Management is the efficiency to scale the ladder of success. It is a methodology where art, science and crafts meet. With the rise of allied education as well as reassurance to entrepreneurship in India, there are many students who hunt for management courses. Management is one of the most sought after field as per the demand of organisations. Today, there is no dearth of universities and institutes in India which offer postgraduate programs in management.
However, students often find themselves faced with the choice of two such courses, namely MBA and PGDM. There are a number of aspirants who are often doubtful about the difference in titles as well as content. This leads to much confusion concerning which course one should opt for, and why?
MBA short for Masters of Business Administration is 2-year post-graduate degree in Management offered by colleges affiliated to universities. So, only universities can provide MBA programmes. They are considered to be among the most prestigious ones in the world. Applicants of MBA programme study the theory and application of business and management principles. MBA programs prepare students with knowledge that can be applied to a variety of real-world business situations.
MBA degree adds an extra competing edge to any professional resume - whether you come directly from an undergraduate degree or are a moving professional.MBA programs are beneficial for specialists who seek employment in the public, non-profit and private sectors, or even business ownership.
PGDM for Post Graduate Diploma in Management is a diploma programme offered by the institutes that are recognized by the All India Council for Technical Education. PGDM is an autonomous body which is not affiliated to any university. The course studies the intricacies of management and sharpens the mind of an individual to tackle out daily obstacles. Various entrance exams that are conducted for admission in the course are MAT, CAT, XAT, ATMA etc. post
Top Specialization in MBA/PGDM
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To go for Post graduation diploma in management (PGDM) course, applicants must possess a Bachelor's degree, with a minimum of 50% aggregate marks in graduation as well as entrance examination.
The bachelor’s degree gained by the candidate must involve a minimum of three years education after completing higher secondary schooling.
MBA- AICTE, Ministry of HRD, Govt. of India, UGC Approval is needed at the university level for MBA
PGDM- AICTE, Ministry of HRD, Govt. of India
Both the courses aim to train in management and administration, their approach ranges significantly. While an MBA course gravitates to be more theoretical, PGDM focuses on the technical aspects, providing exposure to real-life business situations. Another advantage of a PGDM is, as it is offered by autonomous institutes, the curriculum can be upgraded more frequently to include the new changes and trends in business management.
However, if you wish to pursue higher education abroad, a PGDM is considered to be a diploma, while a university-affiliated MBA is counted as a degree, giving you a better standing.
MBA course curriculum is designed by the university. The syllabus will be pretty much same in two MBA colleges under the same university. However, PGDM courses are defined by individual institutions. Every year syllabus undergoes a change according to the requirements of the industry. For people who are interested in the corporate world or want to be an entrepreneur, PGDM would be more suitable for those candidates.
In terms of job context, there is absolutely no difference between MBA and PGDM, if one comes from a reputed business school. Placements depend on the name of the college, the ranking of the college, and reputation of the institution in the market/industry.
There are top management colleges which offer PGDM course but not MBA. The performance and judgments are not based on a person’s credentials but are based on performance.
Admission process of MBA in India in all the top institutions is a four-step process. These 4 steps of the admission process are applicable to all the MBA colleges.
Admission process in top MBA institutes commence in the first week of August/September and will conclude in the last week November. Desiring applicants must register and apply for the relevant MBA entrance exam like CAT/XAT/NMAT/SNAP/ IIFT/within the specified registration date.
The candidate who wishes to pursue management courses from to top MBA colleges must appear in CAT, XAT, NMAT or other relevant entrance exams.
After the declaration of results in January, most of the top B-schools will shortlist the suitable candidates for final admission round on the basis of exam scores, work experience among other parameters.
All the shortlisted candidates will have to appear in the Group Discussion (GD), Written Ability Test (WAT) followed by Personal Interview (PI). On the basis of their performance in the last selection round, the final merit list will be created and admission offers will be made by the particular B-school.
There are several parameters involved in order to get admission in top PGDM colleges:
1: The candidate needs a Valid Score Card from - CAT/ MAT/ XAT/ CMAT/ ATMA exams.
2: The candidate must possess good writing and reading communications skills, which is an integral part of the admission procedure.
3: Some Institutes conduct an Internal Admission Test (Aptitude Test along with English Assessment)
4: Final selection is done after GD(group discussion ) and PI (personal interview).
It is not compulsory that PGDM is equal to MBA because then the college offering the PGDM course must have permission from AIU (The Association of Indian Universities).
Although both MBA and PGDM are similar in outcomes in terms of employment perspective, there are still some differences as shared below:
1.MBA a Degree programme:- After the completion of an MBA programme, students are awarded MBA degree instead of a Post Graduate Diploma.
2.MBA is accepted globally for employment:- MBA degree is well recognized for global employment opportunities and is acceptable by all the recruiters. Top business schools in the world offer MBA degree and not PGDM diploma.
3.MBA degree - requirement for higher studies abroad:- Applicants can pursue higher studies like a doctoral programme abroad, as MBA degree makes an impact and is acceptable. Foreign universities ask for MBA degree instead of diploma to offer admission in Ph.D./Doctoral programme.
4.MBA backed by University: MBA degrees are granted by the Universities. There is unity in education, learning among all the University affiliated colleges. Besides, students do not have to exercise so much caution while opting for MBA course offered by the University or University colleges as they carry all the university related credentials.
The candidates find difficulty in receiving their paid PGDM fees back. Since the MBA colleges are affiliated to a University and Universities are controlled by the University Grants Commission (UGC), the colleges have to abide by the university norms.
However, when we talk from the prospects of higher education, there is a difference between both the courses because MBA degree helps you a bit more as compared to PGDM diploma. MBA gets you marked against Master’s degree while PGDM gets you marked against masters-diploma. It does not matter which course you opt, important is which college you choose to pursue the course.