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:
MEM vs MBA: Comparison Chart
|Definition||MBA is a postgraduate degree for management that focuses on all types of disciplines.||MEM is a postgraduate degree in engineering management that focuses on the technical management aspect of the business.|
|Subjects Offered||Marketing, business law, finance, accounting, etc.||Finance & accounting, data science, product management, technology strategy, economics, etc.|
|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)|
|Salary Offered||Upto INR 62 Lakhs||Upto INR 75 Lakhs|
|Industries for employment||Consulting
Government and Non-profit
Finance and Accounting
Business or Consumer Products and Services, etc.
|Computer Hardware and Software
Finance and Accounting
Business or Consumer Products and Services
Defence and Aerospace
Civil, Environmental, Energy
Pharma and Life Sciences
Government and Non-profit
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 that prepares students for managerial roles. MBA is one of the most popular professional degrees in the world right now which helps students develop relevant skills. MBA curriculum offers education in a wide range of topics such as-
- 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 that 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 specialization in MBA.
Must Read: MBA in Banking and Finance
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
- Intellectual management
- Management law
- Project management
- Applied machine learning
- Manufacturing management
Explore: Masters in Engineering Management in Canada
Top Universities for 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, University of Pennsylvania
- Harvard Business School, Harvard University
- MIT Sloan
- HEC Paris
- London School of Business
- The University of Chicago Booth School of Business
- Kellogg School of Management
- Haas School of Business, University of California Berkeley
- IE Business School
- IESE Business School
- University of Oxford (Said)
Top Universities for 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.
|Washington University in St. Louis||USA||Master of Engineering Management||1.5 years|
|The Ohio State University||USA||Master of Engineering Management||1-2 Years|
|Pennsylvania State University||USA||Master of Engineering Management||1-2 Years|
|University of Wisconsin||USA||Master of Engineering Management||1-2 Years|
|University of California, Los Angeles||USA||MS in Engineering with Specialization in Engineering Management||2 Years|
|Northwestern University||USA||Master of Engineering Management||1.3 years|
|Duke University||USA||Master of Engineering Management||1 year|
|Cornell University||USA||MEng Engineering Management||2 years|
|Technical University of Munich||Germany||Masters in Management and Technology||2 years|
|University of Birmingham||UK||Masters in Engineering Systems Management||1 year full-time; 3 years part-time|
MBA 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 focus on theoretical knowledge. MBA graduates have the opportunity to explore the following industries-
- Business consulting
- Investment Banking
- 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.
Work Experience Requirement
In order to be accepted into a top MBA program in countries like the United States, Canada, UK, Australia, New Zealand, Germany etc., you must have at least 2-3 years of relevant work experience and sometimes even more if going for an executive MBA program.
Must Read: MS in Engineering Management – An Engineer’s MBA
MEM 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
- Product Management
- Marketing Management
- Client Services Analyst
- Automation Engineer
- Automation Engineer
- Firmware Engineer
- Forensic Analyst
- Economics Consultant
Note: MEM graduates earn an annual salary of around $78,000 to $110,000.
Also Read: MBA in Canada
Work Experience Requirement
There are many MEM programmes available, including those provided by Cornell University, Dartmouth College, Duke University, Stanford University, University of South California, and others, if you plan to start your post-graduation without any work experience. These schools do not ask applicants to have any prior job experience.
The MEM program focuses on technical disciplines while also teaching management and leadership skills. An MBA, on the other hand, is a good choice for graduates from any discipline, but we’d expect a slew of STEM graduates to show up.
The academic essence of the MIB degree differs from that of the technical MBA degree. It also means that MIB classes have younger students than MBA classes, where students are usually in their late twenties or early thirties.
Regardless of college ranking, the NPV of a MEM degree from the United States is extremely high. If you are currently employed in India and earning about 5 lakhs per year, don’t think twice about having a master’s degree in Engineering Management from the United States. It can be a lucrative investment.
Although engineering is a bachelor’s and master’s degree, the MBA is only a graduate degree available to students from the app streams. Engineering remains a popular option, with thousands of students taking engineering entrance exams each year.
A bachelor’s degree in engineering management will lead to a number of lucrative entry-level job opportunities, with progression based on further education and experience.
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!