Employers hiring candidates with a Master of Business Administration (MBA) indicate that the Entrepreneurial Spirit (ES) concepts of teamwork, creativity, innovation and adaptability are important. This replication study examined the ES concepts most often appearing in job descriptions seeking to hire MBA candidates. These concepts were used to compare those ES concepts employers most often seek when hiring undergraduate business degree candidates. The literature review provides a background on the development of MBA programs, ES concepts and entrepreneurship education, how innovation is developed, and the perceived gap regarding the development of ES concepts between employers and MBA graduates. The study follows a quantitative content analysis methodology to compare two external datasets: undergraduate job descriptions and MBA job descriptions. The results show that the most desired ES concepts sought by companies were implementation, collaboration, and innovation. There was not a significant difference in ES concepts by job title category in job descriptions between undergraduate business degrees and job descriptions requiring an MBA. There was a significant difference in the concept of innovation. The findings suggest that the ES concept of innovation is more highly desired by companies seeking people with MBA degrees than by those seeking undergraduate business degree holders.