Wondering what are the next steps after your engineering? Thinking of an MBA degree? An MBA will surely complement the technical skills that you’ve gained from your engineering degree. However, deciding to pursue an MBA is one thing and figuring out the nitty-gritty of joining an MBA after engineering in India or abroad is another.
The following article aims at clearing some of your doubts and dilemmas about why an MBA after engineering is the right choice.
What is an MBA Degree?
Master’s in Business Administration, (MBA) is a well-known and prestigious degree all around the world designed to enhance the skills required for careers in business and management. The MBA curriculum is designed to produce job-ready candidates who can handle a variety of scenarios in any business setting. MBA students receive a great deal of hands-on training or field training with organizations that eventually hire them. Furthermore, these organizations invest a significant amount of time and money in training these individuals. Business and financial management, marketing, operations, planning, and a variety of other skills are all taught in MBA programmes. As a result, it is a very desirable degree to pursue after your engineering.
Is an MBA Degree Ideal for Engineers?
A commonly asked question by most engineers is why MBA after engineering? The main reason to pursue an MBA after completing an engineering degree is that it will enhance your ability to lead in managing roles, giving you a competitive advantage in both technical and managerial areas. Engineers benefit from an MBA because they not only know how to design products but also how to market them. Moreover, an MBA after engineering can assist engineers in moving up the corporate ladder and achieving top positions.
The top B-schools ask you to work for two to four years before enrolling in an MBA programme after completing your engineering degree. An MBA after two to four years of working experience offers more career stability and higher-paying jobs. Meanwhile, MBA right after your graduation can become an uphill task since you’re new to the industry and not well aware of the managerial traits. Hence, complementing your education with some experience in the managerial field is always an added bonus in landing your dream job.
What is the Scope of an MBA after Engineering?
Many pursue an MBA after completing engineering degrees in order to advance to top management positions in businesses, but not all. Some of you want to become entrepreneurs and start your own businesses, so you can opt for an MBA. The MBA degree with its multifaceted curriculum and industry exposure opens up a lot of opportunities for self-employment. The scope of jobs after an MBA in the private as well as the public sector is immense. From the Banking sector to Human Resources and Sales & Marketing, an MBA opens up a lot of career avenues with high-paying jobs.
What are the Top Benefits of Doing an MBA after Engineering?
The benefits of an MBA after Engineering are as follows:
- Career Growth: An MBA after engineering assures career growth. With only an engineering degree you’ll be working as an Assistant Engineer but with an MBA you can become an integral part of the middle-level management hierarchy. Therefore, an MBA enables significant growth in the career trajectory.
- Hike in Salary: If you want to increase the number of zeros on your paycheck, an MBA after engineering is the way to go. Depending on your experience, the change can be minor or significant. As a junior assistant engineer, you might be earning a decent amount per annum, but after an MBA your current compensation could get doubled or even tripled.
- Network Building: An MBA after Engineering is a gateway to extensive alumni networks, top-tier internships, and the best managerial employment opportunities. It will allow you an opportunity to learn from the industry leaders and network with professionals. The peer-learning and interaction will be an added advantage.
- Exposure: An MBA program will expose you to new professional challenges and hone your managerial skills. This will have a positive effect on your interpersonal and communication skills, increasing your thinking capabilities. It will also expose you to the best management tips and tricks that you could apply to your job.
An MBA degree will not only create highly human interactive simulations but also enable your creative thinking process in terms of imagining, planning, and accommodating human minds to work for a common goal. This coupled with the technical skills from your engineering degree will foster your career graph and increase your compensation simultaneously.
Salary of Engineers Who Pursue an MBA
As mentioned above, pursuing an MBA ensures a hike in salary accompanied by managerial opportunities. 3% of graduates with an engineering degree can earn between INR 8,00,000 to 10,00,000. However, engineering graduates who had pursued an MBA are offered INR 8,00,000 as their starting salaries. This means with an MBA, you are bound to earn twice the amount you would earn as an engineering graduate. Some of the MBA programs you can pursue are MBA in Finance, MBA in Management, MBA in Human Resources, MBA in Operations, and MBA in Marketing.
The job positions and the average salary after an engineering graduate completes an MBA degree are as follows:
|Job Positions||Average Salary in INR|
|Human Resources Manager||INR 2,40,000 to INR 8,40,000+|
|Finance Manager||INR 6,00,000 to INR 26,00,000+|
|Marketing Manager||INR 3,00,000 to INR 20,00,000+|
|Operations Manager||INR 3,00,000 to INR 20,00,000+|
|Business Development Executive||INR 1,80,00 to INR 5,50,000+|
You can check out GMAT preparation courses for an MBA degree on the CareerLabs website.
- What are the advantages of doing an MBA after Engineering?
A: There are numerous advantages of doing an MBA after Engineering. Some of them include ensuring growth in your career, a hike in your salary, exposure to managerial skills, and elevating your networking opportunities.
- I have just completed my engineering degree, can I pursue an MBA right after?
A: You can pursue an MBA as soon as you complete your engineering degree. However, most business schools list work experience as a necessary requirement for an MBA. Hence, it is recommended you acquire a minimum of two to four years of work experience before you apply for an MBA program.
- Do I have to take the GMAT if I am planning on applying for an MBA?
A: If you are planning on applying for an MBA in India or abroad, a valid and good GMAT score is a must.
- If I want to pursue an MBA at IIM, what entrance exam can I take to be eligible?
A: If you are planning on pursuing an MBA at IIM, you must take the IIM-CAT to be eligible. You may also take the GMAT as some of the IIMs accept GMAT scores. However, this might vary depending on which IIM branch you choose to go to. Hence, make it a point to check the eligibility criteria before you apply to the IIM of your choice.