When it comes to pursuing a postgraduate degree in management, MBA is the first choice that comes to everyone’s minds. However, there are certain other management degrees as well which prepares students for a full fledged managerial role. One such postgraduate degree is Masters in Engineering Management (MEM). Although MEM is also a management degree but it certainly isn’t the same as MBA. Many people get confused between the two. There lies a thin line between both the terms which is really important to understand. Read this blog further to understand the differences in MEM vs MBA.
Also Read: MEM in USA
This Blog Includes:
What is an MBA?
In our analysis of MEM vs MBA, it is important to first understand what is an MBA. Master of Business Administration is a globally recognized management degree which prepares students for managerial roles. MBA is one of the most popular professional degrees in the world right now which helps students develop the relevant skills. MBA curriculum offers education in a wide range of topics such as-
- Finance
- Marketing
- Organisational behaviour
- Accounting Concepts
- Operations management
Students are allowed to select the electives of their choice, which allows them to explore different areas of their interest.
MBA programs consist of core courses and elective courses. Usually MBA programs are for a duration of two years and the first year of MBA consists of core courses which involve the knowledge of management and analytical skills required for it. However, the second year consists of elective courses where students have the option of opting for a specialization in MBA.
Must Read: MBA in Banking and Finance
Top Universities for Pursuing MBA
There are a variety of top universities offering MBA courses and to understand the difference between MEM vs MBA, we have listed them below.
- Stanford Graduate School of Business
- The Wharton School
- Harvard Business School
- INSEAD
- MIT Sloan
- HEC Paris
- London School of Business
- The University of Chicago Booth School of Business
- Kellogg School of Management
- Haas School of Business
Career Scope
MEM vs MBA draws an important comparison in the career scope for students after either one of these courses. MBA graduates are open to a wide range of job opportunities in different fields worldwide. As already discussed above, MBA serves as a complete package preparing students for managerial profiles i.e. it helps develop the skills which are actually relevant in the market and not just focuses on theoretical knowledge. MBA graduates have the opportunity to explore the following industries-
- Business consulting
- Investment Banking
- Finance
- Equity Analyst
- Data analytics
Job profiles offered in the aforementioned fields are
- Marketing manager
- Business development manager
- Operations manager
- Senior business analyst
- Project manager
The average salary for an MBA graduate in India ranges between INR 10 lakh p.a.- INR 20 lakh per annum. Not to mention that entrepreneurship is also an option to explore after MBA. Entrepreneurship is one of the most sought after choices after an MBA due to the curriculum of the program as well as the skills developed during the program.
What is MEM?
Our analysis in MEM vs MBA now moves on to MEM and it is important to understand what exactly is MEM. Masters in Engineering Management also known as MEM is a management degree in engineering which acts as a link between technology, engineering and management. MEM is an engineering management program specifically designed for engineers and offers them a more detailed management education which is directly relevant to their career. Unlike MBA, this degree focuses on technical aspects of the business as well and provides students with a broader perspective in order to solve problems associated with complex and dynamic systems. MEM is designed completely for people with engineering background as it is associated with the management in the engineering process and thus requires a good knowledge of engineering. MEM is sometimes also called an engineer’s MBA. MEM curriculum covers some of the following subjects-
- Product marketing
- Product design and development
- Technology strategy
- Supply chain management
- Finance
- Intellectual management
- Management law
- Project management
- Applied machine learning
- Manufacturing management
Explore: Masters in Engineering Management in Canada
Top Universities for Pursuing MEM
To understand the differences and similarities in MEM vs MBA, it is essential to understand the top universities offering the MEM course. They are mentioned below.
- Cornell University
- Dartmouth College
- Duke University
- John Hopkins University
- McGill University
- University of Melbourne
- The University of Auckland
- University of Ottawa
- Brunel University London
- Massachusetts Institute of Technology
Must Read: MS in Engineering Management – An Engineer’s MBA
Career Scope
The demand for MEM graduates is really high in today’s world due to the highly competitive market conditions. Companies like having employees with strong engineering as well as business backgrounds. Thus MEM graduates have good career prospects. To draw a comparison between MEM vs MBA it is important to know the career scope of MEM.Here are some of the job positions which MEM graduates work on-
- Data Analytics
- Operations
- Product Management
- Marketing Management
- Client Services Analyst
- Automation Engineer
- Automation Engineer
- Firmware Engineer
- Forensic Analyst
- Economics Consultant
MEM vs MBA
| Basis | MBA | MEM |
| Definition | MBA is a postgraduate degree for management which focuses on all types of disciplines. | MEM is a postgraduate degree for engineering management which focuses on the technical management aspect of the business. |
| Subjects Offered | Marketing, business law, finance, accounting. | Finance & accounting, data science, product management, technology strategy, economics. |
| Eligibility | A bachelor’s degree in engineering | A bachelor’s degree in any field |
| Skills developed | Technical skills, better decision making. | Leadership skills, overall management skills, marketing and business skills. |
| Primary focus | Teaching how to make informed decisions that affect the business in both long run as well as small run. | Help in developing leadership and management skills in order to manage complex and high-level engineering projects. |
| Duration | 12-15 months | 2 years |
| Cost | INR 32-46 lakh (Average) | INR 50-72 lakh (Average) |
Also Read: MBA in Canada
We hope this blog was able to help you understand the difference between MEM vs MBA in a more detailed manner. Thinking of pursuing a management degree from abroad? Get in touch with Leverage Edu experts to get assistance in every step of the way and eventually get admission in your dream university. Sign up for a free session with us now!
