Soon after completing the undergraduate pro gramme in engineering (BTech), many students plan to study for postgraduate degrees. At this crucial juncture, their common choices are: go forward in the same field (MTech) or switch to business administration (Master of Business Administration or MBA).Whether to pick the former or latter depends on factors such as what do you know and think about an MBA, job prospects, what you want to do in the long term and how either of the degrees can help you achieve it.
NEEDS IN TECH INDUSTRY
MTech graduates are sought-after by technical industries, not just in India but worldwide. An MTech is the suggested path for engineering students who have excelled in their subject and seek further understanding of the same. It allows you to hone your technical skills to be an expert in the field. Hence, the degree gives the advantage of having technical knowledge vis-à-vis your MBA counterparts,“ says Navin Kumar, head of the department, mechanical engineering and centre of materials and energy engineering, IIT Ropar.
Now, most students pursue an MBA rather than an MTech, which is partly correct. Due to economic liberalisation in the country, private industries need more manpower. They are setting up companies in India, thus generating jobs. Earlier the work used to be outsourced from foreign countries whereas now, companies are setting up their departments here. The jobs are mainly in R&D and design centres with a pay package of Rs 10 to 12 lakh per year tentatively.
The quandary of choosing MBA or MTech is best resolved by a reasoned assessment with certain parameters. For example, students need to think whether they aim to make a career that is technical or managerial. It is important to understand that an engineering degree equips you with many transferable skills that convert a manager from an ordinary player to someone with critical thinking, logical and analytical skills, numeracy and problem-solving ability. It is, therefore, one of the best base de grees you could have before proceeding to an MBA. Pursuing engineering at the Master’s level gives you expertise in your particular field of study, with job options in areas related to this field. So far as the earning potential is concerned, both avenues should be remunerative for those who perform well.
The biggest reason behind students choosing an MBA over an MTech is the opportunity and requirement in many sectors. To rise in the corporate field, one has to understand aspects of business management such as finance, human resource management and marketing.
Unlike an MBA, an MTech graduate’s growth might be restricted in the corporate structure. Many students think an MBA leads to a wide range of roles in addition to giving them a strong foundation for their career. MBA graduates are also seen as drawing a higher salary than MTech graduates.
An MBA equips students with leadership, decision-making, analytical, critical thinking and team skills. Students can thus expect better careers and the confidence to work in a competitive business environment. An MTech, on the other hand, is beneficial for students who are planning to pursue careers in R&D and technical fields. It strengthens their concepts and helps them carry out research in a particular field or area of study. It is also beneficial for students who plan to pursue a PhD. There are some industry sponsored programmes–exclusively aimed at candidates with at least two years’ work experience–which are an added advantage.
An MBA is focused on preparing youngsters to handle business from a functional perspective with an understanding of the business environment. It equips the student with skills to handle business decisions through a scientific approach to managing business.Moreover, internships give you an insight into the industry and the specialisation you might be interested in.