MBA for engineers Free Essays

The time duration and requirements for the degree vary around the world but the main requirements include a few years work experience. It varies from 2 year programs to a 3 year program depending on the time one can give to it. Generally people opt for the degree after non technical degrees in order to enhance their job perspectives and get promotions at their current jobs. We will write a custom essay sample on MBA for engineers or any similar topic only for you Order Now The MBA trend at one point fully saturated the job market with such graduates. This caused a shift/ decline in the MBA trend which was picked up a few years back with engineers opting for MBA instead of their regular Master programs. Opportunity cost of a MBA degree: The total cost of an MBA, inclusive of tuition as well as two years of Oregon salary, has risen to ‘four times the post-degree starting salary in the past 10 years† according to Fortune magazine. And in the case of Stanford Graduate Business School, for example, Pedestrians calculates the total cost to be â€Å"a whopping $351 ,662. † Full-time Mambas, however, at least have the luxury of being able to focus on their studies exclusively and have unrestricted access to all the program’s resources (including career services). Part-time MBA programs are more affordable financially, but their principal cost is even more finite – time. For these students juggling work and school eaves very little time for having a social or personal life. The degree also takes longer to complete; typically three years in the United States. In addition, some MBA programs restrict on-campus recruiting to those with full-time status, and part-time students may not have access to all the programs or classes afforded their full-time counterparts. Executive MBA students, like their full-time counterparts, are able to complete their degree In two years. Admission, however, is usually restricted to applicants with more than ten years experience (Topmast. Coma’s survey determines the average age of students to be 37). The MBA is also the most expensive degree to obtain on the basis of tuition alone; for example, in 2012 the tuition to attend Wharton is $1 71 , 360. For most people, this is cost-prohibitive if their employer is not sponsoring the education. And, like part-time MBA students above, MBA students still have to wrestle with the time management problems of attending school while working full-time. Is MBA worth it for Engineers: When people have gone as far as they could with their present education, they have two options. Either they get an advanced degree or a similar degree as the previous one. This may be the answer to the people who want to untie working the same type of work and would like to continue in the same aspect of their career. But on the other hand, they have a second option and that is to get an MBA degree which will allow them to move up the career ladder. A lot of engineers wonder if they should seek an advanced engineering degree or an MBA degree. The answer to the question lies with the future goals of the individual. If they plan on Opening their own business one day, an MBA degree would be a valuable asset to them. Since looking at technical aspect of their degree is important for the business as well but the business requires more than that. It teaches how to look at technical skills from a business point of view and market the skills to prospective clients. Since one of the skills taught in an MBA is financial skill, it helps the technical background graduates manage their business with a keen sense of the market. Engineers excel at being able to stay focused and solve problems with a limited set of resources in a logical and practicable manner. When coupled with the ability to â€Å"talk the language of business† this combination is invaluable to an employer. On the value of the MBA education, Didgeridoo explained that there is a need for people who speak both the technical engage as well and the C- level language. Since engineers are given a problem state, a set of limited resources and are told to find a way out from the very beginning, they are able to work more effectively in MBA. He also said that his engineering background gave him a huge advantage in non technical fields while he was in his MBA program. Putting himself among people with non technical background, he realized that he had an overall advantage by allowing him to think like an engineer, having the language of an MBA. In a Wall street journal article, written by a Havana strategy roofless Julie Wolf, it was mentioned that with there maybe implications for middle managers looking to advance their careers but are being held back by the lack of managerial skills/ experience. Also in it, it was mentioned that corporate succession plans might favor functional experts who have managerial capabilities and at least general managers who are willing to work with the highly technical/ specialized counter parts. A candidate with both the technical expertise to understand the nuts and bolts of the product development cycle as well as the ability to see the wider marketing or striation picture is highly desirable. If you are looking to move â€Å"out of the lab coat† and into the corner office, obtaining an MBA may be just the ticket. If one is a candidate with the technical expertise to understand the mechanics of product development as well as see beyond the current market picture is available, then that candidate will be high desirable. Also if someone is looking to change their careers or move out of the laboratories, MBA might just be the ticket for it all. Since engineers overall act as managers at times, one can easily think about shifting the career focus if they think they have cached their maximum promotion level with the engineering degree. Some times it is not all about doing your own job but about getting others jobs done. This is one of the basic managerial skills which is learned outside an MBA degree. Having an MBA degree just provides valuable skills and a chance to shift the career away from the technical field towards managerial roles or acting as a bridge between the technical and non technical people. This characteristic is one of the most desired in the market currently since the HRS department requires technical assistance from time to time. Having both the kills can enable anyone to bridge the gap and earn more than before. For engineers, there is hardly anything challenging in the MBA program as they have already come from a curricula which involved a lot more technical study and advanced mathematics than a regular MBA program. Contradictions to the choice: People when asked about the requirement for promotion to management positions often reply that experience is the single most important factor. But according to Jay Rogers of Rangelands Engineering says that placement requests for an MBA graduate are as low as 0. 6% as compared to Engineering Masters degree and BBS in Engineering which comes close to 1. % and 97. 7% respectively. Also according to the same dataset applied above, the average salary of an MBA is less than that of an Engineer. So we can say that MBA can open some doors but engineering have fewer doors and choices which is why the salaries are high A lot of companies also believe that MBA is an expensive hire. Software and computer engineering is one area that is dominated with the start up culture with the idea that MBA is a hindrance instead of a help. A lot of companies also hold bias against the Mambas and how they try to run organizations. Similarly, top companies who have understood the importance of an MBA tend to hire people from the top schools. So if someone wants to shift careers, they will have to choose the top MBA programs since top companies have an image to take care of. On the other hand, people who just want to enhance their job skills or shift their positions in the same organization they are working in, any MBA degree is acceptable. It all depends on how one visualizes their future and what do they expect from the degree since all that is taught in an MBA program is something that you an learn by studying a few good books on the subject. MBA culture in Pakistan: MBA picked up the trend relatively late as compared to the rest of the world. By the time the trend of engineers opting for an MBA was picked up in Pakistan, the market was already saturated with the traditional Mambas. The engineers, who picked up the trend wanted job enhancement and promotions in their respective jobs. The study further details about what prompted the trend to emerge in Pakistan. According to the research we did, we came across two major reasons why people were opting for an MBA. How to cite MBA for engineers, Papers