We see these comparisons almost everywhere that which degree pays more what is highest paying job etc. This comparison is quite normal in todays world where material show-off is considered a true sign of success. We will explore, what constitute payment criteria and what is the best way to earn better if we compare between Engineering and Management degrees
Payment is directly proportional to skillset one possesses and availability of that skillset in market.
Generally, any fresh graduate (whether Marketing Or Engineering graduate) start with a low pay grade. But if you are comparing a B. Tech and MBA degree holder then MBA would start from a better pay structure. Let us find out criteria for salaries.
Who gets what
In any organisation its very crucial that Human Resource department defines the salaries basis on business criticalness and importance of resources! Engineering departments generally decide on how to build products, forecasts, costing and production. Whereas management decided what gets build and over see how to build it. Management also oversees the co-ordination between departments lets understand by a simple example if a road is to be built then engineering decide how to build it and management keeps a check that construction is progressing in right direction. You can understand that however engineering is doing the work but without management the whole expense can go in wain if not progressed in right direction, more importantly management is also responsible to engineering and other teams to coordinate and work in a seamless fashion for the better result for organisation.
Availability of Talent
Now availability of talent is very critical issue and different organisations handles this differently, but as we have learnt above about responsibilities of management are more critical for organisational goals and management carries the responsibility to make projects and overall organisation a success. This fact in most cases creates management as a high paying career choice. However, this is not true in all cases a rare engineering talent or an engineering expert which is available in very few numbers in respective job market can fetch more compensation the similar level management profile.
Negotiation skills and previous packages
Negotiation skills are also very important in getting desired salaries as well as previously help packages. HR decides on packages while hiring experienced candidates and offer them packages keeping their earlier packages in consideration.
All of the above factors play vital role in decision of compensation as we shouldn’t be comparing apples with oranges. Engineering and management both career field have their own importance and compensation factors are subjective matter.
