PGDM Vs MBA which one is better?
For every candidate considering a postgraduate degree in management, the question of which to choose—PGDM Vs MBA—has been a constant concern. Frequently, the challenge stems from candidates’ incomplete awareness of the distinctions or similarities between PGDM and MBA. students often get confused with PGDM vs MBA when pursuing a management course.
Prior to the IIM Act of 2017, IIMs awarded PGDM degrees, and PGDM courses became quite popular. But in India, there is also a negative connotation associated with the word diploma. Therefore, it is crucial to understand the criteria to consider before being accepted into any specific programme, such as an MBA or PGDM.
Both PGDM and MBA programs focus on business. Both courses’ primary goals are to provide students with the most up-to-date knowledge and abilities in company management and administration.
This article presents you with the insight and distinction between PGDM and MBA.
What is PGDM?
A Post Graduate Diploma in Management, or PGDM, is a diploma programme provided by independent or accredited business institutions. The business school retains the right to change or modify the PGDM programme. This keeps it up to date with all the most recent standards and regulations set by the industry.
What is an MBA?
A Master of Business Administration, or MBA, is a degree programme that can be enrolled at a public, private, or university-affiliated college. The curriculum is relatively fixed, with changes to the syllabus occurring over three to five years following careful deliberation. Although an MBA degree offers many benefits, it can be challenging to keep up with current developments due to the demanding curriculum.
Also Read: Cheap MBA Programs in the USA: Top 30 Budget-Friendly and Affordable MBA for Indian Students
PGDM Vs MBA: Difference
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Diploma vs. Degree
When comparing a PGDM to an MBA, one of the main distinctions is that the former is a diploma course given by independent institutes. At the same time, the latter is a degree course offered solely by colleges or institutes connected to universities. When you choose between the two, you should pay more attention to other quality variables, including curriculum and teaching approaches, rather than just the name’s significance.
- Curriculum
To keep up with all the latest standards and requirements from the industry, the PGDM curriculum is revised on a regular basis. A PGDM program’s curriculum is developed with input from seasoned professionals in the sector. These seasoned professionals in the field offer a wealth of insight that promotes the incorporation of cutting-edge technology like Blockchain, AI, and business analytics.
The extensive but rigorous curriculum of an MBA degree makes it challenging to keep up with current developments in business norms and needs. Universities or B-schools create the curriculum for MBA programs, and they have extensive control over the evaluation standards.
- Focus Topics
There are critical subjects shared in PGDM and MBA courses. According to subject experts, most MBA programs emphasise the theoretical and technical components of management. Similarly, PGDM courses emphasise skills based on market demands and have an industry orientation.
- Cost of the Course
If you see, most MBA programs have cheaper tuition than PGP or PGDM programs. This is true primarily because government institutions are the ones that grant MBA degrees. The government provides scholarships and financial help to specific colleges, which lowers the cost of a degree for students. Students pursuing PGDM degrees need to cover the whole cost of the programme because private universities that grant these degrees are not supported by the government.
However, certain institutions, like the IIMs, have high tuition costs. Despite not being a private university, the IIMs charge hefty MBA tuition. This is because it is a private, independent organisation. Nonetheless, there is a part that the MHRD plays in managing the IIMs.
PGDM Vs MBA: Which is Better?
Since we have covered significant factors differentiating PGDM or MBA, it is up to you to decide whether PGDM or MBA is best for you. But when you’re selecting them, have these things in mind:
- Consider if you want a more application-based learning method or just a degree.
- Examine the curriculum and compare the theoretical and practical knowledge.
- An MBA degree gives you preference if you want to pursue a Ph.D. However, both provide an equal benefit if your primary concentration is on growing your career in the industry rather than your future education.
Other factors to consider the difference–
- MBA programs are more theoretical, whereas the PGDM course curriculum is industry-oriented. However, in both, students get practical learning experience.
- Since PGDM courses provide more practical knowledge than MBA degrees, many employers in India and beyond favour PGDM courses. The demanding coursework, lectures from prominent business executives, and management internships prepare students for the business world in advance.
- Since PGDM programs are self-driven, they put in more effort than MBA programs to place students in various firms.
Conclusion
You now understand a few of the primary distinctions between an MBA and a PGDM. It is vital to remember that both are valued equally by businesses, which consider PGDM and MBA graduates similarly. In the long run, your skill set and exposure to new technology will be the most important things. But, to get off to a solid start, you should select your additional education from the most reputable institutions. If you are keen to have higher studies, choose any of the either that can give you the right path to your career. So choose your course wisely and have a positive career.
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