An Engineering student always thinks of pursuing a technical course like M. Tech or GRE post graduation to add to his skills and make a good start of career. But, if you are aware of Indian context, you will see the same is not true. You will find engineers topping everywhere- right from UPSC, CAT and other examinations. It is supported by the fact that to climb up the corporate ladder, you need to have other skills like management, team work, leadership, communication etc. apart from technical. Also, supply of engineers in India is huge when compared to employment opportunities available. So, a huge number of engineers have no choice but to settle with low paying jobs or smarted ones opt for higher education.
If one has inclination towards business or entrepreneurship, an MBA, and in particular Finance is ideal for him. If you love position, power and challenges in profession you choose, an MBA is the right choice. It creates a career path towards senior management positions in future. If you are an engineer and wondering which specialization to take, this discussion is useful for you.
Once you are assure of that fact that you are going to pursue an MBA, next questions comes “Which branch to specialize in?”, “Which branch is suitable for engineers” and “why finance”? It is a general observation in B Schools across India, which engineers tend to do well in finance subjects as they are good with numbers while Commerce graduates though have good concept and understanding of accounting and other finance papers, fare not as well as engineers. Basic reasons might be they do not have mathematics as a paper right after Class 10.
Let us explore more reasons why MBA in Finance is an ideal course for engineers:-
- MBA in Finance is a challenging course; it involves a lot of analytical and mathematical skills. One may argue that a commerce graduate with background and previous knowledge of commerce is in a better position for Finance. But, it doesn’t happen. MBA in Finance is a rigorous course. Engineers are used to this kind of academic life style as B.Tech/B.E is a four year course and includes same kind of activities- internship, projects, assignments, research etc.
- An engineer develops excellent mathematical and analytical skills during engineering that helps him in understanding the papers like Accounting, Statistics, Securities Analysis, Private Equity etc. because he can co-relate the problems with real world scenario.
- Engineer cum MBA Finance is an excellent combination. Believe it or not, an MBA with engineering background tend to be better Finance Managers or Top Management than others. Difference come as he has greater problem solving skills, broader knowledge about operations, technology, business and optimizing results from limited resources.In fact, certain companies like IT firms recruit only MBA with engineering background for their Business Analyst posts as the job itself requires a lot of technical knowledge.
- MBA in Finance with engineering background has greater flexibility and adaptability to choose roles and companies. He may work as Operations Manager or Business Development Manager without majoring in Operations or Marketing respectively. Roles like General Manager, Finance Manager, and Accounts Manager in any manufacturing company or an IT firm, Bank Manager, Banking Technology Officer and different techno functional areas where knowledge of finance as well as technology is required to deliver results.
- Opens world of opportunities: Engineers by their graduation course become ambitious like to make their mark in the world, reach out to become CEO/Top management, etc. Finance degree is considered most suitable in case you want to taste success in short time and climb on success ladder quickly. Not to forget, it would require a lot of your time energy and attention. It has been seen head and top management of majority of IT and Engineering based companies are actually MBA in Finance for obvious reason they understand their business well.
- You have already Excel in one field, now it’s another one– During Engineering a student is exposed to lot of business aspects like internships, industrial training or industrial visits. He develops the knowledge and technical know-how of how companies run and how its products and services are placed in market (product differentiation). He is also exposed to different kinds of students’ activities like regular seminars and contests like-debates, group discussions, research paper presentations, case studies, soft skill training before campus placement etc before joining MBA course. He develops the habit of mastering on all of the above and doesn’t fill pressure of multi tasking while at B School. It is another reason which keeps Engineers motivated while pursuing MBA in Finance and do multiple things at same time, but systematically, whereas others feel the work pressure.
- Quest for Entrepreneurship-Many engineering colleges have incubation centers or organize entrepreneurship talks, training and awareness camps at their campus. This develops the entrepreneurship skills of engineers’ right in Engineering College only and they begin looking for opportunities around. An MBA in Finance is considered most appropriate for starting own enterprises as it covers basics of all other domains like HR, marketing and operations, while finance major ensures he sticks to his business plan, ensure revenue, profit and growth etc.