Jobs after Masters in Engineering Management
It is no secret that every young graduate aspires to have a stable professional life. As a fresh graduate who just got out of college, my only dream was to get placed in a top-notch MNC and earn a high pay-check. However, in recent times, one needs to be multi-skilled in order 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 towards in order to earn a high salary after graduation. Bit, 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 and 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 along with the know-how of business and Management. This degree is typically designed for engineers who possess a knack to lead and manage is a professional setting. Ina layman term, Engineering management is a multidisciplinary field that involves the application of business methods and management expertise to technology companies and products or engineering processes.
Career and Jobs after Masters in Engineering Management
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 major 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 $70,887
Top Locations- New York, Washington, Chicago, San Francisco
A project manager is a professional who is responsible for the planning, procurement, and execution of the project in any definite undertaking. They do not directly participate in the project making but strive to maintain progress, mutual interaction amongst co-workers and ensures to minimize failure of the project by analyzing risks involved promoting maximum profit and minimum loss.
Average salary- US $73,487
Top Locations- New York, Washington DC, California, Chicago, Illinois.
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 $64,734
Top Locations- New York, Washington, Illinois, California, San Francisco, LA
An operations manager is concerned with the management of designing and controlling the process of production and redesigning business operations in the production of goods or services. He is the one responsible to ensure the smooth and efficient working of businesses in terms of resources and customer requirements. Operations are one of the major 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
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 also look after the development and implementation of any system through all steps of the process.
Average Salary- US $98,672
Top locations- New York, Washington, Chicago, California
Average Salary after MEM
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 major 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.
Here is a chart depicting the growth and salary of engineering management graduates in coming years-
|Education Field of Study||Engineering management|
|Key Skills||Communication, organization, product development, innovation, technical skills|
|Job Growth (2014-2024)||4% ( engineering managers)|
|Average Salary (2019)||$90,000 (engineering managers)|
In order to understand the benefits of a course like Masters of Finance, it will be beneficial to compare it with a course which is highly preferred by students all over the world. Here we will be comparing Masters in Finance with a Masters in Business Administration.
Engineering Management is turning out to be 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 provides 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. Top universities have top recruiters for placement who look for passionate and hard-working individuals. It won’t be false to say that earning an MEM degree from a top university worldwide is a guaranteed pavement to earn a six-figure salary.
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