What is the difference between MBA and a PGDM?
MBA or PGDM? You need to think about these questions ,when looking for a management system that suits you. When you are looking for an MBA program, you know that some of the BSchools you want to get into actually have PGDM programs. Why is it called PGDM, a master's degree and not an MBA degree?
MBA stands for Master of Business Administration and PGDM stands for Postgraduate Diploma in Management. Although both courses are two years in duration and are offered by prestigious business schools to prepare for the requirements of a successful management career.
|
Parameters |
What is PGDM? |
What is MBA? |
|
Full Form |
Post Graduate Diploma in Management |
Master in Business Administration |
|
Level |
Diploma |
Degree |
|
Duration |
2 Year |
3 Year |
|
Approving Authority |
AICTE, AIU, MHRD, Govt. of India. |
AICTE, MHRD, AACSB, AMBA, Govt. of India, and UGC |
|
Course Fee |
INR 3 lakh - INR 15 lakh |
INR 2 lakh - 27 lakh and above |
|
Course Offerings |
500 B Schools |
5500 Universities and colleges |
|
Validity |
Valid and equivalent to Post Graduate Degree. |
Valid Post Graduate Degree. |
|
Eligibility |
Graduation in any stream or equivalent degree from a recognized university. |
Graduation in any stream or equivalent degree from a recognized university. |
|
Placements |
PGDM institutions have better placement records than MBA institutions. |
Depends upon the institution. Comparatively, Some of the MBA institutions like FMS, JBIMS have better placement records. |
|
Types |
Marketing, Finance , Analytics, Human Resources |
Full Time, Part Time, Executive, Accelerated One Year MBA |
|
Course Syllabus |
Dynamic, Gets updated as per needs of the industry. The syllabus is approved by AICTE. |
The syllabus is prepared by universities and gets updated less frequently. |
|
Innovative Practices |
Teaching and training are multidimensional. Cases, simulations, presentations, short term training are part of pedagogy. |
Limited scope for innovation as practices are defined by syllabus prepared by central body i.e. University. |
|
Ranking in general (by business magazines and student-centric websites) |
90% of top 100 are PGDM institutions owing to better teaching, training, exposure and placements. Eg: IIMs, XLRI, MDI, IMT, GIM, and many more. |
Approximately 10 out of the top 100 are MBA institutions such as FMS, NMIMS, KJSIMS, SCMHRD, etc. |
|
Equivalence |
Equivalent to MBA from any Indian University. For PhD, Teaching (UGC NET) and all other purposes. |
MBA a post-graduate degree. |
|
Entrance Process |
Thorough CAT/ MAT/XAT/ATMA and some state-level examinations like TSICET, MAH-CET etc. |
Thorough national and state tate level entrance examinations like CAT, MAT, CMAT, TSICET, MAH-CET etc. |
|
Examinations |
PGDM institutions are authorized by approving body, AICTE, to conduct the Examinations |
Examinations are conducted by University |
|
Work Experience |
N/A |
Some courses and colleges demand work experience of 3 to 5 years |
|
Focus |
Focus on theoretical and technical aspects of business management |
Focus on practical knowledge and industrial orientation |
|
Peer Group |
A PGDM program is preferred and opted for by many working professionals looking to get ahead in their careers. |
An MBA degree is also opted for by many working professionals. However, there are a lot more fresh graduates |
|
Affordability |
More Affordable |
Expensive |
|
Teaching Methodology |
A PGDM program provides room for more application-based learning in classrooms |
An MBA program is more focused on theory-based learning approaches. |
|
Specializations |
Sales and Marketing , Operations , Finance, Human Resources, Digital Marketing, etc. |
IT, Operations Management, Business Analytics, Marketing, HR, etc. |
|
