Most fresh graduates who want to pursue higher studies are often confused between PGDM (Post Graduate Diploma in Management) and MBA (Master of Business Administration). Some even think that they are the same degree but with different names. This blog post has been written to clear this confusion and help you to decide which one is better.
PGDM (Post Graduate Diploma in Management):-
This is a post graduate course that is offered by autonomous colleges or institutes. These are not affiliated to any university. It is therefore called “Diploma” and not MBA because MBA can only be offered by colleges that are affiliated to University. One of the famous examples of such institutes is the IIMs.
The syllabus of Post Graduate Diploma in Management is more practical or industry focused as compared to MBA which is more theoretical. The curriculum of this post graduation is bound to change from time to time. This equips the students with latest trends in their fields. Unlike MBA, the PGDM lets you specialize in your area of interest.
The advantage of doing a PGDM from IIM is that most B schools from US will prefer it over an MBA. One drawback of this course is that you need to do it from a very reputed college or institute if you plan to do Ph.D. Otherwise you will need to have an MBA degree to do a Ph.D from an Indian university.
Some of the most popular PGDM colleges are SP Jain, IIM, National School of Business (NSB), Xavier Institute of Management.
MBA (Master in Business Administration):-
MBA is a post graduation course offered by only those colleges that are affiliated to universities. This degree focuses more on theoretical aspect of a business such as finance, operations, HR.
The benefit of doing an MBA is that you can do a Ph.D without having to worry about the reputation of the college. Still in today’s world of brand and hype, companies prefer students from reputed colleges.
One of the disadvantages of MBA is that its curriculum does not change over a period of time as compared to PGDM. Also the students get only bookish knowledge rather than a practical insight. Also most of the B schools in US prefer PGDM graduate for admissions over an MBA graduate.
The list of top MBA colleges in India includes names such as Narsee Monjee Institute of Management Studies (NMIMS), Jamnalal Bajaj Institute of Management Studies, National Institute of Technology (NIT)-Rourkela.
Now that you know the basic difference between PGDM and MBA, it is time you decide which is the most suitable option for you. But do not make a hurried decision. Take your time.