How much does a master’s in engineering management make?
Engineering management is a career that brings the technological problem-solving savvy of engineering-driven purposes.
A Master in Engineering Management (MEM) is sometimes referred to as a Master of Business Administration (MBA) for professionals seeking a master’s degree as a qualifying credential for a career in engineering management. If you want to get a management degree that can help to support your technical knowledge, then it’s the best master’s program you can have.
Engineering management integrates students’ technical ability with knowledge and skills in leadership, qualifying them for success in highly specialized businesses.
What is the scope of having a master’s in engineering management degree in the future?
- The MEM degree gives you a specialized skill set, making you a manager who takes decisions backed by sound numbers. In today’s age of data-backed decision-making, engineering managers are a precious asset.
- If you take the suitable electives as a part of your program, you become an instantly hireable asset.
- Many applicants with significant work experience have started to apply to more specialized programs such as Engineering Management, Supply-Chain Management, Operations Management, and Business.
- Analytics instead of an MBA due to the skills these programs impart.
- Engineering Management graduates take up careers as Business Analysts, Product Managers, Marketing analysts, Product Engineers, and Management Consultants.
- The course is especially ideal for you if you wish to pursue a management degree with
Benefits of engineering management
Engineering management gives us much knowledge regarding transforming customer requirements into valuable products through the engineering process. Development, in this term, is not only about tangible things but also in intangible forms such as service.
It includes understanding the nature of the market through a microeconomics perspective; marketing research to understand the requirements of the market/customer; product design & development and service design to develop products to fulfill the customers’ needs; business process and organizational structure to help build a suitable form of organization/team to create, develop, produce, and market the products; and project management knowledge to manage the whole process/project customarily.
Suppose you are in management consulting, a company management role, or a product engineer. In that case, engineering management is highly suitable for you and could give you insights into how the industry works as a holistic system.
If you are planning for a MEM course, Simplilearn online learning provides MEM in association with the International university of applied science with 100% placement assistance. Kickstart your career with the right partner. Simplilearn online learning is for you.
What is the average pay one should expect after completing a master’s in engineering management?
The median salary for a Dartmouth MEM (A top 3 program at the very least) is around 75–80k dollars yearly. For people without work experience, the salary is closer to 70K, while students with solid work experience draw upwards of 85–90k. That number can fall to around 60k as well if you don’t go to a top-rung MEM program.
After completing the MEM degree, the average salary for some business school students was around $90,000 per annum. The figures may vary depending on the firm and the cities.
Salary according to fields
- Civil engineer
Civil engineering is a professional discipline that deals with designing, constructing, and maintaining the physical and naturally built environment, including roads, bridges, canals, dams, and buildings.
The average Civil engineer makes ₹4,77,884
- Project manager
Formulates the project strategy, develops the project plans and communicates the goals to the team, points out customer relations such as sharing the project strategy with the plant and construction, builds and maintains relationships, establishes project team expectations, directs and is responsible for the change process, responsible and accountable for cost and schedule, prepares project reports for the client.
- The average Project manager makes ₹1,037,649
- Top locations- New York, Washington DC, Chicago, California, Illinois
- Production Engineer
Production Engineering is a program that links together science with the technology used in manufacturing. The students are introduced to concepts and skills in creating integrated designs for solving the shortcomings on the production front. There are many openings in different countries.
The average Production engineer makes ₹356,571
- Project engineer
Oversees the technical aspects of the project as it relates to the project goals and objectives. They have overall accountability for the technical integrity of the project, direct communication of details between the plant and construction, design coordination, create a design punch list, and ensure that the design review process occurs.
- The average Project engineer makes ₹992,808
- Top locations- New York, Washington, Chicago, and San Francisco
- Operational manager
Operations are what companies use to transform resources into goods or services. Most of an organization’s financial and human resources are invested in operation management, which is critical to a company’s success. The role of an Operations Manager is to design, plan, direct, and improve all the activities involved in producing goods and services.
The average Operational manager makes ₹875,813
- Structural engineer
Structural engineers contribute to the construction of performance structures, beautiful frameworks, proper formations, or just nice structures, such as roadways, amusement parks, and tower blocks, as well as healthcare facilities, residences, and public artworks. A structural engineer’s core strengths are homebuilding, conceptual design, construction materials science, and infrastructure. A structural engineer’s job entails using cutting-edge advanced technologies and software applications.
The average structural engineer makes ₹7,11,350
- Automation engineer
Automation needs experts with immense work experience to build good software development. Automation engineers are like process engineers in charge of the methods and apparatus coming together with automation which refers to the technological background operated by minimal human intervention. They usually perform QA tests on various software programs, which include hunting system faults, installation of automation applications, and many other things.
The average salary comes to ₹9,12,350
Over to you
If your expertise lies in constructing things and leading projects, one of the essential core, then a master’s in engineering management may be the right degree for your career. A Master’s in engineering management is no less than an MBA degree holding several job opportunities abroad.