To demystify MBA and PGDM world and guide the aspirants towards the goal of sleecting a good college fitting their requirements
PGDM or MBA?
For years together I have heard the same question from aspirants. The batches vary, the cities vary, the forums do vary, but the question remains the same. Other questions like "which college", "WhyAICTE", etc. complicate the situation further. Quickly answered, PGDM and MBA are both good in their own way.
PGDM Pros:
1. It gives the college lot of flexibility as it doesn;t have to be under any university. Hence industry veterans may be engaged as visiting faculty.
2. PGDM gives flexibility in terms of subjects - the course content may be designed by the academic Advisory Council and courses may be aligned w.r.t. industry requirements.
3. As a result, PGDM colleges attract lot of good placements.
PGDM Cons:
1. The quality of the college is difficult to guage. Many colleges try to address that by taking AICTE approval, which is a gold standard when it comes to quality of education.
MBA Pros:
1. A University has lot of credibility and hence a fly-by-night college cannot afford to have the university sttaus. But colleges may get affiliated by universities and hence the credibility loses ground.
2. MBA has more stringent standards than PGDM.
3. If one wants to do a PhD in the future, then MBA helps as it is a degree.
MBA Cons:
1. Industry alignment is less.
2. Placement often takes a hit, as industries often perceive MBA to be less aligned to industrial requirements.
These being said, only MBA or PGDM doesn't make or break - mingle it with college and choice of specilaization - all these three make a difference.
What are the Key Factors for choosing a B School?
The following factors make a B School truly great:
1. Infrastructure
2. Subjects offered in various specializations - how closely related they are to the industry requirements
3. Foreign collaborations - exposure to the students
4. Faculty - Should be the best
5. Groomnig of the students
6. Placement - average package, what % of studetns get placed
7. ROI - Fees and placement together decide this parameter
So, take your own decision - don't be driven by views floating in the market and what a few magazines are telling you. This is your career, your decision.