Today business corporation rules the contemporary world. Everything is related to science and technology, media and industry. In this fast growing generation, POST GRADUATE DIPLOMA IN MANAGEMENT ie PGDM gives you the necessary managerial and leadership skills that are required to be successful in managing business operations in public and private sector. PGDM enhances overall personal traits of a student, providing them with good communication and problem-solving skills.
IMPORTANT POINTS TO KEEP IN MIND WHILE PURSUING PGDM
It is really important to give your course a good start and for this, you will have to research and know the best of PGDM programmes and conducting management institutions available in the country. This will give you the opportunity to know more about your course.
To pursue any PGDM course you must be a graduate, you may also need to have a minimum score depending on the requirements of various institutions
You should have a previous job experience as it is essential to get into the best college. Internships, electives and specialization during the time period of the course will ensure that you get recruited by a good company.
It is important that you get your postgraduate management diploma from a well know and reputed management institute, as not all types of diploma programs and institutions are weighed highly by the management industry.
You should choose a course related to your interest, PGDM offers a wide range of courses like full-time, part-time and correspondence programs which are available in many varied B-schools.
A PGDM diploma also gives you the essential knowledge of business administration, supervision, management aspects, structuring, business planning and leading.
BEST MANAGEMENT INSTITUTES FOR PGDM
Every student has a dream of getting into the top college or B-school to pursue PGDM courses. IIMs major institutions that are ranked high for their reputation, infrastructure, resourcefulness, quality of management education, placements and facilities. You can choose a course suitable for your requirement it can be regular, part-time or correspondence. Jobs opportunity will vary from the course you apply to, general programmes lets you enter varied types of jobs while the specialized program may restrict your career choices to your domain.
SMS, Varanasi is best-Ranked B-Schools in North India.
CAREER OPTIONS AFTER PGDM
(You can also go through this article for more information, PGDM: A JOB ORIENTED COURSE)
PGDM courses provide you with a wide range of opportunities. Post PGDM you can serve as a honed, skilled and valuable management professional in a variety of jobs. Here are some of the promising jobs you can find in different sectors.
Private companies recruit management students in various different operational units. If you have a PGDM degree from a renowned institution, then it becomes easier for top companies to recruit you by campus placements. Else, you can also apply for entry-level roles in departments like marketing, human resources, IT, finance, research, etc. You can expect a decent starting pay package up to 25k in the top private companies.
Some of the positions available in private companies after PGDM are:
Sales can be seen as an old-age traditional method of selling and promoting certain goods or services or persuading people to buy it. A sales manager has a wide range of activities that he has to do like appoint distributors, plan sales outlet, study the competitors or decide the target and goals for the sales team. You need to have good communication skills, a strong command of English and any other regional language of your workplace.
Building a brand name and promoting it is one of the vital aspects of marketing. A brand managers main responsibility is to create a positive image of one’s product among its audience. Brand managers have to do activities like promotion, media engagement, advertising, display the brand at target place, etc. Being a brand manager you need to be creative.
PUBLIC RELATIONS MANAGER
The public relations manager needs to manage the information between the organization and public. He or she has to protect and enhance the reputation of the organization through media. He or she needs to analyze the background and culture of the organization and spread a positive message about it to the people. It is a hectic job, it involves a lot of travelling and managing multiple projects at the same time.
PUBLIC AND MANUFACTURING SECTOR:
It provides positions like of business executives and managers in varied specializations exist in the public sector. However, you will have to keep a check on the openings and apply timely as this sector has only limited seats to offer. You can also apply for operations management roles in manufacturing firms or industries. It gives you a strong base and exposure and lots of confidence to grown in your chosen profession.
The best thing about PGDM course is that you can take it either as a full-time profession or as a part-time profession. As a good PGDM course provides you the basic managerial, problem solving and communication skills which are also an essential part of being an entrepreneur.
Another appealing job opportunity after PGDM is business advisory or consulting. It gives you a wide option like, you can be a financial advisor in banking or finance institutions or you can be an IT advisor in a tech firm. You can choose the right position according to your interest, aptitude and core subjects. Business consulting provides you with both full time and freelance options.
The best way to stay in touch with academics is to teach students at management institutes or coaching institutes that prepare students for management entrance exams.
