The life of a Management Student goes through a few critical checkpoints and one of the most crucial checkpoints is placed right at the start when one has to decide whether to pursue an MBA or choose a PGDM course.
Both MBA & PGDM are two-year-full time post-graduate programs in Management Studies focused on enabling students with skills and techniques to manage and optimize business operations effectively.
As with any crucial decision in life, you must evaluate all aspects of the choices you are about to make. Here’s an article covering the differences between an MBA and a PGDM course. The article will help you evaluate which of these two is the best fit for you!
MBA vs PGDM
MBA is the traditional choice for Management studies while PGDM offerings are more recent and have been witnessing growing demand. There are about 5000 MBA colleges in India including private as well as government colleges. Whereas, there are roughly 3500 colleges of PGDM in mumbai with about 79 institutions added in the academic year 2022 – 2023 to the list.
Here are the key differences between an MBA and a PGDM Course:
Curriculum
The major difference between an MBA and a PGDM course is the curriculum. The MBA program is offered by the University which takes charge of creating the curriculum. The curriculum is approved by the University Grants Commission and does not undergo frequent revisions.
The PGDM course is offered by AICTE approved institutes. The All India Council for Technical Education is a national-level statutory body under the Department of Higher Education, Ministry of Education is responsible for the development, approval, and implementation of technical education in India. The curriculum of a PGDM course goes through revision once a year and is updated as per the latest industry trends. The curriculum is designed by the Board of Studies which consists of Industry Experts, Alumnis, and Faculties which make the PGDM curriculum industry relevant.
Another major difference in the curriculum is the practical nature of the courses. An MBA course is more theory based whereas a PGDM course focuses on the practical aspect of running a business and has more hands-on projects throughout the learning phase.
The PGDM courses offered by most business colleges in mumbai including the Vivekanand Business School are accredited by the Association of Indian Universities (AIU) which makes it equivalent to an MBA degree from an Indian University.
The dynamic nature of a PGDM course makes a PGDM graduate a more preferred talent as they are already aware of the current industry challenges and have learned techniques to overcome them.
Eligibility Criteria & Entrance Exams
The admission process for MBA and PGDM is quite similar. Both MBA and a PGDM course accepts a wide range of competitive entrance exams and involve written tests, group discussions, and personal interviews.
The eligibility criteria for both MBA and a PGDM in mumbai are mostly the same. Both the courses require the student applying to have completed a bachelor’s degree from a recognized institute. The cut-off percentage differs from one institute to another. However, most institutes require a score of atleast 50% and above.
Students must qualify for national or state-level entrance exams such as CAT, XAT, MAT, CMAT, GMAT & CET. Students can also appear for private entrance exams like SNAP, TISSNET, IIFT, NMAT, IBSAT and etc to to apply for the respective private colleges.
Specialisations
MBA institutes in Mumbai and PGDM colleges in Mumbai have many specialisation options. The common specialisations include Banking & Finance, Marketing, Human Resources, Retail, Operations & Supply Chain Management, IT & Business Analytics.
While the specialisations found in both disciplines are almost the same, the key difference is in how these specialisations are approached by the institutions. With an inherently dynamic curriculum, a PGDM course is tailored to provide specific skillsets needed to deliver effective performance from the onset of the career. This allows institutes to fuse and strengthen their PGDM curriculum with new-age topics and enhance their student’s career opportunities.
One of the salient features of the PGDM course offered at Vivekanand Business School is the focus on Big Data and Data Analytics. The curriculum of each specialisation offered in the PGDM course includes Big Data and Analytics subjects which provide the students with the technical know-how of working with data and deriving insights relevant to their field of specialisation. The PGDM course is blended with AI, ML, Data Driven Problem Solving, statistical programming tools, and languages.
Job Opportunities & Salary
This is where the major difference between an MBA and a PGDM course starts to manifest. Because a PGDM course is so dynamic in nature the students find themselves well-acquainted with the current industry challenges and practices which naturally allows them to perform better during interviews.
Companies looking for Management professionals also tend to exhibit a preferential bias towards PGDM candidates as they are prepared to deal with emerging challenges and know their way around meeting industry needs.
The starting salary of an MBA graduate is generally in the range of 5 – 10 LPA while that of PGDM graduates is 7 – 15 LPA.
Management graduates are generally appointed as Business Analysts, HR Managers, Finance advisors, Marketing Managers, Investment Bankers, Data Scientists, Project Managers, Tax Specialists, Auditors, Business consultants, etc.
Conclusion
Choosing between an MBA and a PGDM course can be nerve-wracking. But be that as it may, it is one of the most crucial decisions you are about to make. There is no doubt that both an MBA and a PGDM course have a common goal of providing you with the skill sets and abilities to manage a business effectively. However, It all comes down to which of these courses is placing you in the position of leverage.
Here are the themes you must consider while choosing between an MBA and a PGDM course:
Identify your priority: Are you looking to learn a theory-based course or do you wish to pursue more practical coursework
Evaluate the curriculum: Compare the curriculums of the various colleges and specialisations you have shortlisted between MBA and PGDM courses. Evaluate which of these curricula is enabling you with the skills you need to ace the current work environment
Visualise your long-term goals: Figure out what is more important to you. What job role do you find yourself most aligned to and how much salary do you expect for yourself?
A key point to note is that PGDM has unique characteristics. The programs offered by Vivekanand Business School provide a career edge to its students through a cross-disciplinary approach that emphasizes technology, data analytics, and leadership skills during the learning phase, which makes us the best PGDM college and PGDM our course the perfect choice for Management studies