What is a better fit for me? A classic Masters degree or an MBA? We hear this question all the time at Access Masters events.

It is perhaps the most important question to ask for someone who wishes to delve deeper or go wider in their knowledge of business and finance.

And when we say deeper or wider, we actually have something in mind.

WATCH: 13 Reasons to Pursue a Masters Degree Abroad

As the folks from GMAC explain the MBA is a generalist programme that provides management and leadership skills with a lesser focus in one area.

The Masters in Finance, on the other hand, is “very technical”, with a strict focus on the subject matter.

Simply put, the MiF will make a you a great professional while also kick-starting your career, while the MBA will make you a great manager once you’ve already gained some work experience.

Therefore, if you want to attain a narrow specialisation that would make you a desirable recruit for your first or second job, you’re better off with a Masters in Finance, and if you aim to acquire a wide scope of soft managerial skills and already have the needed experience, an MBA is probably the better choice.

Check out GMAC’s full video featuring Lisa Bevill, Former Director of Admissions at IE Business School and Clifford McCormick, Director of MBA Admissions at University of Pittsburgh: