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Masters in Engineering Management Salary

Everyone aims to have a strong and successful career in whatever field that they are working in. There are many factors which affect how well a person would do and how far they will go in their career. One of these factors is their educational qualification. In today’s time, the one course which has shown much promise in the field of business is Masters in Engineering Management. This course helps develop professionals who have knowledge of managing a technology-driven business. In the following article we would look into this field of study and how much can one end up earning as a holder of Masters in Engineering Management.

Masters in Engineering Management Salary intro

What is Engineering Management?

The world has seen much technological advancement in the past two decades than it has seen in the last fifty years. We have become a tech-dependent civilization in every aspect of our lives, from personal to professional. One just won’t be able to function in this world without relying on technology. Industries today rely, to a large extent, on engineers for their businesses. many believe this to be true for industries involved with using heavy machinery, but forget that every workplace today has one of the most complex machinery on every tabletop. Though engineers work in ahands-on capacity, there is a need for professionals in a managerial post in order to bridge the gap between the higher-ups and engineers.

Masters in Engineering Management is one course which has come into light quite recently but has seen a rise in popularity. The course was designed in order to teach students who can work towards finding synergy between business mind and technically minded professionals, leading towards a well-balanced institute. What is to follow is an overall look into the prestigious course of Masters in Engineering Management, how it may benefit students and all that it has to offer in the form of job titles and salary.

Top Colleges for pursuing Masters in Engineering Management

Masters in Engineering Management is a course which can be taught by universities with a well-trained faculty and resources. Following are some of the top universities who offer Masters in Engineering Management:

  1. Kings College London
  2. Massachusetts Institute of Technology
  3. Cornell University
  4. Columbia University
  5. McGill University
  6. University of Ottawa
  7. University of Windsor
  8. University of Iowa
  9. Tsinghua University
  10. Brunel University
  11. National University of Singapore
  12. Lehigh University
  13. North Carolina State University
  14. University of California, Berkeley
  15. University of Southern California
  16. University of Michigan
  17. Duke University
  18. Stanford University
  19. Johns Hopkins University
  20. Purdue University

Jobs and Salaries after Masters in Engineering Management

Masters in Engineering Management Salary dollars

Product Manager ($82,000 – $119,000)

Product managers do a very important job for businesses involved in sales of products. When a product is finalized for sale, the product manager comes up with the business strategy for the production, finalise functional requirements and manage the launch of the product.

Systems Architect ($107,276 – $134,505)

When technology is sold to the public, it is one sleek looking machine and the feats it achieves are astonishing. However, the machine is made up of millions of parts which work in perfect sync. The job of the systems architect is to identify the separate parts of the final product and task different engineers to work on the separate parts.

Client Services Analyst ($70,522 – $130,000)

There is a need for individuals who have the required technical knowledge and also have well-developed soft skills to actively deal with clients. Client Service Analysts are tasked with helping understand the customers need, collect the data and formulate from it the needs of the customer.

Design Engineer ($70,000 – $119,00)

Constructing a new device or product is very difficult if people do not have anything new to create. A Design Engineer is responsible for developing ideas for new products and the systems that would be necessary to construct. Their job would also involve modifying an already existing product to perfect them or correct some error.

Plant Manager ($136,736 – $186,998)

The plant manager is responsible for monitoring daily operations of the plant or factory. Such a professional will be involved in the process all the way from the beginning of production, have their eye on manufacturing systems and make sure all the policies and quality-related bylaws are being met. They will be responsible for developing a process which would help maximize safety, quality, and overall productivity.

Technical Consultant ($80,446 – $114,203)

Consultants are the nomads of the business world. They are not tied down by any entity and can work with whomever they please. Your job as a consultant would be to provide expert advice and suggestions to the higher-ups regarding the project that they are working on. The job gives you an opportunity to work on varying types of projects and create a vast network of professionals.

It goes without saying that, even though Engineering Management is a booming industry, there are many factors which would affect the amount of salary a professional may gain. Following are some of the factors that will affect the salary being paid to the professionals.

Factors Affecting Salary in Engineering Management

It goes without saying that, even though Engineering Management is a booming industry, there are many factors which would affect the amount of salary a professional may gain. Following are some of the factors that will affect the salary being paid to the professionals.

Firm or Company

The market today is saturated with companies all of which are responsible for providing the same type of products or services to their customers. Of these many, there is only a handful who are considered to be the best of the best and the first name which comes to your mind when talking about a product. if a professional end up getting hired by one of the elites they would end up with a large paycheck. 

Country

This factor is very important as it looks into the most important factor in business; supply and demand. In order to make a profit doing what one does, it is necessary to have a theoretical business setup in a location where there is a need for them. If one tries to sell ice in the Antarctic, they are bound to lose their business within the first few hours. Therefore, if working at a global location where your talents are in demand the professional will be paid handsomely.

 

Work Experience

Most companies divert a lot of resources like professionals and money in order to train newly inducted employees. This is considered to be non-beneficial to the company. However, a professional who has carried the same type of work in the past and have amassed experience is considered to be an important asset. Not only does this work experience increase their chance of getting hired, but it also gets them paid more. 

Job Title

No reputed company will hire a freshly graduated novice and give them a highly respected managerial post as they are not capable, by qualification and experience, to handle such a responsibility. Such a post will neither have a high salary. Therefore, the working title that is allotted to you will play an important role in how much one gets paid.

Conclusion

We have seen above how Masters in Engineering Management can help a professional create a strong profession for themselves. Not only is the field much in demand today but the professionals and their skillset are respected enough to pay respectable salaries.

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