Master of Business Administration (MBA) is a postgraduate degree program that provides advanced business and management training. MBA programs emphasize the development of an individual’s analytical, critical thinking, and decision-making skills.
What do they actually teach in MBA?
So the syllabus of an MBA course comprises a variety of subjects:-
- Including ethics
- Analytics
- Market research
- Operations management.
This is not the case with MEM, where students learn not only the general subjects taught in MBA but also cover topics like System Architecture, Risk and Operation Analysis, Development Management, and more.
Is MBA the right course for you?
Whether you should choose MEM or MBA will depend on your long-term career goals and interests. Candidates must also be aware of the admission requirements, program curriculum, career outcomes, and budget while choosing a program. Some points you can keep in mind when it comes to choosing between MEM and MBA are as follows:
- While an MBA program is open to graduates from any discipline, MEM is strictly for science and engineering graduates with a stronghold in Physics, Mathematics, Chemistry and Mechanics.
- MBA programs are more expensive than master’s in engineering management programs. MBA programs are also designed for candidates with solid professional experience whereas MEM programs are designed for young candidates with no or limited work experience.
- MBA covers a wide variety of topics and may or may not focus on technology. An MBA is ideal if you want to move to higher-level business management and leadership roles. However, if your interest lies in technology and technical areas along with a passion to develop strong business and decision-making skills to solve complex problems, MEM is the program to go for.
Hence, students must carefully check all program details before making a choice. Research well. Connect with students, faculty, and alumni of engineering management and MBA programs and check out the pros and cons, work-life, careers, etc. and decide accordingly. Check out in detail, MEM vs MBA.
What are the typical jobs after MBA?
Your MiM voyage culminates in a world of career possibilities. Graduates with under 2 years of work experience often secure entry-level roles at renowned firms. Expect opportunities in:
- Financial Analysis
- Strategy & Consulting
- Private Equity (PE) Analysis
- Digital Marketing
- Project Management
- Business Development
- Financial Controlling
- Operations and Supply Chain
- Impact Investing
- Business Analytics
- Product Management
Salaries and locations for these roles vary, promising a compelling starting point for your career trajectory. To get a detailed insight into the potential salaries after completing your MiM, check out our dedicated guide on Salary after MiM.
Pros of MBA
1. Rising Demand
According to a 2019 study conducted to gauge the skills and demand in industry, 53% of engineering companies fear a shortage of engineers will hurt their business.
2. Opportunities for career advancement
Engineers working in chemical or aerospace engineering can become Engineering leaders by following the logical path. Engineers are often bound with complex projects that can take longer to complete and become monotonous, which reduces their creativity and enjoyment.
3. Keep up with technology
A variety of nontechnical skills and experiences are essential to show senior management individuals you are capable of managing others.
4. Take your innovation to the next level
In recent years, technological advances such as artificial intelligence and machine learning have enabled equipment to operate more efficiently. In the engineering sector, employers seek highly effective leaders capable of responding positively to disruptions and managing changes to impact the business significantly.
Cons of MBA
Management itself is hard because humans aren’t evolved for management. There are several basic management behaviors that humans don’t naturally do. Here are some of them:
- Relating to people in an ego-less collaborative manner.
- Making decisions out of logic or data.
- Blending logic and data with intuition.
- Criticizing people only in private.
- Criticizing people at all.
- Firing underperformers.
- Favoring people for objective performance rather than friendship/familiarity.
- Integrating unpopular criticisms into a balanced worldview.
Top MBA Programs of the World
| MIM Ranking 2023 | University Name | Location |
|---|---|---|
|
1 |
RWTH Aachen University |
Aachen |
|
2 |
Content |
Munich |
|
3 |
Massachusetts Institute of Technology (MIT)
|
Cambridge, Massachusetts |
|
4 |
Stanford University
|
Stanford, California |
|
5 |
Content |
London |
|
6 |
University College London (UCL)
|
London |
|
7 |
University of Melbourne
|
Melbourne, Victoria |
|
8 |
University of Toronto
|
Toronto, Ontario |
|
9 |
McGill University
|
Montreal, Quebec |
|
10 |
Monash University |
Melbourne, Victoria |
Each MBA programs is designed uniquely and can be distinguished by excellence in education, faculty, and outcomes. Here is a list of the Top 10 MBA programs from ft rankings 2023,
How Much Does It Cost to Study MBA?
Although tuition fees for MBA degrees slightly increase each year, European business schools are still more affordable compared to American business schools. Tuition fees at business schools all over Europe range from 9,800 to around 35,600 EUR. Executive or international MBA courses can have higher fees.
Our successful MBA Admits
