It is a substantial cost and a huge decision regarding your career. If you have anything to add, please feel free to leave a comment down below, and sign up to our newsletter for more of the same! Mechanical engineers looking for a pay increase due to the new MBA that they have obtained might be misinformed to a certain degree. This will consist of details of the finer points of mechanical engineering that are only available through a mechanical engineering degree. Job type. We discuss the positives and negatives of completing an MBA after you mechanical engineering degree. Catalog, Find a Jobs The total cash compensation, which includes base, and annual incentives, can vary anywhere from $65,882 to $77,975 with the average total cash compensation of $71,429. Your email address will not be sold or shared with anyone else. Getting an MBA is like adding another tool to your toolbox as a mechanical engineer, once you can combine your uncanny ability to problem solve with thinking and speaking in business terms you will be ready to take on the world! Salary estimate. Please try our salary wizard to explore how other factors like location, Years of experience and number of direct reports can impact your base pay and bonus. Easily apply. negotiate with confidence. Benefits If you are hanging around the lower levels of the current engineering company that you are working at, and are looking for a way to enter the world of management, an MBA could be the way to achieve that. Skills It will back up your argument that you are serious about switching fields, even if the employer is doubtful of your sincerity. Companies Requirements. This will also give you a chance to consider the direction of your career and see what you do and don’t enjoy. A lot of graduates that apply for postgraduate degrees, MBA included, think that there are no good opportunities in their field due to extenuating circumstances such as the economy, downsizing or financial instabilities, and by completing an MBA is the way to stand out from the crowd. Either way, this is a decision that the candidates will need to make, and if they do pursue the MBA they will want to feel confident that it is worthwhile. Young graduates holding an MBA may be looked at by employers as an expensive hire, they may not be worth the cost because of their inexperience and lack of real world experience. An MBA at a well respected college such as Harvard or Stanford will cost you above $60k per year on average, these are just the fees and does not include housing, books or any other expenses. Some schools have actually advised students to budget $200,000 a year for their education, this money could be spend improving your knowledge in other ways, such as taking online courses on a platform like LinkedIn Learning, which offers courses in business and tech among others, and the first 30 days are free. This allows you to think like an engineer while having a business mindset, and if you are looking for a position that requires financial forecasting and budgeting this level of a business education is very beneficial. A 2012 survey conducted by the American Society of Civil Engineers and American Society of Mechanical Engineers indicates that the median salary for an engineer with M.S. From numbers generated by an engineering staffing firm, the average salary of the position asking for an MBA is $131,000, and the average salary for a position requiring a masters of engineering was $137,000. Job title: Average Salary: Program manager of engineering: $110,000: Senior project manager of engineering: $121,400: Solutions architect: $135,900 : Engineering managers (less than five years of experience) $91,000: Managers (10 to 20 years of experience) $119,000: Engineering project manager: $85,300: Why MBA finance after Engineering? Industries There is one degree that gets a lot of attention when discussed in relation to post-grad mechanical engineering. An MBA may be valuable to you as a mechanical engineer if: An MBA may not be valuable to you as a mechanical engineer if: Going to school for any sort of degree or education is a huge investment of time and money, be sure to extensively go over the pros and cons of any decision that you make. Please try our salary wizard to explore how other factors like location, Years of experience and number of … Mechanical engineers looking for a pay increase due to the new MBA that they have obtained might be misinformed to a certain degree. A mechanical engineering degree is specifically targeted towards your chosen area of study, while an MBA can be described as being quite a vague option. Industries What is an engineering degree worth? Salary estimate. These courses can be taken online through downloadable MPEG-4 files or streaming video. 30+ days ago. Stay competitive with the world’s most innovative compensation software For example, if you are looking to get into a Fortune 500 company, say in the finance, analytics or accounting sectors, an MBA could help secure the opportunity of a lifetime. Wondering if you should pursue a Master of Business Administration (MBA) after mechanical engineering? Salary.com. document.write(new Date().getFullYear()); Particle Measuring Systems 3.9. From numbers generated by an engineering staffing firm, the average salary of the position asking for an MBA is $131,000, and the average salary for a position requiring a masters of engineering was $137,000. The cost of obtaining this degree does not come cheap, costs for higher education have outpaced the rate of inflation and the MBA is no exception. Full-time (192) Permanent (23) Part-time (5) Contract (4) Temporary (1) Job Category. There is no doubt that an MBA is a beneficial postgraduate degree in many careers, however the value to a mechanical engineer may be limited.

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