MBA Vs PGDM - Difference Between MBA and PGDM, Know Career Scope and Salary

MBA Vs PGDM is the most common comparison made by students wishing to pursue postgraduate courses. Which is better, MBA or PGDM? There is not much difference between the two courses. In terms of employment, both are valued almost equally. Around 10,000+ MBA and PGDM students from IIMs get excellent placements annually along with other top MBA colleges in India like SPJIMR, FMS, IIFT, MDI, etc. Continue reading this article to know an in-depth comparison between MBA and PGDM courses.

MBA Vs PGDM

The MBA Vs PGDM comparison can be made by stating that both the courses are similar as both are management courses. MBA is an old version of the management programme and PGDM is the new 2-year management programme. PGDM full form is post graduate diploma in management. MBA course curriculum mostly focuses on theory-based knowledge but PGDM courses are more practical and industry relevant.

What is MBA?

MBA full form is master of business administration. It is a postgraduate degree course and it is the most sought-after degree. MBA degrees can only be offered by universities affiliated with universities like the Faculty of Management Studies affiliated to Delhi University or the Jamnalal Bajaj Institute of Management Studies (JBIMS) affiliated to the University of Bombay etc. The duration of MBA degree course is 2 years and it gives an edge in lucrative roles in the career. Eligibility is 10+2+3 or 10+2+4 under any discipline with at least 50% aggregate marks. The entrance examinations a student can give to get admission in an MBA course include the likes of CAT, CMAT, XAT, MAT, ATMA, and GMAT. It is aimed to develop business tactics, theoretical concepts that run the business world and technical knowledge essential for the aspirants.

MBA enhances business and entrepreneurship skills with global employment opportunities right around the corner. The course norms and curriculum remains the same and does not vary from one institute to another without the consent of the university. A student can get some relaxation in the fees by applying for scholarships up to 100% during admission based on entrance exam score, past academic performance or even good scores during the term of the program.

However, types of MBA course list and details provide a long list of specializations so that aspirants can go by their requirements. With the freedom of choice, the list of specializations also gives rise to a lot of confusion among aspirants. However, one should analyze the options with respect to their interest and skills to have a bright career after MBA.

1. General Management

One of the most popular specialized MBA courses include MBA in General Management. From Human Resources and marketing to UX and marketing to systems, this specialization can be an umbrella course to hone the required skills. Basically, it teaches an aspirant about a variety of perspectives and management skills to be implemented in any organization.

Also read: Career as Manager

2. International Management

An MBA in international business is extremely important to prepare the young minds to do business all over the world. A specialized MBA course can be done in International Management to work abroad post-graduation. It is the perfect choice for students who aspire to work at multinational companies. This course teaches the critical skills like strategy, finance, operations, etc., in the international context.

Also read: Career as Accountant

3. Strategy

Strategy plays an important role when it comes to business. Therefore, there is a specialized program that focuses on that essential element of the corporate world. It is an MBA in Strategy. This popular specialized MBA program offers insights to the aspirants for making successful business decisions and understand the strategies behind them. This course talks about risk management, business development, consulting and planning skills that can be applied across different industries in the future.

4. Consulting

In the business world, yet another popularly sought-after skill is what is taught under a specialized MBA in consulting program. It is yet another sought-after skill in the world of business. This course aims to teach students how to manage their companies more successfully and empower the students to enter a lucrative industry.

Also read: Career as Certified Management Accountant

5. Finance Leadership

Pursuing MBA finance is also a popular choice among the aspirants. The business students who focus on the banking and finance part of the business world should go for an MBA in Finance Leadership specialized course. This course specializes in finance and gives rise to successful financial controllers, high-level bankers, chief financial officers and the finance managers in the business world. It aims to teach analytics, statistics, accounting and other elements of business to hone the skills of future business finance leaders.

Also read: Career as Financial Planner

7. Entrepreneurship

Entrepreneurship is the most-wanted career option among the youngsters. However, it is not a piece-of-cake to get your startup off the ground. This is where specialized MBA courses in entrepreneurship swoop in to provide the required skills. This course teaches future entrepreneurs how to secure funding, pitch ideas, develop business and learn critical business management.

