As soon as graduation comes to an end, one question that immediately pops up in a student's mind is, "Should I do an MBA after B.Tech?". To answer the question, students must ask themselves first why they choose an MBA because it is in the trend nowadays. Pursuing an MBA after engineering has become a popular choice among engineers in the last decade.
As per reports, most of the toppers of management entrance tests like CAT are engineers from IITs. When B.Tech graduates evaluate the value of an MBA program, the best reasons that come to mind are developing business skills, increasing the number of opportunities, maximizing potential, etc. Now, here are the top 10 reasons to pursue an MBA after completing engineering.
1. Unemployment of Engineers
India is currently facing a massive skill gap problem between hundreds of engineers graduating every year. Still, only a few get employed as they lack the skills required in the industry now. Studies show more than 1.5 million engineers pass out each year, 80% are unemployed. This is where a Management degree comes in. An MBA after B.Tech is a safe and perfect pick as there is a placement guarantee. Most importantly, a lot of companies prefer management graduates over BTech ones.
2. Career growth / promotions
At MNCs, it is difficult to get promoted after some time on your capabilities alone. It would help if you had an MBA degree to go to the next level. A reputed management degree on your resume can take you far in your professional journey. Engineers opt for MBA as they realize that their promotions are stuck because they are only BTech graduates no matter how skilled they are. These days specific industries such as Investment Banking, Management Consulting heavily rely on such graduates.
3. Better Salary Package
One of the essential points that engineers consider while pursuing a Masters degree in Management afterward is to get a better salary package. The salary increments can be pretty high or marginal, depending on your experience.
A BTech graduate can secure an average of INR 5,70,000 per year. After completing MBA, they can earn upto INR 6,87,000 per year on average or maybe higher.
Indeed the salary package depends on the MBA college. Management degrees from one of the top B-schools in India and an impressive salary package always go hand in hand.
4. Field Training in MBA Course
MBA students are given a lot of field training or practical training with companies while studying, which ends up hiring them. Most of the B.Tech colleges do not provide their students with hands-on or real-life experience. Only an engineering degree without skill and experience is of no value in today's corporate world. While pursuing a management degree, you will always experience socio-economic scenarios, a wide variety of challenges, and a well-structured curriculum specially made keeping in mind today's industry.
5. MBA Expands Knowledge in Your Specialization
Pursuing an MBA degree in a specialization of your choices such as Finance, Marketing, Entrepreneurship, or International Business will increase the knowledge in this domain, helping to understand how businesses operate. So clearly, holding a business management degree in marketing, finance or IT, gives you the ability and skill edge over non-MBA degree students/workers.
6. MBA Helps You Choose New Career Paths
The subjects taught and introduced in a BTech course are pretty limited compared to an MBA degree. Such a program covers a wide variety of core disciplines such as Business, Finance, Economics, Statistics, IT, HR, etc., which are all in great demand. From Computer Engineers to Management and Financial Advisers to Investment Bankers – these are all possible because of a management degree.
7. Gaining Knowledge about the Industry
Once students get into the real world after their Engineering, they will realize how little they know about interest rates, stock markets, GDP, balance sheets, and so on. To be aware of the micro and macroeconomic growths and to be able to talk about it confidently, they need to broaden their exposure. Studying MBA is not the only way to do it, but it is a perfect way of doing it!
8. Developing Entrepreneurship Skills
In today’s competitive time, people are more willing to start their ventures. Instead of going for a corporate job, they consider digital start-ups and setting up their own company. With a business management degree to back you up, you can start this journey comparatively more easily.
From establishing a corporate identity, getting investors for the venture to the right technical expertise in marketing, such a degree will help one plan and optimize the resources most effectively and efficiently.
9. Networking with Industry Experts
When it comes to the corporate world, MBA is about its brand and networking. Right from the Management college, students get to be with people who are career-oriented and focused. They meet and interact with CEOs of companies, industry experts, highly experienced business gurus, and veterans, which will enhance their learning experience.
10. Personality Development
A business management degree helps you in personality development a lot. Not just subjective knowledge but also practical learning, development of soft skills of a student is also necessary.
Management Degree helps individuals develop their thought processes, fine-tune communication, and strengthen their logical ability. From discussions to debates and interviews, pursuing this degree enables aspirants to achieve the personality standards required in companies.
Whether you are a software programmer, a logistics officer, a businessman, a lawyer, or an operator, you can pursue a management degree from any stream and get the skills developed. Pursuing such a course is an expensive and extensive process that involves a lot of money, time, and effort.
We hope the above 10 points helped you to choose whether to go for an MBA or not. After all, it is your life; you should realize how it could make a difference in your life. So, engineers are always suggested to identify their career goals and realize their aspirations accordingly.