How to take the headache out of MBA vs PGDM?
There is always confusion between students during the selection of management courses. There is a wide range of business degrees, but aspirants think about many courses and about financial expenses. The two prime courses in management are MBA or PGDM which have some unique features and need to be known by every aspiring manager. Many people think that these two courses are different in many terms, but in actual there are differences. When it comes in differentiating between these two courses, it’s hard to find differences. Both the two courses are related to business and corporate sector.
What is an MBA degree?
In India and many other countries, an MBA degree is considered as prominent when compared to another diploma in management studies. It is the famous gateway to enter into business field. It helps to gain self-confidence for any aspirants before dealing with professionals. Pursuing any degree or diploma in management depends on an individual’s ambition. An MBA is known as a Master in Business Administration. This degree is served by both government and private universities. An MBA has unique specializations which should be understood by the students. There is a myth between students and aspirants that corporate sectors only know an MBA and particular priorities are given to them. But, such sectors don’t think much on MBA or any management course because they just want skilled and talented professionals with good command on management. There is a benefit for the students that more than 2000 courses are available in different IIMs and business schools around the globe. A valid MBA degree is only certified by the University Grants Commission (UGC). Aspirants can gain an MBA degree for a higher academic career during post-graduation. The major hurdle for students while choosing any management course is to know about expenses which are too costly. The cost of an MBA degree is less when compared to an equivalent management course.
- Top MBA colleges which provide an MBA degree
| NMIMS (Narsee MonjeeInstitute of Management Studies) | JBIMS (Jamnalal Bajaj Institute of Management Studies) |
| SIBM (Symbiosis Institute of Business Management) | Faculty of Management Studies, University of Delhi |
| IIFT (Indian Institute of Foreign Trade) | IMNU (Institute of Management, Nirma University) |
- What is a PGDM diploma?
The PGDM stands for Post Graduate Diploma in Management (PGDM). The business colleges and schools are recognized by the government conducting body. This diploma is considered more prominent than other MBA degrees. This diploma can be utilized in corporate sectors and during an academic career. The PGDM curriculum is more related to business and organizational skills. There is no permanent syllabus for this diploma; it all depends on the change in the business fields. The primary drawback for students interested in PGDM is the cost of studies which is costly than management degrees. The selection process, syllabus, exam paper pattern is too strict than other courses. The PDGM is quite less popular but it’s a highly-rewarding management course in terms of recruitment and salary. This diploma is mostly offered by all IIMs and private PGDM business schools in India.
- Top business schools and IIMs providing PGDM diploma
| XLRI (Xavier School of Management) | SP Jain Institute of Management and Research |
| NMIMS Bangalore | IIM Indore |
| IIM Ahmedabad | IIM Kozhikode |
| NMIMS Hyderabad | IIM Calcutta |
- An MBA or PGDM, Which is best for you?
The best colleges are mentioned above for degree and diploma. Let’s find out that MBA or PGDM which has more value.
- The significant difference that students feel degree is more beneficial than a diploma. But a PGDM is like a cousin of MBA degree which is equally beneficial.
- The curriculum of MBA by any institute or college is fixed, but the PGDM syllabus has some difference which is classified by every college.
- Investing money in an MBA degree has fewer chances of fraud when compared to a PGDM diploma. It is known that many new colleges offer PDGM which are not certified by the officials and they cheat students by showing fake accreditations. Students should be careful while choosing any business school.
- MBA has more study on business theory than practical. PGDM studies are mostly occupied by practical learning with less theory knowledge.
- The colleges serving MBA degree are primarily dependent on financial aid which results in less expense for their course. On the other hand, PGDM gets less financial aid and the cost for studies is more than an MBA degree.
Stay informed, Stay ahead and Stay inspired with EduVani