Professionals in the mechanical engineering field appreciate the value of a good education. What is an engineering degree worth? A relatively small number of job placements actually ask to see degrees and less than 2% actually require a masters in mechanical engineering, and only 0.6% require an MBA. It is then that you can make the decision of whether to put yourself into hundreds of thousands of dollars of debt or not! 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. According to our 100% employer reported salary sources the median salary for a Mechanical Engineer I with a Master's Degree or MBA is $68,591 - $71,557. 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. If you are looking for an MBA solely for the purpose of boosting your value with your current company then you might think of saving a few dollars by not attending the top of the range schools. 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. Not all MBAs are created equal, if you are looking to get into a Fortune 500 company then it is a good idea to spend the extra money to go to a top institution. However, if they have an interest in business management, a popular approach is to complete a dual MBA/MSE program. Boulder, CO 80301. Your advanced degree (mechanical engineering) provides you with the knowledge needed in order to obtain an entry level mechanical engineer position. Skills Browse Related Job Categories With Mechanical Engineer I. This can seem quite expensive, however there is another factor affecting the cost of an MBA, full-time work. $90,000 - $110,000 a year. Bachelor's. Seems that an MBA is more of a tool that a mechanical engineer can use, but it is definitely not a necessity. Find out what you should earn with a customized salary estimate and You can use your mechanical engineers mind to problem solve and analyse all of the different options and if you finally decide that an MBA is for you, then go for it! 30+ days ago. Job type. Salary estimate. and MBA degrees is $125,000. Salary estimate. MBAs require some work experience before you can enroll, so some students will have to give up full-time work so they can pursue the MBA. Skills 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? Particle Measuring Systems 3.9. Depends on your reason for MBA . 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. All rights reserved. Benefits The math will be nowhere near the same standard and the other technical components will definitely not be as challenging as the curriculum of your mechanical engineering degree. Please try our salary wizard to explore how other factors like location, Years of experience and number of … The leadership skills learnt while completing an MBA can help you to move from a lab coat to a corner office, it can also give you an understanding of marketing and allow you to promote yourself better for more promotional opportunities. These courses can be taken online through downloadable MPEG-4 files or streaming video. Industries Mechanical engineers looking for a pay increase due to the new MBA that they have obtained might be misinformed to a certain degree. We hate spam. 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. Requirements. Start creating content and launch your blog with Bluehost. 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.

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