Online MEM Market Research: 2024 Edition

Engineering management is a unique field that lives at the intersection of technology and business. Engineering managers are qualified practitioners who acquire further training and experience to manage large-scale technical projects and teams effectively. They are systems thinkers who are fluent in two languages: management and engineering. They bridge the gap between business strategy and operations to provide integrated leadership that improves productivity and efficiency.
 
Engineering managers work in diverse settings across all industries and sectors. While many rise up through the ranks of engineers, most seek further higher education beyond the bachelor’s degree. The gold standard is the Master of Engineering Management (MEM) degree. The specialized degree teaches key business skills and how to apply them in an engineering, production, or techology-focused setting.  Engineering professionals can also pursue comparable programs such as an MBA in Engineering or Technology Management and a master’s in Technology Management

According to the Integrated Postsecondary Education Data System (IPEDS), nearly 5,000 MEM degrees were conferred in the 2022-23 academic year, a growth rate of 48% over 2019. About 30% of degrees were conferred to international students, indicating that most demand is from domestic US students.

This same level of student demand is mirrored in the Google search volume trends over the past five years. From April 2023 to May 2024 there were over 146,000 average monthly searches in Google for keywords related to a master’s in engineering management—a growth rate of 53% over 2019 levels. Thirty-six percent of searches contained the word “online.”

The following table shows the 12 largest MEM programs based on conferrals and their year-over-year growth rates. All programs except one experienced double- or triple-digit growth over 2022, and all except one (University of Illinois) are offered online.

There are 144 degree-granting MEM programs offered in the US. Our research indicates that 94 (65%) programs are offered in a fully online or hybrid format. In fact, while the total number of MEM programs grew by 21% over the past five years, the number of online programs grew by 68%--indicating the popularity of the online modality for working professionals who require the flexibility of an asynchronous, fully online program.
 
Online MEM programs are offered by some of the country’s best universities. In fact, 84% of online MEM programs are offered by universities nationally ranked by US News and World Report and 10% are ranked in the top 50. This diversity is reflected in the wide range of pricing. The per credit tuition rates range from $340 to $2,440 and total tuition ranges from $10k to $87k. Price also varies by region of the country. The following table shows the average tuition rates by region.

While most MEM programs offer a general curriculum of business and technical coursework, about 25% of programs allow students to focus in an area of concentration. The following chart shows the most common specializations offered in online programs.

Prospective students should research the most in-demand skill sets employers are looking for before selecting an area of concentration. The following section discusses the labor market and demand for engineering managers and skills.

According to the Bureau of Labor Statistics (BLS), in 2023 there were 207,800 engineering managers and 592,600 computer managers employed in the US. Significant overlap exists between these two occupations, so it is beneficial to consider both when looking at employment data.