Difference between PGDM and MBA

Confused about what are the options after graduation if you plan to make your career in management? The best options would be PGDM or MBA. Now the difference if you want to know about MBA and PGDM would be, MBA will offer you a degree which is much more of a technical and theoretical aspect of management wherein the PGDM offers you a program which has more of practical exposure in terms of current industry driven curriculum.

Course Offered

The Courses offered through PGDM is through Autonomous college, recognised by AICTE whereas MBA is offered through colleges affiliated to universities.

Course Type

The PGDM course syllabus is updated as per the needs of the industry and MBA is updated less frequently.

Course Fee

The course fee is higher for a PGDM programme as it is provided by autonomous colleges whereas MBA is affordable as provided by central/state universities.

Placements

PGDM offers better placement record than MBA

Teaching Method

The teaching pedagogy of PGDM will be superior, flexible and innovative and MBA will be average, rigid and routine.

PGDM and MBA are both business-orientated courses. The main aim of the course is to equip a person who wants to move up in the hierarchy and enter into the management field.
Both MBA and PGDM courses have common core subjects. However, some experts claim most MBA courses focus more on theoretical and technical aspects of management rather than adopting a practical approach. PGCP or PGDM courses have an industrial orientation and focus on skills based on market requirements.

Major differences between MBA and PGDM

Though both the courses conduct knowledge grounded on the same content, that is, business, both take a different approach towards it and therefore a lot of differences between the two courses can be observed. The scholars have to choose between the two, as per their preferences and according to what suits their requirements. The differences are mentioned below

1. Form of the Course - MBA is a degree course, offered by universities and are UGC combined, whereas PGDM is a parchment course offered by private business institutions. While MBA has a more theoretical approach to the content, PGDM Course (Degree) offers a more practical approach.

2. Curriculum - As the MBA syllabus is substantially determined by the university, it can be taken that the syllabus and the curriculum for the course, in two colleges under the same university, will be the same. The syllabus nearly stays the same for 3- 7 years. In PGDM still, the syllabus and curriculum are decided by the individual institutions and therefore no two colleges have the exact same PGDM syllabus. also, the syllabus is subject to change every year, as per the decision of the council.

3. Chances of Fraud - numerous a time it happens, that colourful independent small institutions declare that they offer PGDM courses, without making proper accommodation for the same. therefore, the scholars have the chance to suffer from fraudulence. On the other hand, MBA courses are substantially offered by famed universities, and therefore the chances of fraudulence are comparatively less. One thing to avoid this is to check for delegation from authorised signatories and bodies governing the educational regulation.

4. Aim - Although the core subjects are nearly the same, the approach is different. PGDM from a good institution teaches the scholars a lot of other effects from outside the book. The syllabus contains case studies, videos from the field, rearmost developments, to explain the generalities more easily to the scholars. Innovative curriculum organised by the scholars help them to vitalise their logical, directorial and leadership traits, which are demanded for the important positions in the field. Whereas, MBA concentrate more on books.

5. Cost of Pursuing (freights and Return on Investment) - MBA courses have comparatively lower freights than PGDM. The universities admit aid from the government, and therefore the scholars have to bear smaller freights. still, the private sodalities offering MBA courses, charge much advanced. While considering the freights criteria, scholars should take into consideration the overall return on investment on both these courses, which means getting a better understanding of which course will snappily cover the freights paid through average payment and the time involved, which would work more in long term.

6. Duration of the Course - Both the courses have a duration of 2 times, but MBA follows a semester pattern, while PGDM follows a trimester pattern.

7. Average payment after the course - It has been observed that scholars with a PGDM degree have an advanced payment than scholars with MBA. The starting payment for MBA graduates is Rs 7- 10 lakhs per time, whereas the average starting payment for PGDM graduates is Rupees 12-15 lakhs per annum.

8. Career openings - After completing an MBA One can work as an HR director, Business Critic, Marketing director, Finance Advisor, Investment Banker and after completing a PGDM course, one can work as a Project Manager, Data Scientist, Auditor, Tax Specialist, Advisor.

9. Admission through Entrance Examinations - Both the programs accept scores on tests like CAT, MAT, ZAT, etc. Universities offering MBAs also accept scores from state- position examinations. PGDM institutions, unlike MBA, don't have any specific cut- off, but the selection depends on factors similar as once academic performance and achievements, piecemeal from the test score.

10. Modernised Curriculum - During the selection of curriculum/ syllabus for PGDM courses, the authority seeks advice from experts to design a course best suited for the corporates, which isn't the case in MBA.

Which should one go for — MBA or PGDM?

According to the current scenario, it'll be more profitable for the students to conclude for PGDM courses, as the course is concentrated on practical assignments and is more practical/industry-applicable, as per the current job request. As the syllabus is customized every time, there's a possibility that the student will learn and gain experience with a wider variety of business generalities than an MBA. Also, PGDM prepares you for facing real- life field challenges through its eschewal- of- the- book tutoring methodology, unlike MBA. Still, if there are enterprises regarding the generally high freights of operation programs, one should choose MBA.

Conclusion

This article can be used as a guide for the students who want to pursue one of the mentioned programs, but are having difficulty in choosing which one will suit them the most. This blog contains the major differences between the two programs, according to what the courses have in the pail for the scholars pursuing them. We've mentioned all points of difference that separate one course from the other. As mentioned, the prospect of pursuing PGDM as per the business trends in 2022 is better. Nevertheless, scholars can more understand the essentials and unborn advantages of both these courses through this article and pick a career more rightfully suited for them.

Composed by,
Dr. S.Anjali Daisy,
Associate Professor,
Firebird Institute of Research in Management.

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