The purpose of this work is to identify the main features of the Master in Business Administration programs and how these programs are evaluated by students and former students, aiming at helping academic institutions develop or improve their Master degree courses in the area. In this research, the conjoint analysis method was used to determine the set of features considered relevant by Master in Business Administration students. The thesis was developed in two stages: choosing the attributes and levels to be evaluated by respondents and analyzing such evaluation. The attributes and levels to be assessed were chosen only after the existing information was analyzed and a focus group was conducted. The set of stimulis to be given to the Master in Business Administration students was then chosen based on the orthogonal project calculated by the statistical software SPSS. The next stage involved data collection using questionnaires, which were personally delivered to the respondents or, in some cases, sent by e- mail. Finally, the statistical software SPSS was used to analyze the relative importance of the attributes and the partial utilities of the levels proposed in the field research, achieving the general goal of identifying the relevant features for the concept of a Master´s degree course.