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MBA in Energy Management: Prospects & Career Options

Apr 25, 2016 15:35 IST
    MBA in Energy Management: Prospects & Career Options
    MBA in Energy Management: Prospects & Career Options

    In this irresolute world, the words ‘innovation’ and ‘new’ have become major entities of marketing to create business opportunities. The same applies to the energy sector of India. Energy is the most basic need for our existence, without which, well, we won’t die (not literally) but feel close to dying (at least I do). Imagine if the electricity runs out, the markets will close down, bollywood will cease to exist, hospitals will crash, millions of people will lose their jobs, trains will stop and your computer will stop functioning simultaneously. And if that happens in India, you’ll probably die of heat (turns out I am wrong, you can die).     

    Power is what we strive for. It drives our economic growth and is a lifeline of a prosperous civil society. Amongst the largest energy consumers in the world, India holds the 6th place. As per the predictions, the demands of energy will boost to 50% over the next 20 years. At the same time, the energy sector is wavering with huge investments, requiring fresh theories for energy generation, management, and sustainability.

    Ramesh Kymal, the Managing Director of Gamesa India has stated that:

    This article would provide you in-depth information about the opportunities which Ramesh Kymal is trying to highlight in his concise words. Jagranjosh brings for you up-to-date information pertaining to the various dimensions of MBA in Energy Management course. So, read along and clear all your doubts regarding this programme. The article will cover the following topics:

    1. An Introduction to Energy Management
    2. Eligibility Criteria for pursuing Energy Management course
    3. Why choose a career in Energy Management
    4. Syllabus for MBA in Energy Management
    5. Career Options/Opportunities after MBA in Energy Management
    6. Pay Packages offered to Energy Management graduates
    7. List of Top/Best Colleges of MBA in Energy Management
    8. List of Top Recruiters that hire Energy Management professionals

    What is MBA in Energy Management?

    MBA in Energy Management is a two-year programme that builds your competencies to think logically, practically and independently so as to direct you towards a career path in Energy industry. What you will gain from this course will give you an exclusive perspective on the future of business in the energy and power sector. Not only you will be able to enhance your skills but put them into practice as well.

    MBA in energy management promotes the ideologies of new and innovation in following sectors:

    Why MBA in Energy Management?

    As mentioned before, India is the 6th largest consumer of energy. Power in the form of coal, natural gas, oil, nuclear and hydro energy have been entitled to be the most crucial components for the welfare of civilizations. The incessant demand for electricity is only expected to increase in the coming years.

    The government of India is highly focused on obtaining ‘power for all’. To meet this demand, it is imperative to commence efficient strategies for generating, managing and sustaining energy and introducing more installations of power generation. Apart from this, finances, logistics and man-power are the assets of the competitive energy market that have been lagging far behind.

    There are around 293 international and national companies situated in India that have aimed at producing 266 GW of wind energy, solar energy and biomass-based power, all in the time span of 5 to 10 years. From 2000 to 2015, these companies have increased in number, along with attracting 9.97 billion US dollars in FDI (foreign direct investment).

    The energy sector of India has witnessed several developments. Listed below are more to come:

    In the coming years, the projected investment in the Indian power sector is 237 billion US dollars. This results in abundant amount of opportunities in the domains of power generation, transmission, maintenance and distribution.

    When looking at the electricity production in India, at 2015, the generation was boosted by 8.4% in FY 15. Approximately 15 GW of electricity is traded every year in India. From the fiscal years 10-15, the electricity has produced at an increase of 6.3 % compound annual growth rate (CAGR).

    In October 2015, the electricity production raised it bar to 654.5 billion units (BU). The same has been depicted in the following figure.

    Figure: Electricity production in India (BU)

    Source: Ministry of Power, TechSci Research

    The total thermal energy obtained from the power station across India was found to be 196.2 GW (Gigawatt) in 2015. The hydro and renewable energy was found to be 42.6 GW and 37.4 GW. As per the 2014 report of British oil giant, the requirement of energy in India will reach its height till 2030-35.

    It will be the topmost energy demanding country among all the others in the world. It is expected that:

    • In the coming year, the extent of solar energy production will reach to 6.5 GW from 525 MW (mega watts).
    • The wind power energy is anticipated to rise by 20% and almost double by 2020.
    • As anticipated, the contribution of solar capacity in the energy sector is going to likely to amplify up to 11% in the fiscal year 16.

    When considering the power generation in India, it is observed that the thermal power production leads from hydro, nuclear and renewable by 195.6 GW. The others are installed at a capacity of 42.5 GW (hydro energy), 36.5 GW (renewable) and 5.8 GW (nuclear). It is anticipated that the sector of power will witness an addition of 88.5 GW of the total energy sources.

