The dilemma of an MBA (Master of Business Administration) vs. PGDM (Post Graduate Diploma in Management) has been a burning question for all aspiring graduates desiring to pursue a postgraduate course in management. Both the courses accord candidates with different opportunities to uplift their chances of a better career prospect. But, before enrolling in either of two, it is vital to understand the prime differences between an MBA and PGDM programs. Before discussing the key differences between them, let’s first understand what is MBA and PGDM.
MBA (Master of Business Administration):
An MBA is a sought-after graduate business degree that covers a variety of business principles. It equips students with valuable business acumen, maximize their professional network, and creates a better career path. The MBA course endows candidates with a comprehensive set of business as well as management skills that they can enact to a wide range of industries and walks of life. It can be an ideal choice for those who want to accelerate their professional trajectory, make the transition to a new industry, or become a business leader.
PGDM (Post Graduate Diploma in Management):
The PGDM is an in-demand postgraduate diploma course that comprises intricacies on different aspects of the business and management field. This is one of the desired management courses that focus on the practicality of business as well as sharpens a student’s mind to tackle the daily challenges proficiently at the workplace. Upon pursuing PGDM programs, one can get a plethora of career opportunities in both the public and private sectors. It encompasses candidates with all the requisite skill sets and facilitates them with insights into real-life business situations.
Here’s are the 5 prime differences between the PGDM and MBA courses:
- Diploma and Degree: The utmost difference between both the courses is that – PGDM is a diploma program, whereas an MBA is a degree course. Most people believe that the market value and career option of a diploma program (PGDM) do not match the level of a degree course (MBA). However, this is just a notion.
- Affiliation and Accreditation: An MBA course can be only offered by colleges and institutes affiliated to universities and is accredited by the University Grants Commission (UGC). On the other hand, PGDM programs are only offered by autonomous bodies that are not affiliated with any university and are regulated by the All India Council for Technical Education (AICTE). Also, accreditation by the Association of Indian Universities (AIU) makes PGDM courses offered by the institute equivalent to an MBA.
- Syllabus and Curriculum: The course curriculum of an MBA is rigid, more theoretical, and not frequently updated by the universities. Due to this rigid stance, the MBA syllabus doesn’t revise often to keep pace with industry demands and market trends. Whereas, PGDM programs are more flexible and frequently updated in accordance with the new changes and trends in business management. These programs ensure students to be up-to-date with the current business management scenarios and are more adaptive at being industry-ready.
- Admission Process and Entrance Test: Top private MBA universities conduct their own entrance exams such as NMAT, SNAP, and X-GAT. Other state government MBA colleges admit through state level entrance examinations like MAHCET, PGCET, TANCET, TSICET, etc. While, b-schools offering PGDM programs generally accept from one or many of 6 approved examinations – CAT, XAT, CMAT, MAT, GMAT, ATMA.
- The Focus of the Course: An MBA course primarily focuses on the evolving technical and theoretical facets of the management field rather than practical knowledge. On the other hand, PGDM programs are more industry-focused and help in evolving the practical knowledge of the students. It is designed to develop the skillsets imperative in the current market and prepares them to competently handle real-life situations.
Today, there is no dearth of top PGDM colleges in Delhi NCR as well as MBA colleges in Delhi NCR and all over India. So, it is first important to acknowledge your career goals and then search for reputed colleges instead of stressing more on degree or diploma.