Post Graduate Diploma in Management is the full form of PGDM course, while MBA stands for Master of Business Administration. Even though the two management courses appear to be very different, they are very similar. So, are PGDM and MBA the same? When an Institute offers management courses but is not associated with a university, it cannot offer an MBA degree. This is the primary reason why postgraduate courses are referred to as PGDM. Only colleges and universities can award such credentials. Despite this, the PGDM course can be compared to the MBA in several respects. Wanna find out PGDM vs MBA? What is the difference between PGDM and MBA? Let's take a look at it this way.
Is PGDM similar to an MBA degree?
It’s really worth understanding to is PGDM and MBA same. Choosing a major is a personal decision based on a combination of factors, including academic curiosity, career goals, and a desire to make a difference. In addition to the lifestyle you've always wanted, it's equally important to think about your future. Your life is full of opportunities to learn and grow, and this book is all about you taking advantage of them.
Master of Business Administration (MBA) degrees are well-known for their wide range of skills that may be used in a variety of positions in the workplace. However, a Post Graduate Diploma in Management (PGDM) offers a unique combination of credentials in line with the most recent developments in corporate America.
So, if PGDM vs MBA are the same, how do you choose between them? You may learn more about the similarities and PGDM and MBA differences and then you can make an informed decision about which programme is right for you.
What's the difference between PGDM and MBA?
Even though there is ongoing discussion over the relative merits of the MBA and the Postgraduate Diploma in Management, the hope is to shed some light on the fundamental distinctions between the two programmes, which is an important question for aspiring business school students.
An independent business management institute that is not part of a university offers a Post Graduate Diploma in Management or PGDM. The syllabus of autonomous entities is constantly updated to reflect changes in the business world. From the All-India Council for Technical Education, autonomous business schools are granted accreditation (AICTE). Universities or colleges that are recognised and approved by the University Grants Commission (UGC) and the All India Council for Technical Education (AICTE) provide an MBA degree programme (AICTE).
The cost of a PGDM programme in India can range anywhere from INR 1 lakh to INR 20 lakh, mostly depending on the college, its affiliation, and the likelihood of a successful job search. A two-year full-time MBA programme costs anywhere from INR 20,000 to INR 40 lakh in India.
High-level business schools' PGDM and MBA difference tuition rates are affected by a variety of factors, including infrastructure, on-campus housing, extracurricular activities and teaching methods. Many factors contribute to the high cost of a PGDM or an MBA degree, such as the number of students participating in an international study tour programme. However, if the government funds the MBA college, the tuition will be considerably lower.
Inquiring minds want to know what kind of education an MBA or PGDM course requires. As a result, we'll provide information to aspiring business management students. Let's take a quick look at what an MBA is and why someone might want to get one before going into detail about the courses given at some of India's top business schools like Indira.
If you want to become a company leader, you'll need a master's degree in business administration (MBA). Indian Institute of Management Pune (IIMP) and the Indira School of Business Studies (ISBS) have developed the best MBA and PGDM programmes in the country.
An MBA programme has evolved into a comprehensive professional training curriculum for the next generation of executives. Students' analytical skills and leadership qualities will be honed in the MBA programme, which emphasises problem-solving for managers and executives in the corporate world.
Why pursue PGDM?
Business professionals or those with previous experience in a corporate setting are ideal candidates for the PGDM programme. Analytical skills, thinking and problem-solving approaches across a wide range of business operations are desired by students.
Taking a PGDM course would be the right thing to do in many situations:
- Gain deep professional expertise
- With a better degree and set of skills, you can move up in your career.
- Keep up with changes or new technologies that could affect or improve your job.
Finance majors who wish to learn more about public or corporate finance, for example, can pursue a Master's degree in that particular discipline, which will allow them to expand their financial expertise.
Advantages Of PGDM
- Gain a wide range of skills and have more chances to meet new people.
- Allows you to make a quick and useful contribution to your employer's organisation.
- Find jobs as a business consultant, data analyst, business analyst, project manager, operations manager, operations research analyst, risk manager, management analyst, product manager, etc.
- Chemicals, utilities, fashion, health, grocery stores, and construction are all industries that need functional managers who understand systems, efficiency, and operational issues.
Why pursue MBA?
Aspiring MBAs that are focused on their goals and have a clear plan for the future are the strongest candidates. Leadership potential and academic excellence are the hallmarks of a strong MBA applicant. In addition, creativity, devotion, commitment, and professionalism are valuable assets.
- At least two to three years of work experience GMAT or GRE score
- Bachelor's degree with a high GPA
- Extracurricular activities (helpful)
Advantages Of MBA
- MBA graduates often move quickly into jobs with more responsibility and more power.
- People who have an MBA often get a higher salary.
- Getting an MBA gives you a lot of chances to meet new people.
- Find jobs as a Marketing Manager, Investment Banker, Management Consultant, Financial Advisor, Operations Manager, and so on.
Which one is better?
Both programmes are in management and are symmetrical. Choosing a programme of study is entirely up to the student. There is an emphasis in the PGDM Course in Management Learning through several routes, such as the Marketing/Finance/HR Club and the Project Assignment. Experts claim that PGDM and MBA are the same in terms of how the market accepts them, what they teach, and how much weight they carry. It depends on the people and on how well-known the institutions are. If you get into one of India's top business schools, pay attention to the curriculum and how flexible it is. Management is a skill that needs to be developed, and it's always best to learn from teachers who are experienced and up-to-date in their fields. For more information check out Sunstone website!
Is PGDM better than MBA?
Unlike MBA programmes, which are more theoretical in nature, PGDM programmes are industry focused. PGDMs place a greater emphasis on grooming programmes, mentorship, and industry exposure. PGDM programmes also provide more stringent placement services.
Is PGDM equal to MBA?
The PGDM diploma is equivalent to an MBA from any Indian university. Exams are given by an affiliated university.
Which has more salary, MBA or PGDM?
The average income for an MBA is around INR 21.3 lacs, while that for a PGDM is around INR 12.96 lacs. When comparing typical fees, an MBA college costs around INR 16.5 lacs, while a PGDM course costs around INR 15.38 lacs.