<p>Here’s a long, but straight answer:
The best I can say is the PMP and the MEM are similar, but different. </p>
<p>The PMP requires about 4000 hours of project management experience before you can even sit the test. The PMP is primarily project management focused and uses all the same general concepts, but has it’s own definitions of things you need to know. Basically it’s like takign what you already know, translating it into Chinese phrases, then regurgitating it back out for a test, brain dumping all the Chinese phrases, then going back to what you knew in the first place. Unlike a MEM, the PMP is not an education, it’s a certification. Like most certifications there’s a slight degree of fork over the cash, study a little, and presto changeo, you’re a PMP. There’s a lot of value in it and it is far better than a lot of certifications, but it’s not a substitute for a degree.</p>
<p>The MEM degree teaches you PM principles and application, but then adds on concepts like quality control, systems engineering, operations research, supply chain management, logistics, finance etc. In short, the MEM teaches you what you need to be an effective PM plus gives you the tools and insight to see the bigger picture. I personally think the MEM makes you far more rounded as a manager than just having a narrow scope of the PMP. You will actually learn concepts from the MEM and be able to apply them, not just look at a Gantt chart and spit out some instant expert keywords to wow your boss.</p>
<p>If you have the time and money, I think you’d find the MEM more valuable both personally and professionally. Otherwise, the PMP is cheaper and lets you put some fancy initials after your name and gets a pay raise. If I just had to pick one, I’d go with the MEM hands down. If I had to pick two, I’d get a MEM and your PE. Three things, MEM, PE, then technical Masters. Get your PMP last unless there’s really some significant financial incentive to do it sooner.</p>