MBA vs MEM
There is been always a battle between MBA and MEM, making a choice between them is always a tough task but career goals define the whole objective to make a decision. Choosing between an MBA and Masters in Engineering Management all depends on the career goal priority and bachelor’s background as well.
What is MBA?
Masters in business administration, abbreviated as MBA, is a core programme for the business management and leadership and industrial aspects as well. MBA, as its name suggests, focuses on business administration with the major specialization in marketing, human resources, international business, information technology, operations, etc.
MBA is considered the most popular degree worldwide. This programme gives a holistic view and experience of management and organizational business. MBA programme is a well-recognized degree worldwide providing industrial exposure and transforming the raw potential into opportunities.
Many top colleges or universities of the world have very stringent criteria for taking admissions like a certain amount of work experience, strong professional achievements, academic distinctions etc. The world-class MBA degree specifically targets the work-experienced professional who wants further career development by adding practical business, management, and leadership skills. The only declining factor for MBA is that the elite B-schools don't consider fresh graduates for this programme.
MBA is an ideal degree to boost career to the next step. This can be in terms of switching career field, promotion, high paying job opportunities etc.
MBA degree provides:
- Strong and adequate experience in business foundation concepts.
- Industrial exposure via internships, live projects etc.
- Strong business and management core knowledge.
- MBA programmes all over the world are of different variants like Full-time MBA, Part-time MBA, Distance MBA, Online MBA, etc., and you can choose the one according to your requirement.
World’s Top MBA colleges are Harvard, Stanford, LBS, HEC Paris, etc.
Requirements and eligibility for MBA:
- A bachelor’s degree from a recognized university.
- English language proof ( TOEFL)
- Updated CV
- Essays and letter of recommendation
- Letter of motivation
- GMAT score
- Work experience proof
- All transcripts related to academics
What is MEM?
As its name suggests, it is an engineering degree and this program is designed to enrich the blend of advanced technical courses with core business courses and is considered as best fit for today's technology companies with a core curriculum in economics, operations, and marketing.
MEM gives you an advantage of business acumen in strategy, marketing, and finance much similar to an MBA, with technical background and knowledge as well.
While MBA gives only the business administration, marketing, and leadership aspect, this program is designed to cover the wide variety of business aspects like accounting, operations, organizational behavior, economics, finance, and leadership etc. It does not specifically focus on technology but focuses on core business and marketing concepts as well.
MEM program is very specific for those who have hands-on technology or engineering education background and want a career boost with management and engineering experience and knowledge both.
The syllabus has been comprised of technology and business courses. Engineering Statistics, Project Management, Foundations of Engineering Management, Quality Systems, Six Sigma, Information Systems Engineering.
MEM degree is known by different names like MSEM (Master of Science in Engineering Management), Masters in Technology Management (MTM) and SDM (System Design & Management). MEM programs have an advantage of having the core subjects of engineering as well as management. There is also a specific MEM elite school group, known as “MEMPC”.
What is MEMPC?
MEMPC (Master of Engineering Management Programs Consortium), The Master of Engineering Management (MEM) consortium is a highly selective and elite group of professional graduate programs to provide the right programs for the right candidate.
MEMPC members work as a consortium to provide guidance to high potential students to enlighten their blend of technical and management to improve them and make them capable to lead companies of the generation 'Z'.
- Cornell University
- Dartmouth College
- Duke University
- Johns Hopkins University
- Massachusetts Institute of Technology
- Northwestern University
- Purdue University
- TUFTS University
- University of Southern California
MEM program also provides specialization in many core subjects. Electives are mentioned below:
- Accounting for Managers
- Corporate Finance
- Organization Design and Behavior
- Marketing Management
- Organization Information Systems
- Operations Management
- Industrial Financial Decisions
- Leadership in a Global Environment
Admission requirements for MEM
- TOEFL or IELTS score for non-native students.
- A bachelor’s degree in engineering or STEM discipline.
- GMAT or GRE scores.
- Letter of Recommendation.
- A Statement of Purpose and few essays on the specific topics mentioned.
Difference between MBA vs MEM
Most of the colleges consider those applicants who have professional work experience.
MEM colleges focus on bachelor’s degree with engineering background.
Most of the MBA applicants are working professional and they just want career development boost.
MEM applicants focus on the placement and new kick start their career in the respective industry.
MBA programme is a holistic management and business oriented degree.
|Managerial and technical
MEM programme consist of both management and technical aspects.
MBA students particularly get placements in consulting, finance, management, banking firms.
MEM students get job in both management as well as in technical firms like: R&D, industrial management, technology entrepreneurship etc.
What should I pursue?
Opting MEM vs MBA as a postgraduate programme ultimately boils down to your passion and goal. If you have an engineering bachelor’s degree and want to continue that with management skills and knowledge, and have interest in the field of engineering then you can go for Masters in Engineering Management (MEM).
And opting for MBA ultimately focuses on business management, communication, leadership skills, and is suitable when you have more interest in management skills. MBA colleges accept a wide variety of bachelor’s degree, but in MEM the bachelor’s degree should be of engineering background.
Salary of MEM vs MBA
According to Ohio University article on MBA v/s MEM, MBA median salary after 10 years is $107,765 whereas, MEM median salary after 10 years is $98,626.
MEM program duration is usually from 9 months to 24 months.
Whereas, MBA program duration is generally from 12 months to 24 months.
Top companies who recruit MBAs are:
- Mckinsey & Co
- Boston consulting group
- Goldman Sach
- Bain & company etc.
Top companies who recruit MEMs are:
- Lockheed Martin
- Intel etc.
Choosing MBA or MEM depends on the interest, bachelor degree background, and career goal. Both the degrees have global recognition and ample career development opportunities.