It's ME/IR, MEP not required, and MEP is not important.
First renewal in sim is around £750, second renewal in aircraft probably the double I would guess.
But agree with you Rui Dias, you have to put priority on what you want.
No ME/IR = 99% chance not getting a job.
Might not be to much better odds if you have the ME/IR, however you got to have it, to be in the race, if not, you are not even close.