Which degree to choose between MBA in Finance and MBA in Business Analytics after Mechanical Engineering, is work experience needed for MBA?
Asked by Pranav Patwari about 2 years ago
Many engineering graduates who want to pursue an MBA or PGDM do so immediately after finishing their engineering degree. Although there is nothing wrong with that, more and more people are beginning to understand the benefits of working for a while before obtaining a management degree.
The majority of business analytics courses certainly require a minimum of two years of job experience for this reason as well. It also makes logic. A management degree or credential gains much value that one may not have realised before by being exposed to the needs and realities in a working environment!
Mechanical engineering students also consider doing MBA in finance after mechanical engineering because of the following reasons
- more excellent prospects for promotions and progress
- more bonuses and compensation
- new employment in a changing labour market that needs "hybrid" talents
These are valid reasons to consider changing career choices or adding advanced finance knowledge to your undergraduate degree. Finance-related careers present a wide range of intriguing options, and the potential rewards are undoubtedly remarkable. For example, even entry-level professions pay significantly more than the BLS-reported average salary of $110,000 for software engineers.
Even so, it is still a respectable salary for engineering grads. For example, the average salary for mechanical engineers is roughly $90,000. For civil engineers, the situation is similar. Although these are good pay, many engineering experts believe they don't match the high technical expertise and knowledge required for these roles.
Given this, you shouldn't contemplate switching totally to a profession in finance lightly, mainly because you likely already spent a lot of money to earn your engineering degree. Consequently, obtaining a Master of Science in Finance degree might be the best course of action. In addition, this degree demonstrates to potential employers that you have the drive and ambition necessary to thrive in high finance and are up for the rigours of this incredibly demanding sector.
One of the most excellent methods to enter the finance industry or to supplement your engineering degree is to earn an MBA in Finance. In essence, this is due to:
- It equips you with in-depth technical knowledge to help you perform better in well-known demanding sectors.
- You'll learn more about how various financial vocations operate, enabling you to select a path that matches your skill set.
With an MBA in Finance, you might easily transition into various professions as an engineer.
- More Advanced Engineering Positions
- FinTech Programmer
- Investment Banker
- Corporate Banker
- Cybersecurity Analyst
Although top-notch MBA universities require specific working experience, some universities exempt candidates from working knowledge.
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