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What To Do After Engineering?

Do you know what you want to do once you’re done with engineering? If you are reading this article, chances are, you don’t or you have a slight idea of what you want to do, but you’re not confident about your choice. A lot of students are currently facing the same dilemma. Should I get a job? Or do I work on the startup idea that’s been bugging me for quite some time now? Or even better, do I pursue a graduate degree? If yes, then which one? MBA, MIM, MFIN, etc?

How about an M.tech then? Should I pursue it in my own country or go abroad? Arghh! So many options! However, not to worry, here are few options that engineering students can opt for once they’re done with their undergraduate degree. 

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These are a few options that engineering students opt for once they’re done with their undergraduate degree

A) Get a job. One can join an MNC or a startup. The benefit of working right after college is that you get additional time to dwell on your career choices. Also, a few tend to work on their startup ideas. If you feel you’re one of the select few who has the potential to build a profitable company, then this option is for you.

B) You can pursue a business degree like MIM, MBA, etc. Getting a master’s degree in business is one of the safest and highest ROI generating option among these bunch. If you have always felt stuck in engineering and were attracted to the business side of things, then this option is for you.

C) If you are not keen to go for a business degree then you can also get an MS/Mtech/MIS degree. This is a good idea for someone who always had a passion for engineering and in future, wants to pursue research and/or get hired for a technical position in a well-reputed organisation.

Apart from these options, some students decide to study for civil services exams. All in all, to an engineer, the sky is the limit!

Fun fact: Only 30% of engineers are interested in a technical job in their core field.

The remaining 70% begin to get interested in other sectors like finance, marketing, management by applying to various internships, taking part in extra-curricular activities or by working on a side project while still in college. And with this number rising further, more and more engineering graduates are pursuing a business degree to change careers.

So what are the benefits of pursuing a business degree right after engineering?

  • Having a business degree with an engineering degree opens the door to many opportunities. These days employers expect more from engineers. Engineers have also been tasked with taking care of management-related tasks apart from technical assignments. Engineers who possess key management skills are sought after by employers. This is where the business degree comes to the rescue.
  • If you’re a people person and feel stuck in a core technical job, then pursue a business degree. Shift your focus to a more people-centric domain like Marketing, Advertising, etc.
  • It is easier to create a bigger impact in business than it is by working in a technical job.

Once you’re done with your master’s degree you have access to more job opportunities in the field you like. Plus getting a substantially higher package never hurts.

 

After going through this guidebook, you’ll get to know-

1. What are the 4 popular Master’s degrees in Business?

2. Information on each degree

  • Introduction
  • Eligibility
  • Best colleges to target
  • Job prospects

The Master of Business Administration (MBA) is an internationally recognized degree designed to develop skills in business and management. Most MBA programs include subjects like accounting, economics, finance and marketing, Also, a few elective subjects based on ones’ interests. Top business schools generally require candidates to have a few years of work experience before starting an MBA program. However, there are plenty of schools in the US and UK that offer ‘MBA without Work Experience’ programs. Find them here. Note that though work experience is not mandatory for these schools, it is highly appreciated.

Students of MBA programs study the theory and application of business and management principles. This type of study equips students with knowledge that can be applied to a variety of real-world business situations.

Eligibility

  • First and foremost, you need to have a bachelor’s degree to pursue MBA. It could be a Bachelor’s degree in Engineering (B.E.), B.Sc, B.Com, B. A or in any other field.
  • Work experience of at least 4-5 years is required to get into the top universities. However, some universities are willing to consider exceptional applicants with no prior work experience.
  • If you’re planning to study abroad, you have to take either of the two, GRE or GMAT. Traditionally GRE was more popular among MS applicants and GMAT was the de facto standard for MBA courses. However, things are changing and many MBA universities have also started accepting GRE scores.
  • To test your language proficiency, many international business schools across the world accept IELTS and TOEFL scores.

Indians and the Chinese are the top two contenders when it comes to pursuing masters from abroad.

