complete. This dual degree program is usually intended for people looking to get into healthcare consulting or management. The nursing portion of the degree provides students with knowledge of nursing administration and clinical practices while the MBA gives students a good understanding of business management.
MBA with an MS in Finance
Another popular dual degree program combines an MBA with a Masters in finance. Students choosing this path often seek management positions in financial planning, banking, international finance or risk management.
MBA with an MS in Management
An MBA can provide students with a good foundation for business administration, but adding a separate management degree can help them specialize further. Some dual degree programs combine an MBA with management specialties like global management, hospitality management or strategic management. Getting a dual degree that combines an MBA with a Masters in management makes sense for people looking to get into upper-level management in a specific niche.
MBA with an MS in Health Administration
Healthcare is one of the fastest growing areas of employment and job growth in healthcare even exceeded manufacturing and retail in 2017. With the rapidly aging population and an expected increase in healthcare needs, a dual degree in healthcare administration combined with an MBA could be a great career move. The healthcare degree allows professionals to understand the needs of the healthcare industry while the MBA provides a strong foundation for management and shaping policy decisions.
MBA with an MS in Engineering
A skilled engineer can easily make a six-figure salary, but even more ambitious professionals can make even more. A dual degree combining an MBA with an MS in engineering can allow a student with good technical instincts to gain a strong technical foundation through their engineering degree while also developing leadership and management skills from their MBA. Students that pursue this path often look for engineering management opportunities after graduation.
Is an MBA Dual Degree Right for You?
Getting an MBA dual degree is a matter of personal preference. And besides the popular degree programs listed above, some universities have created other unique MBA dual degree programs.
Are you willing to put in more time and invest more financially to get a dual degree? Are you certain that you want to specialize in a certain area or career path? Do you want to have more job options and a competitive advantage over other job applicants?
Answer these questions and explore dual MBA programs offered by various colleges and universities and you’ll soon know whether an MBA dual degree is right for you.
