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PGDM or Post Graduate Diploma in Management is an excellent option for students pursuing a career in commerce and business administration. It is a 2-year course accredited by the AICTE or All India Council of Technical Education. The degree is considered equivalent to an MBA when offered by a university accredited by AIU. The curriculum is also similar to the MBA curriculum since both of the courses deal with business, management and commercial studies at the postgraduate level.
The PGDM curriculum is extremely industry oriented and offers insights into the trends of the market. There are several career opportunities in sectors like finance, human resources management, marketing, and sales. The PGDM eligibility criteria for students to apply for the course requires them to have completed their graduation from any university. The common entrance exams conducted by the leading institutes for admission into PGDM courses include CAT, MAT, and XAT. But if you were wondering about the PGDM value in India or the value of pgdm course overall, read on.
PGDM scope in India
A PGDM from an AIU accredited B-school is equivalent to an MBA, which provides ample opportunities for employment similar to an MBA degree. The post-graduate diploma in management builds a business management acumen in the student, imparting industry knowledge and leadership skills. This allows them to be prepared for the corporate world to undertake several managerial positions. While a PGDM completely empowers a student to pursue entrepreneurship, it also makes them ready for professional roles as researchers, executives, managers, and educators.
The sector-wise scope for a PGDM degree is discussed in the paragraphs below:
There are several employment prospects for candidates with PGDM in the private sector. These jobs require managerial and operational skills, which are taught in the PGDM course. The best private organizations and corporations conduct recruitment drives in the best universities to recruit the brightest PGDM students. There are multiple roles to fulfil in the IT, Marketing, Finance, Operations, and Human Resources Management sectors.
There is a myriad of government jobs in PSUs offered to management students with a PGDM degree. These roles require management skills like finance, accounting, human resource management and more. Along with offering job security, public sector PGDM jobs allow you to apply your business administration skills at a governmental level which provides a brilliant opportunity for growth, learning, networking and exposure.
Students with a PGDM degree have essential research and analytical skills such as business analysis, market research, organisational behaviour, labour law, and quantitative analysis. This makes them prepared for employment opportunities in research organizations as well. Some of the most sought-after roles include business analysts and risk analysts.
The PGDM course details first-hand experience in the various domains of business and management. This makes them fit for a career in business consultancy in several financial and technology-driven conglomerates. The various specialisations of PGDM that enable the candidate to understand the various aspects of business consultancy include finance, marketing, business communication, sales, operations, and human resource management, to name a few.
PGDM is one of the best educational choices before starting your own business. It empowers you to be successful in your entrepreneurial endeavour as it teaches you essential business operations along with leadership, corporate communication, problem-solving skills, labour law, and organisational behaviour, among others that help learn the necessary to be a successful entrepreneur.
The Benefits of Doing a PGDM course
The value of the PGDM course depends on the institute the aspirant is pursuing it from, the faculty available, specialisations, communication skills, personality development traits, domain expertise and relevant industrial acumen. However, a few of the major benefits have been discussed in the following paragraphs:
PGDM is a professional course which has an interdisciplinary approach to understanding businesses. It imparts knowledge of multiple subjects like labour law, financManagerunting, marketing, and management. This provides the PGDM students with the perfect skill set to thrive in the competitive employment market.
The PGDM course prepares students to compete with other talents in this fierce job market. They are imbued with leadership qualities that are necessary to become successful executives and managers when pursuing a PGDM degree. The candidates also acquire the confidence and the critical thinking skills needed to thrive in today's job economy.
Overall Personality Development
PGDM provides the opportunity for a diverse horde of industry-relevant skill acquisition and training, which brings about a holistic development in the personality of the aspirant. Students can get accustomed to the industry norms and the currently prevalent corporate working environment by enrolling in the PGDM courses.
A professional management degree like PGDM bestows the students with ample employment opportunities in almost all domains of the industry. The top recruiters conduct recruitment drives in the best institutes to hire the brightest candidates for a plethora of professional roles.
Pursuing a PGDM degree from any reputed B-school ensures that you build a network of peers who are likely to remain attached to the various domains of business. Among the faculty and peers, there will be several connections that will last and prove to be incredibly beneficial in the long run. Besides, top-tier B-schools have a large percentage of faculty members directly pegged to the leading businesses in the industry. This also helps accelerate the aspirant’s career through individual mentorship and guidance.
Highest paying jobs after PGDM
The salary packages received by candidates after completion of their PGDM depend on several factors such as specialisations, employment field, location, firm type, work experience, and career profile. The table below lists down and discusses a few of the highest-paying jobs available after their PGDM programme:
Business Development Manager
This is a professional role that requires the competence of a PGDM student. The average salary of a business development manager is around INR 15 LPA.
This is one of the most sought-after career choices by students after completing PGDM. Depending upon the firm an investment banker can earn between INR 10-50 LPA.
The PGDM course provides first-hand knowledge of business management which makes business consultancy a very good career for the students. A successful management consultant can earn around INR 20-30 LPA.
Project managers have a very demanding and versatile role in business processes. Depending upon the industry and the corporation, project managers can earn about INR 20 LPA.
The business acumen among PGDM students makes business analytics a very good career option for them. Business analysts receive a starting salary of around INR 5-10 LPA.
Marketing departments are some of the most highly rewarding areas which hire PGDM students. The average compensation for a marketing manager is around INR 12 LPA.
There are several other specialised roles that may pay higher as well. To know more about such roles and get your answer to other queries related to the value of a PGDM degree, get in touch with Sunstone today!
Sunstone is a leading higher education services provider that works with academic institutions in upskilling students for employability. Sunstone offers career-oriented training interventions for undergraduate and postgraduate students at 40+ institutions across 30+ cities.
Sunstone’s training programs are industry-endorsed to enhance employability. These programs are designed for hybrid delivery with an unparalleled focus on soft skills and personality development. Sunstone’s focus is to provide students with a holistic educational experience.
Frequently Asked Questions
Does PGDM have value?
A PGDM degree has incredible professional value in India. It is considered equivalent to an MBA when the degree is offered by an AIU accredited university. There are plenty of job opportunities for PGDM graduates, similar to MBA graduates.
What is the full form of PGDM?
PGDM stands for Post-Graduate Diploma in Management. It has the same credentials as a course when compared to an MBA degree.
Which PGDM has the highest salary?
According to data, PGDM courses with specialisations in Marketing, Finance, and HR have the highest paid job opportunities. However, this depends on other factors such as the candidate's communication skills, domain expertise, work experience, performance, et al.