What is the difference between MBA and PGDM and which is a Better Program remains a big debate? Students aspiring to get into Business School for MBA or PGDM Program are searching for the best pathway to achieve their goals. As the entrance season advances, the dilemma for the aspirants continues – MBA vs PGDM and which Business School to opt for?
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The confusion reaches the peak when the students start visiting the colleges for counselling and GD/PI sessions. All business schools claim about their excellent Placements Record, Faculty from the IIM’s and IIT’s, International Exposure etc leaving the management aspirant in a total state of confusion.
What adds to the confusion level are the Education Consultants who further confuse the students for their petty monetary gains. At some point in time, students get so frustrated that they stop taking all the calls. EurAsian Times crisply attempts to explain the difference between MBA and PGDM.
MBA vs PGDM: Whats the Difference?
Master’s in Business Administration (MBA) is a degree course provided by the University or colleges recognized by the Universities which are approved by University Grants Commission (UGC), and sometimes also by All India Council for Technical Education (AICTE).
Post Graduate Diploma in Management (PGDM) is also a Masters degree program, offered by the autonomous institute or colleges, that have received their approvals from the All India Council for Technical Education (AICTE).
Some of the top business schools like IIM’s and ISB’s offer PGDM / PGPM program (and strangely they are not approved by AICTE) as they do not have collaboration with any of the University. But these B-Schools have an outstanding placement record and international reputation that AICTE approvals does not matter. Neither do organizations bother about their approvals.
Colleges offering the MBA program follow the academic syllabus provided by Universities (which usually cannot be easily modified or changed) while PGDM syllabus is flexible and institutes like IMT, MDI, XLRI, IIFT, SP Jain, NMIMS have the flexibility to modify their course within the AICTE approved parameters giving them a tremendous advantage.
MBA or PGDM: Which Program is Better?
MBA vs PGDM is an unending debate and honestly, a lot depends on which University or College a student is getting (based on entrance exam score like CAT / XAT / MAT etc) rather than the program itself i.e. MBA or PGDM. The PGDM program claims to follow a more practical approach to the studies, compared to MBA (which may not always be true).
MBA from top institutions like FMS, IIT, DTU are equally acceptable and sought after in the market. The major difference between MBA and PGDM is that MBA course fee is usually less than the PGDM program, as PGDM comes with a variety of industrial trips, international exposure programs, besides being a revenue generation model for the institutions. (A PGDM Program at the IIM’s could cost up to 28 Lacs, whereas MBA from FMS-Delhi University would only cost about 2 Lacs).
Corporates recognize talent from both the programs and are more interested in better brands and students, and don’t really care about MBA or PGDM. Students have an apprehension that after PGDM, they would not be able to pursue higher studies like PhD but if a PGDM is AIU approved, students will be eligible for PhD programs as well.
Additionally, even if your PGDM program is not approved by the AIU, you can still do PhD or Doctorate from any of the Business School like IIM’s, MDI or other leading institutions. However, be assured that having a PGDM Degree instead of MBA degree will not make any difference to your corporate career, as at the end, it is the student who matters!.
The students need to be very clear about their choice of the PGDM program and institute they are opting for. Students must evaluate the brand of business school, as a business school with higher brand value will provide a good learning environment and a large network of alumni.
MBA vs PGDM: Which is Finally Better?
Both the programs i.e. MBA and PGDM are good and very similar. What matters most is the business school you are getting, based on your score. Which Business School would you choose – MBA from FMS-Delhi University or PGDM from IIM-Lucknow? If I had to make a choice, I would certainly choose FMS-DU as the fee is drastically less than IIM-Lucknow and return on investment is faster.
However, there is a dearth of top-notch Universities providing MBA Programs, and students have no option but to opt for expensive PGDM programs which are equally good, but much more expensive.