There’s a fine line between choosing between a MEM and an MBA to specialise in management. Master of Engineering Management (MEM) or Master of Science in Engineering Management (MSEM) is a programme created exclusively for persons with an engineering background. It also aids those who wish to advance to the position of manager within their technical expertise. While everyone, regardless of their experience, can benefit from a Master of Business Administration (MBA). They may, however, be ineligible for the perks that a MEM graduate is entitled to.
Continue reading this blog to learn more about the distinctions between MEM/MSEM and MBA programmes.
What is an MBA?
It’s crucial to understand what an MBA is before we can compare MEM and MBA programmes. A master’s degree in business administration is a globally recognised management degree that prepares students for positions in management. MBA is currently one of the most popular professional degrees in the world, and it assists students in gaining necessary abilities. The MBA programme covers a wide range of topics, including:
- Organisational behaviour
- Accounting Concepts
- Operations management
Career Scope in MBA
MEM vs MBA is a significant comparison in terms of the job opportunities for students who complete either of these programmes. MBA graduates can choose from a variety of work options in a variety of fields all over the world. As previously said, an MBA prepares students for managerial positions as a whole, i.e., it helps students acquire abilities that are genuinely valuable in the market rather than focusing solely on academic knowledge. MBA graduates have the possibility to work in the industries listed below-
|Jobs||The following are some of the job profiles available in the aforementioned fields.|
|Business consulting||Marketing manager|
|Investment Banking||Business development manager|
|Equity Analyst||Senior business analyst|
|Data analytics||Project manager|
Salary in MBA
In India, an MBA graduate’s typical income ranges from INR 10 lakh per annum to INR 20 lakh per annum. Not to add, following an MBA, entrepreneurship is an option to consider. Due to the curriculum of the programme as well as the abilities learned during the programme, entrepreneurship is one of the most sought after options following an MBA.
What is MEM?
Our MEM versus MBA comparison now shifts to MEM, and it’s critical to grasp what MEM is all about. MEM/MSEM is a degree in engineering management that serves as a link between engineering, technology, and management. MEM is an engineering management curriculum intended exclusively for engineers, and it provides them with a more in-depth management education that is directly applicable to their profession.
Unlike an MBA, this degree focuses on both technical and business sides of the firm, giving students a broader view on how to address challenges involving complex and dynamic systems.
MEM is frequently referred to as an engineer’s MBA. The MEM curriculum includes the following topics:
- Product marketing.
- Product design and development.
- Technology strategy.
- Supply chain management.
- Intellectual management.
- Management law.
- Project management.
- Applied machine learning.
- Manufacturing management.
Career Scope in MEM
The demand for MEM graduates is particularly high in today’s highly competitive economy. Employers value employees with strong engineering and business backgrounds. As a result, MEM graduates have an aspiring bright future. It is necessary to understand the professional scope of MEM in order to draw a comparison between MEM and MBA. Here are some of the jobs that MEM graduates have held:
- Data Analytics.
- Product Management.
- Marketing Management.
- Client Services Analyst.
- Automation Engineer.
- Automation Engineer.
- Firmware Engineer.
- Forensic Analyst.
- Economics Consultant.
Salary in MEM
MEM graduates can expect to earn between $78,000 and $110,000 per year.
Which is better, MBA or MEM?
The MEM curriculum has a strong emphasis on technical disciplines while also providing management and leadership training. An MBA, on the other hand, is a great fit for graduates from any specialty.
Is MIB better than MBA?
The MIB degree has a different academic focus than the technical MBA degree. It also means that MIB students are younger than MBA students, who are often in their late twenties or early thirties.
Is an MEM degree worth it?
The NPV of a MEM degree from the United States is quite high, regardless of college rating. If you are currently employed in India and earn around 5 lakhs per year, a master’s degree in Engineering Management from the United States is a no-brainer.