MEM – What is it? Master in Engineering Management (MEM) is a curriculum that is specifically designed to equip engineering graduates with the exposure needed to fill the gap between engineering, technology, and management. It is one of the most sought-after degrees by aspiring engineers after Core Engineering. Engineering graduates who pursue this degree are qualified for higher management positions in an organization’s hierarchy.
It is no secret that every young graduate aspires to have a stable professional life. As a fresh graduate, my only dream was to get placed in a top-notch MNC and earn a high paycheck. However, in recent times, one needs to be multi-skilled to make a space for themselves in the corporate world. On average, every top organization or company prefers people who possess both technical and managerial skills.
Conventionally, it was believed that pursuing an MBA is the safest road to earning a high salary after graduation. But, it no longer stands true. Degrees like Master in Management, Master in Finance, Master in Engineering Management, Master in Business Analytics, etc., have been gaining a lot of popularity lately. They have turned out to be an alternative for the same.
The newest one to step in is Master of Engineering Management. MEM is a graduate degree that provides a good blend of advanced technical knowledge and skills and the know-how of business and Management. This degree is typically designed for engineers who possess a knack to lead and manage in a professional setting. Ina layman’s terms, Engineering management is a multidisciplinary field that involves the application of business methods and management expertise to technology companies and products or engineering processes.
Who should apply for MEM?
Masters in Engineering Management may be the appropriate decision for you if you have a bachelor’s degree in engineering or science and are seeking a non-traditional master’s degree. Is there a prerequisite for engineering experience? No, anyone with a bachelor’s degree in engineering can apply for a master’s degree in engineering management. This programme is indeed for you if you’re interested in R&D management, technological entrepreneurship, industrial management, quality control, intelligent management, data analytics, and more.
What are the requirements for a MEM course?
A Master in Engineering Management is widely available in the United States and some universities in Canada and Australia. MEM programmes are available in both full-time and remote learning formats. Although entrance criteria differ by university and form of study, the following are some essential prerequisites for admission:
- A bachelor’s degree in engineering or science from an approved institution, or its equivalent, with a good CGPA.
- Most universities require GMAT or GRE scores. However, candidates with exceptional professional experience may be exempt from taking the GRE or GMAT.
- Two or three letters of recommendation from people who know the candidate’s academic, professional, and leadership abilities.
- A personal statement or a statement of purpose.
- TOEFL or IELTS results are required for overseas students whose first language is not English.
- Transcripts from all colleges and universities attended, both undergraduate and graduate.
- Students with little or no work experience should apply for master’s degrees in engineering management. It is suggested for students with less than five years of job experience.
- Many colleges demand that students complete a prerequisite curriculum or have sufficient expertise in advanced technical abilities, especially calculus and statistics.
Which is better for you: MEM or MBA?
Your long-term job goals and interests will determine whether you should pursue a MEM or MBA. While selecting a program, candidates should know the entrance requirements, program curriculum, career outcomes, and budget. Here are some points to consider while deciding between a MEM and an MBA:
- While an MBA program is open to graduates from any area, the MEM program is only available to scientific and engineering graduates with a strong physics, mathematics, chemistry, and mechanics background.
- MBA programs are more costly than master’s programs in engineering management. In addition, MEM programs are targeted at young individuals with no or minimal job experience, whereas MBA programs are geared toward candidates with substantial professional experience.
- MBA programs span a wide range of disciplines and may or may not include a technological component.
- If you want to go for higher-level corporate management and leadership positions, an MBA is a way to go.
- MEM is the program to pursue if your interests are in technology and technical fields and a desire to acquire the strong business and decision-making skills to tackle difficult problems. As a result, students should double-check all program specifics before making a decision. Do your homework. Connect with students, teachers, and graduates of engineering management and MBA programs to learn about the advantages and disadvantages, work-life balance, and career options and make an informed decision. Examine MEM vs MBA in depth.
Career and Jobs after Masters in Engineering Management
If you appreciate constructing things, leading projects, and solving problems, a master’s degree in engineering management may be for you. Master’s degrees in engineering management can help you prepare for several jobs that need management, construction, and technical design skills.
Positions for those having master’s degrees in engineering management are known as a master of engineering management jobs. Students who pursue a master’s degree in engineering management learn both engineering and leadership abilities. Master’s degrees in engineering management enable people to prepare for more advanced engineering positions and managerial responsibilities in the engineering industry or adjacent businesses like architecture or construction.
The majority of people obtaining master’s degrees in engineering management have prior engineering expertise.
1. Project Engineer
A Project engineer is an individual who looks after technical staff on engineering projects within their company, ensuring that projects are completed on schedule, within budget, and within project specifications. Their primary responsibility includes ensuring efficiency in the given task and providing effective communication between the project manager and the technical staff involved in the project.
Average Salary- US $75,490
Top Locations- New York, Washington, Chicago, San Francisco
2. Project Manager
A project manager is a professional responsible for the planning, procurement, and execution of the project in any definite undertaking. Therefore, they do not directly participate in the project making. Still, They strive to maintain progress and mutual interaction amongst co-workers and ensure to minimize failure of the project by analyzing the risks involved promoting maximum profit and minimum loss.
Average salary- US $73,487
Top Locations- New York, Washington DC, California, Chicago, Illinois.
3. Cost/System Analyst
A cost analyst is a professional who analyzes a company’s costs or the use of available resources and reports such analysis to Management for decision-making and control.
