We study the equivalence between the recently proposed finite environment quantum jump model and a master equation approach. We derive microscopically the master equation for a qubit coupled to a finite bosonic environment and show that the master equation is equivalent to the finite environment quantum jump model. We analytically show that both the methods produce the same moments of work when the work is defined through the two-measurement protocol excluding the interaction energy. However, when compared to the work moments computed using the power operator approach, we find a difference in the form of the work moments. To numerically verify our results, we study a qubit coupled to an environment consisting of ten two-level systems.