Engineering Management acquaints students with business practices, communications, financial measures, personnel management, quantitative analysis and decision making. The program emphasizes adapting and applying analytical skills and scientific knowledge into business practice.
Through selection from an extensive list of electives, students learn about project management, marketing, R & D management, new product development, entrepreneurship, business ethics, business law, and many other aspects of managing a successful business. These subject areas are critical in our increasingly complex, technologically-oriented economy, and demand has risen for professionals with the expertise to manage both human and technological resources. Such a combination of talents is crucial to organizations competing in the global marketplace.
Graduates of the M.S. Engineering Management acquire the skillsets to move into higher level supervisory, managerial, or executive roles, such as Chief Engineer, Chief Technology Officer, or Director of R & D. According to the US Bureau of Labor Statistics, the 2012 median salary for engineering managers was $124,870.
Engineering Management or MBA?
Students frequently ask about the difference between the MSEM and an MBA. This is an intelligent question, as you will see a number of curricular overlaps. In choosing between these two degrees, students should ask, “What are my career goals?”
If you are currently working as an engineer or in a technology-intensive field and your goal is to move into a supervisory, managerial, or executive role, then the MS Engineering Management is likely your best choice. This will lead to high level positions such as Chief Engineer, Chief Technology Officer, and Director of Research and Development.
If, on the other hand, you desire to move from your current role or company, perhaps into a new venture or startup business, then an MBA is probably the better direction.
In other words, if you envision yourself striving to provide the best product or service your company can offer its customers, then an M.S. Engineering Management degree is optimal. If you envision yourself concerned about delivering the best possible financial performance or highest return on investment for your company and shareholders, then an MBA is probably a more suitable path.