One of the most daunting aspects of being a student is deciding what to do next. This question haunts us when choosing our subjects in high school, then at the college level and then job. One such question for management students is to choose between MBA or PGDM. MBA is a degree course, whereas PGDM is post graduate diploma program. In both courses, the nature of the study is very much similar. Both courses offer management education. When you study in AICTE approved college, PGDM is equivalent to MBA.
CAT is considered the most popular for aspirants who want to study management courses in India. Students seeking admission to MBA or PGDM colleges can avail the information on the internet regarding the CAT exam details like exam pattern, cut-off, exam dates, etc. However, there are other management entrance exams, such as MAT, XAT, NMAT, SNAP etc., similar to CAT.
The significant difference between the Master of Business Administration (MBA) and the Post Graduate Diploma in Management (PGDM) is the MBA is a degree course that can only be offered by colleges affiliated with universities, whereas the PGDM is an autonomous diploma course offered by institutes
While both courses have nearly the same employment outcomes, some subtle differences exist. Before we dive into the difference between these courses, let's shed some light on what these courses are.
MBA (Master of Business Administration) is a management program offered by most management colleges and universities worldwide. Only recognized institutions affiliated with reputable universities in Business Administration may run this program.
PGDM (Post Graduate Diploma in Management) is a diploma program offered by independent institutes. The All India Council has approved colleges offering PGDM courses for Technical Education (AICTE).
Now let's talk about the differences between these MBA & PGDM.
Difference in Fees
Comparatively, MBA programs are less expensive than PGDM programs. Since colleges sometimes partner with MBA programs, and the funding the institution helps reduce the cost of the program for the students
For PGDM courses, all the expenses must be carried by the students as most institutions do not get any subsidy. This makes PGDM an expensive program to pursue.
Difference in Curriculum
The syllabus for MBA and PGDM is similar. However, the syllabus for MBA is not frequently revised because the criteria for MBA programs vary from university to university, and universities cannot make changes without approval. However, PGDM courses are very flexible as they are delivered by independent institutions that can cause significant changes to the program curriculum to make education more effective.
MBA focuses on developing students' business and technical knowledge with an emphasis on developing the theoretical concepts essential in the business world.
Difference in Placement
Unlike top-ranked government MBA colleges and universities like IMs, IIFT, FMS, etc., MBA placement is comparatively less frequent than in private PGDM colleges. In good MBA colleges, the average package goes up to 9-12 lakhs per annum. In intermediate-ranked MBA colleges, the middlebox is around 4 - 5 lakhs per annum.For PGDM, the average package is 5-7 lakhs per annum in an average ranked private college. Top-ranked PGDM college average packages are around 10-12 lakhs per annum.
Hence, In both cases, b-school has a dedicated team for placement called the recruitment cell. Their key focus is to bring corporates for hiring and arrange interviews for the students. Hiring mainly focuses on students ' skills, knowledge, and academic performance.
The difference in the Admission / Entrance exam
Both programs accept scores from several competitive assessments, including the CAT, MAT, GMAT, XAT, and CMAT. Many institutions and colleges accept scores from state-level estimates such as MAHCET, TSICET, PGCET, and TANCET for MBA programs. A few prominent schools also administer their exams, such as the XAT(XLRI), SNAP (Symbiosis) and IIFT EXAM (IIFT).
When it comes to admission exams, there is no such thing as a one-size-fits-all solution. For example, the Indian School of Business (ISB) does not recognize the most generally accepted CAT score in India. PGDM schools may not have a particular entry score cut-off but rather safe score criteria because shortlisting is also influenced by other variables such as previous academic and professional performance, achievements, diversity of background, and so forth.
Difference in Colleges
There are numerous colleges available in India to pursue MBA and PGDM, from the government to private colleges. There are no such differences in quality education, infrastructure, or faculty if we look at top institutes.
Conclusion
MBA and PGDM courses may vary in different aspects, but they nonetheless fulfill the required educational desire of students. Every management student must make an informed decision regarding pursuing either of these courses.
By Maanvir Jaglan
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