    Figure: Installations of different sources of power in 2015 (in GW)

    Source: Ministry of Coal, NHPC

    The energy sector of India is constantly changing and evolving, where solar energy is up surging as the revitalizing source of energy. The industry of energy is the most profitable one amongst all, which is highly contributing to the global economy. MBA in energy management is committed in acquiring a flourishing generation of youths capable of being leaders in the energy sector. The motive is to generate productive management professionals with comprehensive subject knowledge.

    Eligibility Criteria for MBA in Energy Management

    The degree of MBA in energy management will impart you subject-specific intelligence and provide you an insight into the struggles of energy market. For acquiring this knowledge, you need to qualify the following criterions:

    • A bachelor’s degree in the relevant subject with 50% of aggregate marks
    • Clearance of entrance examinations that might be university’s specific or clearing CAT/GMAT/XAT/SNAP/CMAT.

    The final selection of a student in the MBA programme is dependent upon the entrance examination score, personality assessment, intelligence and educational background.   

    Skills required for MBA in Energy Management

    The basic skills that form the foundation of an MBA mind are listed below in the form of questions:

    Can you adapt to market changes?

    Do you have a never-ending learning attitude?

    Are you a strategic thinker?

    Are you equipped with decision-making skills?

    Can you blend traditional approaches to market needs?

    Are you altruistic?

    Do energy sciences interest you?

    Are you innovation and technology oriented person?

    Do you believe in eco-friendly concept of running society?

    MBA in Energy Management Syllabus

    MBA in energy management offers specialization in various domains of energy sector, such as renewable energy, power, oil and gas, energy efficiency and sustainable consumption of energy resources. Some of the prominent subjects taught in the duration of 2 years under this course are:

    Power Economics

    Hydro & Nuclear Power Resources management

    Human Resource Management

    Energy Power Trading & Network Administration

    Power Transmission and Distribution

    Marketing Management

    Fuel Resources and Technology & Management

    Distribution Automation and Smart Grid

    Solar Energy- Economics, Technologies & Regulation

    Supply Chain & Logistics for Power Industry

    Global Energy Business

    Power Sector Structure & Functioning

    Financing Energy Sector Projects

    Wind & Alternative sources of Energy

    Energy Conservation and Audit

    Energy Law & Policy

    MBA in Energy Management: Career Option

    Having this degree on your wall won’t just be a certification of your knowledge; it will be the door that opens up into the enormous career opportunities of energy business. You will be eligible to apply your concepts into preserving environment, managing energy, facilitating training, and successfully negotiating within the field. Not only that, you can lead your career to the path of consulting, researching and analyzing. This is a program to be in if you are keen at utilizing your analytical skills in the amorphous energy business. You can be a:

    Pay Packages for Energy Management Graduates

    The salaries acquired immediately after pursuing the degree in MBA in energy management ranges from 4 lakhs to 10 lakhs per annum (which also depends on your institute and their placement department). With expertise and experience, you can land a job with 1 lakhs per month. Some of the average salaries (tentative) with following titles are:

    Job Profile

    Average Salary

    Energy Auditor

    Rs. 234,000

    Technical Consultants

    Rs. 242,596

    Pricing Analyst

    Rs. 266, 990

    Energy Manager

    Rs. 621,000

    Senior Process Engineer

    Rs. 1,147,826

    Energy Management Specialist

    Rs. 1,700,000

    Top colleges for MBA in Energy Management

    The top most colleges offering this course are:

    1. Institute of Energy Management and Research, Gurgaon
    2. Great Lakes Institute of Management
    3. NICMAR, Pune
    4. MDI,  Gurgaon
    5. University of Petroleum and Energy Science (UPES), Dehradun
    6. Power Management Institute, Noida
    7. Rajiv Gandhi Institute of Petroleum Technology (RGIPT), Raibareilley, UP
    8. National Power Training Institute, Faridabad
    9. Thapar University Patiala
    10. University of Petroleum and Energy Studies
    11. Amity university, Noida
    12. Indian Center for Management & Human Resource Development (ICMHRD), Pune

    Top recruiters for MBA in Energy Management

    Following is the list of major power utilities of India that hire graduates of MBA in Energy Management:

    1. Sun Edison
    2. Tata power
    3. NTPC
    4. Reliance Power
    5. Damodar Valley Corporation
    6. National Power Corporation of India
    7. Lanco Infratech
    8. CLP Power
    9. Neyveli Lignite Corporation
    10. Adani Power
    11. NHPC
    12. Torrent Power

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