MBA vs PGDM – Which is better and why?
With the rapid rise of corporate culture and entrepreneurship in India, more students are inclined toward management studies. There are many students who offer MBA course and PGDM course. However, many colleges offer a wide range of courses, all under the same academic bracket. Moreover, students in India often find themselves confused between two courses, namely the MBA course and the PGDM course. This leads to much confusion about which course should opt for.
What is MBA?
MBA or Master of Business Administration is a postgraduate degree in management provided by many MBA colleges and universities in India. MBA is a master’s degree, so only recognized institutions affiliated with a reputed institute are provided a degree in Business Administration.
What is PGDM?
PGDM or Postgraduate diploma in management is a diploma course, not a degree. Many institutes provided PGDM courses as it is not affiliated with any university. These institutes do not offer MBA degrees. All India Council for Technical Education (AICTE) is providing approval to colleges to provide PGDM courses.
Which is Better – MBA or PGDM?
After considering their differences, the students should look at their admission requirements for MBA and PGDM to decide which course is better for them.
MBA
- Business Opportunity
By getting the correct and proper knowledge and ideas and an MBA degree, students can start their own businesses. No other course in India can help students create their own businesses.
- Develop Management Skills
The MBA course is the same for almost all MBA colleges. It focuses on improving leadership and people management skills, selling and advertising product and services, and building connections and partnerships. That keeps the finances healthy, collects and creates reports based on industry, hires top talent, increases employee retention, etc.
- Network Building
MBA students have the chance to dive into the massive sea of alumni networks that presents in their respective colleges. The network will help the students get their dream job in the company, strengthen their understanding of the slightest changes in business, and find new ways to adapt to changes.
- Accelerate Career Prospects
Consumer marketing, banking, and finance are required MBA degrees for promotion to a senior-level position.
PGDM
- Interdisciplinary Course
PGDM is an interdisciplinary course with a mixture of subjects such as management, accountancy, economics, etc., to fulfill the need of business sectors. The PGDM course is designed to provide complete knowledge not only on one subject.
- Students of any stream can select a Course.
The PGDM course is designed to provide shape to students’ careers in any field. The student from any stream can opt for this PGDM course with the required percentage.
- Preparing Future Managers
Demand for quality managers is rising each day. However, the businesses spend a considerable amount on their training and development to meet the industry standards. This PGDM course helps the students to get placed with the required market standards.
- Leverage On Current Salary or Job Position
PGDM course helps the candidates to climb the ladders in the pyramid. It offers salary hikes, CV enhancements, promotions, etc., by updating itself with the trending market requirements.
Conclusion:
Both in India and abroad, MBA and PGDM degrees are considered equivalent in terms of career prospects. Having a PG diploma instead of studying is certainly not a disadvantage. Now that you better understand the differences between the two programs, you can review the details of the MBA and PGDM courses, rate the courses and choose based on your academic and career preferences.