The answer in short form is No. The answer in long form is NO.
It was so simple to answer the question in any form, as the question itself is ridiculous! But if money is the ultimate goal of pursuing education and aiming for a dream career then the below article would guide you to take a proper decision for not just the short run but for the longer future as well.
I tend to see it this way, where there are two sets of engineers who pursue MBA after engineering:
- Those who sign-up for a MBA program right after completing BE.
- Those who go on to work in their desired field for a couple of years after graduation, then sign-up for a MBA program.
The 1st category of people aren’t actually doing the right thing; i.e., pursuing a Management degree in close succession to an Engineering.
Management degrees ideally augment one’s career & professional growth prospects, only when they are learnt in an experiential way. So if an Engineer with 5 years of work-ex looks for a MBA, his learning outcome would be much higher than a fresher, as his 5 years would’ve given him a round about perspective of business, leadership & management.
People choose to do MBA post engineering primarily because of peer pressure, when they compete for growth in a Pyramid shaped org structure where, as you approach top you have limited seats!
The notion is, with a MBA degree, you can now out weigh (or compete in equal standing) with peers for the next level.
It’s also a notion that with a MBA degree, managerial opportunities (people management) comes your way as some sort of a qualification.
While these sort of thinking aren’t wrong, in my view, aiming for a management program should be done with a long term view instead of getting the next promotion or getting to manage junior engineers (which one would anyway attain if he’s simply good at his job).
What I mean by long term is – real value created for oneself in the next 10 – 15 years horizon. What are these values? Let’s see some of them with examples:
- If you’re getting into an IIM or ISB, then a MBA post engineering is surely going open many more lucrative doors. This could be in the form of campus placements in some of the best companies, enabling a fast track career trail.
- If you’re getting into one of the Ive League colleges, then it suddenly puts you into the world map! With the same set of opportunities as with IIMs or ISBs of the world.
However, I feel it’s not just about getting lucrative campus offers with great companies that should motivate you in pursuing a MBA.
I clearly am gonna suggest a third alternative here, doing Executive Programs based on Immersion/Experiential learning mode.
Usually these programs focus on Leadership & General Management, instead of functionally oriented MBA. That’s what can put you in a never ending trajectory in the longer run as companies eventually want Leaders with hands-on perspectives than management grads.
Also, another great advantage with these programs is that you are part of a class that represents diverse background & experience, that the collective learning is so rich for self-development & contribution.
And the real value in the long run is the power of your network. A executive program gets you sitting next to a CXO level guy, that can go beyond opening doors! Opening a whole new world of opportunities!
Colleges such as INSEAD (Insead Leadership Programme for Senior Indian Executives), Harvard, Wharton, etc., are queuing up on Indian shores for filling up their Leadership programs. That also let’s you to simultaneously continue with your current job!
There’s no disadvantage of doing a management degree, hence not covering it in my answer!
Hope you found my perspective useful?
Please leave a comment if so.