When it comes to getting a postgraduate degree in management, the MBA is the first option that everyone considers. However, other management degrees train students for full-fledged managerial roles. A Master in Engineering Management is one such postgraduate degree (MEM). Although MEM is a management degree, it is not the same as an MBA. Many individuals are perplexed by the distinction. There is a fine line between the two terms, which must be understood. Continue reading this blog to learn more about MEM vs MBA, including a lot of other details like MEM vs MBA salary, etc.
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Table of Contents |
Overview of an MEM
Masters of Engineering Management (MEM) is a professional post-graduate course that helps to make a connection between engineering, management, and technology. The Masters in Engineering Management, also known as the “Engineer’s MBA,” is an excellent choice for engineering grads who want to strengthen their technical skills with business understanding and advance to a higher managerial level with a technology base.
Top specialisations offered under MEM are:
- Strategic Leadership and Management
- Construction Management
- Software Product Management
- Conflict Management
- Leadership Development for Engineers
Overview of an MBA
The Master of Business Administration (MBA) is a well-known management degree course that educates students for positions in management. MBA is currently one of the most popular professional degrees on the earth, assisting students in developing relevant abilities.
Some specialisations offered under MBA are:
- General Management
- International Management
- Strategy
- Finance Leadership
- Entrepreneurship
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Difference between MEM vs MBA
When talking about MEM vs MBA, and particularly the difference between MBA and engineering management, one should know that both MEM and MBA have certain differences in terms of eligibility, teaching method, course duration, and others. It is better to have a complete idea about the same.
Given below are some key differences between master of engineering management and MBA:
|
Basis |
MBA |
MEM |
|
Eligibility |
Skilled professionals |
Recent graduates |
|
Age |
The average age of the candidate is 27 years |
The average age of the candidate is 23 years |
|
Teaching style |
Practical approach |
Theoretical learning |
|
Curriculum goal |
Earning industrial knowledge |
Starting with the basic level |
|
Tuition fees |
High |
Medium |
|
Course duration |
2 years |
10 to 12 months |
|
Job opportunities |
Mid-level position |
Entry-level position |
|
Average Salary per Annum |
45,569 USD |
20,135 USD |
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List Of Top Universities to Pursue MEM and MBA
Given below is the list of top universities to pursue an MEM:
|
University |
QS World Ranking 2022 |
Annual Fees (in USD) |
|
31 |
71,003 |
|
|
96 |
52,987 |
|
|
37 |
52,447 |
|
|
90 |
18,015 |
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Almost every other university and college globally offer MBA courses under different specialisations. Given below is the list of top MBA colleges across the globe:
|
University |
QS World Rankings 2022 |
Annual Fees (in USD) |
|
Stanford Graduate School of Business |
3 |
12,717 |
|
Harvard Business School |
1 |
55,107 |
|
INSTEAD |
2 |
1,07,902 |
|
IE Business School |
14 |
21,195 |
|
2 |
12,500 |
Scholarships for MEM and MBA
When differentiating between MEM vs MBA, students can seek scholarships or grants offered by universities to pursue both MBA or MEM programs.
These scholarships can help in bringing down the cost of the course. Some of the highly popular scholarships to distinguish master of engineering management vs MBA are:
|
Scholarships for MEM |
Scholarships for MBA |
|
Narotam Sekhsaria’s Scholarships |
Global Study Awards with the grant of USD 10,597 |
|
K.C. Mahindra Scholarships For Post-Graduate Studies Abroad with grant of USD 10,491 |
Oxford Pershing Square Scholarship: USD 16,541 |
|
Hani Zeini Scholarship with the grant of USD 1,000 |
Central Sector Scheme of National Overseas Scholarship with variable grant |
|
GyanDhan Scholarship with variable grant |
Go Clean Scholarship with variable grant |
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Career Opportunities after Pursuing MEM and MBA
Another distinguishing factor for MBA vs engineering management is job opportunities post graduation. MEM graduates have promising career opportunities. MEM is a favourite alternative for engineers who wish to pursue additional education while staying in contact with the technology business. It is often seen as a desirable option for students with a solid technical background.
Some top job profiles for MEM are:
- Data Analytics
- Operations
- Automation Engineer
- Automation Engineer
- Firmware Engineer
- Forensic Analyst
- Economics Consultant
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MBA graduates also have decent career opportunities. Not just in India, but abroad there are a number of jobs with good pay scales for MBA graduates. Some top job profiles for MBA graduates include:
- Business consulting
- Investment Banking
- Finance
- Equity Analyst
- Data analytics
- Marketing manager
- Business development manager
- Operations manager
- Senior business analyst
- Project manager
To sum up the difference between MBA vs engineering management on the basis of MEM vs MBA salary, we have tabulated the following table with MEM vs MBA salary:
|
Program |
Salary per Annum (in USD) |
|
MEM |
95,370 |
|
MBA |
62,000 |
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Considering the factors mentioned above for the difference between MBA and engineering management, MBA is an excellent course to choose if you have some work experience; otherwise, the MEM program is suitable for you if you don't have any work experience.
We have covered maximum aspects of the difference between master of engineering management vs MBA. Both MBA vs engineering management, offer equal opportunities for students with a good pay scale in the long term. Once students are equipped with the knowledge, it becomes easy to choose and pursue the course.
