The rise of the corporate culture has created numerous management positions. Most of these jobs offer high salaries. And this had made a lot of students choose management programs. However, one is often faced with the PGDM vs MBA dilemma while choosing the right program.
MBA vs PGDM is bound to happen as these are the two most prominent courses for management. However, one can minimize their doubts by understanding the difference between MBA and PGDM. MBA stands for Masters of Business Administration and PGDM stands for Post Graduate Diploma in Management.
The primary difference between the two is that MBA is a degree course while PGDM is a diploma program. There is no difference between PGDM and MBA based on duration. They both are 2-year courses.
MBA is a graduate degree course. It is offered by management institutes and colleges worldwide. Only affiliated management colleges can offer this degree. All such institutes need to follow a single curriculum designed by UGC. The key PGDM Vs MBA point here is that MBA allows one to get into top positions easily. One can make use of this course to become a successful founder or a business leader.
The fee for this course in India ranges between 20-40 Lakhs for 2 years. There are numerous specializations in MBA. The top five highest paying of these are – Finance, marketing, data analytics, business analytics, and IT.
PGDM is a two-year postgraduate diploma. This course is recognized by the All India Council for Technical Education or AICTE. This course is designed to meet the changing needs of various industries. The course is meant to help management aspirants develop relevant hard and soft skills. These skills make them industry ready. The effectiveness of this course had made people debate over PGDM Vs MBA.
The primary goal of this course is to provide grooming sessions, mentorship, and industry exposure to students. And with this one gets eligible for top jobs like sales management, CEO, Operations, and Marketing managers. However, it is more expensive than MBA, which makes one consider the MBA PGDM comparison before taking admissions.
When doing PGDM Vs MBA, one will find a lot of similarities between the two courses. Some of these similarities are as follows –
There is no difference between an MBA and a PGDM in terms of course duration. Both of these are 2-year courses.
The primary goal behind pursuing any diploma or degree course is to get better jobs. Both PGDM MBA course provides excellent placement in managerial roles. And most of these jobs are high-paying ones.
Students seeking admission must have a Bachelor’s degree from an accredited institute. One must have a minimum score of 50%.
To get admission to PGDM and MBA programs one needs to pass entrance exams. Some of these tests are CAT, GMAT, MAT, XAT & CMAT. This means one can’t do PGDM Vs MBA based on entrance tests.
There are various job opportunities after PGDM or MBA course. Most of these jobs are managerial posts and one gets to lead a team. Many individuals choose MBA after engineering to transition into management field, increase their job prospects or boost their salary.
The primary factor of PGDM vs MBA is that PGDM is a diploma program while the MBA is a degree program. Only universities that come under the University Grants Commission (UGC) can provide an MBA degree. Autonomous and AICTE-recognized b-schools can offer a PGDM program.
While both MBA PGDM courses aim to provide training in administration and management, their methods are different. An MBA course is a theoretical one, while the PGDM course concentrates more on technical factors and provides sufficient industry exposure.
Besides understanding what is the difference between MBA and PGDM, one needs to accept that management is a vigorous sector, where several changes happen every day. Hence, the curriculum needs to be revised every year to keep students capable of placements. The MBA syllabus is designed by UGC and does not get updated very frequently.
However, PGDM courses do not have any such concerns. Due to their independent nature, institutes can alter the syllabus based on recent trends in the industry. This proves to be a very important point in PGDM Vs MBA. The PGDM syllabus modifications ensure that students are aware of the current industry trends. Therefore, a PGDM course is more successful in making a student industry ready.
There are no PGDM and MBA difference courses on grounds of course duration. However, there is a big difference between PGDM and MBA in terms of the course structure. The MBA course is divided into semesters while PGDM follows a trimester routine.
A significant point in the MBA Vs PGDM comparison is the fee structure. MBA programs are provided by colleges and universities, most of which receive permission from the government and UGC. Therefore, their costs are comparatively lower than PGDM.
However, a PGDM program is a big investment of capital. The institutes and self-dependent business schools conducting PGDM programs are mostly on-campus and bear all their expenses by themselves. The result of these bearings is noticed in the form of higher program fees.
The two-year fee for MBA is INR 20,000 to INR 40 lakh in India. While a PGMD course costs INR 4-24 lakhs p.a. So, one can see a big difference in fees while doing PGDM Vs MBA analysis.
Related Read: Salary after MBA
Whether students are pursuing PGDM or MBA, one constant question that worries them is what should be the next step? How will they get a reputable job or designation in a good company?
There are multiple career options after MBA in India. When considering post-MBA employment prospects, students should consider making a list of the industry they want to work. They should do a proper analysis of these industries and create a list of pros and cons. One should consider factors such as the job description, skills needed for the job, prospects, and salary.
Seeking a future after MBA in the investment banking department is currently in high demand. If a candidate thinks he is good at making the right investment decisions and knows how to obtain a profitable return on any investment then investment banking can be a promising career option.
