MBA vs. PGDM: Students who want to pursue post-graduate work in the business and management fields frequently wonder whether they should pursue an MBA or PGDM. Students frequently struggle with choosing between these two courses because of how similar they are. In essence, both the Master of Business Administration (MBA) and the Post Graduate Diploma in Management (PGDM) are master level management programmes. The two share a lot of similarities. Both the MBA and the PGDM are business-focused programmes. One can pursue a PhD after finishing both courses. From the perspective of future employment opportunities, both of these courses are equally valuable. Admission to PGDM programmes occurs through state-level entrance exams such as CAT, MAT, JAT, ATMA (CAT/ MAT/ XAT/ ATMA), and TSICET, MAH-CET, whereas MBA programme admission also occurs through CAT, MAT, CMAT, TSICET, MAH-CET, etc. However, if you look closely, you can still see some differences between the two.
PGDM is a diploma programme
Although they are equally important in the world of employment, MBA continues to be in demand because it is a degree programme while PGDM is a diploma programme. Many students believe that diploma courses do not have the same value as degree courses. However, this is untrue. Many of the nation’s IIM institutions as well as other premier B-schools, including XLRI Jamshedpur and SP Jain Institute of Management and Research Mumbai, offer PGDM and PGP programmes (Post Graduate Program in Management). Most of these institutions are independent organisations. They are not connected to any academic institution. The only professional value difference between an MBA and a PGDM is one of name only. In the job market, both courses are equivalent.
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According to an expert, PGDM lacks the bookish knowledge that MBA has. The theoretical ideas and technical aspects of management receive more attention in MBA programmes than the practical approach. In contrast, the development of management skills and a practical approach are given more focus in PGDM programmes. The PGDM programme was created to meet the demands of the market and industry.
MBA vs. PGDM: Differences in the Syllabus
The majority of the time, the university creates the MBA course syllabus. In two MBA colleges that are part of the same university, the curriculum will be quite similar. However, the same institute prescribes PGPM or PGDM courses. Since the institute determines the course syllabus, changes can be made with ease. In other words, it is adaptable. Every year, the syllabus is updated to reflect changes in industry standards. Universities fall behind in the race for change and frequently update their course offerings. According to experts, PGDM may be a better choice for those who are thinking about entering the corporate world or starting their own business. The AICTE has approved its curriculum.
MBA vs. PGDM: The Fee Issue
It has been noted that most MBA programmes charge lower tuition than PGP or PGDM programmes. This may be due to the fact that the majority of universities with government recognition offer an MBA. These institutions receive government grants and financial aid, which helps students afford their degrees. For PGP or PGDM degrees, the students are responsible for covering the full cost of the programme. This is not a set rule, though. Many institutions charge higher MBA fees than PGDM fees.
Which programme, PGDM or MBA, is superior?
The response to this query depends on your interests and professional objectives. Here, your institute’s name is very important. Which MBA or PGDM course is more valuable? This can be determined not by the course’s name but rather by a number of aspects, including the calibre of the curriculum and pedagogy as well as the institution’s standing and reputation.
Not all IIM institutes offered an MBA degree as of 2017. Others have provided PGDM and PGP keys in the past. After the IIM Bill was approved by Parliament in 2017, the IIMs were able to award MBA degrees.