Getting your graduate degree will require a big investment of time as well as a big chunk of change. So you want to make sure you’ve got the biggest question answered correctly: which degree should you pursue?

Even if you’ve narrowed your options to the study of business, it doesn’t mean an MBA degree is the only way to go. It might make sense to pursue a masters degree in a related subject such as marketing, accounting, finance or international business. Alternatively, you can fine-tune an MBA degree to your interests by choosing a specific emphasis or concentration. A concentration generally consists of about three courses relating directly to your chosen subject.

So what’s right for you? In many ways, the question of an MBA degree vs. MS degree comes down a question of breadth vs. depth. Do you want to see the big picture or zoom in on a specialization? Do you want to manage a diverse range of people and business areas, or become the resident expert on a particular subject? With some serious thinking about your personal interests, your career needs and your current schedule, you’ll be able to make the right decision.

Let’s start with the business MS degree. While an MBA concentration may only feature a few classes, an MS will dig deeply into a subject. Expect rigorous material that may be more theoretical or math-based than a more general curriculum. Marketing is a good example. At a high-level, the subject may seem straightforward—figuring out how to sell a product or service; just another word for advertising. Pull back the curtain, though, and you’ll find an incredibly intricate discipline that requires aspects of mathematics, sociology, statistics, product design, distribution and more. If you’re really sure of your subject, then an MS will give you the chance to explore it with much greater depth.

Because it’s a more specialized degree than an MBA, business MS programs may be smaller in size and may offer less flexibility in course options and schedules. Many MS degree programs are designed to prepare students for specific certifications or exams, such as the Chartered Financial Analyst (CFA) exam for those studying finance. An MBA will cover many of the relevant knowledge and skills but won’t necessarily focus on the ins and outs of the exam.

Now let’s take a closer look at the MBA degree. Chances are, you’re probably pretty familiar with this degree—and you can bet that goes for just about anyone everyone else considering graduate school. An MBA is a universally recognized degree, so you can expect it will always be a highlight on your resume, no matter who’s looking at it. As we alluded earlier, an MBA has breadth: you’ll explore coursework in subjects such as finance, organizational behavior, leadership, technology and management.

If you’re looking for career flexibility or management training, a business degree is the way to go. Through varied classes, case studies and a diverse student body, you’ll be exposed to a whole gamut of different subjects and industry opportunities. You might begin your degree with one career in mind and finish the semester with an entire list of other ones. So unless you are absolutely sure of your subject, or you are being trained specifically for your current job, an MBA degree may be a safer option.

The flexibility of an MBA will likely extend to the way you earn the degree itself. Because business degrees appeal to a greater number of people, most universities will be able to offer a wider range of academic options. These may include one-year and two-year programs; part-time, evening or weekend programs; and executive programs. You may be able to pursue all or part of your degree online. These options may still be available for an MS degree, though probably to a lesser extent.

So now that you have a stronger understanding of the differences between an MS and an MBA, how do you determine which one has your name on it? Well, the best thing you can do is talk to people—lots of people. Begin by visiting the department offices of the degrees that interest you. The faculty and professors will give you a better sense of the curriculum and of where students go after graduation. Conversely, you should talk to those who already work in your chosen industry. Ask them about the degrees held by their peers, and whether an MS or an MBA is preferred. For both degrees, consider the starting salary and job descriptions you can expect to earn coming out of school—they won’t necessarily be the same.

And, of course, one of the best ways to decide is to not decide at all. Many universities offer a joint degree, such as an MBA / MS in finance. Your education will take slightly longer, but you’ll have the benefit of the breadth of the MBA and the depth of the MS.

Finally, keep in mind that each degree you’re considering will hold different requirements. While an MBA application will ask for a GMAT score, an MS may require the GRE and the TOEFL. Also, because of its more rigorous curriculum, the MS option may require more specific experience, such as prerequisite coursework or a specific undergraduate degree. An MS in operations research at Northeastern University, for instance, strictly requires undergraduate work in science, math or engineering.

Whatever you do, try not to sweat it. You’re wise to be pursuing either of these degrees. Whether it’s an “MS” or an “MBA” that ends up appearing after your name on the resume, you should find yourself well-positioned for success.