One of the main questions that haunts the mind of a candidate aspiring a management degree is whether to pursue an MBA course or PGDM course. This is when it’s necessary to understand the major difference between the two.
Master’s in Business Administration, also known as MBA, is a degree that is offered by both government as well as private universities and the various colleges that are affiliated to these universities.
While Post Graduate Diploma in Management, also known as PGDM is a diploma course offered by b-schools and colleges that are recognized by the All India Council for Technical Education (AICTE).
However, graduates from both these programs are eligible for the jobs related to management. In order to pursue MBA or PGDM courses, joining one of the best management institutes in India can make a lot of difference.
There are various aspects that need to be taken into consideration before making a choice between MBA and PGDM. A few key considerations are:
If you are interested in a corporate job and want to build a career in it, then you can go with any PGDM or MBA program of your choice. The thing that matters the most is what you learn at the b-school or college and the opportunities that will come your way and help you evolve. Here, rankings, faculty, curriculum, industry-integration, and placement are of utmost importance. There are many management institutes in India that offer both the programs.
One of the most significant aspects to take into account while making a decision is the budget. For PGDM and MBA courses, the fee structure ranges from Rs. 25,000 to 25 lakhs. Educational loan is available from all the major banks to pursue both these programs. You must also calculate the return on investment before deciding your budget.
You can enrol with b-schools or colleges after clearing any one of the Entrance Tests among CAT, XAT, CMAT, MAT, GMAT, MAH-CET and ATMA. If you score well in these examinations, you can get admission into the top management institutes in India. Having knowledge about these examinations and admission requirements of different institutes is necessary before proceeding further.
Everyone cannot score exceedingly well in CAT, therefore getting admitted into one of the best institutes may seem difficult. However, you can look for other good b-schools with a comparatively low fee structure and pursue your preferred program.
Undoubtedly, MBA or PGDM courses will help you grow in the future. Your quest for learning managerial skills and setting up a business of your own can be fulfilled by making the right selection of colleges. You must visit the websites of some renowned colleges and search for the most suitable one and take the right step forward. There are numerous management institutes in India so you must decide wisely.
When it comes to the curriculum, MBA courses generally have a certain amount of rigidity in the system as their study material is fixed. Changes in the syllabus take place after a particular period of time owing to the industry modifications. Whereas in PGDM courses, the syllabus gets periodically updated to meet the emerging requirements of the industry. Emphasis is given to practical learning rather than only theory-based learning.
Looking at these factors, it can be said that one must weigh the advantages and disadvantages based on the end goal, fee structure, and academic ability before taking any decision.
Most of the business firms treat MBA and PGDM degree holders equally and do not differentiate at all. All they require is a candidate who understands business issues, performs well and possesses the qualifications and skills needed for the job.
Hence, the most important thing is to join a reputed institute rather than having ambiguity between an MBA and PGDM.