If you’re planning to pursue MBA from India, you’ll have access to top schools like IIMs, IIFT, NMIMS, etc. To apply to these colleges, you have to give their respective entrance exams. Like CAT for IIMs, XAT for Xavier’s, SNAP for Symbiosis, and IIFT for Indian Institute of Foreign Trade. You’ll also have to go through each university’s application process on their official website for any specific requirements. If selected, you also have to go through the university’s AdCom interview process which is usually the final round.

Top Universities

According to QS World University Rankings 2016, the top universities for business & management studies are,

  1. Harvard University
  2. London Business School
  3. INSEAD
  4. Stanford University
  5. University of Pennsylvania
  6. Massachusetts Institute of Technology (MIT)
  7. University of Cambridge
  8. University of Oxford
  9. London School of Economics and Political Science (LSE)
  10. Bocconi University

You can find the entire list here.

Job Prospects

More than 13,000 full-time students sought employment before graduating from 131 ranked graduate business schools in 2016. Eighty-eight per cent of those students were employed within three months of graduating. At the top 15 ranked institutions, 95% of recent alumni were able to find employment within three months.

The following job opportunities present themselves once you get the MBA tag.

Consultancy

Typically, a consultant will work along with companies and suggest ways in which they can improve performance. A consultant’s job is one of the most sought opportunities that you can get after completing your MBA. Also, it pays really well.

Management

Management careers for MBA graduates can come in a number of disciplines like Operations, Finance, Brand, etc. You are required to show strategic leadership, decision making and coping with major changes in your department.

Project Manager

A Project Manager is responsible for an assigned specific project. He has to plan, execute and deliver results on his project. This position might be within one company or span through multiple organisations.

Entrepreneur

Some choose the path to entrepreneurship. These individuals usually start their own consultancy firms, startup ventures or pursue freelance project management opportunities.

For a starting MBA graduate, one can expect at the low end of the scale around $39,000 with an absolute high end being closer to $186,000 a year.

Before we check out these Top 4 Business Degrees to pursue in 2017, why don’t you take the quiz given below to find out which degree would be the ideal fit for you?

Masters in Management is a postgraduate degree targeted towards people who are young professionals. It’s ideal for people who want to pursue masters from abroad immediately after their undergraduate.

You can do MiM in Finance, Marketing, Consulting, Entrepreneurship among many others. It’s a great idea to pursue MiM if you want to switch streams. Evidently, the MIM degree is compared with MBA all the time. There’s no winner in this comparison, as each degree has its pros and cons.

MiM is majorly a European phenomenon. However, US colleges have started taking notice of many well-ranked colleges such as Duke Fuqua, Michigan and Kellogg.  It is often named as Masters of Science in Management (MSc) or Masters in International Management. Also, PGDM offered by India’s esteemed IIMs is equal to the MiM degree. The duration of the MiM degree is somewhere between 10 months and 2 years, depending on the college.

Eligibility

Not everyone can gain a place to study a Master in Management (MIM). Business schools have certain admission requirements, and usually the higher their position in the rankings, the more selective they are.

  • MiM schools usually require their students have a bachelor’s degree, though some schools also accept diploma programs.
  • Most MIM programs do not require professional experience at all, while some may require applicants to have a small amount of professional experience – usually, two years or less is sufficient.
  • To test your language proficiency, many international business schools across the world accept IELTS and TOEFL scores.
  • Most universities require applicants to take the GMAT or GRE in order to apply to a Master in Management program.

Top Universities

Since MIM is a European Phenomenon, all the top 10 MiM universities are from Europe. These ranking are based on different factors like the location of Business Schools, average salary of graduates, tuition fee, etc. Below is the 2016 report for World’s Best Business Schools by the leading journal Financial Times-

  1. University of St. Gallen
  2. HEC Paris
  3. ESSEC
  4. ESCP Europe
  5. Rotterdam School of Management
  6. London Business School
  7. IE Business School
  8. WU (Vienna University of Economics and Business)
  9. WHU Beisheim & Esade Business School
  10. Università Bocconi

Apart from the colleges mentioned in the above list, there are many more top universities worldwide that provide MiM programs. Some of them being:

Job prospects

The prospects of both jobs and further studies are pretty good after MiM. MiM graduates can pursue PhD programs but most MiM graduates prefer to get employed upon graduation. This degree is well-suited for managerial roles. You can work as Advertising Manager, General Operations, Human Resources Manager, Public Relations Manager, Sales Manager, and Marketing Manager.

