IIT and IIM is the dream combination of every engineering student. It is no wonder that 94{e68b7490c33b031e176c2bf33b49addad56d24bced82f0be9f22b910d6b7f66c} of IIM-Ahmedabad’s post-graduate program in management consists of engineers. An MBA for engineers is a practical choice. Almost every engineer, provided he has the resources, goes on to pursue an MBA degree in marketing, sales, HR, or Finance. We have repeatedly heard that an MBA is suitable for an engineer’s career, but the question remains: what makes a Master of Business Administration (MBA) degree so suitable for engineers?
1. Engineers find it easy to crack entrance exams like CAT and XAT.
When you have spent years solving complex technical problems, the quantitative aptitude section of CAT becomes easy for you to solve. Solving scientific and mathematical problems in engineering helps you to develop your quantitative aptitude. This, in turn, helps solve the quantitative section of CAT that is primarily based on topics studied in maths till the 10th standard. This is why an MBA for engineers becomes an organic choice.
2. Higher pay
In India, a job after your B.Tech degree will pay you less. But if you couple it with an MBA degree, your salary increases manifold. Since engineering is very costly, students struggle to pay back their education loans. However, an MBA is a safe and economical channel for engineers to ensure a higher pay. Many companies ask their employees to complete their MBA if they want a higher package.
While the average salary of an entry-level software engineer in India is around 5 lakh per year, engineers who pursued their MBA in Business analytics earn about 8 lakhs per annum. An engineer who is also an MBA graduate earns significantly higher, making it a more attractive choice.
3. Inventors want to be promising entrepreneurs.
After you have spent years learning about inventing and creating products, you will naturally want to learn how to market them. If an engineer has come up with a good product or business idea, s/he should learn business management to make her/his business into a profitable one.
Business administration teaches you how to manage your business correctly, build proper networks, and create effective marketing strategies. All these are crucial for any entrepreneur.
4. Moving up the corporate hierarchy
An MBA for engineers becomes an important degree because it allows them to move up the corporate ladder. MBA helps in personality development as it teaches you business communication and networking.
Learning business communication and networking with the right people is essential for moving up the corporate hierarchy. This helps you to achieve your ambitions faster and reach supervisor level positions that pay well. Engineers without an MBA degree will find it harder to get promotions.
5. B.Tech is a vocational course, and MBA requires job experience.
Another reason why an MBA for engineers is a suitable option is that engineering is a vocational course. You have better chances of getting placed in a good company with engineering than with other streams. Some MBA colleges, including some IIMs, ask for work experience before you can pursue the degree.
6. Managerial skills
MBA equips you with managerial skills that help you handle your team better. It teaches you the essential people skills that are required to handle big projects. Since engineers work in teams to create things, they need to know how to handle these teams efficiently and get the work done on time.
Engineers also handle big projects that require them to coordinate big teams. You can expect excellent results only when you efficiently manage your team. This is another reason why an MBA for engineers is a wise choice.
7. Leadership Positions
Good leadership positions also require effective team building, decision-making, problem-solving, and pressure management skills. Since engineers are already equipped with problem-solving, decision-making, and pressure management skills owing to their field of study, it is only natural for them to learn interpersonal and team-building techniques to reach leadership positions in companies.
Leadership requires you to take initiatives, negotiate with people, and lead from the front during tough times. These core skills are taught in an MBA, so engineers naturally gravitate towards this course.
8. Suitable for switching careers
Many engineers pursue engineering for its high employability and good packages. But, they may not enjoy the technical work. Many engineers in their 30s may find technical work unsatisfying and boring. They want to branch out and try another career. MBA is the safest option to switch careers, making it suitable for engineers.
9. Complete understanding of business
Many engineers want to fund a start-up, but they lack knowledge about the financial markets, stocks, and balance sheets. Some engineers like to keep working on their present job and run a small business side by side to pursue their hobbies. For these people, pursuing an online MBA course seems like the most viable choice.
An MBA for engineers is a place to learn interpersonal skills and fast track their careers. Talentedgenext is the perfect platform for engineers who want to pursue their MBA online because it has live lectures, ebooks, interactive learning, and courses curated by industry experts to bridge the industry-academia gap.