Top Job Profiles |
Finance Manager, Marketing Manager, Sales Manager, Project Manager, etc. |
HR Recruiters, Sales Manager, Public Relations Manager, Research Analyst etc. |
|
Top Recruiters |
Boston Consulting Group, Mckinsey, Bain & Co, Morgan Stanley, Citibank, JP Morgan Chase, Amazon, Facebook, Google, Adobe, etc. |
HDFC Bank, Dell, Myntra, Amazon, Lifestyle etc. |
|
Top Colleges |
IIM Ahmedabad, IIM Bangalore, IIM Calcutta, IIM Lucknow, IIM Indore, IIM Kozhikode, etc. |
IIM Indore, IIM Calcutta, XLRI Jamshedpur, etc. |
Top Colleges Offering MBA/ PGDM
Let’s now look at some of the top colleges providing MBA and PGDM courses in India:
|
Colleges |
Average/Mean/Median Salary |
Tuition Fees |
|
IIM Ahmedabad |
INR 25,83,126 |
INR 23,00,000 |
|
IIM Bangalore |
INR 24,54,000 |
INR 23,00,000 |
|
IIM Calcutta |
INR 27,90,000 |
INR 27,00,000 |
|
IIM Indore |
INR 20,79,000 |
INR 16,00,000 |
|
FMS Delhi |
INR 23,20,000 |
INR 1,92,000 |
|
IIFT Delhi |
INR 18,00,000 |
INR 17,25,000 |
|
NMIMS School of Business |
INR 17,79,000 |
INR 19,76,000 |
|
IIT Kharagpur |
INR 16,11,000 |
INR 9,00,000 |
|
DoMS IIT Delhi |
INR 18,47,000 |
INR 9,60,000 |
|
SIBM Pune |
INR 20,14,000 |
INR 18,80,000 |
|
XLRI Xavier School of Management |
INR 24,30,000 |
INR 20,00,000 |
|
SPJIMR Mumbai |
INR 22,00,000 |
INR 17,50,000 |
|
NMIMS School of Business Management |
INR 10,50,000 |
INR 19,76,000 |
|
IMT Ghaziabad |
INR 13,60,000 |
INR 18,30,000 |
|
IMI Delhi – International Management Institute |
INR 13,07,000 |
INR 13,16,000 |
|
TAPMI Manipal – T A Pai Management Institute |
INR 11,06,000 |
INR 14,60,000 |
|
Great Lakes Institute of Management |
INR 13,10,000 |
INR 10,10,000 |
|
IIM Ranchi |
INR 15,02,000 |
INR 15,00,000 |
|
XIME |
INR 7,04,000 |
INR 10,00,000 |
Frequently Asked Questions
Q: What are MBA and PGDM?
A: Both MBA (Master of Business Administration) and PGDM (Post Graduate Diploma in Management) are postgraduate programs that equip students with the knowledge and skills needed for successful business careers.
Q: What's the main difference between MBA and PGDM?
A: The key difference lies in the type of qualification awarded:
- MBA: A degree program offered by universities or colleges affiliated with universities. Awarded by the university itself.
- PGDM: A diploma program offered by autonomous business schools or institutes. Awarded by the institute itself.
Ques: Does this difference in qualification matter?
Ans: In most cases, for employers, the value of an MBA and a PGDM is quite similar. Both programs provide a strong foundation in business fundamentals. However, some factors might influence your choice:
- University preference: If you desire a degree from a prestigious university, an MBA might be the better option.
- Curriculum focus: Some PGDM programs might offer a more industry-oriented curriculum compared to an MBA program at a university.
- Recognition for specific careers: Certain professional bodies might have specific requirements (MBA vs. PGDM) for qualification purposes. It's best to check with the relevant body for their stance.
Ques: Are there any other differences between MBA and PGDM programs?
Ans: Yes, there can be some variations:
- Curriculum structure: MBA programs might have a more standardized curriculum, while PGDM programs might offer more flexibility and adapt to industry trends quicker.
- Duration: Typically, both programs are two years full-time. However, there might be variations, with some Executive MBA programs being shorter.
Ques: How do I decide between an MBA and a PGDM?
Ans: Consider your priorities:
a. University affiliation vs. Industry-focused curriculum
b. Preference for a degree vs. a diploma
c. Program structure and flexibility
d. Specific career requirements
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