There comes a time in every Engineer’s life when he/she is faced with one of the toughest and confusing choices of life – now that graduation is over, what to do next?
While many of you will readily say M.Tech or MS, the choice is not that simple. There is a third and much flashier option, an MBA degree. After class 12, Engineering (B.Tech degree) becomes the clear choice for a whol e flock of students due to many obvious reasons – peer pressure, the parents’ wishes to see their child becoming an Engineer, the attractive prospect of job placement, and so on.
Surprising as it is, did you know that only 30% of engineers are interested in a technical job in their core field, while the remaining 70% get inclined towards other areas including marketing, management, and finance?
It is only after completing four years of meticulous studying that most of these students realize, Engineering isn’t their cup of tea. That is when Engineering students face the dilemma of choosing between MS, M.Tech, and MBA degree. So, then, how does one sort this dilemma?
MS or M.Tech or MBA degree – Which is the right fit for you?
Basically, the choice boils down to one thing – what do you want to do in life?
To answer this question, you need to consider your interests and life goals. Let us make this a little simpler for you. Say, you are deeply passionate about Engineering, and technical procedures and research-oriented jobs interest you, an MS/M. Tech degree would be perfect for you. An MS/M. Tech degree is best-suited for aspirants who possess a technical and analytical bent of mind. Also, these are specialization courses, as in you can choose to get an MS/M. Tech degree in specialized courses like Computational Finance/Computational Linguistics/Computer Science and Engineering/Mechanical Engineering/Chemical Engineering/Environmental Engineering/Geoinformatics/Structural Engineering, to name a few.
To enroll for MS / M.Tech in reputed institutes in the country (example, IIT), you must successfully pass the GATE entrance exam.
Although an MS/M. Tech degree can help you get well-paying jobs in reputed companies or research institutions, the demand for professionals with an MS/M. Tech degree is much lesser compared to those having an MBA degree. Yes, that is the hard truth – most employers want qualified professionals with an MBA degree from a reputed B-school.
Unlike the 2 technical courses mentioned above, MBA is a business and management-oriented course. So, while you will learn the various aspects of business and management such as Finance, or Marketing, Operations Management, or Human Resource Management, or Entrepreneurship, or Consulting, you will also develop leadership, managerial, and communication skills.
An MBA degree is perfect for those who wish to get into the corporate sector and are also willing to climb up the corporate ladder fast. As a matter of fact, it is practically impossible to bag managerial roles in the corporate sector without an MBA degree. Also, to climb up the career ladder in any institution/organization, you must possess three fundamental skills – technical, business, and management skills. For students who bear an aptitude for managerial and entrepreneurial skills along with an inclination towards business, an MBA program is like a match made in heaven. And if you are someone who’s looking to break the shackles of Engineering and explore the exciting world of business and management, MBA is the way to go.
There are various formats of MBA, which differ in terms of duration, fees, and eligibility. For example, if you wish to pursue Executive MBA, you can directly enroll for it, whereas if you want to do a full time 2 years MBA, you need to clear an entrance exam and accordingly you get to choose your preferred B-school.
Job Prospects for MS/M.Tech
After acquiring an MS/M. Tech degree, you can bag jobs both in the corporate sector and in academics as well. While in the corporate sector, you will primarily get technical job roles such as Junior Engineer, Senior Engineer, Technical Consultant, Project Manager, etc., in the academic sector, you get teaching and research-oriented job roles like that of a Professor or a Research Associate. You will also find plenty of job opportunities in research and development organizations like BARC, ISRO, and NTPC, as Research Scientist, Project Associate, Research Analyst, etc.
Job Prospects for MBA
After getting an MBA degree, you will find job opportunities in Banking and Finance, Information System Management, Management Consulting, Data analytics, and Entrepreneurship. The job profiles will largely depend on your specialization (MBA in Finance, MBA in Marketing, MBA in Human Resource Management, MBA in Operations Management, etc.). So, for instance, if you are an MBA graduate with specialization in Finance, you will handle and manage all the financial affairs of business including preparing project budgets, allocation of financial resources, financial accounting, and so on.
By now, you have a fair understanding of what MS, M.Tech, and MBA are all about and the job prospects they have to offer. Coming to the salary, these degrees basically offer jobs with high-end salary packages. However, the salary scale is a little higher for those with an MBA degree. This is because Engineers with a solid technical background possessing an MBA degree have expertise in both technical and business & management domains. This makes them more appealing to potential employers.
Furthermore, MBA is a highly versatile degree that is recognized all around the globe. It is versatile because unlike specializations that focus on just one area of interest, MBA encompasses a variety of topics including Finance, Marketing, Business Analytics, Statistics, Economics, and HR, among other things. Naturally, having this degree would offer you a wider playing field – you can look for jobs across the various parallels of the corporate world. Another critical aspect of an MBA is that you get a lot of industry exposure while working on real-life industry projects and interacting with top industry leaders.
Every specialization comes with a unique set of advantages, and ultimately, the choice between MS, M.Tech, and MBA will depend on your interests and career goals.