You will have ample opportunities in Finance, Consulting, Marketing, Business Development, Corporate Strategy, Business Intelligence and much more. Companies also hire MiM graduates for lucrative entry-level positions like analyst and graduate trainee in many blue-chip companies.

The average salary of a MiM graduate is around €50,000 per year but varies from one specialization to another. The starting salary for a MiM Marketing graduate will be around €45,000 while in Finance it will be €60,000.

Find out more information about Masters in Management by Clicking the button below

Masters in Engineering Management, is a degree for engineering graduates to build the link between engineering, technology and management. ‘Engineering Management’ is related to managing and optimizing the output of engineering processes using business management tools. The degree is associated with the management of the engineering process which makes good use of prior engineering knowledge. The core curriculum for Masters in Engineering Management covers marketing to finance, intellectual management and management law. The degree helps the candidate to acquire a perfect blend of engineering and management skills. MEM is popular among engineering graduates who want to get a higher management role in an organisation.

Eligibility

The MEM degree is the perfect match for engineering graduates who want to give a jump to their monotonously moving career. It is also famously known as the “Engineer’s MBA.” Eligibility requirements include –

  • You need to have a bachelor’s degree in Engineering or STEM discipline to pursue MEM
  • Applicant should be fluent in English and non-natives students should hold a valid TOEFL or IELTS score 
  • Some schools demand GMAT or GRE scores while they are waived for candidates with hefty work experience.

Top Universities

The course is offered in several top universities across the globe. This makes it difficult to determine the ranking of the business schools for this course. Here is a list of the top universities offering MEM:

  1. Massachusetts Institute of Technology
  2. Stanford University
  3. University College London
  4. National University of Singapore
  5. Cornell University
  6. Kings College London
  7. University of Manchester
  8. Columbia University
  9. Tshingua University
  10. Duke University

Job prospects

The candidate can be hired as an Application Engineer, Associate Marketing Manager, Automation Engineer, Business Analyst, and Clinical Specialist. Some of the companies hiring MEMs are:

  • Consulting Firms: Accenture, Deloitte, Capital One
  • Tech Giants: Google, Microsoft, Cisco, Apple
  • Financial Service sector: BNP Paribas, Citi Bank, Goldman Sachs, HSBC, State Street Corporation

The average salary for the students after completing the MEM degree ranges from $64,000 to $90,000 per annum.

Want to check out more details about Masters in Engineering Management?

The market for specialized master’s programs in marketing, finance, and a number of other business disciplines has never been stronger. One of the reasons for it getting popular is that students do not necessarily require work experience to be enrolled on any of its programs. Also, starting salaries are higher than those offered to individuals with only undergraduate degrees. At times, the salaries offered are comparable to those earned by an MBA graduate. Some of the best programs in specialized masters are –

A number of business schools, like Smith School of Business and Broad Graduate School of Management, are riding on one’s interest. They’re creating a whole new suite of MS degrees, sometimes as many as half a dozen or more. The vast majority of these students are either straight from college or just a year or two out of school. Most B-schools have interactive lectures and seminars along with team projects to provide a non-theoretic approach to the curriculum. “Case Studies”, “Real-life Company Issues” and “Simulation Strategy” exercises all form a part of their rather exciting coursework. The students are hungry for the knowledge these programs offer and want to distinguish themselves in the competitive job market.

Eligibility

The Admission requirements for these masters, is more or less, generic for all schools. For most of the MSc Programmes you need to fulfil the following criteria:

  • Management Aptitude Test- GRE/GMAT (This requirement, however, is also waived by certain schools and thereby is optional by many)
  • Well rounded, internationally Recognised Undergraduate Degree in a relevant field & transcripts
  • English Language Proficiency Test- IELTS/TOEFL/PTE. (Several Schools provide waivers for which you need to check the school website)
  • Not all programmes have mandatory criteria regarding work-experience like ESADE accepts fresh graduates into their programme.

