MBA stands for Master of Business Administration, while PGDM stands for Post Graduate Diploma in Management. Although the two management courses appear different, PGDM is equivalent to MBA. The main reason that postgraduate courses are referred to as PGDM is that when an Institute is an autonomous body (and hence not associated with any universities) and offers management courses, it is unable to award an MBA degree. Universities are the only places where such degrees can be obtained.
When it comes to industry acceptance and higher education, the MBA and PGDM are identical. PGDM is equivalent to MBA, there is a method to compare! Let’s have a look at this option right now.
Both programs teach managerial skills, but recruiters are more interested in the b-educational school’s quality. It’s unique value propositions, alumni track records, and the value that graduates bring to the table. In truth, recruiters do not distinguish between these students and PGDM students in b-schools that provide a one-year ‘certificate’ program in management. Hiring depends on the recruiter’s work experience, background, skill requirements, and how well the students fit those standards.
All around the world, small and large-scale start-ups and business initiatives are flourishing. Prospective entrepreneurs, managers, and those interested in starting their businesses are always searching for a formal degree that will offer them an advantage in a crowded market.
And having an MBA or a PGDM allows them to stand out and achieve in their various business endeavors. Both degrees are commercially oriented and are ideal complements to one another. However, there are some distinctions between the two that anyone considering pursuing a Master’s level management degree should be aware of.
Let’s compare and contrast the MBA and the PGDM:
Degree vs. Diploma:
A government or private institution, or a college connected with a university, offers an MBA program. Degrees can only be provided by universities governed by the University Grants Commission (UGC).
AICTE certified b-schools and standalone/autonomous b-schools under the Ministry of Human Resource Development (HRD), which are not under the UGC, offer a PGDM curriculum. It is
important to note, the however business world makes no distinction between the two. Graduates of both degrees are equally qualified for management positions.
Curriculum:
MBA programs, on the whole, follow a set curriculum and are more theoretical. The updating of the curriculum to keep up with changes in the industry and economic landscape has a certain rigidity to it. Over 4-5 years, such modifications are done.
The PGDM curriculum, on the other hand, can be amended or modified at the discretion of the business school, keeping it up to date with new industry requirements and standards. These allow schools to maintain a competitive advantage, stimulating curriculum and pedagogy innovation. In contrast to pure theoretical learning, such systems allow more practical application-based learning.
Specialization:
Another significant distinction is that a student with a PGDM will have a dual specialization. That indicates although most MBA programs only offer one concentration, PGDM students can choose from two electives such as Marketing & HR, HR & Finance, Marketing & Business Intelligence, and so on.
Teaching Methodology:
A good PGDM program provides a lot more than just classroom instruction. Case study pedagogy is a must in PGDM courses. Since these cases assist students in how principles work in real-world situations, based on classic and contemporary business cases that have changed the industry over time. Extracurricular activities, social initiatives, events, competitions, and other forms of learning take place outside of the classroom to build several soft skills necessary for management professionals. During intensive industry interface sessions, students in a PGDM degree get the opportunity to contact different thought leaders and influencers, which helps them learn industry perspectives and blur the lines between theory and practical application.
Course Expenditure:
The main thing to note is that the cost of an MBA and a PGDM program varies depending on the institution. MBAs are typically offered by colleges that receive yearly financial aid from the government in the form of grants. Because the government covers a large portion of the education cost, this makes the course more affordable for students. PGDM, on the other hand, is typically offered by independent organizations that are not affiliated with any particular university. They do not receive government subsidies yearly as MBA programs do. This has two ramifications. The cost of education is higher, and it is borne primarily by students on their dime.
Entrance Examinations:
The nicest feature about both the MBA and the PGDM is that students from many disciplines can apply, including Science, Commerce, and Arts/Humanities. However, admittance is contingent on passing particular entrance exams, which are not the same for both degrees.
State-level entrance exams, such as the MAH-CET (Maharashtra Common Entrance Test), are required for MBA admission.
Admission to PGDM programs, on the other hand, is usually contingent on completing national levels entrance exams such as the CAT/MAT/CMAT/MH-CET (for Maharashtra colleges), ATMA, and XAT.
PGDM is equivalent to MBA, according to our experienced Career Counselors, in terms of market acceptance, curriculum, and weightage. It is entirely dependent on individuals as well as institutional accreditation. If you graduate from one of India’s top business schools, concentrate on the curriculum and flexibility, as management is a talent that must be learned from experienced and up-to-date industry experts.
If you are a management aspirant interested in pursuing a PGDM program, you may want to consider Indira School of Business Studies (ISBS), Pune, which is not only listed as one of the top PGDM institutes but also has an AIU accredited flagship PGDM program!
Indira School of Business Studies (ISBS) PGDM benefits from a cutting-edge curriculum established by highly respected academicians and industry experts, keeping up with its unrelenting track record of being innovative and industry-relevant.
To know more about our PGDM course, PGDM admission process and eligibility criteria, please log on to our website: https://indiraisbs.ac.in/Pgdm
Posted in: PGDM (AICTE Approved) Admission 2020
