MBA stands for Master in Business Administration, is a degree course provided by a recognized university. On the other hand, Post Graduate Diploma in Management (PGDM) is a diploma program, provided by autonomous institutions and colleges, or deemed universities.
Nowadays, students are very much concerned about their career, as they want to pursue such a course which not only give a boost to their career but provides various opportunities to learn new skills. This lands an individual to a complicated situation; wherein they find difficult to choose among the professional courses, which suits their requirements.
MBA and PGDM are the two courses that imbibe entrepreneurial and managerial skills in the individual and often leads to a confusion of which one should be chosen over the other. This article sheds light on the differences between MBA and PGDM, take a read.
Content: MBA vs PGDM
|Basis for Comparison||MBA||PGDM|
|Expands to||Master in Business Administration.||Post Graduate Diploma in Management.|
|Meaning||An MBA is a programme offered by various universities to inculcate business and management knowledge, generally theoretical, in the students.||A PGDM is a course offered by AICTE approved institutes or the autonomous universities, to develop business or industrial skills in the students.|
|Course Type||Master Degree||Diploma Certificate|
|Offered By||University||Autonomous University or AICTE approved management institutes.|
|Fee Structure||Affordable||Comparatively high|
|Scope for further studies||After MBA, a person can pursue higher studies like Phd.||PGDM does not recognizes a person to pursue higher studies.|
|Curriculum focus||MBA focuses on developing technical skills and business knowledge.||PGDM is more industry oriented and thus it develops soft skills.|
Definition of MBA
MBA is an acronym for Master in Business Administration, is a degree course offered by various universities, in which students after their graduation, can take admission by giving an entrance exam i.e. CAT/ MAT/ GMAT, etc. It is an AICTE approved, and UGC recognized course which helps in developing an understanding of the business as well as management in students.
Thus, MBA helps in inculcating the technical skills and the business knowledge, generally theoretical, in the graduates. It is the most popular course worldwide and is recognized internationally.
Definition of PGDM
PGDM is an abbreviation for Post Graduate Diploma in Management, is a certified diploma course offered by several autonomous institutes (not affiliated to university) or universities, in which the students after their graduation can take admission either directly or through passing an entrance examination like CAT/ MAT/ GMAT etc. depending upon the policies of the institution.
It is an AICTE approved, and UGC recognized course which helps in developing the key skills and industrial techniques in students.
Thus, the PGDM program helps in preparing the graduates for the senior level positions in the industry.
Key Differences Between MBA and PGDM
- MBA stands for Master in Business Administration, and PGDM stands for Post Graduate Diploma in Management.
- MBA helps in developing knowledge mainly about business and management while PGDM helps in learning the key skills about the business or industry.
- MBA is a degree, whereas PGDM is a diploma.
- MBA is offered by University while an Autonomous University or AICTE approved institutes offers PGDM
- The curriculum of MBA is rigid because it is framed by the university and is changed once in 3 or 5 years. On the other hand, the curriculum of PGDM is flexible, as it can change its syllabus according to the industry standards and the business environment, that keeps on changing from time to time.
- When it comes to fees structure of the two courses, PGDM is more expensive than MBA.
- After completing MBA, one can apply for further studies like Doctorate of Philosophy (Ph.D.). PGDM, on the other hand, does not make a person eligible to pursue courses, whose first and foremost condition is master’s degree.
- MBA is focussed on developing technical skills and business knowledge. Conversely, PGDM is more industry oriented and thus it develops soft skills.
- Admission in the course after graduation.
- AICTE approved, and UGC recognized.
- Course duration is two years.
- Entrance exam.
- Learning about Business and Management Ethics.
The students who are confused over which course they shall opt for, can go through these differences and make their selection wise. MBA helps an individual to inculcate technical skills and business knowledge, mostly theoretical in nature, while the PGDM helps in developing the industrial skills and attaining the specialization in the subject of interest. MBA prepares you to acquire business knowledge and clear the exams, whereas the PGDM prepares you for the higher level positions in the industry.
Thus, there is a very thin line of difference between these two and must be chosen as per the requirements of the individual.