Thousands of students pick the MBA or PGDM programs for their post-graduate education every year because of the wide range of job prospects they provide. MBA stands for Master of Business Administration, and it is a university-based management degree. Post Graduate Diploma in Management (PGDM) is a program offered by private universities and institutes. Students who wish to work in business and management after graduation are frequently at a loss as to which course they should take to help them obtain the best job possible in the future.
To find out, one must first understand the key distinctions between the two courses before deciding which one to take. This essay will examine the distinctions between the two and assist ambitious students in determining which career path is best for them.
What exactly does an MBA entail?
MBA stands for Master of Business Administration and is offered by universities that have been accredited by the UGC. When it comes to seeking jobs and internships, the degree becomes extremely important. Students from many backgrounds apply for MBA courses, not just those who have studied BBA as an undergraduate because an MBA offers the best chance of obtaining a lucrative job alternative.
What exactly is PGDM?
PGDM stands for Post Graduate Diploma in Management, which is typically offered by independent business schools and trains students. Every year, a big number of companies seek managers, and the PGDM program provides the student with all of the necessary information.
Major distinctions between an MBA or PGDM
Though both courses teach about the same subject, business, they take different approaches to it, and so there are many distinctions between the two courses. Students must select between the two options based on their personal tastes and requirements. The following are the distinctions:
1. Course Type: MBA is a degree program offered by universities that is UGC-accredited, whereas PGDM is a diploma program offered by private businesses. PGDM Course (Degree) takes a more practical approach to the material, whilst MBA takes a more theoretical one.
2. Curriculum: Because the MBA syllabus is mostly defined by the university, it is reasonable to assume that the syllabus and curriculum for the course in two colleges affiliated with the same university will be the same and that the syllabus will remain unchanged for many years. For three to seven years, the curriculum is nearly unchanged. In PGDM, however, individual institutions/colleges determine the syllabus and program, hence no two colleges have the same PGDM syllabus. Furthermore, the syllabus is subject to vary every industrial year, depending on the college’s discretion.
3. Course Length: Both programs are two years long, although MBA follows a semester schedule and PGDM follows a trimester schedule.
4. Average starting income following the course:- It has been discovered that students with a PGDM degree earn more money than those with an MBA. MBA graduates earn an average starting pay of Rs 7-10 lakhs per year, whereas PGDM graduates earn an average starting salary of Rs 12-15 lakhs per year.
5. Possibilities for employment:- An MBA can lead to positions such as HR Manager, Business Analyst, Marketing Manager, Finance Advisor, Investment Banker, and so on, whereas a PGDM can lead to positions such as Project Manager, Data Scientist, Auditor, Tax Specialist, Consultant, and so on.
