Most aspiring managers who want to pursue management studies
to give a boost to their careers are very often a confused lot. They want to
get the maximum return on their fees and hence do everything it takes to get a
degree from one of the renowned B-Schools of the country. In an attempt to make
it to IIMs, XLRI or Symbiosis, these students are willing to spend as
much time and money as required. They join coaching classes, take practice
exams and have mock interviews to make it to the best of the lot.
However, one thing that really confuses them is to go for a MBA from
a recognized university or PGDM (Post Graduate Diploma in Management)
from IIMs. Let us help you understand the basic difference between the two in India- :
1) Only universities can offer MBA: In India only
those management institutes which are affiliated to a university can offer an MBA degree.
For this reason institutes like Department of Management Sciences (PUMBA), University
of Pune , Jamnalal Bajaj Institute
of Management Studies or Faculty of Management Studies can offer MBA degree,
as they are affiliated with Pune, Mumbai and Delhi
University respectively. Also IIMs,
though being the best of the lot, can’t offer MBAs as they are not affiliated
with any university. Institutes which are not affiliated to university are
autonomous and can offer PGDM (Post Graduate Diploma in Management)
degree. However, some of these programs are approved by regulatory bodies such
as AICTE.
2) Difference in focus of curriculum: While there are
huge similarities in the curriculum of both MBA and PGDM, there are
finer points of difference. While MBA focuses more on theoretical
aspects of management and is more exam-oriented, PGDM has a focus on
building soft skills and is industry-oriented. It prepares you for the job
market.
3) Curriculum of PGDM is flexible: Since an
autonomous institute does not have to follow university standards, it is free
to change its curriculum according to industry standards and change in business
environment. Also a PGDM gives you an industry exposure. Whereas it will
take time to change the curriculum for MBAs as it is affiliated with a
university and it will essentially follow the university guidelines and
changing this curriculum is a very slow process.
4) MBAs are more affordable: In compared to PGDM,
generally MBAs are more affordable as the fees is almost similar to university
standard. You can get a rough idea if you compared the fees of IIM and FMS.
5) Difference in focus: An MBA will help in
developing technical skills and business knowledge whereas
a PGDM will prepare graduates for senior level
positions in industry and paves the way for a strong corporate career. Hence,
if you’re looking for a career in the challenging area of management, you
should go for PGDM.
However, one should remember that it is not important
whether a student pursues PGDM or MBA. The institution where he
is studying is of supreme importance and enhances their employability. If you
pursue your management studies from a reputed college which is recognized and
offers decent placements, then your chances of employment and going abroad get
enhanced.
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