What's there to be confused about between a master of business administration and a master of architecture?

If you plan to run your own firm, or you're more keen to the business side of architecture/running a firm, real estate, entrepreneurship etc. (something we're not taught in architecture school), then go for an MBA. Colleagues of mine who took the MBA route said it's also good for networking and expanding your professional circle (getting potential clients, etc.). You can also opt for an MSc in Management, Real Estate Development, Entrepreneurship in lieu of an MBA (because for MBA you have to take a GMAT).

If you plan to go into academe or research eventually, or basically go deeper and hardcore with architecture, then M.Arch. is the track for you. 

There's a program in IE Madrid that combines both. https://www.ie.edu/school-arch...

MBA, because...

you know, the money.

A business (or engineering or real estate or whatever) masters will give you a different field of knowledge about how the world works.  A masters in architecture is just more of the same thing.

Do the MBA and find a program that focuses on Real Estate. Pay special attention to how they deal with career placement after graduation, what the top companies are that hire from that school and what the alumni network is like. It is best to select a school that has the most amount of connections in the area that you want to work in after you get out and who has the best network. Look at the starting salary after graduation and how quickly they all land jobs after graduation/placement rates.