Sounak Banerjee Associate Content Manager
Associate Content Manager
MBA after Engineering is an ideal option for students to accelerate their career trajectory, transition to a new industry, and become an entrepreneur. Several students think about whether MBA after Engineering is an ideal choice or not, what are the benefits of pursuing an MBA etc.
One can pursue MBA after engineering with or without any work experience. MBA course is a 2-year graduate-level program that can be pursued after completion of a bachelor's degree. An engineer passing a top engineering college can earn up to INR 11 LPA. On top of that, if they complete an MBA from a Top MBA college in India, their salary can shoot up to INR 18 LPA. Candidates who prefer to study MBA after engineering can also pursue an integrated MBA course such as B.Tech with MBA.
Candidates who have done an MBA after Engineering can find jobs in areas of Marketing, IT, manufacturing, finance, banking, foreign trade, logistics, etc. The average salary of an engineering graduate after pursuing MBA ranges from INR 8 lakh to 28 lakhs per annum.
Table of Contents
2.1 MBA after Engineering: Eligibility Criteria
3.2 MBA in Operations Management
3.3 MBA in Finance
3.4 MBA in IB
Top 6 Benefits of MBA after Engineering
Choosing an MBA course after B.Tech is quite trendy. According to the statistics, around 75% - 80% of IIM students are from engineering backgrounds. Among them, around 30% - 35% are from the IITs and NITs.
The basic reason for choosing MBA after engineering is a better career prospect. Engineering graduates should pursue MBA because of the following reasons.
- Better Pay Package: According to the Glassdoor website, engineers in India earn an average salary of INR 500,000, whereas MBA earns around INR 625,000-INR 14,88,000 per annum. Thus, there is an appreciation of the salary. One example can put the debate in perspective, an MBA graduate from a Mechanical Engineering background in India can earn an average salary of INR 12,00,000 per annum. But a mechanical engineer can earn around INR 350,000 per annum.
- Companies Prefer an MBA after Engineering Degrees: Engineering graduates are good with numbers and calculations and are useful in the area of finance and Operations. The engineering graduates on the other hand have gone through a four-year graduation process as compared to 3 years of graduation of say B.Com or BSc. This is because previous experience with software or operations can be exploited by recruiters.
- Develop Managerial Skills: If a person has both managerial and technical skills, then they could make a great leader, and can easily lead a team of engineers. With the development of one extra skill, an engineer can get promoted to the position of team leader or project manager. Therefore engineers while working full-time, they try to pursue an executive MBA to get a promotion in their field.
- Climb the Corporate Ladder: There is a hierarchy in the corporate world. The higher you are in the hierarchy, the better position and the better package you may have. In an organization, an engineer gets the title of an employee and thus remains in the lowest section of the hierarchy. To move up they can take up an MBA/ PGDM and move to a managerial position.
- Personality Development: Engineers are often introverts and technical geeks. The curriculum of an MBA will help them to be outspoken and help them improve their communication skills. This will be helpful in teamwork, negotiation & persuasion skills, decision-making, etc.
- Global Recognition: An MBA degree after Engineering having 2 well-recognised degrees. Recruiters prefer MBA after Engineering graduates and give a placement guarantee. It also helps to apply for managerial positions and gives a plethora of job options.
MBA After Engineering: Admission Process
Admission into the MBA course is based on the entrance examination. There are national-level exams like CAT, CMAT, MAT, etc and there are institutional exams like XAT, SNAP, etc to evaluate the students. The candidates applying for the MBA course will have to go through the following process:
- Registration: The eligible candidates will have to register for the national or institutional level entrance examinations like CAT, MAT, CMAT, XAT, etc.
- Entrance-Examination: The candidates will have to appear for the entrance examination and clear the minimum cut-off of the examination.
- Application: Once the results of the exams are out, the institutes will open their admission window. The institutes will also release their own cut-off. The candidates can apply accordingly to various institutes.
- Merit-list: The institutes will release their merit list based on the marks scored in the entrance examination and the rank achieved.
