PGDM or MBA? You may have thought about this question when looking for the best management course for you.
You learn that several of the business schools you want to enroll in are providing PGDM programs rather than the MBA you're genuinely looking for. Why is it a diploma program called the PGDM and not an MBA degree program?
MBA initially refers to a master's degree in business administration, and PGDM initially refers to a postgraduate diploma in management.
Although both two-year programs are designed to prepare students for lucrative management careers and are offered by renowned B-schools, there are some notable similarities and differences between the two.
What separates a PGDM from an MBA
For your information, a quick comparison of the MBA and PGDM courses is provided below.
|Full-Form||Master of Business Administration||Post Graduate Diploma in Management|
|Qualification||Degree Course||Diploma Course|
|Duration||2 years||1-2 years|
|Eligibility||Graduation in any UG course of any stream with a minimum of 50% of marks in UG from a recognized university||Graduation in any UG course from a recognized institution|
|Admission Process||Entrance Exam||Entrance Exams as well as Direct Admission in some institutions|
|Fees||INR 2-20 LPA||INR 4-24 LPA|
|Subjects covered||Financial Management, Human Resource Management, Customer Relationship Management, Marketing Research, Operations Management, Human Resource Management, Executive leadership skills, etc.||Financial Accounting, Business Economics, Basics of Mathematics and Statistics, Marketing Management, Business Communication, Human Resource Management, etc.|
|Average Salary||INR 7 - 10 LPA (starting salary)||INR 12 - 15 LPA (starting salary)|
|Entrance Exams||XAT, NMAT, SNAP, ATMA, CAT||MAT, CAT, CMAT, XAT, GMAT|
|Accreditations||MBA courses are accredited by the University to which the college providing the course is affiliated to||PGDM courses are accredited by AICTE (All India Council for Technical Education)|
|Job Opportunities||HR Manager, Business Analyst, Marketing Manager, Finance Advisor, Investment Banker, etc.||Project Manager, Data Scientist, Auditor, Tax Specialist, Consultant, etc.|
Which is better? : MBA vs PGDM
After highlighting the primary distinctions between an MBA and a PGDM, one should consider each program's admission standards to determine which is best for them.
In addition to these variations, the college that provides the MBA or PGDM program is crucial; during MBA placements, recruiters frequently consider the college's reputation in addition to a candidate's qualifications.
Develop Management Skills: The MBA syllabus is the same for almost all B-Schools and focuses on enhancing leadership and people management skills, developing, marketing, and selling products and services; establishing connections or partnerships; maintaining the company's financial stability; gathering and creating reports based on industry data; hiring top talent; and increasing employee retention, among other things.
Building Networks: MBA students have the chance to delve into the vast alumni networks that are available at their different universities. The links will assist students in landing their ideal jobs, increase their comprehension of even the slightest changes in the business world, and learn new strategies for quickly adapting.
Accelerate Career Prospects: According to Princeton Review, following instances of economic breakdown, promotions to more senior roles in consumer marketing, finance, and banking increasingly demand an MBA degree.
High Salary: According to a Bloomberg Businessweek survey, individuals who quit their regular positions to pursue an MBA would see an increase in pay of 80%.
Students have the opportunity to become entrepreneurs if they have the necessary market knowledge, ideas, and an MBA. No other program encourages students to launch their businesses.
Any student may enroll in this course: The PGDM Syllabus is intended to help students in any sector develop their professional lives. For their general growth, students who have earned a Bachelor's degree in any field with the requisite percentage can enroll in the PGDM program.
Interdisciplinary Degree: The Postgraduate Diploma in Management (PGDM) is an interdisciplinary course that combines management, accounting, economics, and other disciplines to fulfill industry needs.
Instead of making students proficient in a single area, the PGDM program provides them with a broad range of knowledge.
Future Manager Preparation: There is a growing need for competent managers nationwide. To achieve the industry requirements, organizations frequently spend significant money on training and development. The PGDM program assists students in positioning themselves concerning the markets' and industries' current needs.
Leverage Current Salary or Job Position: The PGDM program aids students in moving up the pyramid's ladder. It gives salary increases, promotions, CV upgrades, and other benefits by keeping up with industry demands.
Which is better for government jobs, an MBA or a PGDM?
Even after earning their MBA or PGDM, some individuals pursue the security of a government position. Top public sector organizations in India like GAIL, ONGC, OIL, etc., or national banks like SBI seek to employ management candidates for senior roles.
In this section, we'll determine if an MBA or a PGDM is preferable for government positions.
One thing has to be made plain. According to several government bodies, both degrees are equivalent in terms of qualification.
The following managerial jobs are open to candidates with an MBA or PGDM: management trainee, HR Manager, Logistics and supply chain manager, etc.
The MBA program enables students to get the necessary experience to pass more challenging examinations like the UPSC, SBI PO, or IBPS PO. Candidates with PGDM degrees are more prepared to manage application-based jobs, including supply chain officials, channel marketers, and relationship officers, to mention a few.
As a result, when it comes to the MBA vs PGDM debate for government positions, we can state that each has a unique set of benefits for specific government jobs.
However, for some government positions, candidates must present a postgraduate degree certificate. The MBA programs will be more beneficial in that situation. However, the program can be considered a degree course and will be on the level with the MBA if the AIU authorizes the PGDM course.
Top Colleges for MBA vs PGDM
The best institutions in India that provide MBA degrees and PGDM courses are listed in the next section, along with their typical course costs.
