The debate over PGDM Vs MBA is going on for decades now. Most of the people after gaining experience for one or two years in their respective fields think of pursuing an MBA or PGDM to further polish their credentials and job prospects. While many think that there is a difference between the two, few also perceive that both are same, with just a difference in their names.
Post Graduate Diploma in Management(PGDM) or Masters in Business Administration(MBA) are both management courses at Master’s level. Both the courses have a commercial orientation and it’s difficult to differentiate between the two. However, pursuing both these courses helps one in the growth of their career, in getting a better position and obtaining a bigger salary.
There are five differences listed below between PGDM and MBA.
Understanding PGDM Vs MBA:
1.Degree vs Diploma
When the PGDM course comes to an end, candidates are offered a diploma certificate. Whereas, at the end of an MBA programme, candidates receive a degree.
Many students think that a diploma course does not hold the same value as that of a degree. But this is not true. All the IIMs and other top B schools offer PGDM courses. Most of these institutes are autonomous bodies(not affiliated to any University) and conducts their own management course.
Even IIMs, XLRI’s doesn’t offer MBA degrees they only give PGP Diploma or PGDM since they are autonomous.
In most cases, MBA course curriculum is designed by the university. The core syllabus will be pretty much same in two MBA colleges under the same university. However, PGDM courses are determined by the individual institutions. This gives a certain flexibility to the course curriculum.
An MBA institute follows a fixed curriculum as it is based on the university guidelines.
Similarly, there are many points you can consider while weighing PGDM Vs MBA.
3. Susceptible to Fraudulence
Many smaller colleges and institutes make claims or do not have proper accreditation status. Since PGDM courses are offered by autonomous bodies, students need to be careful while taking admission. MBA degrees are conferred by varsities, and hence there’s a lower chance of fraudulent claims.
Both MBA and PGDM courses have common core subjects. However, while comapring PGDM Vs MBA, some experts claim most MBA courses focus more on theoretical and technical aspects of management rather than adopting a practical approach. PGDM courses have an industrial orientation and focus on skills based on market requirements. PGDM Vs MBA, you have to decide depending upon the focus skills.
5. Cost Factor
Most MBA courses have lower tuition fees as compared to PGDM course. This may be so because mostly government approved universities offer MBA degrees. These universities receive financial aid and grants from the government, making the degree cheaper for the student.
Students have to bear the cost of the entire programme in case of PGDM course. Well, there exist MBA institutes which charge higher tuition fees(such as IIFT).
All these options are just for making you understand the basic idea behind PGDM Vs MBA. You are the sole decider of what’s best for your career.