What Do You Wanna Do, MBA Or PGDM?
So you vacillate between MBA and PGDM? Not just you but there are millions who do not know the nuances of MBA and PGDM. It simply leaves one in ambiguity which paralyzes them not to know what to choose, MBA or PGDM. Here, let’s see the difference between them.
MBA is an acronym for Master of Business Administration, a postgraduate degree. In the US, it is offered both on university schools and individual institutions like MIT. It’s the same in the Great Britain. But in India, unlike these countries, an MBA is offered in Universities and the affiliated schools and colleges. And it requires to comply to the law of the land which says, “only universities and their affiliates shall award a degree”. In fact, even affiliates get a degree award from a university.
Then, what about institutions which are not affiliated to any university but want to offer management education? The solution comes through PGDM, which expands to Post Graduate Diploma in Management. Any autonomous institution can offer PGDM course. Here, diploma doesn’t mean that PGDM is less to MBA. It’s just playing with words and alternative to the word degree to avoid confrontation with the law of the land.
In India there are scores of autonomous institutions some of which are prestigious like IIMs, ISB, XLRI, and the list goes on. All these institutions offer PGDM course. And, what about accreditation authorities like the AICTE? Well, its role is limited to advisory part as per the ruling of the Hon’ble Supreme Court of India. That’s why ISB courses have no accreditation from the AICTE.
Then, which one is better MBA or PGDM ?
Each has its own pros and cons. Since MBA degree is from a university you take advantage of that factor. The fees are relatively cheap and with a little budget you can finish MBA. But it has drawback. It’s not possible to change syllabus as and when required. It takes at least 3 to 5 years considering the factors like change of books, faculty training, infrastructure, and so on.
In contrast, PGDM is flexible and highly industry oriented. That is institutions can make their curriculum suitable to industry needs. Hence professionals who take their courses are up to date with latest industry trends. But the drawback here is that the course is rather expensive. Once you finish it, you will see the returns on your investment in the course.
Therefore, it is better to ask yourself where to study, in a university or an autonomous institution, and how you can finance it. And the rest, you automatically get a meaningful picture.