Searching for the best management program after your graduation? Ease up, as your quest for the best management program ends here. Well, though an MBA is the most sought-after post-graduate management program, the PGDM vs MBA debate is heating up. So, what is the difference between MBA and PGDM? Let’s dive into the details and decode what each program is aimed at, and let you decide which is better MBA or PGDM. By the end of this article, you’ll be equipped with all the aspects of MBA and PGDM to decide firmly for yourself MBA vs PGDM which is better.
MBA stands for Master of Business Administration, a 2-year degree program offered by universities approved by the UGC. PGDM, on the other hand, stands for a Post Graduate Diploma in Management, and as the name suggests, it is a diploma program offered by AICTE-approved autonomous institutions. Here, we have our first PGDM vs MBA upshot; one is a degree while the other is a diploma program. Let’s move on to comprehend more of the difference between PGDM and MBA.
Difference Between PGDM and MBA: Key Highlights
PGDM and MBA programs are both designed to equip participants with the right management skills. However, the two management programs differ in various terms. CollegeHai has lined out 8 pointers to help you decide PGDM vs MBA which is best.
Degree vs Diploma
An MBA program is a degree program, the degree for which is awarded by universities that come under the UGC. As for a PGDM program, it is a diploma program offered by business schools recognized by AICTE. You must have crossed paths with the statement that a PGDM program is an MBA equivalent. Well, this statement is backed by the corporate industry, as the corporate world doesn’t differentiate between the two programs. Hence, both programs are equally eligible for the same kind of management jobs.
Affiliation and Accreditation
When we talk about PGDM vs MBA in terms of affiliation, the PGDM program has been granted autonomous status. MBA degrees can be awarded by institutions and colleges that are affiliated with universities. However, in the case of PGDM programs, it is awarded by private universities or autonomous institutions recognized by AICTE.
Curriculum Focus
The curriculum of an MBA program is designed in such a way that it is well-structured and academically focused. Its syllabus and curriculum remain unchanged for years and are determined by the university. On the other hand, the curriculum for the PGDM program is industry-oriented, and it keeps getting updated regularly. Every college or institution offering the PGDM program decides its own PGDM syllabus, and as the industrial year changes, the syllabus is subject to change.
Pedagogy
An MBA is backed by a theoretical foundation with a research focus and tied to universities, whereas a PGDM program is quite practical and industry-oriented. A PGDM program is more flexible and focuses on real-world skills via case studies, internships, and simulations. As for the MBA program, they are designed to follow a formal and standardized university syllabus.
Career Path
The career path for an MBA graduate might include jobs as a Business Analyst, Finance Advisor, HR Manager, Investment Banker, etc. Whereas, after the completion of the PGDM course, the candidate can work in the industry as a Data Scientist, Consultant, Project Manager, Tax specialist, etc. An MBA basically paves a way for business aspirants to pursue government roles, further academic pursuits, etc. On the other hand, a PGDM is best suited for an individual interested in corporate leadership roles, marking the basic difference between PGDM and MBA.
Entrance Exams
To pursue any of the MBA or PGDM programs, business aspirants need to have valid CAT, MAT, or XAT scores. MBA colleges and institutions majorly follow a cut-off system for admissions, whereas, a large chunk of the PGDM institutions, apart from the entrance test scores, depends on factors like past academic performance and achievements. Thus, candidates, on the basis of their scores, can decide which is better MBA or PGDM for them.
Flexibility
In your opinion which one out of MBA and PGDM offer more flexibility? A course that follows a standardised structure or a program that gets updated constantly? You got your answer, it is the PGDM program that offers more flexibility as compared to the MBA program. PGDM programs are backed by an autonomous nature, they are being updated yearly as per the industry requirements and relevance. MBA programs run on formal academic calendars and a rigid academic structure, thus boasting a broader theoretical foundation and strong international ties.
Cost
The cost of an MBA varies from institution to institution, but you can find an MBA program for as low as INR 50,000 at a college. Though there are higher fees for the program at private universities, PGDM programs are still more expensive. The PGDM course fees from a private institution may begin from INR 5 lakh. In addition to this, business aspirants must note that most of the MBA programs are government funded, hence, they are lighter on the students’ pockets. As for the PGDMs, they are offered by self-governing bodies, and hence, the price is quite expensive at the Top PGDM colleges in India.
PGDM vs MBA: Which is Best
You now know the difference between PGDM and MBA, and the choice between the two will solely depend on the learning style you prefer, the career path you want to choose, and your personal goals. Let’s quickly summarise the difference between PGDM and MBA, and you will know why you should choose:
- PGDM Program –
- You are someone who prefers a flexible curriculum and syllabus that gets updated frequently
- You are inclined toward nurturing and sharpening your industry-specific practical skills
- You are aimed at corporate roles that focus on giving hands-on experience
- You want to build a network and connect with industry leaders
- MBA Program –
- You give more value to a recognized degree with international recognition and validity
- You are aimed at building a foundational academic knowledge
- You are interested in enrolling for government roles or pursuing further studies
- You give preference to a more structured framework of curriculum and academics
- You want to build a broad and diverse business network
Summing Up
Well, both the programs, MBA and PGDM, have their specific benefits, and the final decision depends on individual choices and preferences. Business aspirants can finalize their decision by considering all the aspects discussed above. With this article, you are equipped with the major MBA PGDM difference. Pick a program that is rightfully suited to your preferences and career goals, and what you want to do with your management qualification.
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