MasterClass vs. Coursera: Which Is Worth Your Money?

We all have different reasons for wanting to learn, from developing specific skills that will help our careers to simply broadening our minds. The great thing about online learning platforms is that there's something for everyone and every budget. Coursera and MasterClass are two of many options available, and both are top of their particular classes.

Before we dive into the pros and cons of these two platforms, it's worth pointing out that paying any subscription fees can drain your bank account. Especially when there is so much free online learning out there. In addition to the wealth of free material on the internet, you can access all kinds of online courses using your library card. Coursera itself has many free courses. These are good places to start before you pay a dime.

MasterClass vs. Coursera

Coursera and MasterClass can both be worth your money in the right scenario. One gives you access to top-notch colleges and universities, while the other lets you learn first-hand from people who are leaders in their fields.

Coursera

If you're looking for qualifications or even a degree, Coursera is where it's at. The platform has partnerships with hundreds of organizations around the world and offers over 7,000 courses. Its partnerships include universities like Harvard, Yale, and Princeton, as well as businesses like Google and IBM. The great thing is that you can access a lot of its courses for free.

Coursera is a lot more academic than MasterClass and has some incredible lectures. The courses are well structured and broken down into bite-sized pieces. I like the mix of video and text, as well as the forums where you can interact with professors and other learners. The platform is clear and extremely user-friendly, with lots of useful features -- such as a tab where you can keep screenshots or notes from the course.

Coursera costs

The cost of courses can range from free to thousands of dollars if you want to get a degree. Here are some key costs to understand:

• Individual courses: Many courses are available for free with the option to pay a fee (often $49) for a certificate. It also offers shorter guided projects for as little as $9.99.
• Specialization: A specialization is a set of related courses, such as an International Business specialization. Rather than pay per course, you pay a monthly fee until you complete that set of courses. Specialization costs start at $49 per month.
• Monthly subscription: Coursera Plus gives you access to around 90% of the classes with unlimited certificates for $59 a month or $399 a year. If you plan to do several courses and need proof of your qualifications, it may work out to be a better value than paying for individual courses.

Coursera has a couple of free-trial introductory options of either seven or 14 days, depending on what you are signing up for.

Getting value for money: It is easier to see the financial benefits of Coursera, because it gives you skills you can use to get a promotion or score the job you want. Plus, if you don't need the certificate, there are many free courses on the platform. Plan out what skills you need and consider how important the piece of paper is to your career.

MasterClass

MasterClass doesn't offer certificates. And it won't help you if you, say, want to learn how to build a website. It isn't that type of platform. What MasterClass does best is inspiration -- whether that's in the form of cookery classes, showing you the fundamentals of meditation, or helping you design your home. It has over 180 courses that span a range of themes.

There is something incredibly powerful about listening to someone you admire talking about a topic they are passionate about. And MasterClass's high production values mean you're right there in the room with them. I can highly recommend Yotam Ottolenghi's course on Middle Eastern cookery, as well as Dr. Jane Goodall's talk about her experiences with chimpanzees. It is hard to put a price tag on that type of learning.

MasterClass costs

Unlike Coursera, MasterClass does not let you sign up for individual courses, nor can you sign up every month. Your only option is to pay for a year's membership, though you can reduce the cost by splitting it with friends/family.

Here are the annual fees:

• Individual: $120 (1 account, 1 device)
• Duo: $180 (1 account, 2 devices)
• Family: $240 (1 account, 6 devices)

MasterClass will refund your subscription if you cancel in your first 30 days.

Getting value for money: I categorize MasterClass as entertainment rather than education. That's not to say I haven't gotten a lot out of its courses -- I love learning. MasterClass is also significantly cheaper than Coursera on a monthly basis. But it doesn't have a clear financial benefit, particularly as its courses won't directly advance your career.

Plus, the fact that you can only sign up for a year is frustrating. I've also had issues where friends had to enter their credit card information to use its "free" guest passes.

Bottom line

MasterClass's content may be fascinating, but it's hard to justify the fee when there are good alternatives out that don't cost a thing. In that sense, Coursera's free content puts it above MasterClass in terms of value for money.

For example, former FBI lead hostage negotiator Chris Voss's class teaches negotiation on MasterClass in an engaging way. However, there's a free negotiation class on Coursera, taught by a professor at the Ross School of Business at the University of Michigan. Voss's course is easier to watch. But it doesn't warrant MasterClass's $120 annual membership fee.