Is an MBA Worth it for an Engineer?

An MBA can be a valuable addition to your engineering resume. According to the Payscale.com, engineers with an MBA make 24% more on average than those with a just a bachelor’s degree.

It’s important to consider the costs in time and resources before committing to a program. Standard MBA programs typically take two years to complete and can cost between $25,000 and $150,000 depending on the institution and the class format (in person vs online). Pausing your career to go back to school can be expensive and cost you valuable industry experience. Many engineers elect to work on their MBA while retaining their employment. In some cases, an employer may even offer benefits such as tuition reimbursement.

Do You Need an MBA?

In short, no. You do not need an MBA to be successful as an engineer. Depending on your interests, industry, and desired career path, an MBA may or may not be relevant for you. According to Zippia.com, only 16% of engineers obtain a post-graduate degree. This would indicate that the vast majority of engineers enjoy successful careers without an MBA.

Some engineers opt for a Masters of Engineering as opposed to an MBA. The decision of an MS or an MBA is largely dependent on your career interests. I personally know many engineers who are perfectly happy being technical experts and want as little to do as possible with what they call “corporate stuff”. On the other hand, I know others who only got an engineering degree to serve as a springboard into management.

MBA vs MS Career Paths

Why Get an MBA?

MBA programs are designed to teach skills in the vein of business management, economics, strategic planning, and finance.

Engineers who are seek an MBA would typically be pursing senior management and executive level roles.

If your goal is to advance your technical engineering skillset and progress up the ladder to the roles such as lead engineer, senior engineer, technical manager, and so forth, then an MBA probably isn’t a good investment.

If you still want an advanced degree, but remain on the technical hands-on side of the business, then you may want to consider a Masters in Engineering opposed to an MBA.

At the end of the day, it all depends on your career goals.

Online or Traditional Delivery?

I am a proponent of online programs wherever possible. In this day and age of online learning, the physical classroom format simply doesn’t offer enough advantages to justify the higher cost. Online programs offer several significant advantages:

• Affordability – costs can vary significantly, but in general online programs cost less than in-person programs.
• Location Independent – online programs are well . . . online. As long as you have a reliable internet connection, you’re good to go.
• Flexibility – Many online programs cater towards employed professionals. Often, weekly lectures are recorded and can be viewed at your leisure.

Will employers care if my MBA was done online?

Short answer, no. The vast majority of employers will not care about delivery method of your MBA program. In a post-covid world, online education is a fact of life. Traditional classrooms may be a viable option for those going directly on from their undergraduate degree without entering the work force; but, for those who have spent time in the work force, online makes more sense.

How demanding is the course load?

I can’t speak for everyone, but for most engineers, the course work will likely be more tedious than it is challenging. Given the rigorous coursework already completed to obtain an engineering degree, most engineers will not struggle with the course work from an intellectual standpoint.

With that said, there will be a significant time commitment associated with any advanced degree program. Expect to spend 10 – 20 hours per week on school work for the duration of the program–some projects may take even more time. For this reason, it’s important to consider your life circumstances and make sure you can dedicate the requisite time and attention to a post graduate program before committing to it.

What are the Best MBA Programs?

The best program is the one that you can afford and the one that you’ll stick to. In my experience very few people actually care where you got your diploma, and the people that do care are of no account any ways.

There are however some great programs out there offering outstanding education at an affordable price tag. Check out some of my favorites:

• Western Governors University (GMAT/GRE Not Required)
• University of Nebraska – Lincoln (GMAT/GRE w/ 3.0 GPA undergraduate)
• University of Auburn (GMAT Required)
• Louisiana State University (GMAT/GRE Not Required w/ 3.0 GPA undergraduate)

For each of these options, the total program cost comes in under $40,000 at the time of this writing. Two of them are even under $20,000! That’s some serious education at an affordable price!

Conclusion

Both an MBA and an MS have their own merits and value propositions. Ultimately it’s up to you to decide where your interests lie and what you want for your career. It’s important to remember that advanced degrees are not the end-all or be- all of an engineer. Professional certifications, continuing education, and industry experience are all pieces of the same career equation that you have to solve for yourself.