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Masters in Engineering Management

20/09/2023

670

Avg. GMAT

24

Avg. Age

$ 78K

Avg. Cost of Study

12 – 24

Avg. Months Duration 

$ 105K

Avg. Salary

Summary

Why Study MEM?

A Master’s in Engineering Management (MEM) degree is a higher-level academic qualification designed to equip engineers with the skills and knowledge necessary for leadership and managerial roles. This program amalgamates technical engineering expertise with essential business and management competencies, including project management, financial acumen, and leadership abilities.

There are numerous compelling reasons to contemplate pursuing a Master’s in Engineering Management:

  • Career Advancement: Obtaining a MEM degree enhances your professional prospects, opening doors to senior and managerial positions across various industries. Aerospace, automotive, construction, electronics, energy, healthcare, and manufacturing employers actively seek MEM graduates.
  • Leadership Development: Enrolling in a MEM program nurtures your leadership skills by providing instruction in areas such as team dynamics, effective communication, and conflict resolution. You will also gain the ability to inspire and motivate teams towards accomplishing their objectives.
  • Broadened Knowledge Base: The MEM curriculum offers a comprehensive understanding of the business and management facets of engineering. You will delve into subjects like finance, marketing, accounting, and strategic planning, which are invaluable for advancing into leadership and managerial roles.
  • Increased Earning Potential: MEM graduates typically command higher salaries than engineers with only bachelor’s degrees. As per the U.S. Bureau of Labor Statistics, engineering managers earned a median annual salary of $148,120 in 2021.

For engineers aspiring to transition into leadership and management roles, a Master’s in Engineering Management presents an appealing option, equipping you with the requisite competencies and insights to excel in diverse industries.

In addition to these advantages, consider the following benefits associated with pursuing a MEM degree:

  • Flexibility: Many MEM programs offer flexible scheduling options, including part-time and online formats, allowing you to continue working while pursuing your degree.
  • Networking Opportunities: MEM programs provide a platform for students to connect with fellow engineers and professionals within the field, potentially leading to job opportunities and other career-related benefits post-graduation.
  • Personal Growth: An MEM program fosters personal growth by helping you refine leadership capabilities, boost confidence, and develop a stronger professional identity.

If you are contemplating embarking on a Master in Engineering Management journey, it is advisable to conduct thorough research and select a program that aligns with your specific needs and aspirations.

MEM v/s MBA

Both a MEM and an MBA are graduate-level degrees that can prepare individuals for leadership and managerial positions. Nevertheless, there exist notable distinctions between these two programs.

A MEM degree places a stronger emphasis on the technical facets of management, whereas an MBA degree offers a broader overview of business and management principles. MEM programs typically encompass coursework related to engineering management, project management, operations management, and quality control, whereas MBA programs tend to cover subjects such as accounting, finance, marketing, and economics.

MEM programs are typically tailored for students with a background in engineering or a technical field, whereas MBA programs often admit students from diverse academic backgrounds.

Determining the right degree for you hinges on your career objectives and interests. If you aspire to a career in engineering management, a MEM degree is a suitable choice. Conversely, pursuing an MBA degree is a fitting option if you are inclined toward a more generalized business or management career.

Here are some factors you should consider when deciding between a MEM and an MBA degree:

  • Career Goals: What are your long-term career aspirations? Are you committed to remaining in the field of engineering or inclined toward a broader business or management role?
  • Interests: Where do your interests lie? Are you more inclined toward the technical aspects of management or the broader business landscape?
  • Academic Background: What is your educational background? Do you hold a degree in engineering or a related technical field?

Program Costs for MEM

$63,000

Avg. Cost of Tuition

+ 

$15,000

Additional Expenses

78,000

Avg. Cost of Study

The cost of enrolling in a Master in Engineering Management program can exhibit considerable variability, contingent upon factors such as the institution, program duration, and your residency status. Nevertheless, you can anticipate expenses ranging from $30,000 to $60,000 for tuition and associated fees when pursuing a two-year MEM program at a public university. Conversely, private institutions often command considerably higher tuition and fees, falling between $60,000 to $100,000 or even more.

Besides tuition and fees, allocating resources for supplementary expenses linked to your MEM program is imperative, including textbooks, supplies, travel, and living costs. The total financial outlay of your MEM journey will be contingent on your chosen lifestyle and the cost of living in the locality where you opt to pursue your studies.

