MBA Vs PGDM

Overview of MBA

MASTER OF BUSINESS ADMINISTRATION (MBA).MBA courses are popular because students from any background -science, commerce, and humanities can pursue them.

MBA degree is a 2-year PG degree that offers vast career opportunities after course completion. Master of Business Administration prepares students for leadership roles in the business world and enables them to find work in varied industries.

Admission to MBA courses is solely based on entrance exams followed by a group discussion (GD), Aptitude ability, and Personal Interview (PI). Entrance exams that are considered for MBA courses include CAT, CMAT, XAT, GMAT, and ATMA.

Students can pursue MBA courses in different modes according to their Colleges and universities including Full-Time regular MBA, Online MBA, Distance MBA, Integrated MBA and Extension MBA the duration should be changed according to the various course types.

Candidates can also pursue an MBA in both government and private colleges including :

Top government colleges in India with low fee structures are :

• FACULTY OF MANAGEMENT STUDIES UNIVERSITY IN DELHI (FMS) 
• DEPARTMENT OF MANAGEMENT STUDIES ANNA UNIVERSITY IN CHENNAI -INR 20,500
• NATIONAL INSTITUTE OF MANAGEMENT MUMBAI-INR 40,700
• RKDF UNIVERSITY BHOPAL-INR 50,000
• INDIAN INSTITUTE OF BUSINESS MANAGEMENT AND STUDIES MUMBAI -INR 50,800

Top private colleges in India offer Management business administration (MBA) courses that are:

• XLRI XAVIER SCHOOL OF MANAGEMENT JAMSHEDPUR -INR 2,860,000
• MANAGEMENT DEVELOPMENT INSTITUTE (MDI) GURGAON, GURUGRAM-INR 1,670,000
• SYMBIOSIS INSTITUTE OF BUSINESS MANAGEMENT PUNE-INR 2,796,000
• SP JAIN INSTITUTE OF MANAGEMENT AND RESEARCH MUMBAI -INR 2,400,000
• AMRITA VISHWA VIDYAPEETHAM COIMBATORE -INR 1,350,000

On graduating with MBA courses they can opt for job profiles like finance manager, marketing manager, sales manager, human resource manager, and production manager.

OVERVIEW OF PGDM: 

 POST GRADUATE DIPLOMA IN MANAGEMENT (PGDM) is a two-year business management program that caters to industry requirements and helps management aspirants develop relevant hard skills and soft skills to transform into industry-ready management professionals.

PGDM course is a 2 year program however it may be slightly different for a few institutions as the same as MBA. students can pursue a PGDM course in different modes: Online PGDM, Full-time PGDM, distance PGDM, Extension PGDM, and Dual specialization PGDM.

The eligibility criteria for a PGDM course is that the candidate should complete a Bachelor's degree in a recognized university with a minimum of 50% Marks and many institutions take entrance exams for applicants such as XAT, MAT, and CAT.

There are both private and government colleges offering PGDM courses 

The Top government colleges in India with low fee structures are:

• IIFT DELHI -24 th RANKED BY NIRF
• JAIPURIA INSTITUTE OF MANAGEMENT NOIDA -47th RANKED BY NIRF
• JAMIA MILLIA ISLAMIA (JMI)
• JAMNALAL BAJAJ INSTITUTE OF MANAGEMENT MUMBAI (JBIM)

The Top private institutions in India offering PGDM are:

• S . P JAIN INSTITUTE OF MANAGEMENT AND RESEARCH MUMBAI
• AMITY UNIVERSITY
• CHRIST UNIVERSITY
• IMT GHAZIABAD 

The career opportunities for PGDM students are HR recruiters, sales managers, public relations managers, research analysts, etc.

In this article, we will learn about the difference between MBA and PGDM courses. Every aspirant has this comparison in mind before signing up for management courses so we will see which one is better.

SPECIALIZATIONS OF MBA IN INDIA: 

There are numerous specializations in MBA programs some of the popular specializations are given below:

1. MBA IN HEALTHCARE MANAGEMENT:

The healthcare industry has rapidly transformed.to deal with the current environment of modern healthcare. An MBA in healthcare management prepares students to pursue careers in healthcare coordination, hospital administration, and healthcare management.

2  MBA IN INTERNATIONAL BUSINESS:

A specialization in international business is an excellent choice to develop skills and gain a thorough understanding of global economic trends which will benefit you as you navigate through the global business world.

