Every year thousands of students take the route that leads to an MBA degree or the PGDM program for their future studies due to the vast range of opportunities for careers that it can provide.
MBA is essentially an MBA degree that is offered by a college or university In Mumbai.
PGDM is a reference to Post Graduate Diploma in Management which is usually provided by private universities and colleges. After graduating students who wish to make a profession in management and business are often faced with a dilemma over which one to take, which could help in locating the most suitable career path. To make a decision what to do, it is important to know the key differences between two options and then pick according to their preferences. This article will discuss the distinctions between these two and help students on their way to selecting the best career path.
What exactly is MBA mean?
MBA is an abbreviation for Masters in Business Administration and is offered by accredited universities of the UGC.
This degree is extremely important and useful in locating job opportunities and internships. Not only students who completed BBA as their undergraduate degree can are eligible for MBA Program as well as people from different backgrounds, since MBA offers the highest chance of obtaining a lucrative career path. The MBA program includes topics in business administration, relating to human resource, accounting management of entrepreneurship, operations and management business ethics, business law and communication, in general, any skills required for success in the corporate world. The effectiveness that comes with having an MBA diploma in India is evident by the speed with which MBA schools are rapidly growing in size
There are major differences among MBA and PGDM
Although both courses provide knowledge on the same subject which is business, they have a different perspective on it, which is why a variety of the differences between both courses are evident. Students have to pick between them, depending on their personal preferences and based on their requirements. The main differences are listed below:
Form of the Course:-
MBA is an academic degree program which is offered by colleges and universities. They are UGC affiliated, while PGDM can be described as a certificate program that is offered by private business schools. While MBA is more of a theoretical approach to the subject,PGDM Course (Degree) gives the most practical method of learning.
Curriculum:-
Because the MBA syllabus is largely controlled by the universities, it could be concluded as a given that both the curriculum and syllabus for the course in two colleges of the same university are the same and the syllabus will remain the same over a long period of time.
The syllabus stays almost the same for any period of 3 to 7 years. In PGDM however, the syllabus and curriculum are decided by the individual institutions/colleges In Mumbai, and thus no 2 colleges have the exact same PGDM syllabus. Moreover, the syllabus is subject to change every industrial year, as per the decision of the college
Cost of Pursuing (Fees and Return on Investment):-
MBA courses are generally lower in charges in comparison to PGDM. The universities receive financial aid from the government which means that students are required to pay fewer costs. However, private colleges providing MBA courses charge more. When evaluating the criteria for fees students must consider the total return on investment of each of these courses. This is gaining a greater understanding of which one will be able to pay the expenses via average earnings and the duration, which could be more effective in the long run.
Duration of the Course:-
Both of the courses run for 2 years. MBA follows a semester-based pattern and PGDM follows a trimester pattern. PGDM follows a trimester-based pattern.
The average salary following the course (starting) Average salary after the course(starting date)
It has been found that students who have the PGDM degree are paid more money than those with an MBA. The average starting pay for MBA graduates is around 7-10 lakhs annually, while the average salary of a PGDM graduate is Rupees 12-15 lakhs per year.
Career possibilities:
After having completed an MBA one could work as a Human Resources Manager or Marketing Manager, Business Analyst, Investment Banker, Finance Advisor etc. after having completed the PGDM training course one may work as a project manager or Data Scientist, Tax Specialist, Auditor, Consultant, etc.
Admission by Admission Exams Admission through Entrance Exams
Both MBA programs will accept scores from tests such as CAT, MAT ZAT, etc. Universities that offer MBAs are also accepting scores on state exams. PGDM institutions, in contrast to MBA they do not have a specific cut-off point but their selection is based on factors such as the past academic results and accomplishments aside from the score on the test.
Which one should you chooseWhich one is better -which one to choose? MBA or PGDM?
Based on the current situation in the present, it’s better for students to choose PGDM programs, since the curriculum is geared towards practical training and is more relevant to the current market. Since the curriculum is adapted each year, there is the possibility that a student will be exposed to and familiarize themselves with a greater range in business-related concepts than with an MBA. Furthermore, PGDM prepares you for dealing with real-world challenges in the field by using a non-traditional teaching method which is different from MBA. However, if you have doubts about the typically excessive costs of management courses it is recommended to choose MBA.
Conclusion
This article can serve as a reference for students who are considering one of the programs mentioned however are struggling in deciding which program will be the best fit for them. The article highlights the most significant distinctions between the two programs based on the contents of the buckets for students who are pursuing these programs. We have highlighted all the factors that distinguish two courses from one another. In the article, the possibility of taking PGDM in line with the current emerging trends in the business world in 2022 is much better. But, students are able to better comprehend the requirements and advantages of both programs by reading this article. Then, they can choose a career that isbest appropriate to them.