PGDM Vs MBA – Which One is Better?
Though both PGDM and MBA are management programmes, the choice whether to take up an MBA program or a PGDM leaves many students confused every single year. Of course, these courses are more or less similar yet they also differ in certain key aspects.
PGDM (Post Graduate Diploma in Management) is a management program that is offered by institutes affiliated to AICTE. These institutes are autonomous and are not affiliated to any of the universities. On the other hand, MBA (Masters in Business Administration) is a management program that is offered by institutes affiliated to University. Simply stated, MBA can only be offered by Universities. This is a major difference between PGDM and MBA programs.
However, there are a few more differences which are significant in helping you get clarity about both the programs.
|Fee Structure||PGDM may charge the candidates with higher fees as these programs are run by autonomous institutes.||MBA fee is comparatively lower as university guidelines are followed.|
|Program Relevance||New relevant changes as per industry standards are updated in the curriculum as institutes have the freedom to modify the programs as per current business demands.||MBA program usually follows the guidelines of the Universities and hence there are more theoretical concepts discussed as the curriculum is fixed.
|Skill Development||There is a lot more emphasis given on soft skill development and developing relevant industry skills.||Though similar aspects are surely given due importance here as well but the scope is limited.|
|Course Status||Can be treated as an MBA degree if it has AIU (Association of Indian Universities) affiliation.||MBA degree is by default offered by Universities.|
|Course Affiliation||It is approved by AICTE, Indian Government and HRD Ministry.||It is approved by Universities.|
|Weightage of course||The brand value of institute is equally important as the course itself.||The ranking of the university matters as much as the degree.|
|Course Duration||The duration of this course is usually two years with 6 terms in total.||The duration of this course may vary from 1-2 years. Generally, it is of 2 years and there are 4 terms in total.|
The above tabular representation gives a detailed clarity about the parameters on which these courses are differentiated. The weightage of management program depends on the brand value of the institute offering it as the industry evaluates the performance of the students recruited and relate it with the training given at the institute.
Going by the industry consensus, PGDM programs are considered to be more relevant and updated to match with the current industry needs.