A systems analyst is a person who uses analysis and design techniques to solve business problems using information technology. Systems analysts may serve as change agents who identify the organizational improvements needed, design systems to implement those changes, and train and motivate others to use the systems.
Average Salary- US $75,964
Top Locations- New York, Washington, Illinois, California, San Francisco, LA
4. Operations Manager
An operations manager is concerned with the Management of designing and controlling the production process and redesigning business operations in the production of goods or services. He is responsible for ensuring the smooth and efficient working of businesses in terms of resources and customer requirements. Processes are one of the significant functions in an organization, along with supply chains, marketing, finance, and human resources. The operations function requires the Management of both the strategic and day-to-day production of goods and services.
Average Salary- US $92,484
Top locations- California, New York, Chicago, Los Angles
5. Technical Manager
A technical manager is an individual with advanced technical skills and sufficient managerial skills. He should be able to perform all necessary tasks related to company systems, including troubleshooting any technical issues and looking after the development and implementation of any system through all process steps.
Average Salary- US $98,672
Top locations- New York, Washington, Chicago, California
The average salary of a young graduate with a master’s in Engineering Management is $90,000. However, your pay scale depends on the college you graduated from and the firm recruiting you.
Work experience also plays a significant role in determining the salary of MEM graduates.
A person with no work experience is likely to earn $65,000 annually. However, an individual with some experience earns around $80,000.
6. Application Engineer
The primary purpose of an application engineer is to improve their client’s software programmes and systems. These enhancements could include creating new software structures, hardware components, or the optimization of current software programmes. The majority of application engineers work for application development organizations that work with a wide range of clients from various industries.
Average Salary- US $86,233
Top locations- New York, Washington, Chicago, California
7. Structural Engineer
The physical components of a construction project are planned, designed, and built by structural engineers. For example, the foundation, beams, columns, and arches are structural elements of a construction project. Before building begins, a structural engineer can calculate the weight loads of various structural elements, supervise worksites, and obtain the appropriate permissions. A structural engineer may need to get a specific state license in structural engineering, depending on where they want to work.
Average Salary- US $87,405
Top locations- New York, LA, Washington, Chicago, California
8. Automation Engineer
Automation engineers, like process engineers, are in charge of the methods and apparatus associated with automation, which refers to technological systems that operate with minimal human intervention. On the other hand, automation engineers are more likely to work on software systems and programmes than on actual manufacturing equipment. Automation experts assist clients across various sectors in reducing computer mistakes, troubleshooting faults, and optimising software development. They perform quality assurance (QA) tests on software programmes, hunt down system faults, and install automation-related applications, among other things.
Average Salary- US $88,841
Top locations- California, New York, Chicago, Los Angles
9. Engineering Project Manager
A project manager who specializes in engineering systems and equipment is known as an engineering project manager. Engineering project managers and project engineers work together to guarantee that teams execute diverse engineering projects successfully. On the other hand, project engineers are in charge of the day-to-day duties associated with a particular project. Meanwhile, engineering project managers oversee the project’s overall or long-term operations, such as cost estimation, personnel assignment, and direct communication with the client regarding their expectations or project updates.
Average Salary- US $99,339
Top Locations- New York, Washington, Illinois, California, San Francisco, LA
10. Hardware Engineer
A hardware engineer, often known as a computer hardware engineer, studies, develops, tests, and monitors systems and devices related to computing hardware. Routers, processors, circuit boards, and memory devices are hardware used in computer devices and processes. A hardware engineer’s responsibilities include supervising the production of computing systems, resolving IT issues, assisting businesses with installing new hardware, and assessing computer products.
Average Salary- US $106,709
Top Locations- New York, Washington, Illinois, California, San Francisco, LA
Which companies are known to hire MEM graduates?
1. Google
Google is an LLC based in California specialising in artificial intelligence, search engines, online advertising, cloud computing, computer software, quantum computing, e-commerce, and consumer electronics. Google is known to hire graduate and postgraduate students for various positions in their company.
2. Deloitte
For recent graduates seeking a job, Deloitte is the most suited company. Deloitte India, a firm that specialises in audit, consultancy, advisory, and tax services, is known to hire MEM graduates with excellent salaries.
3. Apple Financial Services
Apple is one of the largest consumer electronics firms in the world, and it attracts top talent from all around the world. However, its technical interview procedure is challenging; just 2% of engineers who apply make it past the first round of interviews.
4. Microsoft
Microsoft is the multinational technology company based in Washington, making computer software, consumer devices, computers, and related services. It is one of the top companies known to hire MEM graduates for outstanding salaries.
5. Cisco
Cisco Systems is the IT and networking company that specialises in switches, routers, cybersecurity, and the Internet of Things, and whose logo appears on every office phone and conference equipment. As a result, MEM graduates can easily get placed in Cisco in various positions.
Conclusion
To understand the benefits of a course like Masters of Finance, it will be beneficial to compare it with a course that is highly preferred by students worldwide. Therefore, here we will be comparing Masters’s in Finance with a master’s in Business Administration.
Engineering Management is becoming one of the most popular courses for aspiring graduates. With so many students pursuing engineering at the undergraduate level, they usually take up MEM at the graduate level as they understand that managerial skill is the requisite of the market these days. A MEM degree undoubtedly gives you an edge over other technical job applications.
A MEM degree is itself enough to make you earn sufficiently satisfying. However, pursuing the same from a top international university is like the icing on the cake. Leading universities have top recruiters for placement who look for passionate and hard-working individuals. So it won’t be false to say that earning a MEM degree from a top university worldwide is guaranteed to make a six-figure salary.