PGDM or MBA: Difference between, How to choose, and other MBA vs PGDM Questions answered
When you are in a management field and waiting for that particular turning point of your life where you could hit the boom, i.e. steps towards success but before leading towards those steps the biggest question, actually the biggest confusion arrives: MBA or PGDM. Everyone wants to opt for the best so here I am, to extinguish all your problems, all your doubts. Now let me clear the basic difference between MBA and PGDM. MBA stands for Masters of Business Administration which is offered by both universities and colleges (government and private). Whereas on the other side PGDM stands for Post Graduate Diploma in Management, the name itself says a lot and i.e. that it’s a diploma program. PGDM is offered by business schools and Govt. colleges that are highly recognized by the branch of technical education- i.e. AICTE All India Council for Technical Education. The amazing thing is that even IIM and ISB Hyderabad offers PGDM and not MBA because of the simple reason, i.e. they are not a university or a college affiliated to a university. Though MBA is expected in the upcoming years in IIMs, as per the IIM Bill 2017. Let me focus on one of the major points, and that is personal goals, now you would be thinking that how do personal goals fit into the difference of MBA and PGDM, which it actually does. Though personal goals, one knows what he or she wants to have in future, like what kind of a career to be in, or what kind of a job he or she is daydreaming of. Like for example, if you are interested in a corporate job then you should opt for colleges that provide MBA depending on the ranking, placements instead of the courses they provide. Because better the college or university, better and closer towards the success, but ya it all depends on your caliber, sometimes college or university doesn’t matter if you have the zeal to crack something big in your life. Coming forward, do you know that the top business schools are having PGDM and have received equivalence from Govt. body AIU. One more thing, a time comes, when you have the caliber to work hard, work smart, study great but don’t have enough to pay the fee for education, so for that you can easily pursue MBA from a Govt. college because that will work perfectly well and won’t charge you much. Framework MBA from govt. universities MBA from private universities IIMs Private PGDM colleges Program offered MBA MBA Post Graduate Programme in Management (PGP) PGDM Award Degree Degree Diploma Diploma Top institutes/ colleges FMS- Delhi University,IIFT Delhi- Deemed University, JBIMS – Mumbai University, PUMBA- Pune University NMIMS Mumbai fee is Rs. 17.44 lakhs, SIBM Pune fee is Rs. 18.25 lakhs It’s mostly like 2 lakhs – above. IIM Ahmedabad, IIM Bangalore, etc. School of Management Sciences, Varanasi XLRI, SPJIMR, MDI, IMI, etc. Recognized or approved by University Grants Commission (UGC) University Grants Commission (UGC), Recognized by Ministry of HRD All India Council for Technical Education (AICTE) Fee At FMS Delhi the total fee of the whole MBA course is Rs. 25,000/- SMS Varanasi fee is around 4 Lakhs, SIBM Pune fee is Rs. 18.25 lakhs It’s mostly like 2 lakhs – above. IIMs have a higher fee structure. IIM Ahmedabad fee is Rs.21 lakhs, IIM Bangalore fee is Rs.19.5 lakhs. Top PGDM B-schools charge between Rs 4 lakhs to Rs20 lakhs. Duration Two Years Two Years Two Years Two Years Admission process Some National level entrance test Own exams like NMAT, SNAP, X-GMT CAT CAT, XAT, CMAT, MAT, GMAT, ATMA Now the query arrives is that MBA or PGDM, which one is best suitable for you? Goals: Decide your goals first. Decide carefully as to whatever you will opt will go with you and get you into the Business World. If you want to join the Corporate World then duh, MBA or PGDM doesn’t matters, all that matters is that you are studying at a nice business school because you will get to learn something actually you will get to learn a lot from a business school so choose the right business school for yourself, and as I have told above that if you have a low budget then you can definitely go with MBA course from a government college. Budget: These days home loans, this loans, that loans have come, the Banking World is getting so much involved that education loan is also there. But still, for example, MBA fee at FMS Delhi is Rs.25,000 and the same at IIM Ahmedabad is Rs. 21 Lakhs. No doubt study loan is there for you, but you gotta check the budget too. Moreover, it’s difficult to crack CAT but lucky also if you nail it. Not only this, there are more wide options like there are plenty of colleges who provide MBA/PGDM programme at the fee of Rs. 2 Lakhs – Rs.10 Lakhs. competitive exams: I know it’s difficult to crack a competitive exam but those who crack it are for God’s sake Humans too! They ain’t aliens guys so at least you can tryna give it a shot. There are various competitive exams like CAT, XAT, CMAT, MAT, GMAT, and ATMA which are mostly held in the month of December or January or