Often MBA aspirants get perplexed between MBA and PGDM and usually find it difficult to choose between the two programs. Here in this blog we will clarify you the difference between these two management programs.
MBA Vs PGDM
What do MBA and PGDM stand for? MBA (Master of Business Administration) is a degree, while PGDM (Post Graduate Diploma in Management) is a diploma program. As per the standards of the UGC, Colleges/Institutes affiliated to a university can offer MBA degrees. The autonomous/private Business Schools which are not affiliated to any university can offer the Post Graduate Diploma in Management (PGDM) programs. As such, there is no vast difference in what is being taught in PGDM and MBA.
However, the autonomous business schools frequently change the syllabus to meet the industry standards. A syllabus change in an MBA program is rare since the college offering the program has no authority to change the syllabus. Before you make a decision, you should also note that MBA programs are much affordable than PGDM programmes.
Advantages of Autonomy
When an Institute secures autonomy, they design their own curriculum to be taught instead of following out-of-date University syllabus. It is outdated syllabus because the syllabus change at University level happens once in either 3 or 5 years. Technically, syllabus change affects university affiliating colleges, the books needs to be revised and the faculty needs to upgrade themselves. Where as in PGDM courses, since the colleges have autonomy, the curriculum is updated regularly depending on the current need in the Industry. Hence, one can say that PGDM courses are more Industry relevant, up to date as compared to MBA courses. However University MBA Programmes too are of importance, it totally depends on the University one wishes to do MBA.
There is common perception that MBA degree being masters is acknowledged in the market. This is because some of the corporate recruiters favor an MBA over a PGDM. But the reputation of a degree cannot be considered in isolation. The reputation of the school plays a big role in deciding whether PGDM is as popular as MBA. For example Suryadatta is ranked 7th in Top Outstanding B-School of Excellence in India by CSR-GHRDC Survey November 2016.
Hence, if you wish to pursue PhD after MBA, you must make sure that you have either an MBA degree or a PGDM from AICTE approved institutions. If you wish to do PhD abroad, it is always better to complete an MBA degree from a reputed college or university.
Therefore, whether you do an MBA or a PGDM, you will be entitled to the same benefits. Make sure you choose your college/business school carefully and you go through the syllabus of various institutions before you make a decision.