The debate goes on to prove which one’s better; MBA (Masters of Business Administration) or PGDM (Post Graduate Diploma in Management). However, what makes an MBA different from PGDM and which can turn out to be an improved choice between the two continues to remain a big question amongst the aspiring management students.
Aspirants who wish to get admission to the reputed B-schools look for the finest pathway for achieving their goals. With the advancement of the entrance season, this dilemma to choose one between the two bothers students to no end.
The confusion regarding either selecting an MBA or a PGDM course does reach the peak at a time when students begin to visit the colleges for GD or PI sessions and counseling. Every B-school does talk big about its Impressive Placement Records, International Exposure, and faculties from the IIT’s and IIM’s and these things make management aspirants all the more confused.
To make matters worse, Education Consultants too play a huge role. Sometimes, students become highly frustrated and so, they do not take the calls anymore for getting admissions. In this situation, EurAsian Times steps forward to explain how an MBA is different from PGDM.
Key differences between MBA and PGDM
MBA is considered a degree course that colleges or universities provide and they happen to be recognized by the universities that have got approval from the UGC (University Grants Commission) and at times, also by the AICTE (All India Council for Technical Education).
PGDM too is a Master’s degree program and the autonomous colleges of institutes that have got sanctions from the AICTE offer this course. A few topmost business schools, such as ISB’s and IIM’s propose PGPM/PGDM program because they lack collaboration with a university.
However, these business schools can boast of a superb international reputation and placement record, and don’t worry about the approvals of AICTE. Again, the organizations don’t show any preference or concern.
The colleges that propose the MBA program do follow the educational syllabus which is proposed by the universities while the syllabus of PGDM is flexible and so, institutes, such as MDI, IMT, IIFT, XLRI, NMIMS, and SP Jain possess the flexibility for modifying their courses within the approved parameters of AICTE and it gives them a huge benefit.
Which one is a better program; MBA or PGDM?
Though the debate on MBA and PGDM goes on and on, a lot is dependent on the college or university from where a student has passed. The program of PGDM does follow a highly practical approach to studies in comparison to the MBA.
When you do an MBA from the topmost institutions, such as DTU, IIT, and FMS, then it becomes equally sought after and acceptable in the market.
The chief factor that makes an MBA different from PGDM is the course fee of MBA is commonly lesser compared to the program of PGDM because PGDM is found with various industrial trips and international exposure programs.
Generally, when you do a PGDM program from the IIM, then it could cost you nearly 28 lakhs. On the contrary, an MBA degree from Faculty of Management Studies, New Delhi would cost you only 2 lakhs.
However, corporates make it a point to recognize talents that come from both these programs. Additionally, they remain more interested in brilliant students and brands instead of caring about an MBA or PGDM program.
Most students suffer from the apprehension that after they undergo a PGDM course, they would fail to pursue higher studies, such as Ph.D. However, if the PGDM happens to be AIU approved, then students would be eligible to pursue Ph.D. programs too.
Aspirants should understand this fact that when they have a PGDM degree in place of an MBA degree, then it wouldn’t make any significant difference to their corporate career. In the end, students do make a huge difference. Students must be very clear regarding their preference for the MBA or the PGDM program besides the institutes they have been opting for.
Additionally, students need to assess the business school’s brand too because a higher brand business school will always propose an excellent learning environment as well as a huge network of alumni.
Which course is better; MBA or PGDM?
Both MBA and PGDM programs are excellent and they happen to be highly similar too. What really matters is the B-school where you have taken admission grounded on your score. Have you completed your PGDM course from IIM-Lucknow or have got an MBA degree from FMS-Delhi University?
- Government jobs that you can get in India – Alongside the corporate sector, several government organizations fail to recognize the PGDM course and when aspirants do government jobs, then they get an edge over other members.
- International jobs – When you feel like getting overseas opportunities or immigrating, then there are chances that your PGDM won’t be valued or recognized similar to a degree in MBA. At times, the IIMs too strive to propose MBA programs in place of Diplomas. When that happens, the programs of PGDM do lose their sheen and colleges also lose huge business.
Basic factors that differentiate MBA from PGDM
| Parameter | MBA from government university | MBA from Pvt. University | IIMs (Indian Institutes of Management) | Private colleges of PGDM |
| Offered programme | MBA | MBA | PGP (Post Graduate Programme in Management) | PGDM |
| Award | Degree | Degree | Diploma | Diploma |
| No. of institutes that offer programme | More than 2000 | 500 | 20 | 500 |
| Top | JBIMS – Mumbai, FMS – Delhi University, PUMBA – Pune University, IIFT – Delhi-Deemed University. Some affiliated colleges of Government universities, such as Bangalore University, Anna University, etc. | Top Pvt. Universities; Symbiosis – Pune, NMIMS – Mumbai, XIM-XUB Bhubaneswar. Above 100 Pvt. Universities propose MBA. | IIM Bangalore, IIIM Ahmedabad, IIM Lucknow, IIM Calcutta, IIM Kozhikode, IIM Indore, and other fourteen newest IIMs. | SPJIMR Mumbai, XLRI, IMT, IMI, MDI- Gurgaon, TAPMI, BIMTECH, KJ Somaiya |
| Degree or Diploma approved or recognized by | UGC | UGC | Approved by Ministry of HRD | AICTE |
| Curriculum | Inflexible as approvals needed from University. Most colleges and universities’ curriculum is theoretical as it doesn’t get updated frequently. | The curriculum of a reputed private university, such as Symbiosis and NMIMS happen to be equivalent to IIMs and reputed PGDM business schools. | Updated frequently. The focus is on the needs of the industry and requirements of a job because the placement is the vital expectation of students. | Updated frequently. The focus is on the needs of the industry and requirements of a job because the placement is the vital expectation of students. |
| A Programme that caters to | MBA which is offered by govt. universities happens to be more ideal for candidates who take interest to earn a degree for an academic career and higher studies. | MBA which is proposed by the top private universities happens to be excellent for academics as well as corporate career. | Students concentrate on improving their skills for employability for an improved corporate career, beginning their enterprise, or a job. | Students concentrate on improving their skills for employability for an improved corporate career, beginning their enterprise, or a job. |
| Fees | When students study at a Govt. college or university, they pay a comparatively less fee. | The MBA fee at a private university is equivalent to IIMs and PGDM business schools grounded on their acceptance in the market. | IIMs continue to have a reasonably higher structure of fee. | The topmost PGDM business schools do charge between INR 10 lakhs and INR 20 lakhs for a two-year MBA. Fee for several excellent PGDM business schools is somewhere between INR 5 and 10 lakhs. |
| The duration of programme | 2 years | 2 years | 2 years | 2 years |
| The conduct of exam | University | University | IIM | By individual college or institute |
| The process of admission and entrance test | A few government central universities, as well as colleges, do accept tests, like XAT/CAT. At times, they conduct their individual entrance tests too. The majority of the government colleges that are governed by State Govts. take admission through state-level exam, such as PGCET, TANCET, MAHCET. | The top Pvt. Universities conduct their individual examinations, like SNAP, NMAT, and X-GMT | IIMs conduct CAT and it is compulsory for the residents of India. | A business school can take its pick from one or several approved examinations, like ATMA, GMAT, CAT, MAT, CMAT, and XAT. |
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Source – The Eurasian Times