MBA and PGDM courses do have equal value when it comes to career prospects. Having a PG diploma instead of a degree is certainly not considered to be a drawback. In fact, it’s the reputation of the university or institute and your capabilities matters the most for your professional career.
MBA: Stands for Master of Business Administration.
PGDM: Stands for Post Graduate Diploma in Management.
MBA: Master of Business Administration (MBA) is a degree course offered by the colleges affiliated to the universities. So, only universities can offer MBA programmes.
PGDM: A Post Graduate Diploma in Management (PGDM) is a diploma course offered by the institutes that are recognized by the All India Council for Technical Education (AICTE) and which are autonomous and not affiliated to any university.
MBA and PGDM courses do have equal value when it comes to career prospects. Having a PG diploma instead of a degree is certainly not considered to be a drawback. The value of an MBA and PGDM is determined on the basis of certain factors such as the quality of the course curriculum, pedagogy, and the institute’s ranking and repute.
Curriculum followed:
A student pursuing an MBA will spend more time studying management theory. An MBA institute will adhere to a set curriculum based on university guidelines.
As an independent institute is not bound by university norms, it is free to adapt its curriculum in response to industry requirements and changes in the business environment.
Famous MBA institutes in India:
- Faculty of Management Studies, University of Delhi, Delhi
- SIBM (Symbiosis Institute of Business Management), Pune
- NMIMS (Narsee Monjee Institute of Management Studies ), Mumbai
- IIFT (Indian Institute of Foreign Trade)
- JBIMS (Jamnalal Bajaj Institute of Management Studies), Mumbai
- IMNU (Institute of Management, Nirma University)
Famous PGDM institutes in India:
- IIMs (Indian Institute of Management)
- XLRI (Xavier School of Management), Jamshedpur
- SP Jain Institute of Management and Research, Mumbai
- NMIMS (Banglore/Hyderabad)
MBA or PGDM: How should you decide
Here is how you can decide between the two:
• Decide your MBA Goals: If you want to work in the corporate sector, a PGDM or MBA will not help you. What is important is the institution you choose. As a result, the most important aspects of a B-school are its faculty, curriculum, and industry integration. However, if you want to get another academic qualification at a low cost, an MBA is a good option.
• Decide your MBA Budget: This is a critical factor to consider because MBA tuition at FMS Delhi ranges from Rs. 25,000 to Rs. 21 lakhs at IIM Ahmedabad. Without a doubt, financial support in the form of study loans is accessible from all banks and financial institutions in India to complete the MBA programme. You need to weigh all the pros and cons based on the fee structure and your financial ability.
Since it is not possible for everyone to score 99+ on the CAT and be one of the lucky 200 candidates to be admitted to the MBA programme at FMS, Delhi, there are good MBA colleges in Delhi, Mumbai, Pune, Bangalore, Chennai, and Ahmedabad with low fee structures ranging from 2 to 10 lakhs where you can pursue your MBA/PGDM. However, before proceeding, you should consider the return on investment that you will receive after completing your MBA.
How to choose a B-school
While this article is about an MBA or PGDM, following are the key parameters to choose the right B-school or College:
1. Placement record
2. Ranking of the B-school
3. Legacy & Reputation of the B-school
4. The fee of the B-school
5. Student-faculty ratio
6. Quality of peers/students joining the MBA/PGDM Program
7. Location of the B-school
