All students start looking for the next step in their careers at the start of the academic year. What course would be better to start my career? Which college will be more constructive for my future?
MBA is the preferred course for many graduates. It is also in demand as corporates start looking for recruitments. Any person in any industry can do MBA. It is that course which gives a booster to a person’s career interested in management.
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Many people do not know the equivalent course of the MBA: that is PGDM. PGDM stands for the Postgraduate Diploma in Management. It is the analogous course of MBA, which is more market-centric than MBA. Devised according to the current trends in the corporate sector. The only significant difference between MBA and PGDM is that the MBA is a degree awarded by the universities and PGDM is awarded by any autonomous body approved by AICTE and Ministry of HRD, Govt. of India.
MBA colleges come under the governance of the university. The institutions recognized by AICTE awards PGDM certificates. Both are recognized by the government, but the course structure, syllabus, and education system are different. The concerned institute rather than AICTE governs PGDM. The university, which the college affiliates to regulates its MBA syllabus.
Here are some pros and cons of both MBA and PGDM for you to take a wise decision based on your career goals and interest.
PROS OF PGDM:
MARKET CENTRIC: PGDM is market-centric. Education follows the current market demands. Institutes like Siva Sivani Institute of Management update their syllabus according to market demands. The main aim of PGDM is to make a person capable. And up to date with the market trends in the corporate sector.
PREFERRED BY CORPORATES: As it is market-centric, many corporates prefer students having PGDM over MBA. The skill of PGDM students in accordance with market trends is more than a regular MBA’s. Hence the preference from corporates.
AWARDED BY ALL PREMIER B SCHOOLS: All the premier B schools like IIM, ISB.IPE, Siva Sivani Institute of Management provides students with PGDM certificates. A PGDM certificate from a premier institute holds more reverence than an MBA from a regular university. Elite institutions have tie-ups with universities abroad. They have successful student exchange programs and credit transfer options. It provides greater exposure to the students making them market-ready.
GOOD PLACEMENTS: PGDM candidates have excellent placement opportunities with major multinational companies. Salaries offered to them are higher than other candidates with similar degrees.
MARKET EXPOSURE: PGDM offers you market exposure which an ordinary MBA cannot. Guest lectures from experienced industry leaders also add the edge to the course.
CONS OF PGDM:
IT’S A DIPLOMA: PGDM with all its benefits is a diploma. Candidates who want a proper degree may not consider PGDM. It is associated with AICTE and not with the universities.
NOT SUITABLE FOR ACADEMICS: As it is a diploma; it will be challenging to become an academician. People who aspire to make their careers in academics should prefer MBA. MBA has a legacy as it exists for 60 years, whereas PGDM is its newer counterpart. Colleges don’t prefer PGDM for their academic posts.
HIGHER COST: PGDM from premier institutes is expensive.
PROS OF MBA:
DEGREE: it is a proper post-graduation degree awarded by the colleges. They are university-affiliated. Sometimes having an adequate degree helps. It will be easier to enter academics. Companies sometimes prefer MBA degree holders only for specific positions.
UNIVERSAL VALIDITY: MBA is valid all over the world. Universities abroad grant an MBA title to a management graduate rather than PGDM. For higher studies and job prospects as an MBA are universally recognized.
CHEAPER: it is inexpensive compared to PGDM. Many government colleges also provide MBA at a little cost. MBA colleges are more in number. Hence the fees are less. The government also regulates it. But the quality and faculty of the college matter rather than only costs.
CONS OF MBA:
AGE-OLD SYLLABUS: The universities construct MBA syllabus. It hasn’t changed for many years. It doesn’t teach the current trends in the market. It is more theory-based than practical. Hence the candidate may lag behind his PGDM counterparts in market value.
MEDIOCRE PROGRAMS: As many colleges offer MBA. The quality of education may vary. Getting an MBA degree from any college will not suffice for scoring a high paying job. Not all institutes offer campus placements for their MBA graduates.
LOW PAYING JOBS: As the quality of the MBA education is not regulated. It leads to students being offered low paying jobs even from the top corporates. There is no job guarantee after MBA.
NOT OFFERED BY TOP B SCHOOLS: Top B schools do not offer an MBA. ISB, the B school ranked 7th in the world and 1st in Asia doesn’t offer an MBA. Not only ISB but other premier institutions like Wharton’s. Indian public enterprise, Siva Sivani Institute of management offers PGDM. They always secure 100% placements from top companies for their students.
NO MARKET EXPOSURE: MBA syllabus lags in following current market trends. There is a minimum to no market exposure to the students. It becomes a great hindrance in finding high paying jobs for themselves.