The cut-throat competition in the job market has prompted students to adopt an extremely well-planned approach to achieve their career goals. Thus, students tend to plan their course-of-action to achieve success in their career, right from their school days. They can assess their capabilities and interests very well and choose their course of education. Not only students, even professionals who desire to further boost their career, explore various post-graduate courses. Thus, individuals with considerable years of professional experience opt for MBA or
PGDM courses that help them achieve a cumulative career growth. This is the major reason why higher education is imperative in the current job market.
The decision regarding which post-graduate course to take up is a major area of concern for most students or professionals. As the field of management offers one of the most lucrative career options, more than 55% students opt for a higher education degree which will boost their career in the management and business industry. But, the major dilemma that individuals face in this sphere lies in choosing between an MBA or a PGDM program.
With a very thin line of difference between the two, this is a common area of confusion for individuals seeking a post-graduate course in the domain of management. The confusion arises with the word ‘Diploma’ in PGDM. Most students develop the notion that, PGDM isn’t similar to MBA in a way that one is a diploma and the other is a degree course. In reality, the only reason in the Diploma-Degree tussle the source of its affiliation. With both offering a pathway to a prosperous career, there is hardly any other major difference between an MBA and PGDM program.
The main reason why some post-graduate courses are named PGDM is because, when an institute is an autonomous body, i.e. it is not affiliated to any university; it cannot offer management courses under the banner of an MBA. Such institutes offer management courses under the banner of PGDM. On similar lines AICTE (All India Council for Technical Education) also allows approved colleges to offer a PGDM program. The management institutes offering such AICTE approved PGDM courses need not necessarily be independent and autonomous. In such cases the PGDM course offered by the university is autonomous and is directly approved by AICTE, Ministry of Human Resource Development, of the Government of India. But in most cases, the PGDM program is offered by an autonomous institute.
- Very few offer MBA, most institutes/colleges offer PGDM: As per the prevailing Indian law, only universities can offer degree courses like MBA, MCA, M.Sc, etc. Any educational institute that doesn’t have affiliation a University is not entitled to offer a degree program. As a result, notable institutes like the IIM’s, XLRI’s, etc which are autonomous and operate independently, do not have an affiliation from any university and thus offer PGDM courses.
- MBA or PGDM- Hardly any difference!: In the Indian context, there is practically no difference in the way the industry treats PGDM and MBA graduates. If we see, 90% of the prominent B-Schools in India provide PGDM course and the graduates from such colleges grab the highest pay packages, when it comes to recruitment by eminent corporations.
- Both Offer the Same Career Growth: Both PGDM and MBA offer the same Career Growth, as career growth is majorly dependent on the performance of an individual and not on the name PGDM or MBA. The Degree or Diploma program doesn’t affect the growth or career opportunities of an individual.
- Autonomy is Advantageous: Autonomy gives the freedom to an institute to design the curriculum on the basis on the current industry standards, rather than following the outdated university curriculum. Thus, in PGDM the curriculum gets updated at regular intervals, keeping in mind the changing business scenario. This makes the PGDM courses more industry-relevant and up-to-date as compared to MBA programs.
In theory, both MBA and PGDM program provides with the same outcome ultimately. But PGDM programs offer an extensive overview of the prevailing industry standards, acquainting students with industry-intensive knowledge, which will help them achieve a cumulative career growth. Therefore, though PGDM and MBA has the same worth, but a PGDM program majorly focuses on preparing students with the practical business situations that they will face in the corporate world, giving an edge to their career.