Nowadays, students face a lot of difficulty and confusion regarding choosing the right post-graduation program for themselves. The value of a simple graduation degree has been continuously on the decline for the past few years and so, a meaningful post-graduation is required to distinguish yourself from the crowd. Therefore, students must make an informed decision about pursuing post-graduation only after thoroughly understanding where their passions lie.
A lot of analytical and critical thought should go into deciding a career path for yourself and choosing the right post-graduation program acts as a solid foundation to build your career on. You must think about all the options available to you, and understand yourself well enough to know where your passion and interests lie.
A post-graduation in Business Management and Administration has the potential to transform your career path and help you attain new heights. This article explores the benefits of pursuing a Postgraduate Diploma in Management and how can it help you take your career to unimagined heights.
What is PGDM?
The abbreviation PGDM stands for Post Graduate Diploma in Management. It is a program designed to impart the essential practical skills and managerial capabilities to students so that they can hold senior managerial positions in the corporate right after the completion of the course. Students learn managerial, executive and leadership skills through this program which can be used by them to boost their careers in a big way.
A lot many students get confused after seeing the word ‘diploma’ in PGDM and start to think this is a ‘diploma’ course and not a ‘degree’ course. The reason why this postgraduate course is called PGDM is that the institute conducting the course is an autonomous body, not affiliated to any university. The approval to conduct the course and confer diplomas is granted by the All India Council for Technical Education (AICTE), under the Ministry of HRD, Government of India.
Essentially, PGDM gives more attention to the practical aspects of business management, industry-oriented training, and the curriculum is based on the real-world business environment. This ensures that students get more practical exposure to the everyday functioning of businesses so that they are ready to tackle all the problems that they may face in their work life.
Benefits of pursuing PGDM
There are several advantages of pursuing a PGDM as compared to other postgraduate programs like MBA and PGPM. It is not only a lucrative option but it also aligns well with the latest industry trends. In this section, we will discuss in detail the advantages that a PGDM holds over other postgraduate programs in Business Management & Administration. Let us explore how a PGDM program can be beneficial to you.
- Management Qualification is an essential success tool
Generally speaking, a PGDM or an MBA equips students with skills and knowledge that are considered essential to manage any organization or a part of any organization. The organizational skills, analytical thinking and knowledge of management principles that are needed to manage large and small businesses are taught comprehensively in a course like PGDM. The entire focus here is to provide an industry-oriented course curriculum so that students are ready to work and perform in a high-pressure work environment right after completion of the course.
- You get a chance at better Career opportunities
As a logical fact, the quality and strength of your qualifications determine the kind of career opportunities and choices you will get. A PGDM graduate can be a highly valued asset to an organization. Due to the competition in the corporate these days, you will discover that you need a Management degree to even be able to get the first job interview.
In business schools like Asian Business School (ABS), PGDM students learn various business management principles, techniques, and skills that can help businesses grow. Some companies even go as far as to sponsor current employees to pursue a PGDM degree. It is evident that holding such a post-graduation in your arsenal makes you a valuable asset to any organization that you wish to work for.
- Highly practical and Industry-oriented Program
Most PGDM programs are routinely updated every year or so to match the current industry requirements. This is because the PGDM institutes in India are generally autonomous bodies and they do not have to wait for the universities to change the curriculum, as is the case with MBA programs.
PGDM Program is conducted by institutes by the approval of AICTE and the institutes can regulate their own functioning while staying within the regulations of AICTE. Due to this, PGDM institutes can choose to make an effort every year to research current industry trends & requirements and then tailor their courses accordingly to match those requirements and provide more relevant education.
- Vast Networking Opportunities
One of the many advantages of pursuing a PGDM degree is the big networking opportunities that it provides in those two years. A Management course includes students from all walks of life and all kinds of backgrounds, who have worked in a wide variety of fields. You get a chance to connect with people who may one day lead many big corporations and companies. These relationships are highly valuable, not just as a professional, but also for any endeavors that you might undertake in the future.
- Personality Development
A management course like a PGDM in Finance, Marketing, HR or any such specialization not only introduces students to the intricacies of principles of management but also helps them improve their communication and interpersonal skills. Through classroom lectures, role plays, guest lectures, industry visits, summer internships, and personality development programs, students learn better decision-making skills, get better at analytical thinking and shape their own personality.
In a Management course, you will come across all kinds of people with a range of qualifications, backgrounds, and experiences. You will not only have to connect with them but also work with them as a team in projects and tasks. Such exposure will shape your personality and fine-tune it for the life ahead of you.
- Improved Placement Opportunities
It has been found in a number of studies that with a Management degree in hand, you can demand a higher salary and a better position. These days, employers realize the value of such a qualification and are willing to pay significantly more to candidates having a Management degree. The companies will pay anywhere from 80 to 110 % more to Management graduates. A lot of hard work and determination goes into earning a PGDM degree and your salary certainly should reflect that subsequently.
Thus today, it is a fact that a PGDM not only provides you with the opportunity to work for leading organizations but also makes you capable enough to demand a better pay package and position.
To conclude, it can be said that PGDM is a widely recognized program with high employability rates if pursued from a good business school. Picking the right business school for this program is very important in order to upgrade your career opportunities. A large number of premier organizations recruit skilled managers every year. Fresh graduates can apply for such high-paying jobs after pursuing this course.
As things stand, in the current job market, there is a huge scope for PGDM holders. All organizations of all sizes employ PGDM graduates to ensure that their business administration is in the hands of experts. It gives you a lot more credibility and recognition so as to be considered for managerial and leadership positions. Top tier corporate players like BCG, Deloitte, Citibank, ITC, Reliance, HDFC, ICICI Bank, Philips, Nestle, Tata, Wipro, Microsoft, Amazon, Infosys, and others are always on the lookout for efficient and professional managers who can deliver great results in a high-pressure work environment of the corporate.
We wish you the best for your education and career!