Considering an MBA? For STEM grads, an Engineering and Technology Management master’s degree is the better option

After Colby Frias graduated with his bachelor’s degree in civil engineering, he decided he needed something more to help make his career dreams a reality. 

Specifically, dreams of a future C-suite position as chief executive officer or chief operating officer.  

“During my time at Mines and at internships, I realized that even engineers will get to a point in their careers where they will want to advance within their company,” Frias said.  

Enter Colorado School of Mines’ Engineering and Technology Management Program, a one-year master’s degree tailor-made for STEM professionals who want to broaden their career options by developing their business and technology management skills.  

“Having a background in business will help me get there,” Frias said.  

What is Engineering and Technology Management? 

Designed for STEM graduates who want to learn skills for jobs in business management, the Engineering and Technology Management Program at Mines is a one-year master’s degree ideal for those who want to broaden their options. Building on the STEM degrees students earned as undergraduates, the program equips its graduates with the knowledge of how to use those skills to improve business operations and organizational processes to keep up with rapidly changing technology. Students can complete the program in-person or online, but a STEM bachelor’s degree is required. 

“Students in the program, with their STEM backgrounds, have an analytic mindset, and we are teaching them how to apply that to business. We strengthen their mathematical understanding with business tools and methods, while challenging their mindset on the management-side of business that is not a one answer solution,” said Crystal Dobratz, director of the Engineering and Technology Management Program. 

The design of the program intentionally integrates engineering problem solving with the managerial perspective of modern business, evolving as industry changes to keep pace with global change.  

Tim Meyer/Colorado School of Mines

How does Engineering and Technology Management compare to a more traditional MBA?

A master's in business administration, or MBA, is a common route for those looking to pivot their careers into a more business-focused track. Programs typically take a broad look at business as a whole and can be pursued by graduates with any academic background. 

On the other hand, Engineering and Technology Management is a business program specifically tailored to STEM graduates who want to develop quantitative-based analytic skills. Unlike an MBA, the program is designed to be a bridge for STEM-minded professionals to use their previous education to make an immediate impact after graduation.  

“We want to get these STEM students to a place where they feel comfortable talking to executives and being able to promote themselves in a way that allows management to understand their career goals. We want them to learn how to think outside the box and set themselves up for advancement,” Dobratz said. 

Often taking two years to complete, MBA programs traditionally offer a curriculum of general business courses, applicable to small franchises up to large multinational corporations.  

The one-year Engineering and Technology Management master’s degree is more focused, with two specialization options: Technology Management and Innovation or Engineering Management and Optimization. Students in the program do not need to choose a track, but rather they can select the courses that truly allow them to have a customized experience that fits the needs of their career goals. The courses specialize in either optimization and operations decision making or effective management of large engineering projects. All students in the program graduate knowing how to match organizational management with the modern, technologically evolving business landscape. 

What career opportunities can I pursue with a master’s degree in engineering and technology management?

Program graduates are working in an array of roles, including operations manager, client services analyst and project leader, and across industries, from governmental agencies to international corporations.  

Graduates also receive strong support from the Mines Career Center – a recent survey found that 98 percent of Mines master’s degree graduates recorded positive outcomes. 
Holden Murphy used the Engineering and Technology Management program to position himself for a career where he could use his communication skills more, without leaving his engineering background behind. 

“I wanted to expand into the business world, and being a very social person, I wanted a job where I was not sitting behind a desk all day. I want to be talking to people,” said Murphy, whose undergraduate degree is in mechanical engineering. “ETM is setting me up for success by opening up my options and making it easier for me to pursue that kind of career.” 

Murphy graduated from Mines with his degree in Engineering and Technology Management and now works for engineering company KBR in Colorado Springs as a junior sustainment test and evaluation engineer.

What are the course requirements for Engineering and Technology Management? 

The Engineering and Technology Management curriculum consists of a set of core courses along with a variety of electives, so students can mold the program to their interests and strengths. With 15 credits of core courses and 15 credits of electives, students in the program get a strong mix of base knowledge and specialization. If a desired course of study is not available, there is flexibility in the program to do an independent study and connect with other departments at Mines. 

The program’s co-curricular requirements outside of the classroom include an executive-in-residence seminar series, a communications workshop, a Python software engineering workshop, and a leadership and team-building event.  

“We focus heavily on teamwork, whether it be in person or online, because we want students to experience working with individuals who may not be thinking the same way as them, for whatever project you’re working on,” Dobratz said. 

What kind of hands-on experiences can I expect in the program?

Mines’ entrepreneurship and innovation landscape offers students in the Engineering and Technology Management program a variety of opportunities for hands-on experiences.  

Through the Beck Venture Center and the National Organization of Business Engineers, students can connect through a due diligence committee to evaluate actual entrepreneurs seeking funding, providing documentations and giving presentations on where the entrepreneurs are at in the funding process. In conjunction with the McNeil Center for Entrepreneurship and Innovation, program electives allow students to explore taking an idea and making it come to life. 

Dobratz said the Engineering and Technology Management program is also looking ahead to what’s next in business. Working with an AI-industry advisory board, she’s seeking to integrate AI and teach students in the program how to use it successfully with a business focus. 

“AI is a useful tool, but it’s also a tool that can be incredibly misleading,” she said. “We want students to learn how to analyze and evaluate the results and know whether or not they’re getting something that could benefit their decision making. We are excited to help our students through this massive change in technology and prepare them in a way for them to help their future companies incorporate it in an effective way.”