Also read: Career as Entrepreneur

7. Marketing

Business students who have a knack for advertising and marketing should go for specialized MBA Marketing course. Promoting services and products is taught to business students as it is a critical skill to successfully sell your idea to a customer in business. The skills that play a crucial role in marketing and sales like promotion of products, designing marketing campaigns and communicating with customers are taught in this course.

Also read:

• Career as Marketing Manager
• Career as Brand Manager
• Career as Sales Manager
• Career as Financial Advisor
• Career as Purchasing manager

8. Operations Management

Students who are inclined towards logistics or supply chain management should go for this specialized course. Specialized MBA in Operations Management focuses on managing, planning and organizing production to improve efficiency.

9. IT or Technology Management

Those who wish to learn the cutting edge of UX, designing and flow of IT should go for this specialization. A specialized MBA course in Technology Management or IT teaches students about the technological aspect of business. It draws the aspirants interested in learning how data travels between companies around the world.

10. HR or Human Resources

An MBA in HR focuses on management, recruitment and providing guidance and direction to the members of the organization. This course is aimed to offer knowledge and training of managing the organization workforce.

A full-time course is preferred and advised but students can also enroll themselves in distance learning MBA courses.

Also read: Career as Human Resource Manager

What is PGDM?

If you see your future in the corporate world or want to become an entrepreneur, going for a PGDM course is the best option. But what is PGDM?Postgraduate Diploma in Management or PGDM course is of duration of 1 or 2 years. The eligibility criteria include 10+2+3 in any discipline from the recognized university with a 50% minimum aggregate. One can even go for PGDM distance education learning instead of full-time as per convenience. A lot of people feel that this course is not valuable but it is not true. It leads to many employment roles like Sales Managers. Chief Executives, Marketing Manager, Operations Manager and many more.

The PGDM course is recognized by AICTE or All India Council for Technical Education. The institutes providing this course are autonomous and not affiliated by any university. Thus, some institutes offer admission on the basis of entrance exam score while others conduct their own entrance exams. The curriculum is primarily focused on teaching practicality of the business world to aspirants. The syllabus focuses on conceptual knowledge designed to hone soft skills in the students and make them industry-oriented. The top colleges providing PGDM courses are IIM Bangalore, Faculty of Management Studies Delhi and others.

Just like MBA, PGDM also provides following specializations with abundant scope in each one of them:

1. PGDM in Marketing

This course is aimed to teach the business students about various marketing activities of an enterprise. It includes teaching about product development, sales and distribution, brand development and market research.

2. PGDM in banking and finance

This course is aimed to teach about the dynamics of the business world i.e. finance, because everything revolves around it. This diploma course helps in dealing with the understanding of the financial needs of an organization like market structure, banking, economics and accounting, etc. It is the right choice for those who are inclined towards the finance part of a business.

3. PGDM in supply chain management

This diploma course strives to master the students in SCM and distinguish them as industry experts with specialized knowledge about demand forecasting, company logistics, warehousing, inventory management and others. It leads to the jobs of inventory analyst, logistics technician, raw material specialists etc.

Also read: Career as Supply Chain Manager

4. PGDM in hospitality and tourism

It is a fast growing sector that demands for professionals. PGDM in hotel management course develops the skills related to beverage and food preparation, management of personnel and resources and handling hotel operations. Students who have a knack for the hospitality industry should go for it. On the other hand, PGDM in tourism management helps students hone the skills to secure a position in the booming tourism industry. The luxury hotels and tourism development keeps the job opportunities open in both these sectors.

Other PGDM diploma courses specializations are IT, HR, Operation Management, Retail Management, International business etc.

Also read: Career as Travel Agent

MBA Vs PGDM - Comparison

MBA Vs PGDM - Which is Better?

After knowing about the curriculum, eligibility, specializations and other details of both the courses, It narrows down to one question. Is PGDM better than MBA? And the answer lies with your interest and career goals. Both the courses have their respective scopes and are in insatiable demand in the field. Despite the PGDM & MBA differences, both courses have a common major influencing factor and that is the institute you choose.

Evaluating the pros and cons is the key to choose the right option that suits your needs. However, the best course that gives you a leg up in career is the one that arouses interest in you. The ultimate aim of both the courses is to make you student ready for the management industry. Analyze your strengths and interests. Choose the course where you see yourself honing your skills and proceeding in the right direction to your dream career.

MBA Vs PGDM - Differentiation