Engineering Management Degrees

Overview

An engineering management degree skillfully combines the knowledge of technology with the art of management. In the current corporate scenario, there are no more concrete areas of specialization because companies now blend so many areas of expertise into one. So with engineering management, it strikes the right balance for people who need to understand the techniques and technicalities of businesses. A degree in engineering management helps the student appreciate the intermingling of various aspects of business and technology and thus helps in taking informed decisions. Though the program is relatively new, it has a wide scope for growth.

Benefits

Personnel in a business environment are required to have a finer understanding of the technical aspects and those in a technical field need to assume a position in the management of affairs. The study of engineering management helps prepare the students for these requirements. Widely undertaken by engineers and science major students, a degree in engineering management is immensely helpful when managing projects and personnel. Product development, production and manufacturing, industrial engineering, designing, software services and construction to name a few, are fields where an engineering management degree is becoming necessary. The average salary for a graduate in engineering management would be around $100,000.

Costs

Engineering management is offered both online and on-campus. While the average cost for a full-time program is $52,342, that of an online/distance learning program is around $38,900. The costs indicated are an estimate and will vary depending on the school and the type of learning chosen.

Schools

Typically offered as master's program, the program in engineering management consists of courses focused both on technology and management. In the first year, the courses in the degree reflect the thoughts of a master's program in business administration and on generic topics in technology and technical specialization chosen by the student. Reputed schools that offer online/distance learning programs include Kansas State University and University of Colorado at Boulder. Full-time courses can be undertaken at Carnegie Mellon and Duke University.

Testing & Preparation

Being a master's course, it is necessary for students to submit the Graduate Record Examination (GRE) score. For non-native English speakers, it is also necessary to submit the Test of English as a Foreign Language (TOEFL) or the International English Language Testing Service (IELTS) scores. More often, the schools require that the applicant have a minimum of three years of work experience.

Financial Aid

The schools encourage students to obtain financial aid by applying to the federal student aid (FAFSA) or by taking federal loans like Direct loans and Stafford loans. Students may also approach private institutions such as Chase and Sallie Mae for student loans. Many employers sponsor their employees' degree programs, so you may be able to get reimbursed by your employer.