Top Universities

MSc in Finance is one of the most sought after Specialized Master’s degrees and a lot of top universities have started offering it owing to it’s popularity.

The MSc in Finance Rankings per Financial Times for the year 2016 are as follows –

  1. HEC Paris
  2. ESCP Europe
  3. IE Business School
  4. Edhec Business School
  5. MIT: Sloan
  6. Esade Business School
  7. Essec Business School
  8. University of St Gallen
  9. Università Bocconi
  10. Skema Business School

You can also check out the list of Top 50 Business Schools offering MSc in Finance, Average MSc in Finance Salary and Class Profile here.

Job prospects

A student graduating from MSc in Finance can get can expect jobs mainly in Banking, Financial sectors, Audit, etc. After graduating with a Finance degree, one can get a job as a financial analyst, manager, personal financial adviser, etc. While having an MSc in Marketing can help you get a job as Brand Marketing, Media Associate, and Digital Marketing Specialist. Some of the top employers hiring from Masters in Finance are AIG, Citi, Bank of China, Moody’s Cooperation, etc. For Marketing, the top employers include E-BAY, Danone, LVMH, LinkedIn, Henkel, Google, Apple, Microsoft, Coca-Cola, etc. For the year 2015, an MSc in Finance graduates from top B-School starting average salary was 88,000 Euros.. While for an MSc in Marketing graduate the salary is 38,000 Euros.

MOST POPULAR SKILLS REQUIRED IN THE CURRENT MARKET

To boost your career, you need to acquire in-demand skills to enhance your knowledge and put yourself above other candidates. Here are some of the most in-demand skills you should learn:

  • Cloud computing: This skill is in high demand because of the increasing number of organisations moving businesses to the cloud. The Cloud engineers are individuals responsible for managing and developing these cloud computing systems. This helps end users to easily back up their data and store files. 
  • Artificial Intelligence: Experts in AI and machine learning are in high demand at companies that want to streamline their workflows. They build, test, and implement AI models and also maintain the company’s underlying AI infrastructure. 
  • Analysis: Organisations’ lookout for employees who are excellent in investigating a problem and finding an ideal solution. Analytical skills may also be in use in the day-to-day job. These skills are needed for brainstorming, analysing evidence, observing, theorising, incorporating knowledge, and making decisions based on various options available.
  • Mobile App Development: The mobile application industry continues to grow as tablets/smartphones become the medium of communication. Mobile application development is a process that involve creating applications, programming, and software designing for quick operating mobile devices. 
  • UX/UV Design: The trick to making the modern world work for users is user interface design. In this sector, there are a growing number of prospects for advancement. To satisfy the market demands, getting into this exciting sector needs the right skills and preparation. You should enrol in an online degree programme or join UX experts to obtain an edge.
  • Blockchain: The infrastructure that underpins cryptocurrencies like bitcoin—is rapidly being used by businesses to minimise prices, cash flow gaps, etc. Blockchain enables businesses to collaborate and conduct trades without the need for banks or other financial institutions.
what to do after engineering

Popular Certification and Professional Courses after B.Tech

  • Information Security & Ethical Hacking
  • C, C++, JAVA, NET., SQL
  • Software Testing
  • Web Designing
  • Networking Professional
  • Robotics
  • Very-Large Scale Integration
  • Embedded Technology
  • Borland Database Engine (BDE) 
  • Nanotechnology
  • Electrical Distribution
  • Six Sigma
  • Statistical Quality Control (SQC) Courses
  • ISO Lead Auditor Courses
  • Technical Drawing and Designing
  • Interior Designing
what to do after engineering

TOP RECRUITERS FOR B.TECH GRADUATES

The below are some of the top recruiters for aspirants with B.Tech engineering degrees who choose to work in the B.Tech engineering industry:

  • Wipro
  • MPhasis
  • NIIT Technologies
  • IGATE
  • Cognizant
  • Capgemini
  • Accenture
  • Mindtree
  • ACT Networks
what to do after engineering

Conclusion

Pursuing a business degree after engineering is still debated by most, but no one can deny the fact that having a business degree does open up new career opportunities and plenty of benefits to the average person.

ROhit mim cover

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