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03-30-2008, 10:29 AM
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#1 | | Junior Member
Join Date: Mar 2008
Threads: 37
Posts: 108
| does engineering even make a lot of money?
if so, what kind of engineering and how much do they make?
and will the salary go up or down in the future? lets say 7-10 years? | 
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03-30-2008, 12:01 PM
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#2 | | Senior Member
Join Date: Aug 2004 Location: New York City
Threads: 469
Posts: 3,344
| It really depends on how good of an engineer you are. | |
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03-30-2008, 12:01 PM
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#3 | | Member
Join Date: Sep 2007
Threads: 4
Posts: 412
| engineering salary starts high, but peaks fast. | |
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03-30-2008, 01:15 PM
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#4 | | Member
Join Date: Jun 2007
Threads: 9
Posts: 419
| Which is why undergrad engineering degree ---> MBA is becoming so popular nowadays. | |
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03-30-2008, 01:17 PM
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#5 | | Junior Member
Join Date: Feb 2008
Threads: 16
Posts: 223
| Depends what you do with your degree and how good of an engineer you are.
If you just work at some company expect to make in the neighborhood of 50-100k. If you start your own company (consulting/invention/ect) you can make much less or much more than an office job. There are also cases where engineers work within finacial companies and sometimes become big time hedge fund managers and make millions a year. | |
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03-30-2008, 02:05 PM
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#6 | | Senior Member
Join Date: Aug 2004 Location: New York City
Threads: 1
Posts: 1,483
| Engineering majors have the highest starting salary coming out of undergrad. It's relatively high, but you won't be making the same amount of money as doctors, lawyers, investment bankers and management consultants. But the tradeoff is usually in hours worked. | |
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03-30-2008, 02:23 PM
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#7 | | Junior Member
Join Date: Jul 2007 Location: Newyork City Gender: Male
Threads: 5
Posts: 141
| Yeah, engineer salary starts high but doesn't go up much afterwards thats why some engineers go back to school(grad school ofcourse) and earn a MBA. | |
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03-30-2008, 06:40 PM
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#8 | | Junior Member
Join Date: Mar 2008
Threads: 37
Posts: 108
| whats an MBA and how will it make you more money?
sorry if its a dumb question | |
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03-30-2008, 07:40 PM
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#9 | | Member
Join Date: Sep 2007
Threads: 4
Posts: 412
| MBA leads to management. Everyone and their mom has one in the engineerign business. | |
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03-30-2008, 07:46 PM
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#10 | | Senior Member
Join Date: Apr 2005 Location: Houston, Texas Gender: Female
Threads: 10
Posts: 1,961
| It's a masters degree in the field of business. Stands for Masters of Business Administration. And no, not everyone has one in the engineering field. *Some* people have MBAs, if they want to go into management of the engineering firm or of the company, but it's not a requirement by any stretch of the imagination.
In a lot of companies, the managers make more money, and in order to be a manager, candidates should have an MBA, but this isn't the hard-and-fast rule of engineering. In a lot of firms, the senior engineers make more money than the firm managers. It really depends upon the company. | |
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03-30-2008, 08:50 PM
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#11 | | Junior Member
Join Date: Mar 2008
Threads: 37
Posts: 108
| how is the layoff rate? am i going to have to worry about outsourcing and layoffs if i decide to take this route? | |
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03-30-2008, 11:09 PM
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#12 | | Senior Member
Join Date: Oct 2006
Threads: 74
Posts: 1,952
| I have a question and comment to make.
Comment:
Administration positions within a company are very selective. I read that a big company (Chevron) hires only ~6 MBAs per year. So you have to be pretty top MBA grad to get into managing a big company.
Question:
What do you learn while in courses getting your MBA degree? Is it engineering related or business administration related? | |
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03-31-2008, 02:08 AM
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#13 | | Senior Member
Join Date: Aug 2004
Threads: 21
Posts: 9,643
| Quote: |
Administration positions within a company are very selective. I read that a big company (Chevron) hires only ~6 MBAs per year. So you have to be pretty top MBA grad to get into managing a big company.
| Managing big companies is not what most students at the top MBA programs will do; most of them will end up in financial services or consulting. For example, at Harvard Business School, 65% of the graduating students will take jobs in finance or consulting. At the Stanford GSB, the figure is 67%. Career Salary/Bonus Data: Recruiting at Harvard Business School http://www.gsb.stanford.edu/cmc/repo...7_detailed.pdf
In fact, it's gotten to the point where many MBA students view the managing of a large company as scut work that is done by those people who weren't good enough to get a job in finance or consulting (note, that's not my personal opinion; I'm just telling you what some other people think). As one HBS guy said, why manage a large company when you can be a financier or strategy consultant that tells that large-company manager what to do? | |
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03-31-2008, 01:33 PM
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#14 | | Senior Member
Join Date: Oct 2006
Threads: 74
Posts: 1,952
| Quote: |
As one HBS guy said, why manage a large company when you can be a financier or strategy consultant that tells that large-company manager what to do?
|  Thanks for the info. Can you give more information of what consultants do? (a general description of the responsibilities) | |
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