After graduation, most students are inclined toward management studies. For a postgraduate degree in Management, most students prefer an MBA. However, many more management degrees prepare students to take up management positions. And one such degree is called the MEM or Masters in Engineering Management.
Although both are management degrees, there are some critical differences between the two that a student should be aware of before choosing a management degree.
MEM vs MBA
|MBA is a management degree focusing on all the different management aspects.
|MEM is a postgraduate degree whose primary focus is the technical aspects of managing a business.
|Business law, accounting, marketing, finance, etc.
|Finance & accounting, technology strategy, product management, data science, economics, etc.
|Bachelor’s degree in any subject
|Bachelor’s degree in engineering
|Teaching students how to make better decisions that can shape businesses to run effectively in the short and long run.
|To develop leadership and management skills to help students manage big and complex engineering projects.
|Leadership skills, marketing, and business skills, and overall management skills
|Better decision-making along with technical skills
|Duration Of Course
|12 -15 months
|INR 32-46 lakh (Average)
|INR 50-72 lakh (Average)
|Upto INR 75 Lakhs
|Upto INR 62 Lakhs
|Government and Non-profit, Consulting, Finance and Accounting, Business or Consumer, Products and Services and Banking Finance, etc.
|Finance and Accounting, Computer Hardware and Software, Business or Consumer Products and Services, Healthcare, Defence and Aerospace, Consulting, Pharma and Life Sciences etc.
What Is An MBA Degree?
MBA, or Master of Business Administration, is a world-renowned management degree. This degree prepares students to take up managerial roles at various organizations. This degree includes Finance Marketing, Operations Management, Accounting Concepts, and Organizational behavior. Students can also choose an elective subject, allowing them to explore different courses and areas of interest.
Top Universities That Offer MBA Degree
Some of the top universities that offer an MBA degree are as follows –
- Stanford Graduate School of Business
- London School of Business
- The Wharton School, University of Pennsylvania
- Kellogg School of Management
- The University of Chicago Booth School of Business
- Harvard Business School, Harvard University
- MIT Sloan
- HEC Paris
Career After MBA
The average salary that an MBA graduate gets in India is between INR 10 lakh p.a.- INR 20 lakh per annum. An MBA degree allows a student to apply for a wide range of jobs across various industries, such as –
- Business Consulting
- Equity Analyst
- Investment Banking,
- Data Analytics
Job profiles that a student can expect to get in these fields are –
- Marketing Manager
- Project manager
- Senior business analyst
- Operations Manager
- Business development manager
Work Experience Required For MBA
To get admission into top MBA schools in countries like Canada, Australia, New Zealand, the UK, United States, a student must have 2-3 years of work experience.
What Is An MEM Degree?
MEM, or Masters in Engineering Management, is a specialized management degree for engineers, making it a management degree relevant to their career. The degree focuses primarily on the technical aspects of a business and gives students a broad perspective that will help them solve issues associated with dynamic systems.
Key subjects in this Degree are Product Marketing, Technology strategy, Finance, Project management, Manufacturing management, Management law, Product design, development, etc.
Top Universities That Offer An MEM Degree
If one is planning to pursue the MEM degree, here are some top universities they can opt for –
- Washington University in St. Louis
- Pennsylvania State University
- The Ohio State University
- The University of California, Los Angeles
- The University of Wisconsin
- The Technical University of Munich
- Cornell University
- University of Birmingham
- Duke University
- Northwestern University
MEM graduates have become quite popular in the industry and are in high demand in the market. After getting this degree, one can expect an annual salary between INR 62 lakhs and INR 87 lakhs. These graduates usually get job positions such as –
- Data Analytics
- Firmware Engineer
- Forensic Analyst
- Client Services Analyst
- Automation Engineer
- Product Management
- Economics Consultant
- Marketing Management
- Automation Engineer
Work Experience Requirements
One can apply for a MEM degree with an engineering degree. In addition to it, they do not require any prior experience to apply for this degree.
Which degree is better, MEM or MBA?
MEM focuses more on technical disciplines while teaching management studies. However, if one does not have an engineering degree, one cannot apply for it. So, an MBA degree is comparatively better as it is open to graduates from all disciplines.
Can one see engineering management as a good career option?
Yes, engineering management is a good career option as it opens the door to various top job opportunities that one can go for.
The above discussion must have helped anyone be confused between an MBA and a MEM degree. So, if one has decided which degree would be the best for them, they can get in touch with 21K School to pursue the degree of their choice.