which is the best option for you, industrial engineering or finance. In this post, we’ll discuss this subject.
Which is better industrial engineering or Finance
According to the BLS, the average salary in industrial engineering is $95,000 per year, while in finance there are a lot of occupations that differentiate each other, but the most higher salary is, a financial manager who earns around $130,000 a year.
Both occupations have a higher demand in the market, the field of industrial engineering is evolving by 14% offering 23 000 occupations every year. while in finance branches The sector is evolving Faster by 17% offering 65,000 annual jobs.
To be a finance manager and reach $130,000 you Must have at least 5 years of experience or more, which is not the case in industrial engineering. but there are a lot of Finance occupations that don’t require having experience in the field including:
- Accountants and Auditors
- Budget Analysts
- Cost Estimators
- Financial Analysts
- Financial Examiners
- Insurance Underwriters
- Management Analysts
So both occupations have a higher potential in the higher salaries, and you don’t have to worry about struggling to find a job in industrial or Finance majors. you just have to figure out in which position you feel comfortable.
- Do you like to work in Manufacturing, improving production systems, and solving technical problems with machines? or
- Do you like to stay in the office working on financial reports and giving private sessions with clients?
We’re going to mention later in the next paragraph what personal qualities allow you to work in both positions Industrial engineering or finance.
Which is harder: industrial engineering or Finance
Industrial engineering is more difficult than finance because it involves a lot of mathematics courses, in addition, students are required to take physics and Design which is totally not included in the finance curriculum.
Finance Majors have one difficult math course which is “calculus with applications in business”. It requires solid basics in algebra and precalculus While in industrial engineering you would be required to complete a lot of calculus courses including:
In addition, in industrial engineering, you have to complete some basics physics courses like:
The topics of Finance majors don’t involve any technical aspect like industrial engineering, Finance Majors Focus on human and business management. so the principal topics you’ll be studying as a finance major in your third and fourth year are:
when you reach your third or fourth year in industrial engineering you will be implementing a lot of physics and Mathematics courses you took to study pure technical problems about to design and production improvement, including:
Finances involve a lot of math that relates to statistics and the economy. It is not technical like industrial engineering. If you don’t like to study charts, analyze graphs and have the patience to read a lot of statistics documents including a lot of tables and numbers, the finance major might be boring, meaning difficult for you.
On the other hand, if you don’t like mechanical design, and are engaged in technical procedures about production, like improving the numbers of cars produced every year, or even improving the system of machines, or even working to reduce the raw material or raise their speed. Industrial engineering will be difficult for you.
Especially if you Like to study a lot of technical mathematics like solving calculus equations to determine the maximum number of pieces that can be produced by a certain machine
Should I major in industrial engineering or Finance
If you like mechanical design and love to work in a noisy, humid environment solving technical problems of machines and increasing productivity. In addition, you have a good or decent level in mathematics, especially in calculus probability, and statistics, so industrial engineering is a good option to opt for.
Industrial engineering requires some leadership qualities because you would have a lot of people working under your responsibility, requiring you to know how to deal with them and make sure they work in harmony.
On the other hand, if you like to work in offices and don’t make your hand dirty, or hear noisy machines, a finance major would be a good option, especially if you like to manage business finances like accounting or financial analysis.
The advantage that finance majors have is you can easily open your own business, like opening your own office or work as a freelancer on the side of your job giving people private consultation.
In addition, as a finance major, you can work alone in your office, sitting in front of the computer or reading documents on the desk without moving anywhere. This is a great option for students introverted and feels drained working with teams.
This is almost impossible for industrial engineering Because most of them work in manufacturing and Industrial plants that require dealing with machines and workers.
In terms of finances, both industrial engineering and finance majors earn respectful salaries as we’ve seen in the first paragraph. you only have to choose which position matches your personal abilities.
Industrial engineering and finance double major
It is not worth it at all to do industrial engineering and finance as a double major, they don’t have any overlap. In industrial engineering, you will be studying technology and improving machine systems, while in finance you are analyzing or making accounting for businesses or companies so it is like double majoring in arts and Mathematics.
It would be risky lowering your GPA in addition you will be spending a lot of time studying; maybe up to 5 years, especially in summer which would reduce your internship times. Internships are the most critical moment you have to take advantage of to build networks again experience as a result of allowing you to apply for jobs.
In addition, even if you succeed in your double major, you would be giving a wrong impression to your employee that you are not stable and still do not have a Clear Vision about who you want to be in the future.
so you have to choose one specialty, doubling to major in finance and industrial engineering would not be adding any value or raise your chances to get a job.