It counts for total time, but you will need several hundred ME hours too.

If you are planning on doing 135 to build ME, then you can meet the 135 pic mins with 1200 ASEL.

If you work at a school which employs MEI's, you may as well build ASEL time while waiting your turn for an MEI job.

If your school does not employ MEI's, you will not be getting an airline job from that position. Better look into MI jobs elsewhere or 135.