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Dear Aspirant,
Firstly let me tell you that ME and MBA cannot be compared. Oranges are oranges and apples are apples.
If you are interested in technical domain job, then doing ME would be the best.
MBA will only help you when you have gathered about five years of work experience. Doing MBA right after BE will land you in non-engineering jobs most likely.
If you want to do MBA, then MBA Operations is the only option which should be chosen by an Engineer, so that he gets opportunity to work in engineering as well as get chance to rise to management cadre.
Best wishes
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