MBA vs PGDM
This article focuses on revealing the differences between MBA and PGDM which helps you to make an informed decision before you are enrolling in the institution.
Whether you just completed graduation this year or already working in a corporate organization, it is always a good time to do post-graduation. Before deciding on the area of specialization, consider the pros and cons of doing an MBA vs PGDM. You also need to have perfect knowledge of the budget, institution, Duration, Subjects, etc.
If you are interested to do specialization in business studies, you are given many options and the main dilemma arises about selecting MBA or PGDM.
Master of Business Administration (MBA)
A Master of Business Administration (MBA) holds a master’s degree in business administration (management). The MBA degree is originated in the United States in the early 20th century when the country is going through the industrial revolution. At that time, all the industries, factories, corporates, consultancies, and companies sought scientific approaches to management because of the growing need for the human delegation power to successfully run businesses.
There are many different specializations like Mba in Business Analytics, Mba in Pharmaceutical Management, Mba in International Trade, etc., offered by premier institutions across the world. however, the core courses in an MBA program usually cover typical areas of business management such as accounting, finance, marketing, human resources, and operations in a manner most relevant to management analysis and strategy. Most Mba programs also include elective courses or specialized subjects which can be selected by the students according to their interest.
Types of MBA
- Two-year (Full-Time) MBA
- Accelerated MBA
- Part-Time MBA
- Executive MBA (E-MBA)
- Distance learning MBA
- MBA dual degree
Post-Graduate Diploma in Management (PGDM)
PGDM courses are offered by private B-Schools that are not affiliated with any University. PGDM is awarded by autonomous institutes offering management program, these institutes prepare their own syllabus and teaching methods, and they are no way dependent on the universities and enjoy the full autonomy of their courses. A two year PGDM is equivalent to MBA. All autonomous/private universities in India cannot award an MBA and they are allowed to award a PGDM. IIMs also offer PGDM for those joining PGP (Post-Graduate Program)
Usually, autonomous colleges maintain the latest syllabus, as per the market demand, but, In universities, it is not possible to change the syllabus every year. It will usually take 3 or 5 years, sometimes it will take as long as 7 years.
In India, most of the colleges are affiliated to the universities. To stay updated according to the latest trends, all syllabus books and textbooks needed to be changed and faculty need to upgrade themselves.
Based on this reason it will take time to change the syllabus. But in autonomous colleges, the syllabus, teaching methods, practical demonstrations, etc are updated and upgraded according to the current and latest trends. So that students will get the chance to get the latest knowledge.
Types of PGDM
- PGDM Triple specialization
- PGDM Marketing
- PGDM HR
For more information on different business specializations and best institution recommendations, visit Top MBA Colleges in India 2020
Differences Table (MBA vs PGDM)
There exist infinite differences between MBA and PGDM, but because of our knowledge constraints we will have a look at some most important differences that separates MBA and PGDM in the table given below
| MBA | PGDM |
|---|---|
| MASTER OF BUSINESS ADMINISTRATION | POST GRADUATE DIPLOMA IN MANAGEMENT |
| ELIGIBILITY | |
| The minimum eligibility criterion for admission is at least a 3-year bachelor's degree with at least 50 per cent marks | The minimum eligibility criterion for admission is at least a 3-year bachelor's degree with at least 50 per cent marks |
| QUALIFYING ENTRANCE EXAMS | |
| Common entrance exams conducted by respective state and central government education boards in the country or in other countries example: GMAT, AIMA-MAT, ATMA, ICET, PGCET, Etc. | Entrance exams conducted by respective institutions all over the country and also all over the world. example: CAT, IIFT, SNAP, XAT, Etc. |
| COURSE DURATION | |
| 2 or 3 years | 1 or 2 years |
| SPECIALIZATIONS | |
| Marketing, Human Resource Management, Finance, Entrepreneurship, Supply Chain and Logistics, Telecom Management, Pharma Management, etc. | Marketing, HR, Finance, Operations Management, Hospitality Management, International Business, Information Technology, Travel and Tourism Management, etc. |
| EXAM MODEL | |
| Semesters or Trimesters | Semesters or Trimesters |
| CERTIFICATE | |
| Post Graduate Degree | Post Graduate Diploma |
| ISSUING AUTHORITY | |
| Certificate of completion of MBA is issued by University for which the institute is affliated | Certificate of completion of PGDM is issued by the Autonomous Institution |
| AGENDA | |
| Main focus is on theoretical aspects of the management and building competitive advantage to the MBA students when compared with Under Graduates. | Mainly focuses on developing the communication skills , analytical skills, Management skills to cater the increasing needs of the Corporate Institutions. |
Conclusion
In the 21st century, everybody is talking about technology, comfort, luxury, etc but this all happened because of some of the innovative and visionary business people. By this, we can conclude that business knowledge is very important to make a mark in society.
For fulfilling the business knowledge needs of the world, many premier institutions like IIm’s, top B-Schools, offer Business Management courses by assessing the prospective talented candidates. Business courses offered are divided into various types and the most common of them are MBA and PGDM.
Now its time for you to decide which is better for your career MBA or PGDM ?
Recommended Readings
Ever wondered what makes leaders different from managers? Read this well-articulated article about Difference Between Manager and Leader
