With a median salary of approximately $110,000, engineering management is a lucrative career path. Employers are flocking to hire engineers with management capabilities, and in today’s competitive landscape, having a multifaceted skillset is a significant drawcard for anyone looking to get ahead.
The unique management skills learnt through a Master of Engineering Management (MEM) are valuable and provide numerous benefits to employers, which is why businesses are willing to pay a premium rate for engineers with these types of qualifications.
Increased understanding of business issues
Undertaking complex engineering projects is a big commitment for businesses, and finding engineers who are able to consider business issues in their decision-making processes make them an asset to any organisation. An MEM can be equated to an MBA for engineers, as it gives graduates a solid understanding of complex business as well as engineering concepts.
Similarly, MEM graduates are highly knowledgeable and, along with an understanding of how business problems affect their work, are able to communicate technical ideas to non-technical groups within their organisation. In this sense, MEM graduates provide employers with an invaluable link between the business and engineering sides of their organisation, making them much more attractive than applicants with undergraduate-level engineering qualifications.
Less training time required for new employees
Engineering managers have many hats to wear. They’re responsible for planning, organising and supervising projects – including project policy, quality assurance and testing procedures. These roles require a diverse range of skills that can take years to learn. MEM employees have already acquired many of these skills and knowledge through study, which dramatically reduces the time employers spend on training them.
Plus, with a diverse skillset, there’s plenty of room for MEM graduates to grow within an organisation. Along with working in an engineering context, engineering managers also have knowledge that can enable them to transition into other positions, such as sales or marketing.
Reduced management capacity needed
Because an MEM combines technical focus with strong management skills, employees with the qualification are well-equipped for more autonomous leadership roles. They require less direct management and are often able to work as effectively and autonomously as co-workers with considerably more industry experience.
If you’d like to enhance your career prospects by acquiring key management, business and technical skills, consider SCU Online’s Master of Engineering Management. Find out more about our great online courses or speak to one of our friendly Student Enrolment Advisors today on 1300 589 882.