Last updated on May 27th, 2022 at 07:00 pm
A good number of engineers go for MBA after completing their engineering degree. They do this for a number of reasons. Some do it to learn more about management and go up the corporate ladder while some do it to open more career opportunities. However, they get stuck while trying to choose a good specialization. There are a number of options available that make them confused. Today we are going to discuss MBA Specializations for Engineers to help them advance in their career.
Benefits of MBA After Engineering
After completing the undergraduate engineering course, many are confused between M.Tech and MBA. Though both courses are good choices for engineers, there are many reasons why an MBA would benefit engineering students more than M.Tech. The benefits of MBA after Engineering are-
- Increases the chances of Employability
After completing engineering, one does not have any knowledge about other disciplines. As a result, they only have to limit themselves to engineering-specific roles. Sometimes, due to this, they do not get employment in our country and have to move abroad. Doing an MBA helps you to become more employable and explore various career options. This is because MBA courses are meant for real-life problem solving skills and not just theoretical knowledge.
- Helps switch careers
This brings us to our next point, which is switching careers. With an MBA, an engineer can work in an investment bank or in Big 4 companies. They get valuable experience in other industries as well. In this way, they can develop other interests and move forward in their careers.
- Makes one a jack of all trades
An MBA will give you real-life experience of solving problems. You can solve problems in the banking industry or information technology industry. You can also try your hand at marketing and operations. While engineering limits you to manufacturing-specific roles only, MBA gives you a multilateral experience.
- Tech+Business Skills- a deadly combination
If you look at the examples of some of the famous CEOs of the world like Sundar Pichai, and Shantanu Narayan, you would find out that they did an MBA after Engineering. While b.tech gives you the knowledge of the product, MBA teaches you how to run a company. A CEO should know both of these to make the company successful.
- Improves job position
As mentioned above, engineering opens new avenues for candidates. If they learn new skills and learn more of the managerial values, their job position will improve. They would get more offers and try their hands at different industries.
MBA Specializations for engineers
Here are the top specialisations that engineers prefer for pursuing their MBA.
Specialization 1- MBA in Finance
This is the most sought-after specialization. The candidates will be exposed to things like
- Analytical thinking
- Managerial decision
- Estimating profits and losses of a company/Industry
- Coordination process along with centralized nature.
MBA in finance revolves around factors of production, maintaining a budget of a company, investment and securities and working capital. This specialisation is preferred by engineers because they develop good mathematical and analytical skills during graduation. This skill helps them in understanding subjects like Accounts and Economics because they can co-relate the problems with practical scenarios.
Specialization 2- MBA in Marketing
This specialization is a preferred one as well because marketing is the core department for any company. For a company, having a person with an engineering background and marketing expertise is highly valuable. An MBA in Marketing would help a candidate understand
- Market behaviour
- Consumer behaviour
- Aspects of advertising, and many other crucial skills
They can also use their analytical skills to develop the marketing activities of any product or service.
Specialization 3- MBA in Operations
Operations Management is the most-suited for Engineers. This is because it requires a deep knowledge of product development and designing, and process optimization. Candidates will learn these things
- How to process flaws
- Develop vendor and inter-departmental relationships
- Acquire a set of generic processes and techniques that help in efficient management of production
- Quality management in the industry.
Is MBA Specializations for Engineers a Must?
Unlike what many think, MBA Specializations for Engineers is not a must. A general MBA (also known as MBA General Management or GM) is the type of curriculum that broadly explores the subject of management. Students pursuing a general MBA will learn the crucial skills in management. They would be taught critical thinking, business management, leadership etc. in this course.
The curriculum of general MBA is divided into
- In the first year, students focus on the overall aspects of management.
- In the second year, students are asked to choose their elective subjects.
Choosing electives might provide a certain level of specialization to the MBA course but it does not make the overall nature of the course single-focused.
Top MBA Colleges in India List
Now that you have made up your mind that you will pursue MBA, here are the top colleges in India where it is worth studying in.
- Indian Institute of Management (IIM-A)- Ahmedabad
- Indian Institute of Management (IIM-B)- Bengaluru
- Indian Institute of Management (IIM-C)- Kolkata
- Indian Institute of Management (IIM-L)- Lucknow
- Faculty of Management Studies (FMS) – DU- New Delhi
- Indian School of Business (ISB)- Hyderabad
- Xavier Labour Research Institute (XLRI)- Jamshedpur
- Indian Institute of Management (IIM-K)- Kozhikode
- SP Jain Institute of Management & Research (SPJIMR)- Mumbai
- Indian Institute of Management (IIM-I)- Indore
The Last Word
A general MBA would be a great addition to any engineer’s long list of achievements. This degree would help them know more about the management skills and develop them so that in the future they can take up roles like CEO or MD. They can also choose a specialisation according to their interest. For example, if one wants to venture into consulting, they can choose the MBA in finance. Similarly, if they want to focus more on the product side, they can take up operations management.
We hope you are now sure about the MBA Specializations for Engineers. For more such MBA related content, follow our website!
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MBA Specializations for Engineers FAQs
Candidates can choose a specialisation according to their interest.
They have MBAs in finance, marketing and operations management.
A general MBA (also known as MBA General Management or GM) is the type of curriculum that broadly explores the subject of management.
Students pursuing a general MBA will learn the crucial skills in management. They would be taught critical thinking, business management, leadership etc. in this course.
If one wants to venture into consulting, they can choose the MBA in finance.