What should I do – MBA or PGDM? This is common dilemma faced by the students after completing their graduation. Budding aspirants who are looking towards completing a management education degree are often unsure about the differences between these two courses and to what extent these affect their future job prospects. In order to solve this confusion related to the difference between PGDM and MBA we have listed some key points of difference between the two to help you arrive at the right decision.
What are the differences between MBA and PGDM?
Only universities could teach MBA and award degree to the students. It can be Indian university or foreign university. On the other hand, when a college secures autonomy (meaning it is not affiliated to any university), then it designs its own curriculum and courses to be taught instead of following outdated University syllabus. Such institutes can’t offer MBA degree, rather they offer PGDM diploma course. However, their PGDM programs are usually approved by the government regulatory bodies like AICTE and UGC as such colleges meet certain quality standards and maintain them year after year. They also have highly qualified faculties to teach this course. Institutes like IIMs, though being one of the best management institutes, can’t provide MBA degrees as they are not approved by any University. There are several more differences between PGDM and MBA, which are discussed below:
- MBA program is affordable – Compared to PGDM, MBA is much more affordable as its fee is at par with other post graduate university courses.
- Difference in focus – An MBA program helps you in developing business knowledge and technical skills, whereas a PGDM course will prepare the participants for top-level positions in industry and leads the way for a powerful corporate career.
- Curriculum of PGDM is more flexible – Since an autonomous PGDM college does not have to follow university rules, regulations and standards, it is free to change and update its curriculum regularly according to the changes in the business environment and industry standards. On the other hand, it takes a lot of time to change the curriculum for MBA programs as these courses are affiliated with a university and colleges offering MBA essentially have to follow the university guidelines. So, changing the curriculum of MBA programs is a slow process.
- Difference in focus of curriculum – While there are many similarities in the curriculum of both, there are some finer points of difference between PGDM and MBA. While PGDM course has a high focus on building soft skills and it is more industry-oriented, MBA puts more focus on theoretical aspects of business management and is more exam-oriented.