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MBA vs. MSc, why different?

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Why is there a difference in the recruiting of an MBA candidate vs. a Msc candidate? My understanding is that when consulting firms and/or banks hire people they add a premium to someone with an MBA vs. someone with a Msc? Why is that, is it simply because most MBAs have 5+ years for work experience while many Msc grads went straight from an undergrad program and thus may have limited experience?

I guess my question is, if you have 5+ years of experience and then go back and get a Msc, would you then be on par with someone coming out of an MBA program or would companies still apply a discount?


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