With the growth in the business sector, more and more students are opting to pursue business management courses. Two of the most common courses when it comes to post-graduation in business management are PGDM and MBA. Most students who are looking to pursue postgraduate courses in management get confused between PGDM and MBA.
Both PGDM and MBA are postgraduate courses in management. MBA is a Master’s degree in Business Management, whereas PGDM is a Post Graduate Diploma in Business Management. The PGDM subjects are not vastly different from MBA, but there are some differences that students should be aware of before they choose between the two courses.
If you are also confused about PGDM vs MBA, we are here to help. We have listed all the things that you need to know about PGDM vs MBA in India so that you can make the right choice for yourself.
MBA vs PGDM in India
Here are some of the top differences between PGDM and MBA in India.
|Type of Institute||Colleges that are affiliated with one of the universities in India can offer an MBA degree to the students.||Any autonomous institute (such as IIMs, NMIMS, XLRI, MDI, etc.) can provide a PGDM course to the students.|
|Authority of Accreditation||MBA degree is accredited by one of the universities in India.||PGDM courses have to be recognised and approved by the AICTE.|
|Duration of the Course||Two years||According to the type of postgraduate diploma programme, the course duration can be one or two years.|
|Curriculum of the Course||The course norms of the MBA degree are largely dependent on the university and are not frequently revised.||The flexibility is higher when it comes to PGDM courses as they are offered by autonomous institutes. The PGDM subjects are updated more often than an MBA degree curriculum.|
|Aim of the PG Course||The focus is on developing theoretical knowledge and concepts. It focuses on the development of the technical knowledge of students.||The focus of a PGDM course is on preparing all the students for the practical aspects of business.|
|Fee Structure of the PG Course||MBA is considered to be more affordable.||The cost of PGDM programmes in India can vary between 5 lakhs to 20 lakhs.|
|Validity of the PG Course||It is a valid PG degree.||It is a valid postgraduate degree and is considered equivalent to MBA.|
|Placements after Completion||It depends on the college or university.||PGDM institutions may provide better placements.|
|Innovative Practices in the Courses||The scope for any innovation is quite limited as the syllabus is prepared by the respective university.||Courses, training and teaching can be multi-dimensional.|
MBA Jobs and Salary
People with an MBA degree can find themselves employed in numerous job profiles and can earn a good salary package, depending on the college and organisation. The average salary and job roles are listed below.
|Job Role||Average Salaries|
|Marketing Manager||₹5 – ₹8 lakhs per annum|
|Business Analyst||₹6 – ₹7 lakhs per annum|
|Investment Banker||₹8 – ₹10 lakhs per annum|
|Finance Advisor||₹5 – ₹8 lakhs per annum|
|HR Manager||₹7 – ₹8 lakhs per annum|
These are some indicative salaries as per the job role. The actual salary may depend on several factors, like college, organisation, skills, and experience.
PGDM Jobs and Salary
After completion of the PGDM course, graduates can find themselves employed in various job roles. These are some of the top job roles and their indicative salaries. The actual salary might be more or less, depending on the organisation, college, skills, knowledge, and experience.
|Job Role||Average Salaries|
|Consultant||₹9 – ₹12 lakhs per annum|
|Auditor||₹4 – ₹6 lakhs per annum|
|Data Scientist||₹7 – ₹9 lakhs per annum|
|Project Manager||₹12 – ₹15 lakhs per annum|
|Tax Specialist||₹5 – ₹7 lakhs per annum|
PGDM vs. MBA – Which is Better?
The differences between MBA and PGDM have been illustrated above. Depending on your interests, you can choose the right course for yourself.
Before you choose the course, here are a few things that you need to keep in mind:
- The fee structure for both courses might be different. If budget is one of the major considerations, compare the fee structures and then choose a course for yourself.
- Research and understand the curriculum of both courses. PGDM focuses on the practical aspects of business management, while MBA includes the study of more theoretical aspects of business management. Therefore, depending on your skills, you can choose the course that fits your goals.
- In terms of jobs and PGDM vs. MBA salary, there is no difference as long as you get admission to one of the reputed colleges in India or abroad.
- If you plan to pursue a PhD, then MBA might be a better choice for you. But if you are not seeking to do further studies, then this aspect can be ignored.
Thus, both courses have their own advantages. It eventually comes down to personal preferences and interests. Both degrees are valuable in today’s job market, provided you have the right skills and knowledge.
The difference between PGDM and MBA can sometimes be quite vague, and students get confused as to which degree is right for them. The PGDM course is more about the study of the practical aspects of business practices that are applicable in the business world. An MBA degree focuses on blending theoretical aspects with practical aspects. Both of these courses require students to put in hard work and commitment to excel and get a successful career.
If you are seeking the right college or university to pursue a PGDM course, you can get help from Sunstone. More than 50 campuses in India offer Sunstone’s benefits. You can opt for industry-focused certifications, specialised projects, and internships to foster overall development and gain a rewarding career in the long run.
Frequently Asked Questions
- What is the difference between MBA and PGDM?
MBA is a master’s degree in business administration, whereas PGDM is a postgraduate diploma in management. Both of these are postgraduate-level courses, but the curriculum and teaching methods are different.
- Which is better among MBA and PGDM?
Both PGDM and MBA have their own advantages. MBA is a theory-based study of business management practices, while PGDM is a practical-based study of the same. The choice between the two depends on an individual’s interests and preferences.
- What are the similarities between MBA and PGDM?
One of the top similarities is that both are post-graduate level courses in management. If completed from one of the top colleges in India, both of these courses will yield similar results in terms of post-graduation job opportunities and pay scale.