Engineering colleges have been mushrooming in India rapidly. The country has around 3345 engineering colleges operational at present. Another statistics say that 1.5 million engineers pass out every year. A very few of them get hired by top notch companies. A large number of young engineers settle to work for mid-level firms or have to do odd jobs, which are completely below their technical qualification. Another large group of graduates do not get hired by any of the companies throughout the country. “In that case, there is both unemployment and underemployment. Several engineers end up working as sales executives, so there is no link between what they studied and what they do.”, says E. Balaji, former CEO of Randstad.
Management education is the only way for engineering graduates to kick start their career with a top notch corporate company at a very lucrative salary package. Let’s understand why engineering graduates should pursue management studies.
Poor quality of education in engineering colleges
Not all the engineering colleges provide good quality of technical education. Some of the private colleges in the country fail to train the students to face the challenges of a technical career. Additionally, many of these colleges are not recognized by the government and hence companies don’t give preference to students from these colleges.
Lack of leadership and interpersonal skills
Students not only learn the concepts, but also leadership and interpersonal skills in a management college. They get much more exposure to the real world. The curriculum is industry-integrated, which is very different from the usual engineering syllabus. Students learn through various case studies, seminars and training from the industry leaders.
Fewer technical jobs in the market
With technology advancement and automation, the need for human involvement is becoming less day-by-day. Most of the repetitive technical tasks are being automated, thus forcing the companies to reduce the workforce. It is obvious that more technical jobs will be automated in the near future, leading to much lesser job openings.
Lucrative salary package for management graduates
After earning a management degree, the chances of getting a good job are high. Some of the top management colleges provide placements to the students. Companies offer lucrative salary packages to management graduates. In India, the average annual salary package for management students is between 3-6 Lakhs.
Faster career growth
A management degree helps to get a better position in the organization. You can climb the corporate ladder faster and there are high chances of promotion and recognition. You may join as an executive, but very soon you may achieve a leadership position. This will lead to a higher salary package and job satisfaction.
Management education holds an importance in abroad too. Overseas opportunities are much more monetarily rewarding than the ones in India. Additionally, the work culture is favorable for professional and personal growth. Comparatively, a very few engineers get on sight opportunities.
Engineering students can choose to pursue any specialization in their management studies. It is recommended that engineers opt for specializations like operations or information technology. However, it entirely depends on one’s interest and goals.