I noticed that they offer both of those degrees. The Master of Commerce degrees are awarded by the Faculty of Business and Economics of the respective school for the most part. The MBA is always awarded by the Business School of that school. Both degrees are unbelievably expensive.
What is the main difference between these two degrees and how are they regarded? How would employers in the US distinguish between the Master of Commerce from Australia and the MBA from there?
It’s not an MS degree. They call them “Master of Commerce” and those degrees are in general business, not a particular field such as accounting or finance.
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An MS degree concentrates study in a single field and prepares students for high level staff or research positions. The MS typically requires an undergraduate education in the field in which you want the MS, or a closely related field. A finance major does not get an MS in chemistry, and a biology major does not get an MS in accounting. MS programs typically accept students just after their graduation with a bachelors degree.
The MBA is a general degree preparing students for management positions in any level of a business, up to CEO. MBA students study accounting, finance, marketing, management, statistics, economics, strategy, policy, and other courses. Many MBA programs offer concentrations in these and many other fields, but that amounts to only 2-3 courses in your chosen field in the second year of study. Many students avoid a concentration and take a variety of elective subjects to gain a broader background.
MBA programs accept students in any undergraduate field. They prefer students who do not have a business background because they give you the business training but they cannot provide the broad background that managers should have. I have taught MBA students with degrees in Music, Medicine, Dentistry, Law, Psychology, Political Science, Chemistry, Biology, Engineering, and many other fields. Most MBA programs prefer students with 2-3 years work experience after the first degree, but many accept students right out of college if they have good grades and a high GMAT score. Some MBA programs are designed specifically for new college graduates without work experience.
The Official MBA Guide provides a lot of information about the MBA degree and MBA schools and programs. It’s a comprehensive free public service with more than 2,000 MBA programs listed worldwide. It allows you to search for programs by location (US, Europe, Far East, etc. ), by concentration (finance, marketing, aviation management, health management, accounting, etc. ), by type of program (full-time, distance learning, part-time, executive, and accelerated), and by listing your own criteria and preferences to get a list of universities that satisfy your needs. Schools report their accreditation status, tuition cost, number of students, class sizes, program length, and a lot of other data. Schools provide data on entrance requirements, program costs, program characteristics, joint degrees, and much more. You can use the Guide to contact schools of your choice, examine their data, visit their web site, and send them pre applications. You can see lists of top 40 schools ranked by starting salaries of graduates, GMAT scores, and other criteria. It’s the best service available at http://officialmbaguide. org.
The difference is the ranking, content and entitlement.
This is the ranking system of university courses:
Undergraduate Degree (First Timers)
Graduate Degree
Masters
MBA (Master of Business)
PhD (Doctorate)
However, it depends on what your MBA is on. My father recently went back to university and did an MBA in International Property Law, and he is on his way to starting a doctorate.
Internationally, an MBA is much more recognized when applying for jobs overseas. A Master of Commerce is simply a degree, another course that is on your Curriculam Vitae but not giving as much recognition as an MBA.
Completing a MBA would be of more benefit, it gives good knowledge and prepares you for all of the industry in which you have focused.
In my opinion, they are both expensive courses and doing an MBA would be of more benefit.
(But then again, you could always finish the MBA, go and work overseas for nine years, and your HEX fees would be gone, you wouldn’t have to pay them because you technically aren’t employed within Australia therefore not paying tax. The levy that not many people know is that you should do your course, get your visa if need be, and go and work overseas for nine years in your chosen field, that way, if you decide to return, guess what? no more hex fees
in the end only paying like $5000 of a $40,000 course. )