- GP/PI: The shortlisted candidates will be called for a group discussion and personal interview round. It will be the final round of selection.
- Offer Letter: The selected candidates will be sent a mail to accept the offer within the given time and pay the initial amount mentioned in the offer letter.
- Enrollment: Once the offer is accepted and the money is paid, the candidate is enrolled in the course.
MBA after Engineering: Eligibility Criteria
- After completing MBA, candidates must sit for an entrance exam such as CAT, MAT, ATMA, XAT, GMAT, etc.
- After qualifying for the entrance exam, candidates have to clear a GD and PI round to seek admission to the MBA course in top MBA colleges.
Top MBA Specializations after Engineering
There are various areas of specialization in that students can choose to do an MBA. In the first year, the course of all the MBA courses is the same. In the 2nd year, the course covers mainly the specialized branches. The most common MBA specializations offered by almost every B-school are Human Resources, Marketing, and Finance. As engineering graduates, the candidates can choose to specialize in the following MBA courses. Some of the best choices have been explained below.
MBA in Business Analytics after Engineering
MBA in Business Analytics is a field in which professionals are required to make use of digital inferences to transform data into business insight. It will train the students in both technical and management skills. The course will cover topics like data mining, decision models, visualization, data acquisition & preparation, customer analytics, etc.
| Particulars | Details |
|---|---|
| Average Total Course Fee | INR 5 - 15 lakh |
| Average Salary | INR 8 - 16 lakh per annum |
| Job Options | Business analyst, Data Analyst, Predictive Modeler, etc |
MBA in Operations Management after Engineering
MBA in Operations Management overlooks the company’s day-to-day operations and helps to deliver the product at the right cost and the right time. It is concerned with planning, organizing, and supervising in the context of manufacturing, production, and providing services.
| Particulars | Details |
|---|---|
| Average Total Course Fee | INR 4 - 17 lakh |
| Average Salary | INR 3 - 12 lakh per annum |
| Job Options | Purchasing Manager, Inventory Coordinator, Warehouse Operations Manager, Supply Chain Manager, Operations Consultant, etc |
MBA in Finance after Engineering
MBA in Finance deals with different aspects of financial studies and their application in the business and management setting. It prepares students for careers in accounting, financial planning, corporate finance, and other financial sectors.
| Particulars | Details |
|---|---|
| Average Total Course Fee | INR 3 - 8 lakhs |
| Average Salary | INR 4 - 10 lakh per annum |
| Job Options | Accountant, Investment Banker, Financial Advisor, etc. |
MBA in International Business after Engineering
MBA in International Business is a branch that focuses on providing a complete understanding of the changing international business scenarios, to analyze the impact of those changes in the domestic market. The objective of the course is to professionalize foreign trade management and increase export and import.
| Particulars | Details |
|---|---|
| Average Total Course Fee | INR 10 - 15 lakh |
| Average Salary | INR 5 - 12 lakh |
| Job Options | International Marketing Manager, Export Manager, International Business Consultant, International Finance Manager, etc. |
MBA in Technology Management after Engineering
MBA in Technology Management focuses on innovation and how to manage & promote it to its maximum. Some of the subjects taught are Technology Strategy, Technology Forecasting, Technology Road Maps, Technology Project Portfolio, etc.
| Particulars | Details |
|---|---|
| Average Total Course Fee | INR 0.5 - 8 lakh |
| Average Salary | INR 4 - 20 lakh per annum |
| Job Options | Systems Manager, Chief Technology Officer, Computer System Analyst, IT Manager, Analytics Manager |
Top MBA Colleges in India
The top MBA institutes ranked by NIRF Ranking are mentioned in the table below:
| Institute Name | Annual Course Fee |
|---|---|
| Indian Institute of Management Ahmedabad | INR 23 lakh |
| Indian Institute of Management Bangalore | INR 23.15 lakh |
| Indian Institute of Management Calcutta | INR 27 lakh |
| Indian Institute of Management Kozhikode | INR 10.05 lakh |
| Indian Institute of Management Indore | INR 10.44 lakh |
| Indian Institute of Management Lucknow | INR 7.77 lakh |
| Xavier Labour Relations Institute (XLRI) | INR 23.6 lakh |
| Management Development Institute | INR 18.8 lakh |
MBA from IITs
Candidates can also pursue MBA from IITs. the table below highlights the top IITs offering the MBA course for students who wish to pursue MBA after Engineering.
