Once done with graduation every graduate student has this confusion about which program should be opted and how to proceed with it. PGDM and MBA have their own importance and scope. Master of business administration is a master degree program which originated in the United States during the early 20th century when companies needed scientific approaches which could lead to proper management. PGDM is post graduate diploma in management offered by various institutes which are recognized by the all India council for technical education and are not affiliated. Both these degrees can be looked forward as a better scope for being successful during the early stage of education.
PGDM is different from MBA and is an autonomous program. It builds the gap that exists between academic and industry. Most of the institutes focus on student-oriented concepts. This gives more importance to course rather than degree and students can undertake any job as soon as they enter the business world. So, students who are looking forward to planning new and exciting ventures and focus upon exploring, this seems to be an ideal program to achieve success. Coming up to MBA we need to understand the fact that the world of business is never going to end, high technology developments being the reason behind the time that has raised the standard of the profession which is expected out of every employee who works for them. It mainly focuses on domains like marketing, operations, Human Resource, Information Technology, accounts, general management etc. It sometimes happens that one does not get enough time to devote to this, then to solve this PGDM program was created. Competition has been increasing at such a rapid rate where everyone tries to be different.
Technical Difference between MBA and PGDM:
It’s not necessary that PGDM is equal to MBA as the courses include in PGDM are more relevant to industry and up to date in comparison to MBA courses.
- The difference in fee structure can be pointed out as PGDM has a high fee in comparison to MBA as they are similar to university standards. Hence MBA is more affordable.
- Students that are pursuing a PGDM course would be acquiring knowledge related to business soft skills and are more industry oriented. PGDM also provides the advantage of changing the curriculum in accordance with industry standards and the changes which keep occurring in the business environment. Whereas the MBA institutes follow a fixed curriculum which is based on university guidelines.
- Both these courses are almost same but there still exists some difference like MBA focuses on hard skills and is also more subject oriented whereas PGDM is industry oriented and focuses on the soft skills. Being offered by the autonomous institute, PGDM degree is much more flexible than MBA as there is no point of following any universities standard. It prepares one for the job market and provides them industry exposure. Whereas MBA is completely different to this, as it has university standards and any change in curriculum is a really slow process. Also, MBA focuses on the theory part whereas PGDM focuses on the practical front.
Eligibility criteria for undergoing MBA/PGDM course:
The Eligibility Criteria for Admission in PGDM is that one should have pursued at least a 3-year Bachelor’s degree or possesses a qualification recognized by Ministry of HRD, Government of India. Final year students of bachelor’s degree course are also eligible to apply for this course. All they need to submit is their mark sheets till final semester before the 30th of November of the year of joining.
A minimum of 50% of marks in aggregate of all subjects from any university recognized by AICTE/UGC.
Candidates having business experience are given weight in the selection procedure.
Students who are willing to participate in this program must undergo one of these entrance examinations like
- a) National level- which includes CAT/MAT/CMAT/XAT/ATMA
- b) State level which includes TANCET/MAH-CET/MET-MP
The eligibility criteria for MBA demand for 16 years of undergraduate education and a professional four-year degree such as engineering or any other such courses. Also, GMAT is also one of the important criteria for admission required for almost every university of US.TOEFL is also required by the almost every University of US and is a fairly simple exam for students who have studied in English Medium throughout. It is usually paper based as well as a computer-based exam.
Why you should choose MBA/PGDM as your career option
Choosing MBA/PGDM as a career option cab be an advantage as they have the advantage of time bound completion as they are completed on time. PGDM gives more importance to performance rather than a degree and provides a number of opportunities and programs which are beneficial. It also provides an opportunity to develop the quality of entrepreneurial and other business skills and also provides training programs and interactions with the industries. In this age of industrialization, MBA in finance is a way to establish industry according to the money management and proper collection.MBA provides Dynamic leadership in every organization. It also focuses on strong analytical attributes and knowledge of global culture and effective time management.
Career options post MBA/PGDM completion
MBA being the most popular post-graduation course which at the end offers one a number of exciting job opportunities in India as well as abroad. An MBA or PGDM degree holder has the option to join the business organization as a trainee manager and can eventually reach the position of senior manager. These graduates can also opt for high profile jobs in different government departments which are widely spread. Graduates who had marketing as their MBA specialization can work as financial and credit manager and much more such posts. There are a number of opportunities covering the area of human resource management.
Whatever might be your career objective, MBA/PGDM helps you achieve it. Providing updated and the latest curriculum and teaching methods it prepares the students to meet the expectations of the latest employers. It helps them grab a proper and promising career after completion of MBA program. There are abundant opportunities for MBA/PGDM graduates at consultancies and other sectors as well. This degree has their importance and stands out different at minor points. These are terminal as well as professional degrees. These are part-time as well as full-time courses and also have an accelerated MBA program having less down time and also have a lower cost. Both MBA and PGDM are appropriate for the kind of person willing to pursue them.