Research institutions and organizations provide several options after PGDM. They recruit management postgraduates as business analysis or analytical experts if they are good in mathematics.
DURATION AND SYLLABUS OF PGDM COURSES
PGDM course duration is for the span of 2 years. Where you learn about developing business and communication skills to make you reach the top of the corporate ladder.
The Post Graduate Diploma in Management PGDM programme is spread over a period of two years and is divided into six terms.
FIRST YEAR OF PGDM
The subjects in the first year of PGDM provide students with a sound understanding of the different disciplines and functions of business management. The core curriculum develops essential skills and knowledge in the areas of Economics, Organization Behavior, Finance and Accounting, Management Control, Marketing, Human Resource Management, Information Systems and Quantitative Methods.
SUMMER INTERNSHIP PROGRAMM (SIP)
Internships always have a very distinct edge over interview based final recruitment as a method of evaluating potential employees. All the deserving candidates often get a Pre-Placement Offer. It is firmly believed by the recruiters that summer interns offer a fresh perspective and have unique ideas for the projects. They are in a position to provide an objective and unbiased point of view about the organization’s work process.
SIP is of eight to nine weeks duration. As a part of SIP, students have to submit a detailed project report and make a formal presentation to a panel consisting of Faculty and external members from industry/ academics.
SECOND YEAR OF PGDM
The PGDM Programme offers a unique feature of a Dual Major, whereby a student can choose courses from two areas of specialization, thus having a broader choice of career opportunity. The second-year courses are a mix of compulsory (core) courses and electives in the specialization areas of the students choice.
There are five compulsory (core) courses. Each compulsory course carries 1 credit. In addition, the student selects elective courses in each of the two chosen specialization areas in each term. Each elective course carries 1 credit.
SYLLABUS FOR PGDM
Syllabus for POST GRADUATE DIPLOMA IN MANAGEMENT as prescribed by various universities and colleges:
|SNO||SUBJECTS OF STUDY|
|1||MARKETING MANAGEMENT I|
|3||FINANCIAL MANAGEMENT I|
|6||INFORMATION SYSTEMS FOR MANAGERS|
|7||ACCOUNTING FOR MANAGERS|
|9||MARKETING MANAGEMENT II|
|12||HUMAN RESOURCE MANAGEMENT|
|13||MACROECONOMICS & BUS.ENV.|
|14||BUSINESS RESEARCH METHOD|
|15||ENTERPRISE-WIDE INFORMATION SYSTEM|
|16||LEGAL ENVIRONMENT OF BUSINESS|
|17||SOFT SKILL I|
|18||BUSINESS STRATEGY I|
|19||MANAGEMENT CONTROL SYSTEMS|
|20||OPTIONAL FREE ELECTIVE I|
|21||SOFT SKILL LAB II|
|22||BUSINESS STRATEGY II|
|23||BUS. ETHICS AND CORP. GOVERNANCE|
BEST PGDM BOOKS
There are so many good books on different subjects. The most accessible and easily understandable are given below:
- ORGANISATIONAL BEHAVIOUR: Dr.Stephen Robbins, L.M Prasad, Sunil Lalla
- ECONOMIC ANALYSIS FOR BUSINESS DECISIONS: Mrs. Kiran Jotwini
- MANAGEMENT FUNDAMENTALS: Mukta Kesar, Samita Kher, DR P N Shinde
- MARKETING MANAGEMENT: Dr.Phillip Kotler
- BUSINESS STATISTICS: Dr.S.P Gupta
- RESEARCH METHODOGOLY: Dr.C.R. Kothari
- HUMAN RESOURCE MANAGEMENT: V.S.P Rao
- TEAM BUILDING AND LEADERSHIP: Prof.Haldar
- NEGOTIATION AND COUNSELLING: Dr.Bedi
- BUSINESS COMMUNICATION: Prof.Rizvi
FEE STRUCTURE FOR PGDM COURSES
The figures provided here may vary from institute to institute as all institutions have different fee structures but this is just to give an idea of how the fee is divided into different levels of the course.
