The rise of corporate culture has resulted in the creation of a variety of managerial positions. Many of these positions offer excellent salaries. This is why the majority of students opt for management courses In Mumbai. Yet, many are confronted with the PGDM or MBA issue when choosing the appropriate program.
MBA vs PGDM will happen since they are both most popular courses in management. However, one can lessen their concerns by knowing the distinction inMBA as well as PGDM. MBA is the abbreviation for Masters of Business Administration and PGDM is a reference to Post Graduate Diploma in Management.
The major difference between these two programs is the fact that MBA can be described as a degree program in contrast to PGDM is a diploma course. There is no distinction in PGDM and MBA in terms of the length of time. Both are two-year programs.
PGDM vs MBA – Similarities
When comparing PGDM in comparison to MBA there are many commonalities among the two programs. A few of these are like this:
Course Term
There is no distinction between the MBA or the PGDM with regard to duration. Both are two-year courses.
Course Benefits
The main reason for pursuing any degree or diploma program is to find better jobs. Both PGDM MBA programs offer great job opportunities in managerial positions. The majority of these jobs are highly-paid ones.
Eligibility Criteria
Students who are interested in admission should have an undergraduate Degree from a recognized university. They must be able to show a at least a score of fifty percent.
Entrance Exams
In order to be accepted into PGDM and MBA programs, one must take entrance exams. The tests that are required include CAT GMAT, MAT CMAT and XAT. It means that one cannot do PGDM or MBA using entrance exams.
Job Opportunities
There are a variety of possibilities for employment after PGDM as well as an MBA course. The majority of these positions are managerial and allow one to manage the team. A lot of people opt for MBA following engineering to enter management positions, enhance their career prospects, or increase the amount they earn.
PGDM vs MBA – Differences
Degree vs Diploma
The most important difference between PGDM in comparison to MBA can be seen in the fact it is that PGDM is a diploma-level program whereas MBA is a degree program. MBA is a degree-granting program. Only those universities that fall under the University Grants Commission (UGC) are able to offer students with an MBA degree. The AICTE-recognized and autonomous b-schools are able provide an PGDM program.
Methodology
Although they both MBA PGDM courses are designed to train students in management and administration Their methods differ. The MBA class is an more theoretical one, whereas the PGDM course is more focused on the technical aspects and offers adequate exposure to industry.
Course Structure
There is no PGDM and MBA distinctions in terms of duration. There is however an important difference among PGDM as well as MBA in the sense of course structure. In the MBA course, MBA course is split into semesters, whereas PGDM follows a triester pattern.
Fee Structure
One of the most important aspects in an important aspect of the MBA and PGDM analysis is the cost structure. MBA programs are offered by universities and colleges and, in the majority of cases, they receive approval from the government and UGC. Thus, their cost is considerably less than PGDM.
However it is true that a PGDM program is an enormous capital investment. The business institutes and self-dependent schools that offer PGDM programs are usually on campus and have to pay all the costs all on their own. The effect of this bearing is evident as a rise in costs for the program.
The cost for two years of MBA is INR between 20,000 and INR 40 lakhs in India. However, the PGMD course is priced between 4 and 24 lakhs p.a. Therefore, it is possible to see the difference in costs when doing PGDM and MBA analysis.
Jobs after MBA vs PGDM
If students are studying PGDM or MBA One concern for them is what’s following next? What can they do to get decent job or be a part of an established business?
There are many career possibilities following an MBA and in India. If considering the post-MBA career opportunities, students should think about making a list of each industries they would like to work in. They must conduct a thorough study of these industries and make an outline of the pros and pros and. It is important to consider aspects like your job title, the skills required for the job, potential salary, and prospects.
Investment Banker
Looking for a career after an MBA in the department of investment banking is very popular. If one believes that he is able to make the best investment choices and is aware of how to get a good return on investment, and is interested in investing, then it could be a great career option.
The job that an investment banker plays is connecting investors to businesses and to manage the funds.
Salary scale INR 2 – 29.9 lakhs p.a
Data Analyst
The rapid advancement of technology and the increasing demand for digitalization in the business world has led to an increase in the demand for data analysts. Data analysts are required in every sector including retail, e-commerce management IT, banking, etc.
Many business schools also provide specialization in data analytics, which makes way for even more career options after MBA.
Salary scale – INR 1.8 – 11.7 lakhs p.a
Management Consultant
If you have excellent problem-solving abilities, management consulting is an excellent career option after completing MBA Course In Mumbai. The job of experts in management consulting is to address organizational issues.
A management consultant is accountable for taking on innovative concepts and strategies for problem solving. Management skills are an important role in this field and can put into practice everything that is examined by them.
Salary scale INR 8.4 – 35.8 lakhs p.a
Human Resource Manager
HR managers are professionals who are responsible for the correct control and management of an HR department. The main responsibilities of HR executives are to hire and interview potential candidates to conduct training and development sessions, foster an environment of openness as well as encourage collaboration among every department of the business and many more.
The HR manager must be adept at negotiations, time management problems-solving, processes for organization and many more.
Salary Scale – INR 3-18 lakhs p.a
Information Technology Manager
The IT sector has evolved into an enormous industry that offers a number of opportunities for employment and IT managers are one of them. IT managers are employed to ensure accountability for the ethical conduct and management of the company.
The decisions made by the IT manager are based on the information available. Thus, data analysis is an integral part in the IT manager’s job. Apart from that IT managers are also accountable for the documentation, handling finances, and presenting the project.
Salary scale: INR 3.2 25 lakhs p.a
The most sought-after jobs that follow PGDM are
Accountant
After completing a PGDM finance Studies In Mumbai one could be able to get this job. Accounting professionals help businesses finance their operations, reduce costs and increase their earnings. They use their financial knowledge as well as the knowledge they gained at colleges or universities to make more informed decisions about their organization’s resources.
Salary scale: INR 0.8 to six lakhs p.a
Financial Analyst
PGDM Finance majors students get the chance to analyze the advantages and disadvantages of different industries and study patterns across multiple industries. Financial analysts gain from courses in math, finance, accounting and economics, which are essential to the PGDM major.
Salary scale: INR 2.1 10.5 – 10.5 Lakhs p.a
Business Advisor
The career choice of being a business advisor is a fantastic method to make use of the knowledge and expertise gained from this PGDM course. Self-reliant business advisors are demanded by all organizations for analyzing ways one can improve operations to aid in development and growth. Business advisors can be invaluable sources for people who are thinking about conducting business for the very first time.
Salary scale INR 1.5 – 18.4 lakhs p.a
Entrepreneur
Degrees in business require more comprehensive approach to equip students with the most effective skills needed to start an enterprise. This is where the journey of entrepreneurs starts when they are prepared to stand up for their own opinions and become a self-reliant company.
The pay scale for entrepreneurs isn’t fixed since they are the head of their business which means there’s no ceiling on profits.
Brand Manager
A person can become an executive in the field of brand management after having completed your PGDM course. They are accountable to oversee the quality and performance of products. Their job entails following market trends and maintaining an eye on competing products that are on the marketplace.
The PGDM course In Mumbai is designed to teach students the analytical skills and teamwork skills which are required in this position. It is also necessary to develop excellent communication and interpersonal skills to be successful in this field.
Salary scale INR 3.5 31.5 – 31.5 thousands p.a