February every year, so way to go matey. Right decision: It’s about your life, like your whole life depends on this one little thing. So choose wisely as your career holds onto it. Just choose the one in which you can best fit in and give your 100% calibre to it. Now let me tell you the top reasons to choose Post Graduate Diploma for Management Programme: Commercial structure: One should opt for PGDM courses it is more into the commercial background, i.e. it is more industry oriented than MBA is. It has a practical approach whereas MBA is mostly like a bookish knowledge. Excellence in every business field: PGDM is a course which lets you opt the subjects that gains your most of the interest in. For example, you can choose minor subjects like Finance/ Marketing, etc. Higher Studies and Placements: If you have done PGDM from a reputed institute it lets you study more as to this course is more of a practical. Not only this but institutes with PGDM courses have a tendency to draw attention to the attractive placement offers. Business World Experience: In PGDM course, students get in touch with the interactive session of famous business leaders, get to have a part in business internships so that they could be comfortable enough to work in the Business World. Not only this but to motivate students, various workshops are held where top industry managers deliver speeches to show the bright future to the kids if they follow up the correct decisions. Skills: Those institutes who are offering courses like PGDM, have high qualified teachers with them. Sometimes getting a degree doesn’t gets you a job, what all gets you a job is your own caliber and passion regarding something, PGDM course teaches the skills so that the students could best excel in the Business World. Job-oriented: PGDM course is more job oriented than MBA as it focuses more on the practical part and teaches its students for how to work in an organization and excel in your work so they start preparing their students from the beginning regarding job. Top reasons to choose MBA Though PGDM and MBA are similar but there are still few aspects where they both differ MBA degree: When you are doing PGDM at the end you need an AIU equivalence certificate but on the other hand when you are doing MBA you are not in need of that as to in the end you have a degree in the hand instead of a postgraduate diploma. Globalacceptability: Top business schools in the World provide MBA courses but not every institute provides PGDM because MBA degree has a wide scope, it is accepted by all the recruiters and provides a lot of global employment opportunities. Abroadstudies: MBA makes it easy and acceptable if you are thinking of going to abroad for higher studies as foreign institutes need to see your degree instead of your diploma if you want to study forward. Universities: MBA degrees are awarded by universities or colleges affiliated to universities, which accept all the credential normswhereas on the other side private PGDM colleges sometimes do not follow AICTE norms. Issue like thesehappen at the time of fee refund as candidates find it difficult to get their paid PGDM fee back. Since the MBA colleges are affiliated to a University and Universities are controlled by University Grants Commission (UGC), the colleges have to abide by the university norms. In addition to UGC approval, these university affiliated colleges can also get AICTE approval for their different courses. Fee: No matter study loan is there but when it comes to money everybody just shuts up. But not anymore as MBA courses are economical, they help the students to pursue their dreams. Not only this, FMS – University of Delhi offers MBA at Rs.25,000/-; JBIMS-University of Mumbai offers MBA at Rs.6 lakhs (Recently revised upwards); PUMBA-Pune University offers MBA at Rs.1.50 lakhs; Bangalore University MBA fee is Rs.54000/-. Moreover as I have mentioned above that MBA degree is awarded to the universities and many govt. colleges which are affiliated to universities so it becomes easily affordable for the student who has a burden of financial problems. Legacy: you must have heard the common quotation, “Old is Gold”. Exactly, MBA is a much older course and has become a legacy, it’s not a legacy because it’s old it’s a legacy because its gold. One more common question How to choose a Business School: It’s simple, Go through its Placement record Check out its Ranking among the other business schools, i.e. the competition with the other business schools Legacy & Reputation of the Businessschool Fee structure is the basic thing as to if you can’t afford it then why are you even thinkingabout it so go with the business school where you could fulfil your dreams but also pay your fees wisely. Student-faculty ratio Quality of peers/students joining the MBA/PGDM Program Location of the business school, though this shouldn’t matter but if you are a home sick child or if there are some family problems and that you have to stick with your family all the tie then checking the location of the business school is a must.