Having interviewed a number of young engineers over the last few years, I find in nearly every interview the discussion of getting an MBA or a Masters of Engineering Management degree becomes a topic of interest. As a result, I’ve elected to share my story and highlight several points related to each degree.
My Story: Why I chose the Masters of Engineering Management
Though I would love to tell you I selected the Masters in Engineering Management approach with the a grand plan in mind; however, the truth is it was a relatively easy way for me to check the “management degree” box. My thought process was in the event that I wanted to branch out away from engineering (e.g. Project Management, Operations, etc.) the Masters of Engineering would provide me with credibility to get me past the first HR filter.
When I say easy, I was quite lucky in that the graduate school where I obtained my Masters of Mechanical Engineering , also had an Masters of Engineering Management (MEM) program. The MEM program allowed for students to transfer several graduate level courses in other disciplines towards the MEM degree. Additionally, while completing my Mechanical Engineering (ME) degree I had taken several MEM courses as electives. The MEM electives and ability to transfer several 500-level ME provided me with ~40% of the credits I would need to graduate with the degree. In contrast, while talking to a counselor I learned that I would need to take a year of prerequisites in Accounting, Finance, & Economics to be eligible for an MBA program. Thus, I elected to take the path of least resistance.
My MEM degree consisted of courses in Six Sigma, Lean, Statistics, Operations Management, Decision Analysis, and Project Management. Like most graduate programs a capstone project was required. I elected to utilize a project I completed for a previous employer which inevitably became my Black Belt project I submitted for my Six Sigma Black Belt certification.
Masters of Business Administration (MBA)
MBA programs offer a broad range of courses in economics, marketing, finance, accounting and human resources. In most cases the curriculum is geared towards general management; however, specialized programs exist. MBA’s can be viewed as essential for individuals looking to go into investment banking, consulting (think McKinsey), private equity, and hedge funds (Source).
- Median Salary with 10 years of experience: $98, 626 (Source: Tufts University)
- GMAT is typically required
- Available to undergraduates from every discipline
- Prerequisites in Economics, Accounting, & Finance are generally required
Masters of Engineering Management
Engineering Management programs are tailored to individuals with backgrounds in science & engineering, though such a background may not always be required for the program. Course work typically includes: Project Management, Six Sigma, Operations Management, Finance, etc. If you graduated from an engineering program, the Engineering Management curriculum will likely bridge the gap between engineering school and the essentials needed for corporate success.
- Median Salary with 10 years of experience: $107, 765 (Source: Tufts University)
- Typically no requirement to take the GRE or GMAT exams
- May require science or engineering degree, though that is not always the case
So… Which Degree is the Best?
Both the MBA & MEM degrees have the potential enhance an individual’s career opportunities the selection depends on career aspirations. Individuals interested in executive level management (i.e. the C-Suite) will likely be better served by an MBA from a top level school, whereas individuals interested in product, program, or project management are likely going to find the MEM to be a more valuable experience.