Big differences between MBA and PGDM: Though both of the courses impart information primarily based totally on the equal topic, that is, business, each takes a unique method towards it and thus a number of variations among the 2 courses may be observed. The college students have to select among the 2, in keeping with their preferences and according to what fits their needs. The variations are mentioned below:
1. Form of the Course:-
MBA is a degree course, presented by universities that are UGC affiliated, while PGDM is a diploma course presented by private business institutions. While MBA has a greater theoretical method for the topic, PGDM Course (Degree) gives a greater realistic approach
2. Chances of Fraud:-
Many a time it happens, that numerous self-sufficient small institutions claim that they provide PGDM courses, without making the right lodging for the same. Thus the students have the chance to be afflicted by fraudulence. On the opposite hand, MBA publications are often offered by renowned universities, and for this reason, the possibilities of fraudulence are relatively less. One aspect to keep away from that is to test for accreditation from approved signatories and bodies governing the instructional regulation.
3. Curriculum
As the MBA syllabus is mostly decided by the university, it could be taken that the syllabus and the curriculum for the course, in colleges below the same university, might be identical, and the syllabus stays the same for plenty of years. The syllabus nearly remains identical for 3-7 years. In PGDM however, the syllabus and curriculum are determined by the individual institutions/colleges, and for this reason, no 2 colleges have the exact same PGDM syllabus. Moreover, the syllabus is a subject to change every industrial year, in step with the decision of the college.
4. Admission through Entrance Exams:-
Both the programs accept scores on exams like CAT, MAT, ZAT, etc. Universities offering MBAs additionally accept rankings from state-level examinations. PGDM institutions, not like MBA, do not have any unique cut-off, however, the choice relies upon elements inclusive beyond educational overall performance and achievements, aside from the check score.
5. Duration of the Course:-
Both the courses have a duration of two years, however, MBA follows a semester pattern, even as PGDM follows a trimester pattern.
6. Aim:-
Although the core topics are nearly the same, the technique is different. PGDM from a very good institution teaches the students a variety of different matters from outdoor the book. The syllabus includes case studies, films from the field, and cutting-edge developments, to provide an explanation for the concepts more in reality to the students. Various workshops and extra-curricular sports organized with the aid of using the students assist them to vitalize their analytical competencies, managerial skills, and management qualities, which are wanted for the vital positions in the field. Whereas, MBA consciousness is greater on books.
7. Cost of Pursuing (Fees and Return on Investment):-
MBA guides have relatively lower prices than PGDM. The universities acquire resources from the government, and as a consequence, the students should bear fewer prices. However, the private colleges providing MBA courses, charge lots higher. While thinking about the fees criteria, college students have to think about the overall return on funding on both those courses, which means getting higher information on which course will fast cover the fees paid via common revenue and the time involved, which could work better in long term.
8. Average salary after the course (beginning):-
It has been observed that students with a PGDM diploma have a better-paying salary than college students with MBA. The starting salary for MBA graduates is Rs 7-10 lakhs per year, while the common starting profits for PGDM graduates is Rupees 12 -15 lakhs per annum.
9. Career opportunities:-
After finishing an MBA one could work as an HR Manager, Business Analyst, Marketing Manager, Finance Advisor, Investment Banker, etc., and after finishing a PGDM course, one could work as a Project Manager, Data Scientist, Auditor, Tax Specialist, Consultant, etc.
10. Modernised Curriculum:-
During the selection of curriculum/syllabus for PGDM courses, the authority seeks recommendations from industry professionals to design a course high-quality desirable for the industry, which isn’t the case in MBA.
Which should one go for— MBA or PGDM?
According to the modern-day condition, it is going to be greater advantageous for the students to choose PGDM courses, because the course is centered on practical training and is greater industry-relevant, in line with the modern-day job market. As the syllabus is custom-designed each year, there may be an opportunity that the student will learn and gain experience with a greater diversity of business concepts than an MBA. Also, PGDM prepares you for dealing with real-existence field challenges through its out-of-the-book coaching methodology, not like MBA. However, if there are concerns concerning the commonly excessive fees of management programs, one should select MBA.