The role of an investment banker is to connect investors with organizations and manage funds.
Salary scale – INR 2 – 29.9 lakhs p.a
The rising technological advancements and growing demand for digitalization in the corporate world have led to an increasing need for data analysts. Data analysts are needed in all types of sectors like e-commerce, retail, management, banking, IT, etc.
Many business schools also provide specialization in data analytics, which makes way for even more career options after MBA.
Salary scale – INR 1.8 – 11.7 lakhs p.a
If someone has good problem-solving skills, management consulting can become a great career choice after MBA. The role of management consulting experts is to solve organizational issues.
A management consultant is responsible for embracing new ideas and problem-solving methods. A candidate’s management skills play a vital role in this job and one can apply everything practically that has been studied by them.
Salary scale – INR 8.4 – 35.8 lakhs p.a
HR managers are experts who are liable for the accurate management of the HR department. The duties of an HR executive are to employ and interview new candidates, conduct development and training sessions, promote an open work atmosphere, foster collaboration among all departments of the company, and many others.
The HR manager should be good with time management, negotiations, problem-solving skills, organizational procedures, and many others.
Salary scale – INR 3 -18 lakhs p.a
The IT sector has become a huge industry with a lot of job opportunities, and IT manager is one such opportunity. IT managers are hired to take accountability for the ethics and management of the business.
The decisions of an IT manager are taken depending on the data. Therefore, data analysis is considered an integral element of the IT manager’s job role. Besides this, the IT manager is also responsible for documentation, handling finance, and presentation of the project.
Salary scale – INR 3.2 – 25 lakhs p.a
Some of the top jobs after PGDM are –
After PGDM in finance, one can get this job. Accountants help companies finance their processes, save money, and enhance their profits. They utilize their financial learning and knowledge learned in the university or college to take better decisions regarding the organization’s resources.
Salary scale – INR 0.8 – 6 lakhs p.a
PGDM Finance majors students get the opportunity to evaluate the strengths and drawbacks of industries and analyze trends in multiple industries. Financial analysts profit from the coursework related to finance, accounting, mathematics, and economics which are important aspects of the PGDM major.
Salary scale – INR 2.1 – 10.5 lakhs p.a
Choosing the career option of a business advisor is an excellent way to utilize the learning and skill gained during the PGDM course. Self-dependent business advisors are highly in demand by each organization for looking at how one can enhance operations for better growth and development. Business advisors can be valuable gems for those thinking of doing business for the first time.
Salary scale – INR 1.5 – 18.4 lakhs p.a
Business degrees require a broader strategy that seeks to provide the best skills required to begin a business. With this, the path of entrepreneurs begins who are ready to support themselves and their opinions to stand as a self-reliant business.
The pay scale of an entrepreneur is not fixed as one will be the boss of their company and there is no limit to profit.
One can be a brand manager after completing their PGDM course. These professionals are responsible for managing the quality and services of products. Their job involves monitoring market trends and keeping a close watch on competitive products in the market.
The PGDM course teaches students analytical skills and teamwork that are used in this job. One also needs to acquire good communication and verbal skills to excel in this job.
Salary scale – INR 3.5 – 31.5 lakhs p.a
Subject matter experts are becoming highly popular because many platforms are looking for subject specialists who can guide their students in a better way. Chegg is one such platform that aims to provide quality education to students and is a great portal for people looking to become subject matter experts.
These experts are expected to follow quality parameters specified by Chegg and make sure that their platform guidelines of answering are precisely followed while upholding academic virtue.
With a PGDM or a management degree, one can be an expert in the managerial field. They can share their knowledge with a wider audience and create a peer group. By becoming a Q&A expert at Chegg, one can earn money by answering questions from students worldwide.
After reading the above description, the PGDM vs MBA comparison should be clear to any candidate pursuing any of these courses. While newbies may find it difficult to choose the best suitable course, one thing they should remember is to analyze the key features and the difference between MBA and PGDM. And based on that, pick up the course that can help provide ideal career growth depending on the individual’s interests.
However, if someone wants to be a subject matter expert at Chegg and get a flexible job they should sign up today. With this job, one can gain global academic exposure and meet experts from diverse fields and have a great career trajectory.
Related: Distance MBA v/s Regular MBA
In India, both MBA and PGDM are given equal value when it comes to jobs. So the answer is no, both the course are of equal value. Salary may vary depending on your skills and knowledge. After completing your degree course, you can take up an internship and training to gain some experience.
A student gets more average salary for an MBA than after doing PGDM. The average salary after MBA is INR 21 lakhs p.a. Whereas, after PGDM, one gets an average annual salary of 12.9 lakhs p.a.
Yes, but there is a basic point that stands out in PGDM Vs MBA comparisons. The PGDM course is an industry-oriented one while an MBA is a theoretical degree.
Yes, the PGDM course is more difficult than MBA. The PGDM institutes are self-driven and therefore, they work hard on their students to get them placed at a good job.
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