Overview of MBA and PGDM
PGDM Vs MBA, are you wondering which course is going to be more beneficial for you in the long run? Let us break down the pros and cons for you.
Masters of Business Administration (MBA) is a graduate business degree that focuses on providing both theoretical and practical knowledge as well as training for business or investment management. An MBA degree is designed to give you a better understanding of business and management in the fields of accounting, finance, business law or marketing. Major universities and colleges provide MBA programmes which are a level up from undergraduate degrees. Even business schools are now offering sports management, healthcare management, hospitality, entrepreneurship and various other programmes. These programmes are usually for one to two years. It helps you focus on corporate responsibilities, business strategy, organisational behaviour and planning. To enrol in an MBA programme, you need to appear for the Graduate Management Admission Test (GMAT).
Post Graduate Diploma in Management (PGDM) offered by private institutions is a programme that has been designed to imbibe technical skills and conceptual understanding in students. The target is to provide holistic knowledge to the students and make them capable to take on future challenges.
PGDM Vs MBA – here’s a detailed explanation of their differences, scope and job opportunities.
Difference between PGDM and MBA
While both are postgraduate level management courses, there are significant differences between an MBA degree and PGDM.
- The first and foremost difference between MBA and PGDM is that PGDM is a diploma course while MBA is a degree course. Both of these courses train you for leadership and managerial positions but are quite different in terms of technicality. Students who complete their PGDM course are awarded a diploma, and a certificate degree is given to students on completion of an MBA course.
- Affiliation and accreditation are major MBA and PGDM difference. An MBA degree can be offered by affiliated universities and institutions. Whereas PGDM courses are offered by autonomous institutions and are recognized and regulated by All India Council for Technical Education (AICTE).
- While the core syllabus is pretty much the same for both MBA and PGDM courses, in the case of PGDM, individual institutes determine the syllabus. This ensures that the syllabus is always updated and relevant in recent times. The MBA course, on the other hand, is formulated by the university and the syllabus is comparatively rigid. It is also the same in two different MBA colleges recognized by the same university.
- The cost and expenses of MBA or PGDM programs are a major point of differentiation. The tuition fee for an MBA degree is lesser than that of a PGDM course. While most of the MBA offering colleges are approved by the government, they receive financial aid and support, and the degree course is more economical for the students. On the other hand, students have to bear the cost of the entire PGDM course because these are available in private colleges which get no financial help from the government.
- For a PGDM course, an individual can get entrance through CAT/MAT/ATMA/XAT and some state-level examinations. University admissions for an MBA course require state-level entrance examinations like TSICET and MAH-CET. A few universities also accept CAT and MAT. PGDM institutions are authorized by AICTE to conduct the examinations, while examinations to qualify for MBA are conducted by the university.
- 90% out of the top 100 institutes offer PGDM courses in India and provides better training, exposure and guaranteed placements. Rankings depend on the particular institutions, and MBA institutions also ensure a percentage of placements.
PGDM Vs MBA – Which has more scope?
When it comes to innovative practices, in the case of PGDM courses, teaching and training are multidimensional. The course syllabus is dynamic and always updated as per industry requirements. It focuses on the flexibility in the curriculum. Unlike the theoretical MBA course, PGDM focuses more on providing students with exposure to real-life situations and allows them to gain first-hand experience in business matters.
Reputable business schools abroad give preference to PGDM students due to their practical insight and exposure to more learning opportunities like seminars and workshops.
An MBA programme has limited scope for innovation as they are defined by the syllabus prepared by the university. The syllabus is updated less frequently according to the changes and trends in business management. It allows students to explore wide opportunities in information technology, hospitality, education or criminal justice.
Specialized MBA programmes are available for students who chose to do a course without compromising their current lives and career by opting for a full-time course. Executive MBA programmes are designed for working professionals by adding to their credentials and qualifications. These programmes are typically open to candidates who already have professional experience, and therefore, tend to focus more on advanced topics such as leadership development.
At the International level, an MBA degree is recognised for employment and higher studies. Foreign universities require an MBA degree to offer you admissions in Ph.D./Doctoral programmes.
Which is better, MBA or PGDM, for job opportunities?
If we keep aside the difference between PGDM and MBA, the important factor that comes up is the particular institution from where you are doing an MBA or PGDM course. It is necessary to note that the factors that make all the differences are the infrastructure, faculty and teaching methods of the institution. Whether it is a degree or diploma, it is only valuable when done from a reputable business school.
When you are looking for a management course, it is more important that you remember your personal goals. Choose your institution wisely and practically for a successful career path in the field of business management. Both the courses open up job opportunities for you and help in kick-starting your career, but you have to select the institution or business school where your preferred companies hold placements. Prepare yourself for the entrance examinations so that you can get a seat in a reputable management institute. Even if you have to bear huge course fees, always keep in mind that it is a lifetime investment that is going to be fruitful in the future.