Are you an engineer looking to pursue an MBA? Do you want to further your career and tap new opportunities? Are you worried that you won’t be able to manage it with your personal and professional commitments?
Here we bring engineers all the right reasons to pursue an MBA degree. It will help engineers develop themselves professionally and add immense value to their profiles. It enables engineers to gain in-depth knowledge about business practices in construction, manufacturing, energy, and technology.
An MBA polishes engineers’ soft skills and ensures they have access to rewarding opportunities in the future. Need to know more?
Here are the top 5 reasons why engineers should pursue an MBA degree. This will be the best decision. So, without further ado, let us get straight to the topic.
1. Multiple Specializations
An MBA program offers a wealth of specializations for its students. Some of the most commonly pursued MBA specializations are as follows:
- General Management: It involves an all-round and overall management of business operations and helps students adopt skills that enable them to manage a difficult and unstable business environment effectively.
- Marketing: This includes teaching students about product development, price allocation, product placement, and promotional activities.
- Accounting and Finance: This helps accountants and bankers add specialized skills to their skill sets. It teaches students financial controllers, complex financial software programs and mechanisms, data analytics, and statistics.
- Supply Chain Management: This domain ensures that the product is produced effectively and efficiently and delivered to the customer adeptly.
- Entrepreneurship: This is a relatively new domain, and it involves teaching idea generation, feasibility analysis, and start-up execution to the students so they can start their businesses someday.
Different universities offer different curricula, specializations, and modes of education to students. For example, the Florida Gulf Coast University FGCU online specializations in data analytics and management are deemed as one of the best online MBA programs in the state.
2. Improved Managerial Skills
The key reason why most people seek an MBA is that they want to pursue managerial positions in any organization. Most MBA applicants have been in the market for a couple of years and hence understand how the market operates. They are very experienced, and therefore a degree that adds to their professional profile sets them apart.
An MBA guarantees that you will learn the skills that will help you excel in your professional life. While the curriculum for an MBA degree might differ from one university to another, the underlying concepts remain the same.
These include:
- Developing, marketing, and efficient selling of the products and services
- Possessing good leadership skills and managing human resources effectively
- Building a network
- Creating good decision-makers
- Ensuring goodwill of the company where they are working
- Creating an effective and efficient organizational structure
An MBA degree helps you step out of your comfort zone and adds new skills and qualities to your personality. Your industry insight and knowledge become much more refined, you learn new business tools, and it helps in coping with and adapting to the rapidly changing business environment.
3. Career Development
One of the key drivers for a large majority of MBA graduates is using the MBA as a means to improve their careers. An MBA increases your marketability as a professional and helps you tap into better job opportunities. You can get full-time job offers from large multinational organizations at a very high pay scale.
It helps you move to a higher level of management in the organization. Today, MBA is a requirement if you want to be in executive and managerial positions within any good organization. The fact that you have the highest possible administrative degree in your specialization helps you gain major brownie points in the eyes of employers.
According to the US News and World Report, MBA graduates have higher employment rates and greater job security in any industry. Moreover, Graduate Management Admission Council (GMAC) states that hiring business school graduates creates higher value for companies and helps the company grow.
4. Higher Salaries
Higher salaries are also one of the reasons why people pursue an MBA. The average income of an MBA graduate is much higher than that of a regular employee. In some places, you can even earn twice as much!
According to the QS Jobs and Salary Report, these are the average annual MBA salaries in the world,
- US – approx. 102,000 USD
- Canada – approx. 100,000 USD
- UK – approx. 92,000 USD
- Australia – approx. 98,000 USD
- France – approx. 99,000 USD
- Switzerland – approx. 124,000 USD
With this pay scale, you can easily recover all the investment in your MBA degree in a year or two.
5. Potential For Entrepreneurship
As stated in the first point, an MBA degree offers you a golden opportunity to learn from the best of the best and start your entrepreneurial venture. This is the perfect degree if you don’t want to do a traditional job. An MBA degree shows you how to start and grow a business without fail. Pursuing an MBA in entrepreneurship should be your priority if you want to become your boss, have financial freedom, and make your dream a reality.
Many universities have entrepreneurs as their professors for this discipline who give you real-time advice and strong insight into the ins and outs of the business. They can act as our unpaid advisors and consultants. Moreover, you can team up with colleagues who have similar interests to your own. You can share your ideas, take input from them and make your concept fool-proof.
An MBA degree also improves your communication skills, paying huge dividends, especially when trying to grow your business. However, keep in mind that thousands of other entrepreneurs are in the market. You will face competition. Hence, be persistent and keep working hard.
Bottom Line
An MBA can set you apart from others with a master’s degree because you have a much more refined skillset, knowledge of industry trends, a good grip on business tools, and a diverse network of successful business professionals. Moreover, it offers many specializations, great career growth opportunities, and high salary packages.
