While choosing a course in business management,aspiring students generally feel a dilemma about which course is better – MBA or PGDM? Here is an article about all the differences between MBA and PGDM that should help you in deciding which one is best for business and management.
- MBA is abbreviation of Master of Business Administration while PGDM stands for Post Graduate Diploma in Management.
- Type of programme: MBA is a degree programme, while PGDM is a diploma programme.
- Affiliation: PGDM can be provided by any B-school, college or institute like Asian Business School(ABS)after the approval from All India Council for Technical Education (AICTE), while MBA is provided by a college affiliated to a university which has a formal approval by University Grants Commission (UGC).
- Course duration &fees: Both PGDM &MBA are 2-years course but PGDM fees is generally more expensive than MBA.
- Entrance exam: While PGDM colleges mandatorily take admissions through national level entrance tests like CAT, XAT etc., MBA entrance is usually through the university common entrance test. Merit weightage includes the GD-PI and other processes conducted by institute and the graduation percentage.
- Eligibility: Both can be pursued after graduation in any field of study.
MBA vs PGDM: Which one is best?
- Curriculum difference:
Because of the dynamic nature, management is a sector where every day large numbers of changes occur. In this scenario, the course which is flexible to change their curriculum according to the concurrent changes in the business world is more beneficial for students as they should be up-to-date with the demands of the corporate world.
Curriculum of MBA and PGDM are quite different from each other; both courses are for management, but MBA curriculum is rigid as it is set up by university which change their curriculum only in 3or 4 years due to which students suffer. However, in PGDM courses, the curriculum is set by institutes; so because of their autonomous nature, they update their curriculum to make sure that their curriculum is up-to-date according to the trending changes in management.
- Programme focus:
Although PGDM course is a diploma programme, but it has a benefit over MBA in the sense that PGDM is more focused on practical exposure and building necessary skills in students while MBA has focus on conveying the theoretical aspects of business management.
For management study, practical exposure is a key factor to get success as without actually doing, there is no use of learning. In other words, this field of education is better understood by experiential learning which is provided in PGDM course.
- Course orientation:
The orientation of PGDM is set-up according to the industrial demands. PGDM has high level of dynamism which matches with the dynamism of the management sector.
On the other hand MBA orientation has some laggardness in their curriculum. The curriculum is more focused on exam purposes study, which is the major disadvantage of MBA course.
- Salary package:
PGDM provides job having higher salary package when compared to those that are provided by an MBA degree.