Management education has become very lucrative course and it is attracting best minds across the country and after researching throughout web, brochures and discussion forums, majority of management aspirants are struck with these basic questions:- Which one should I go for an MBA or a PGDM? What is the difference between these two? Which one has greater scope? A lot has been discussed and written about them in past, but confusion about what differentiates both from each other still persists among students. MBA or Master in Business Administration is a post graduate degree, which only a college affiliated to any University can offer. Additionally, they have to be approved by All India Council for Technical Education (AICTE) New Delhi, which regulates technical and management education in India. On the other hand PGDM or Post Graduate Diploma in Management is a post graduate diploma course, which any college can offer, if approved by AICTE. Institutes which are not affiliated to university are autonomous and can offer PGDM (Post Graduate Diploma in Management). Thus the basic difference is that MBA (Master of Business Administration) is offered by the universities, as per Indian Law, like several other courses B.Tech or BBA. Whereas the institutions that are not affiliated to universities, and are autonomous (self governing) offer PGDM (Post Graduate Diploma in Management).
Despite offering PGDM / PGP, autonomous colleges have their advantages Autonomous institutes may design their own curriculum to be taught and upgrade it regularly instead of following outdated University syllabus. Reason for university syllabus being outdated at times is that it changes once in three or five years; which certainly is a deterrent in Management arena, where the industry and technology is rapidly changing.
While one may say that PGDM courses are more Industry relevant, up to date as compared to MBA courses. Experts believe and the same opinion is shared by management students, that it does not really matter, whether one has done PGDM or MBA. The most important thing that a person should keep in mind is that of college. It has to be a college of repute. Thus before enrolling for any specific course, one must check the track record of various courses offered by that particular institute, talk to their alumni, their existing students and even administration including faculty to get an insider view of what actually happens inside college.
As whether that institute has an excellent faculty and infrastructure, needed for management education, about its placement record and its reliability and it’s all India ranking on different educational and career portals and magazines. Also it is important to consider that earlier PGDM was not recognized for higher studies like M.Phil or Ph.D that seeks a degree as a pre-requisie. But if an institute has an Association of Indian Universities (AIU) certificate than doing PGDM from that institute is equivalent to an MBA and a person can pursue for higher education also. However, when it comes to corporate scenario, both PGDM and MBA are equally recognized to have a successful and lucrative career prospects and it all depends on an individual’s capability and competency to pursue a particular course.