MBA versus PGDM – What to Choose?
Is it better to get an MBA or a PGDM? While looking for the best management program for you, you must have pondered this question. Even though you’re looking at the best colleges for MBA in Delhi, you discover that several of the business schools you want to attend offer a PGDM program instead. Why is it referred to as a PGDM diploma course rather than an MBA degree program?
MBA and PGDM stand for Masters of Business Administration and Post Graduate Diploma in Management, respectively. Although both programs are two years long and are given by prestigious B-schools to educate candidates for a profitable management career, there are some important similarities and contrasts between them.
Here’s How Both MBA and PGDM are Similar:
When it comes to industry acceptance and higher education, the MBA and PGDM are identical.
Both courses teach managerial skills, but recruiters are more interested in the quality of the B-school, its unique value propositions, alumni track records, and the value that graduates bring to the table. In truth, recruiters do not distinguish between these students and PGDM students in b-schools that provide a one-year ‘certificate’ program in management, sometimes known as PGPM, PGP, or other names depending on the B-school. Hiring is solely based on the recruiter’s work experience, background, and skill requirements, as well as how well the students meet those standards.
A similar argument can be made for pursuing higher education, such as a PhD or Fellowship program. A PGDM diploma from the top PGDM colleges in Delhi is equally as good as an MBA degree for pursuing a PhD. At the undergraduate level, a degree was always thought to be more valuable than a diploma. However, the value of postgraduate courses, such as management programs, is determined by the quality and value supplied by the business school and the course, not by the nomenclature.
Key Points of Difference Between MBA and PGDM:
In response to changing business demands and industry behaviour, business schools (or private MBA colleges) offering PGDM can alter their curriculum. They can quickly adopt new methods, techniques, and technology to provide their students with cutting-edge instruction. Meanwhile, the best colleges for MBA in Delhi undergo such revisions over some time, usually 3 to 5 years.
Students can benefit from private b-schools offering PGDM courses by inviting visiting teachers from around the world for an enhanced learning experience. In addition, business schools that specialize in on-campus PGDM programs place a strong emphasis on students’ overall development through soft-skill and leadership-based courses and activities, extra-curricular, and intensive industry interaction through guest lecturers.
1. Degree Versus Diploma
The MBA is a degree program, whereas the PGDM is a diploma program. This is the first and most important distinction between the two courses. A government or private institution, or a college connected with a university, offers an MBA. Degrees can only be awarded by these universities, which are governed by the University Grants Commission (UGC).
AICTE certified b-schools and standalone/autonomous b-schools under the Ministry of Human Resource Development (HRD), which are not under the UGC, offer a PGDM curriculum. It is important to note, however, that the business world makes no distinction between the two. Graduates of both degrees are equally qualified for management positions.
2. Updating Curriculum
MBA programs, on the whole, follow a set curriculum and are more theoretical. The updating of the curriculum to keep up with changes in the industry and economic landscape has a certain rigidity to it.
The PGDM curriculum, on the other hand, can be amended or modified at the discretion of the business school, keeping it up to date with new industry requirements and standards. This gives the schools a competitive advantage and enables more practical application-based learning rather than pure theoretical study.
In reality, any excellent PGDM school would include industry experts in curriculum design. These veterans contribute a foresight that encourages management curricula to include emerging and disruptive technologies like AI, Design Thinking, and Business Analytics.
3. Eligibility Criteria
Both schools accept scores from CAT, MAT, GMAT, XAT, and CMAT, among other competitive exams. Many institutions and colleges accept results received in respective state-level assessments for MBA programs. When it comes to entrance exams, there is no such thing as a one-size-fits-all solution.
Shortlist in PGDM colleges in Delhi may also be based on other variables such as past academic and professional performance, achievements, variety of background, and so on, rather than a particular entry score cut-off. These exam results are an important criterion for admission to the schools of your choosing. As a result, you must first determine which test results are desired at those schools, as well as their cut-off or safe-score requirements, and then prepare accordingly.
Finally, a PGDM from any top school will almost certainly lead to a highly satisfying profession. Because of the program’s pedagogy and close industry connection, PGDM graduates may have an advantage, allowing them to stay more pragmatic and relevant in the sector for longer. An MBA from a reputable college or university with a long track record in the business, on the other hand, can help you reach specific urgent career goals at a fraction of the price.