| Institute Name | Annual Course Fees |
|---|---|
| Indian Institute of Technology Delhi | INR 10.44 lakh |
| Indian Institute of Technology Kharagpur | INR 9.6 lakh |
| Indian Institute of Technology Bombay | INR 9.76 lakh |
| National Institute of Industrial Engineering | INR 8.2 lakh |
| Indian Institute of Technology Madras | INR 12 lakh |
| Indian Institute of Technology Roorkee | INR 8 lakh |
| Indian Institute of Technology Kanpur | INR 3 lakh |
| Indian Institute of Technology Dhanbad | INR 1.78 lakh |
Scope of MBA after Engineering
Taking up an MBA after engineering opens up various career options. Before the candidate was eligible to find jobs only in the technical areas but after MBA the candidates can apply for managerial roles. They can work in both the public and private sectors in areas like banking, IT, consulting, business, marketing, manufacturing, etc.
Some of the job options available for candidates who have completed an MBA post-engineering are:
| Job Profiles | Average Salary |
|---|---|
| Marketing Manager | INR 6,88,236 |
| Management Consultant | INR 11,45,695 |
| Investment Banker | INR 9,61,803 |
| Business Analyst | INR 6,04,431 |
| Financial Advisor | INR 3,68,14 |
MBA after Engineering: Placement Trends
The average and the highest salary package offered by the IIMs through campus placement has been mentioned in the table below:
| Institute Name | Average CTC per annum | Highest CTC per annum |
|---|---|---|
| IIM Ahmedabad | INR 26.13 lakh | INR 58.88 lakh |
| IIM Bangalore | INR 25 lakh | - |
| IIM Calcutta | INR 27 lakh | INR 60 lakh |
| IIM Lucknow | INR 26 lakh | INR 51 lakh |
| IIM Kozhikode | INR 22.5 lakh | - |
| IIM Indore | INR 12 lakh | INR 35 lakh |
| IIM Tiruchirappalli | INR 14.9 lakh | INR 25 lakh |
| IIM Udaipur | INR 19.09 lakh | INR 35 lakh |
| IIM Raipur | INR 15.2 lakh | INR 46 lakh |
| IIM Ranchi | INR 15 lakh | INR 22.3 lakh |
The average and the highest salary package offered by top IITs to MBA graduates are mentioned in the table below:
| Institute Name | Average CTC per annum | Highest CTC per annum |
|---|---|---|
| IIT Kharagpur | INR 19 lakh | INR 24 lakh |
| IIT Delhi | INR 16 lakh | INR 30 lakh |
| IIT Bombay | INR 20 lakh | INR 64 lakh |
| IIT Roorkee | INR 13.16 lakh | INR 62.28 lakh |
| IIT Madras | INR 14.79 lakh | INR 88.82 lakh |
| IIT Kanpur | INR 20 lakh | INR 60 lakh |
| IIT Dhanbad | INR 14 lakh | INR 48.28 lakh |
The average and the highest salary package offered by other top management institutes in India are mentioned in the table below:
| Institute Name | Average CTC per annum | Highest CTC per annum |
|---|---|---|
| XLRI Jamshedpur | INR 25.08 lakh | INR 50 lakh |
| MDI Gurgaon | INR 22.05 lakh | INR 40.50 lakh |
| S.P Jain Institute of Management and Research, Mumbai | INR 25.86 lakh | INR 44 lakh |
| Symbiosis Institute of Business Management, Pune | INR 20.14 lakh | INR 34.26 lakh |
| Great Lakes Institute of Management, Chennai | INR 10.14 lakh | INR 28.6 lakh |
| SVKM's Narsee Monjee Institute of Management Studies, Mumbai | INR 18.33 lakh | INR 38.57 lakh |
| ICFAI Foundation for Higher Education, Hyderabad | INR 7.88 lakh | INR 50.23 lakh |
| Indian Institute of Foreign Trade, New Delhi | INR 20 lakh | INR 1 Cr (International) |
| T. A. Pai Management Institute, Manipal | INR 11.5 lakh | INR 25 lakh |
| International Management Institute, New Delhi | INR 13.07 lakh | INR 22 lakh |
MBA After Engineering: FAQs
Ques. Is MBA after Engineering a good option?
