Is a Graduate Degree in Business Analytics Worth It?

Earning your graduate degree paves the way for new career opportunities and prepares you to lead in your field. It can set you apart from other candidates, increase your salary potential, and qualify you for top positions. But in the field of business analytics, is earning your master’s really worth it?

This blog will answer all of your questions about the value of earning your master’s degree in business analytics and help you decide whether a graduate degree in business analytics is right for you.

Evaluating the ROI for an Master of Science in Business Analytics

Before you begin your research into whether a graduate degree in business analytics is right for you, it’s important to understand what factors contribute to a program’s return on investment. ROI for education takes more than financial outcomes into account — it also includes the value of skill acquisition, networking, and career opportunities.

The cost of your degree is the first thing to consider. Tuition for MSBA programs can range from $30,000 to $90,000, with many institutions at the higher end. Other expenses might include books, software, and living expenses, plus potential time away from full-time employment.

The financial benefits of an MSBA can begin immediately after graduation. The average base salary for business analysts is $85,000, making it almost instantly profitable. But no matter the program cost, an MS in Business Analytics increases your earning potential, gives you essential data analytics skills, and expands your professional networks. 

Benefits of a Business Degree in Analytics

Graduate business analytics programs take analysis strategies to the next level and offer numerous advantages that go beyond salary boosts. MSBA programs prepare students for advanced careers in business analytics by teaching them in-demand analytics techniques, as well as opening up networking opportunities with alumni networks, internships, and corporate partnerships.

MSBA graduates benefit from:

• A Specialized Skill Set

  • Unlike a bachelor's degree or self-directed learning, an MSBA offers a comprehensive approach to advanced analytical skills. Courses typically cover data modeling, machine learning applications, and strategic decision-making.

• Enhanced Career Trajectory

  • Many graduates quickly advance into senior roles. For example, professionals who start as data analysts may pivot to roles like data strategists or analytics directors within a few years of completing their degree.

• Industry Demand

  • The demand for business analytics experts continues to grow. According to the BLS, the job outlook for market research analysts is predicted to grow 8% by 2033, while financial analysts are at 9% — twice as fast as the average for all occupations. As companies adopt data-driven strategies, skilled analysts are becoming indispensable.

Understanding the Differences: MBA vs. MSBA

While they can both equip you for a successful career in business analytics, there are some key differentiating factors between an MS in Business Analytics and a Business Analytics MBA Specialization.

MS in Business Analytics (MSBA)

• Focus on technical skills: machine learning, data visualization, and statistical modeling

• Deeper understanding of business analytics strategies and core industry technologies

• Duration: Typically 12-18 months

• Ideal for those pursuing specialized roles in business analytics

MBA with Business Analytics Concentration

• Broader focus on leadership, business strategy, and management

• Integration of analytics into strategic decision-making

• Duration: Typically 1-3 years

• Best for those hoping to integrate business analytics into a broader executive role

Deciding which path is right for you depends on your career goals. An MSBA is best for technical experts managing data-heavy projects, while an MBA might be a good fit for leaders hoping to integrate data into broader business functions.

Potential Jobs with a Master’s in Business Analytics

Over the next decade, the BLS predicts about 3,600 job openings for budget analysts each year, on average. This is just one of the common job roles that an MSBA can open for you. Business analysts are common in high-demand industries like finance, healthcare, e-commerce, and technology. Common business analytics jobs include:

• Data Scientist: Develop algorithms for trend prediction

• Business Analyst: Identify trends and recommend process improvements

• Data Strategist: Align data initiatives with business goals

• Analytics Consultant: Provide insights on leveraging data

• Budget Analyst: Evaluate and optimize a business’ finances

• Data Product Manager: Oversee the development of data-driven products

Careers in business analytics extend far beyond the listed career paths as analytics experts rise in demand. Your future in business analytics is within reach with a graduate degree in business analytics.

Launch Your Business Analytics Career Path at Ashland University

At Ashland University, our in-person Master of Science in Business Analytics program directly prepares students for advanced entry into a career as a Business Analyst or Data Scientist. Starting in the Fall semester, it equips students with data analytics and business intelligence skills, including analytical modeling, forecasting, predictions and machine learning. The STEM-designated program emphasizes hands-on learning with real-world tools, focusing on practical ways to apply advanced analytical techniques.

Our MSBA program caters to both early-career professionals and those transitioning into new career paths. It focuses on the application of data management and analysis using modern computing, coding methods and preparing to integrate future technology into the data cycle. The program educates students on the breadth of the data cycle, from data collection to data interpretation.

Earning your MSBA equips you with the education and experience to build a data-driven career in business analytics. If you’d like to learn more about our rigorous Master of Science in Business Analytics program, explore our free eBook.