[vc_row][vc_column][vc_column_text] [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]An MBA (Master of Business Administration) and PGDM (Post Graduate Diploma in Management) are two of the most popular management programs in India. With the rising demand for management graduates, these programs have gained tremendous popularity over the past few decades.
But, students are still confused when it comes to choosing one of them. While MBA and PGDM programs have a lot of similarities, there are some key differences that students should be aware of before applying to these courses. Rozgakhoj makes an attempt to compare MBA and PGDM on various parameters to help you make an informed decision.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]
MBA vs PGDM: Eligibility
The eligibility criteria for MBA and PGDM programs is quite similar.
For MBA, you need a Bachelor’s degree (3 years) in any discipline from a recognized university with minimum 50% marks.
However, for PGDM, you need a Bachelor’s degree (3 years) in any discipline from a recognized university. However, unlike MBA the minimum percentage required may vary across institutes.
Work experience is not mandatory for both MBA and PGDM but having relevant work experience can help during the admission process in reputed colleges.[/vc_column_text][vc_single_image image=”2876″ img_size=”900*600″][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]
MBA vs PGDM: Affiliation and Accreditations
One of the major differences between MBA and PGDM is in terms of their affiliations and accreditations.
MBA degree is affiliated to universities approved by UGC and AICTE. MBA programs have to follow the curriculum and standards set by these regulatory bodies.
PGDM is affiliated to the respective institute and not universities. PGDM institutes are approved by AICTE but can design their own curriculum and structure.
MBA degrees have better credibility as they are regulated and standardized. Leading PGDM institutes also have accreditations from international agencies like AMBA which lend them greater credibility.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]
MBA vs PGDM: Admission and Entrance Exam
The admission process for both MBA and PGDM is quite similar with minor differences.
For MBA, you need to appear for entrance exams like CAT, XAT, MAT, CMAT etc., followed by GD/PI rounds.
For PGDM, either CAT or institute-specific exams like NMAT, SNAP, IIFT etc., are required before GD/PI rounds.
Cut-offs for CAT exams are generally high for IIMs and top MBA colleges compared to other institutes. Application timelines are July-September for MBA and PGDM programs with results out by March-May.[/vc_column_text][vc_single_image image=”2828″ img_size=”900*600″][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]
MBA vs PGDM: Syllabus
The syllabus of both MBA and PGDM includes subjects like –
- Principles of Management
- Marketing Management
- Operations Management
- Finance Management
- Human Resource Management
- Economics
- Business Statistics
- Business Communication
However, MBA syllabus is standardised by UGC and AICTE while PGDM syllabus can differ across institutes. PGDM institutes have more flexibility in designing their programs, including electives.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_single_image image=”2886″ img_size=”900*600″][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]
MBA vs PGDM: Fees
The fees for MBA and PGDM programs vary vastly across institutes.
Top MBA institutes like IIMs charge fees between ₹10-23 lacs for their 2-year program. Other private MBA colleges can charge up to ₹15 lacs.
Leading PGDM institutes charge anywhere between ₹6-18 lacs for their 2-year program. Smaller PGDM institutes are more affordable with lower fees.
On an average, PGDM programs are priced lower than MBA programs across similar institutes. Scholarships are available for deserving MBA and PGDM candidates based on merit and diversity criteria.
MBA vs PGDM: Jobs and Salary
The job profiles and salary offered to MBA and PGDM graduates are largely similar.
Popular job roles include marketing, operations, finance, consulting, business development etc.
Average starting salary ranges between ₹8-15 lacs per annum for freshers from good institutes. With 8-10 years of experience, salaries can grow up to ₹30-40 lacs based on the candidate’s performance.
Top roles like investment banking, equity research can offer ₹15-20 lacs base pay for freshers. Salaries tend to be slightly higher for IIMs or top MBA graduates compared to PGDM passouts from smaller institutes.
MBA vs PGDM: Placements
In terms of placements and job opportunities, MBA and PGDM graduates are almost at par with minor variations.
IIMs and top-tier MBA institutes attract top recruiters like McKinsey, BCG, HUL, P&G, Amazon, Microsoft etc offering lucrative salaries of ₹20-25 lacs per annum.
Leading PGDM institutes attract companies like Deloitte, KPMG, PwC, Nielsen, Colgate etc with average salaries ranging ₹8-15 lacs per annum.
The top 10-20% students get good placement opportunities in both MBA and PGDM programs. Overall, IIMs and top 10 MBA colleges have a slight edge over PGDM institutes in terms of network and average salaries.
IIMs and top-tier MBA institutes attract top recruiters offering lucrative salaries of ₹20-25 lacs per annum. Leading PGDM institutes have widened their placement networks with average salaries ranging ₹8-15 lacs per annum.
MBA vs PGDM: Susceptible to Fraudulence
One important factor to consider is regulatory oversight on institutes.
MBA colleges require strict UGC or AICTE approvals subjected to quality norms and infrastructure standards. This reduces scope for low quality or fraudulent institutes.
Some smaller PGDM institutes may not have strong regulatory oversight.
Students should be cautious of institutes making fake promises or not having proper credentials. Stick to reputed PGDM institutes having AICTE approval and accreditations from international agencies.
Top Colleges Offering MBA or PGDM
Now that we have compared MBA and PGDM programs on various parameters, let’s look at some of the top institutes offering these management degrees –
Top MBA Colleges
- IIM Ahmedabad
- IIM Bangalore
- IIM Calcutta
- IIM Lucknow
- XLRI Jamshedpur
- FMS Delhi
- IIFT Delhi
- SPJIMR Mumbai
- MDI Gurgaon
- NMIMS Mumbai
Top PGDM Colleges
- IMT Ghaziabad
- IIFT Delhi
- MDI Gurgaon
- IMI Delhi
- SPJIMR Mumbai
- JBIMS Mumbai
- MICA Ahmedabad
- IIFM Bhopal
- Great Lakes Chennai
- Welingkar Mumbai
Conclusion
In conclusion, while MBA and PGDM are similar management degrees, there are notable differences in affiliation, flexibility, cost and focus. Students should carefully assess their career goals, budget and interests before choosing between MBA and PGDM programs. The top institutes for both degrees provide excellent opportunities to build a successful management career.[/vc_column_text][/vc_column][/vc_row]