To alleviate the financial burden associated with your MEM program, consider the following cost-saving strategies:

  • Pursue Scholarships and Grants: Numerous scholarships and grants cater specifically to MEM students. Conduct thorough research to identify available opportunities and submit applications for as many as possible.
  • Explore Public Universities: Public educational institutions typically impose lower tuition and fee structures than private counterparts.
  • Leverage In-State Tuition: If you are a resident of the state where you plan to attend school, you typically qualify for reduced, in-state tuition rates, which are typically significantly more budget-friendly than out-of-state rates.
  • Investigate Part-Time and Online Options: Many universities extend part-time and online MEM programs, offering flexibility for students who must balance work commitments with their academic pursuits.

Eligibility Criteria for MEM

The standard eligibility criteria that’s needed to get into a Master of Engineering Management program in most countries include the following:

Bachelor’s degree in engineering or a related field

This is a requirement for most MEM programs, as it gives students the foundation in engineering principles and knowledge needed for success in the program.

Minimum GPA of 3.0

Most MEM programs require a minimum GPA of 3.0 on a 4.0 scale. This is to ensure that students have the academic skills necessary to be successful in the program.

Strong quantitative and analytical skills

MEM programs require students to have strong quantitative and analytical skills. This is because MEM graduates need to be able to analyze data, solve complex problems, and make sound decisions.

English language proficiency

For international students, most MEM programs require a TOEFL or IELTS score to demonstrate English language proficiency.

In addition to these basic eligibility criteria, some MEM programs may also require additional criteria, such as:

  • Work experience: Some MEM programs require students to have at least one or two years of work experience in engineering or a related field. This is to ensure that students have the practical experience necessary to be successful in the program.
  • Letters of recommendation: Some MEM programs require students to submit letters of recommendation from professors or former employers. These letters can help the admissions committee to learn more about the student’s academic and professional skills.
  • Statement of purpose: Some MEM programs require students to submit a statement of purpose. This statement should explain why the student is interested in the program and what they hope to achieve by earning a MEM degree.

If you are interested in pursuing a Master of Engineering Management degree, be sure to research the eligibility criteria for the specific programs you are interested in. You can find this information on the university’s website or by contacting the program admissions office.

Employement Prospects after MEM

95%

Employed within 3 months of graduation

105K

Avg. Salary

    Most Sought-after Jobs

Systems Engineer

Project Manager

Operations Manager

Product Manager

Supply Chain Manager

Engineering Manager

Production Manager

Sales Engineer

Masters in Engineering Management (MEM) graduates enjoy excellent employment prospects, with a 95% employment rate within three months of graduation, surpassing the 92% rate for MBA graduates. On average, MEM graduates worldwide earn $90,000 annually, although this figure varies depending on factors such as industry, location, and experience. For instance, MEM graduates in the United States command an average salary of $105,000, while those in India earn approximately $38,000.

MEM graduates reap numerous benefits, including higher earning potential, increased job opportunities, more excellent career advancement prospects, and enhanced job satisfaction compared to engineers without a master’s degree. Furthermore, MEM degrees offer specialized education, require relevant engineering experience, and often result in higher early-career earnings than MBA degrees. 

However, the choice between MEM and MBA should align with individual career aspirations and preferences, as both degrees offer valuable pathways to success in engineering management. 

For those interested in this career path, a Master of Engineering Management degree stands as an attractive option, offering high employability, competitive salaries, and strong demand from top-tier companies.

Here are some of the top companies that hire MEM graduates:

  • Amazon
  • Boeing
  • Deloitte
  • General Electric
  • Google
  • IBM
  • Intel
  • Microsoft
  • NASA
  • SpaceX
  • Tesla

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Scholarships Available for MEM

Numerous scholarships are accessible to individuals pursuing a Master of Engineering Management degree, with eligibility criteria encompassing merit, financial circumstances, and other factors. Among the prevalent scholarship categories tailored for MEM students are:

Merit-based Scholarships: These grants recognize students with exceptional academic achievements and leadership capabilities. Here are some merit-based scholarships you should look into:

Need-based scholarships: These scholarships are awarded to students who demonstrate financial need. Some examples of need-based scholarships for MEM students include the following:

Diversity scholarships: These scholarships are awarded to students from underrepresented groups in engineering and management. Here are some examples of diversity scholarships you should check out:

Beyond these general scholarships, numerous funding opportunities can be found through specific universities and professional associations as well.