3. MBA IN FINANCE:

Among all the MBA specializations, it is the most desirable specialization in MBA for various reasons. It gives you a thorough understanding of financial management and the financial markets to make informed decisions in the field.

4. MBA IN HUMAN RESOURCE MANAGEMENT:

An MBA in human resource management gives you a profound experience in organizational behavior, hiring and training, and human resource management. You will develop your managerial skills and ability to adapt to changing environments.

SPECIALIZATION IN PGDM:

PGDM program offers numerous specialization options some of the most popular specializations are:

1. PGDM IN DATA SCIENCE AND BUSINESS INTELLIGENCE:

This program is designed with a vision to skill students in the area of data science and analytics for better employability and career purposes. This program teaches students the effective use of data for better business decision-making 

2. PGDA IN ENTREPRENEURSHIP AND INNOVATION:

The entrepreneurship and innovation major provides PGDM students with leadership skills, analytics tools, perspectives, and experiences that prepare them for career employment opportunities.

3. PGDM IN FINANCIAL MANAGEMENT:

This program focuses primarily on building a strong foundation of conceptual and analytical skills required for advanced studies and decision-making in the financial field.

4. PGDM IN MARKETING MANAGEMENT :

The PGDM in marketing management is a study of consumer behavior and creating products that they will most likely want to buy.

DIFFERENCE BETWEEN MBA AND PGDM

MBA and PGDM both are management courses at the master level and the course curriculum is the same, however, there is not much difference in the job market, and both are business-oriented courses The main aim of both these courses is to equip individuals with the latest technologies and skills in business administration and management.

There are Five Major Differences between an MBA and a PGDM

1. PGDM Vs MBA (DEGREE/ DIPLOMA)

•  At the end of PGDM courses, the candidate is offered a Diploma whereas at the end of the MBA course, the candidate receives a degree
• Many students think the diploma course does not hold the same value as the degree course but that is not true.
• Many Indian institutes of management and other top Business schools such as XLRI Jamshedpur and SP Jain Institute of Management and Research Mumbai  offer PGDM courses 

Both MBA and PGDM are highly valued in the job market they are the same terms of course. The PGDM course in Jamshedpur is more valuable than the degree from the state university.

2. MBA Vs PGDM:(SYLLABUS)

•  The MBA course curriculum is designed by the university. The core MBA syllabus will be pretty much the same in Two MBA colleges under the same University. the MBA syllabus undergoes to change periodically Universities tend to lag and change the syllabus after a few years
• Even though the PGDM syllabus is no different from the MBA syllabus. since these courses are determined by the individual institutions.it gives them certain flexibility to design the course curriculum 

3. MBA Vs PGDM: SUSCEPTIBLE TO FRAUDULENT

• PGDM courses are offered by autonomous bodies, students need to be careful while taking admission. Many smaller colleges and institutions make claims but do not have proper accreditation status.
• MBA degrees are conferred vu varsities hence there are lower chance of fraudulent  claims
• Management students look for genuine accreditations apart from UGC recognition management institutions that are accredited by NAAC, AACSB, and AMBA.

4. MBA Vs PGDM: FOCUS SUBJECTS

•  Both MBA and PGDM have the same core of subjects Some experts claim most MBA courses focus more on theoretical and technical management rather than adopting a practical approach
• The PGDM courses, on the other hand, have an industrial orientation and focus on skills- based on market requirements.

5. MBA Vs PGDM: COST 

• It has been observed that most of the MBA course fees are lower compared to the PGDM course Fee structure.
• This is so because an MBA degree is Most often offered by government institutions In the case of a PGDM degree, students have to bear the cost of the entire program as private universities that offer these degrees have no government backing.

CAREER AFTER MBA:

According to AIMS, banking, finance, consulting, marketing, manufacturing and technology are some of the fields that are craving for MBA graduates they are mentioned below:

CAREER AFTER PGDM:

A PGDM degree can offer lucrative job opportunities to students in different fields. Take a look below to know the best career options after PGDM

WHICH ONE SHOULD YOU CHOOSE?

One should choose management studies they should consider the institute authorities, syllabus, admissions, cost, and future career of the course. In my view, an MBA is the older version for those wishing to pursue management studies, a two-year diploma course PGDM post-graduation diploma in management sounds better.PGDM courses are industry-oriented, unlike MBA which are more theoretical.PGDM course focuses more on grooming programs mentorship and industry exposure also the placement services are rigorous with PGDM Programs. Hence PGDM course from a recognized institution is usually good for pursuing good salary options.

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