Is Master of management studies better than Master of business administration? Which degree has better career opportunities?

MBA & MS are equivalent. Mumbai University does not give MBA; they call it Masters in Management studies (MS). All other universities call it Masters in Business Administration. For your information, IIMS (all) offer only PGDM. But, they are most valued, respected and greatly in demand.

Both the degree are post-graduation degree, and both have their own advantage. But then too, I will prefer you to go for MBA. If possible, then you can pursue MBA in any IIM. This will add a different status and will fetch you a good job profile in your career as you success in it.