PMP and a Master's degree are two different educational certificates and the PMP certification is not considered equivalent to a Masters degree.
The PMP certificate is a world-renowned certification demonstrating knowledge and expertise in project management and it is exclusively managed by the Project Management Institute (PMI). The PMP certificate is recommended for project management professionals who have at least 3 years experience in the project management field.
Whereas an MBA, or Masters of Business Administration is considered a graduate-level degree providing students with a deeper understanding of business administration and management. The MBA can be obtained from various programs and tertiary schools worldwide in a full-time or part-time format.