Top Colleges for MEM Worldwide

 

UniversityDetailsSuggested
Massachusetts Institute of Technology

Masters in Engineering and Management

Duration: 16 months

Avg. Working Experience: 6 – 8 years*

Tuition Fee: $131,561

Location: Cambridge, Massachusetts

MIT’s MEM Program Overview

Columbia University

Columbia’s Management Science & Engineering

Duration: 12 months

Avg. Working Experience: 1+ years*

Tuition Fee: $100,000

Location: New York City, NY

Management Science and Engineering at Columbia (MS&E) Program Overview
Stanford University

Management Science and Engineering

Duration: 18 months

Avg. Working Experience: NA

Tuition Fee: $102,000

Location: Stanford, California

Stanford’s MS&E Program Overview
The University of Melbourne

Master of Engineering Management

Duration: 12 months

Avg. Working Experience: 2 years minimum*

Tuition Fee: $65,000

Location: Melbourne, Australia

University of Melbourne MEM Overview
Duke University

Master of Engineering Management

Duration: 18 months

Avg. Working Experience: 1 – 5 years*

Tuition Fee: $93,680

Location: Durham, North Carolina

MEM at Duke University Overview
Purdue University

Master of Engineering Management

Duration: 12 – 24 months

Avg. Working Experience: NA

Tuition Fee: $51,000

Location: West Lafayette, Indiana

MEM at Purdue University Overview
Dartmouth

Master of Engineering Management

Duration: 15 months

Avg. Working Experience: 2 years*

Tuition Fee: $79,000

Location: Hanover, Hampshire

MEM at Dartmouth College Overview
Cornell University

Cornell Engineering Management

Duration: 18 months

Avg. Working Experience: 2 years minimum*

Tuition Fee: $70,000

Location: Ithaca, New York

MEM at Cornell University Overview
University of Queensland

Master of Engineering Science (Management)

Duration: 24 months

Avg. Working Experience: NA

Tuition Fee: $66,800

Location: Brisbane, Australia

UQ’s Master of Engineering Science (Management) Overview

 

FAQs About MeM

A Master’s in Engineering Management is a specialized graduate program that combines engineering principles with business management and leadership skills. Unlike traditional engineering master’s degrees that focus primarily on technical aspects, MEM programs emphasize the management of engineering projects, teams, and resources. MEM graduates are equipped to bridge the gap between engineering and management, making them valuable assets in various industries.

While work experience is not always mandatory, it can be advantageous when applying to MEM programs. Many programs prefer applicants with relevant professional experience as it demonstrates a practical understanding of engineering processes and can contribute to class discussions. However, some programs may admit students directly from their undergraduate studies.

MEM programs typically require a bachelor’s degree in engineering or a closely related field. While there may not be strict technical prerequisites, having a solid foundation in engineering concepts and mathematics can be beneficial, as MEM coursework often involves technical subjects. You may need additional prerequisite courses if your undergraduate degree is in a non-engineering field.

The ROI for a MEM degree can vary based on factors such as your prior experience, the institution you attend, and the industry you enter. Generally, MEM graduates tend to earn higher salaries than those with only a bachelor’s degree in engineering due to their management skills. It is advisable to research salary data and career prospects in your desired field to assess the potential ROI for your specific situation.

Yes, you can pursue a Ph.D. after completing a MEM program, although it’s less common than continuing to work in industry. If you are interested in a research-oriented career or academia, a Ph.D. may be a suitable next step. Be sure to check the admission requirements for Ph.D. programs, as they may vary from MEM program requirements.

Application Process & timeline

We strongly advise all our clients to have a proper excel sheet or a timetables mapped out.
Once you are done with GMAT the entire application process usually take 4-6 weeks

Step 1

GMAT / GRE Score

2-3 months.

If you are not sure about what score to target then look at the average score of the schools you want and shoot above the average. 

Step 2

Profile Evaluation

 1-2 weeks.

Get your profile evaluated from a professional consultant and figure out what schools you can target based on your profile

Step 3

Application Prep

3-4 weeks at least. 

Start writing at least 1 month in advance of their 1st deadline. First application usually takes the longest.

Step 4

Interview Prep

1 week

School will notify you and give you roughly 1 week to schedule your interview. Ideally, start your prep ASAP and Do some mock interviews.

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