Ans. Yes, an MBA is a good option after engineering. Most people choose MBA to accelerate their career trajectory, transition to a new industry, or to become an entrepreneur.
Ques. What is the best MBA specialization for engineering graduates?
Ans. Candidates who can change their field of study and want to learn skills in a new area can take up MBA courses in Finance, Marketing, International Business, etc. Candidates who want to do MBA in an engineering field can take up MBA in Operations Management, Business Analytics, and Technology Management.
Ques. What are the benefits of choosing an MBA after engineering?
Ans. There are various benefits of choosing an MBA after engineering. Some of them are:
- Improves job position and salary
- Helps to develop skills that are in demand in the industry
- Helps to fulfill the entrepreneurial goals
- Helps to develop a personality.
Ques. Who earns more, engineer or MBA?
Ans. According to the Universum India Talent Report 2019, the average salary of an engineer and an MBA holder is nearly the same. An MBA holder expects an average salary of INR 9,24,660, whereas an engineer expects around INR 9,45,852. Though as a fresher, the initial pay for an MBA graduate is higher than an engineering graduate.
Ques. How much does the salary of an MBA holder increase with experience?
Ans. An entry-level MBA holder can earn an average salary of INR 2.9 lakh per annum. This could increase depending on the institutes they graduate from.
- With 1 to 4 years of experience, the salary can go up to INR 3.9 lakh per annum.
- A mid-level MBA salary, with an experience of 5 - 9 years can go up to INR 7.2 lakh per annum.
- An experienced professional with 10 - 19 years of experience can earn an average of INR 14 lakh per annum and with more experience, they could reach up to INR 25.5 lakh per annum.
Ques. Is work experience necessary to get the highest paying jobs in India?
Ans. Yes, work experience is of utmost importance to get a high salary in the Management field. Candidates with 7-8 years of experience extract a handsome salary as they have an expertise which gives them an edge over the others.
Ques. What skills are necessary for an individual to secure the highest paying job in Management?
Ans. The skills required for some of the highest paying jobs in Management are excellent planning and coordination skills, ability to work under pressure in order to achieve targets, ability to communicate effectively and solve problems, excellent understanding of computers and information system, leadership quality, ability to resolve issues and coordinate with clients and communicate with the team, a flair for understanding upcoming marketing trends, ability to lead the team in order to achieve better outcomes etc.
Ques. How much can I earn after pursuing a career in Management?
Ans. After pursuing a career in Management, the salary varies as per the aptitude, work experience and skills of the aspirant. In the initial stages, an aspirant can earn around 3-4 LPA. However, with time or 4-5 years of work experience, the salary might rise and go up till 10,00,000 LPA. As the individual gets to the senior-most stage he/she can extract around 1,00,00,000 or more. The salary completely depends on the job profile chosen by an individual and the work experience or skills gained over the years.
Ques. Which are the highest paying job profiles in Management?
Ans. Few of the popular highest paying jobs profiles in Management are that of a Chief Executive Officer, Computer and Information Systems Manager, Marketing Manager, Architectural and Engineering Manager, Natural Sciences Manager, Financial Manager, Compensation and Benefits Managers, Sales Manager, General and Operations Manager and Public Relations Manager.
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