Best MBA institutions in India
For your convenience, the top MBA schools in India are listed here.
|Indian Institute of Management, Ahmedabad||INR 23 L|
|Indian Institute of Management, Bangalore||INR 23 L|
|Indian Institute of Management, Udaipur||INR 18.50 L|
|Symbiosis Institute of Business Management, Pune||INR 9.60 L|
|Indian Institute of Management, Ranchi||INR 7.80 L|
|Vinod Gupta School of Management, Kharagpur||INR 5.21 L|
|Department of Management Studies, IIT Madras, Chennai||INR 4 L|
|Chandigarh University, Chandigarh||INR 1.80 L|
|Industrial and Management Engineering, IIT Kanpur, Kanpur||INR 1.58 L|
|NIT Trichy, Tiruchirappalli||INR 97,250|
|University of Delhi, Faculty of Management Studies, New Delhi||INR 96,000|
Best PGDM institutions in India
|MICA - The School Of Ideas, Ahmedabad|
INR 21 L
|Indian Institute of Management, Kolkata||INR 24 L|
|Birla Institute of Management Technology, Greater Noida||INR 12 L|
|Lal Bahadur Shastri Institute of Management, New Delhi||INR 11.67 L|
|XLRI - Xavier School of Management, Jamshedpur||INR 20.95 L|
|International Management Institute, New Delhi||INR 8.69 L|
|SP Jain Institute of Management and Research, Mumbai||INR 17.50 L|
|Great Lakes Institute of Management, Chennai||INR 11.91 L|
|Management Development Institute, Gurgaon||INR 9.43 L|
|Narsee Monjee Institute of Management Studies, Mumbai||INR 48,200|
Syllabus for MBA vs PGDM
The syllabus for both the MBA and the PGDM is listed below in the tabular form accordingly.
|Business Statistics||Applied Business Research|
|Financial Reporting and Analysis||Management of Design|
|Human Resource Management||Problem Solving and Consulting Skills|
|Indian Banking and Financial Markets||Integrated Decisions Making|
|Project Management||Leadership Development|
|Business Research Methodology||Excel Spreadsheet Modelling|
|Joy of Management||Bringing Ideas to Market|
|Data Science Using R and Python||Corporate Governance and Social Responsibility|
|Business Communication||Management Information System|
|Managerial Economics||Marketing Management|
|Organizational Behaviour||Research Method|
|Financial Management||Strategic Management|
|Managerial Accounting and Control||Business Environment|
|Quantitative Methods||Financial Accounting|
|Management Science||Production and Operations Management|
|Management of Information System||Strategic Analysis|
MBA vs PGDM: Salary and Career in India
The average wage provided after completing each of the two courses and the employment available in that sector are mentioned in the following sections. This is one of the main factors in determining whether an MBA or PGDM has more excellent value for a candidate:
MBA Careers And Salary
|Job Profile||Job Description||Average Annual Salary|
|HR Manager||In any organization, the Human Resource (HR) department is responsible for hiring new employees and also making sure the employees are satisfied.||INR 7 - 8 L|
|Business Analyst||A business analyst analyses the past and present data to make it a smooth and profitable business in the future. Analysis of data helps in making important decisions related to the company.||INR 6 - 7 L|
|Marketing Manager||An MBA degree in Marketing helps to become a Marketing Manager. The primary role of a Marketing Manager is to take care of the marketing department and market the products or services of the particular company.||INR 5 - 8 L|
|Finance Advisor||A degree in MBA Finance helps to become a Finance Advisor in a finance company. A finance advisor gives advice on investment and capital management for a person or a company by charging some price.||INR 5 - 8 L|
|Investment Banker||Investment Bankers are responsible for arranging very high capital amounts for their client companies. It is one of the highly paid job opportunities among the jobs offered to an MBA graduate.||INR 8 - 10 L|
PGDM Careers And Salary
|Job Profile||Job Description||Average Salary|
|Project Manager||A Project Manager is in charge of a particular project in an IT company. A person with PGDM in Enterprise Management is eligible to become a Project Manager.||INR 12 - 15 L|
|Data Scientist||Data scientists help an organization solve complex problems by combining computer, modeling, statistics, analytics, and math skills alongside solid knowledge in business. A PGDM in Business Analytics specialization helps to become a Data Scientist.||INR 7 - 9 L|
|Auditor||An auditor takes care of an organization's financial records through finance and balance sheets. A degree in PGDM in International Finance helps to become an Auditor.||INR 4 - 6 L|
|Tax Specialist||A Tax Specialist takes care of filing Sales and other taxes of a company.||INR 5 - 7 L|
|Consultant||A Consultant is an expert who gives advice in areas like business, law, human resources, marketing, finance, health care, etc.||INR 9 - 12 L|
Which program—MBA or PGDM—should you choose?
This post discussed the similarities and differences between the MBA and PGDM programs. For these two courses, many data points were presented and contrasted. Additionally, we discussed the prerequisites for admission to the PGDM and MBA programs and the precautions that should be considered while making a decision.
Although the MBA and PGDM programs differ in many ways, the primary determining factor is the institution that offers each program.
The majority of the time, recruiters evaluate a student's degree or credential based on their skill set and the institution's reputation. Although PGDM programs are believed to emphasize developing students' skill sets, MBA programs tend to focus more on management theory.
In this article, we have explored the major differences between PGDM and MBA degrees. PGDM stands for "Professional Graduate Diploma in Management," while MBA stands for "Master of Business Administration." Both degrees provide learners with a thorough understanding of business principles and how to apply them in a practical setting.