The tuition fees are somewhere around INR 80,000
The room rent is somewhere around INR 4000
The cost of course material is somewhere around INR 18,000
The computer charges are somewhere around INR 12,000
These are respective for each term 1,2,3,4,5,6 in both 1st and 2nd year. Along with these, there is a one time deposit for medical insurance, development fees, student’s welfare fees, alumni activities and caution deposit. So, the total payable amount is a little over INR 9,00,000.00. As noted earlier this is an estimated amount and it may vary from a different institution.
Another plus point is that some colleges also offer scholarships to the bright students or other exemptions to deserving students. For example, Indian Institute of Entrepreneurship (IIE) offers up to 50% scholarship in the course fee. Again, Xavier Institute of Development Action and Studies (XIDAS) offers up to 25% scholarships in the course fee of first 10 deserving students.
MBA VS PGDM
(For more depth information, you can visit PGDM or MBA: Difference between, How to choose, and other MBA vs PGDM Questions answered
The most important question asked by the student confused between PGDM and MBA is, what is better? To answer this we will have to talk about various sections that will give us a satisfactory difference between the two programs.
Post Graduate Diploma in Management (PGDM). The confusion of a student starts when they see the term “diploma”. Many students are of the view that it is a Diploma course and not a Degree; you are right to an extent that it is a Diploma. The main reason why postgraduate courses are named as PGDM is that they are autonomous institutions (meaning it is not affiliated to any University) and conduct management courses then such Institutes cannot offer an MBA degree.
When an Institute secures autonomy they design their own curriculum to be taught instead of following outdated University syllabus. The reason why they chose to do so is that the curriculum can be updated regularly depending on the need in the Industry. Therefore the AICTE (All India Council for Technical Education) is giving the authority to conduct PGDM courses in approved colleges. Hence it can be said that PGDM courses are more relevant in terms of the industry than MBA courses.
Masters of Business Administration (MBA). MBA courses can only be offered by institutions affiliated with the university. The curriculum of MBA is more rigid and exam oriented, it may be updated once in 3-4 years or even more. MBA courses are for people who like to get a comprehensive view of the program, it helps a student in technical knowledge.
ANONYMOUS INSTITUTIONS VS INSTITUTIONS AFFILIATED TO THE UNIVERSITY
Institutions which are anonymous or aren’t affiliated to any university provide PGDM courses, they are not bound to a specific pattern of material they are allowed to make changes when required in the industry.
Only institutions that are affiliated to a university are allowed to provide MBA course. They are to strictly follow the rules and regulations provided by the university.
DIFFERENCE IN FOCUS OF CURRICULUM
While there are huge similarities in the curriculum of both MBA and PGDM, there are finer points of difference. While MBA focuses more on theoretical aspects of management and is more exam-oriented, PGDM has a focus on building soft skills and is industry-oriented. It prepares you for the job market.
MBA courses have a lower fee structure as compared to PGDM as they are university-affiliated and run under the guidance of the university. MBA has a cheaper tuition fee for most of the institutions that offer this course are affiliated to government university making it easily accessible for the students. PGDM courses are run by autonomous institutions are thus are more expensive.
DIPLOMA VS DEGREE
As PGDM provides a diploma at the end of the course and MBA a provides a degree, many students feel that diploma does not hold the same value as that of a diploma but this is wrong as PGDM is seen to be more analytical and up-to-date course.
HOW DOES MBA OR PGDM IMPACT YOUR CAREER?
Both PGDM and MBA courses are very resourceful and effective, moreover, they are similar and hold similar value in the industry. But at the end, it depends on the candidates choice of which course they want to pursue.
In the Indian context, there is NO DIFFERENCE when it comes to how PGDM or MBA courses are treated by the industry. 9 out of 10 B-schools offer PGDM courses and not MBA courses this is proof to the point that there is no difference in the two courses.
Both have the same career growth and in fact, career growth depends on the individual’s performance and not on the course. Salary packages also depend on the institution’s name and the candidate’s personal performance.
In the job sector, even in the global context, there is not much difference. if you are coming from a reputed B-school in India. What really matters is the name of the institution, reputation of the institute, alumni base and how the industry treats your institute.
However, from the perspective of higher education, there is a difference, having an MBA degree help you better than any diploma course. Although the difference is of 1 point or 2, MBA gets marked against masters degree and PGDM gets marked against masters-diploma in the evaluation for your higher education form.