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They're not, at least not universally. It depends what you want to do next. You can join faang as an engineer after a masters in computer science and make more money than if you joined the same faang after an MBA, and that MBA wouldn't open the engineering path anyway. On the other hand, an MBA is much more likely to lead to a lucrative job than a masters of arts of basket weaving.
Rising Star
This is just opinion. In some countries basket weaving is extremely lucrative if you are qualified academically
I was making less than $50k pre MBA, and I made over 3x that my first year post MBA. Show me another graduate degree that can do that.
Hard to go from and English major to an MS in Comp Sci
not sure what you're basing the 'ranking' on...
having said that, some factors to consider
-- money, money, money --> it's fairly good ROI considering requirements to get in
-- personal context (hang around a bunch of folks with MBA, and one starts to get the feeling that it's the best thing since sliced bread)
Rising Star
MBA is significantly more classes than a masters degree. It is also widely accepted as a prestigious way to learn the basics of business depending on the school. My opinion is that people generally accept what resonates with them - a lot of people have their MBA, while not many people have their masters in the same specific niche as others
Might have something to do with the competitiveness to get into a good program and the long track record of successful MBA alumni.