21,Nov 2023
If you are interested in pursuing a management course after graduation, you might have come across the term PGDM. But what does it mean and how is it different from an MBA? In this blog post, we will answer these questions and more.
PGDM stands for Post Graduate Diploma in Management. It is a two-year diploma program that offers practical knowledge of business management. PGDM is very similar to an MBA and both deal with management studies at the postgraduate level. However, there are some key differences between them.
PGDM is offered by autonomous B-Schools that are recognised by the All India Council for Technical Education (AICTE). These institutes are not affiliated to any university and have the freedom to design their own curriculum and pedagogy. PGDM programs are more industry-oriented and follow the current trends in the market. They also have more flexibility in terms of electives, specialisations, and evaluation methods.
MBA is offered by universities or colleges that are affiliated to University Grants Commission (UGC). The curriculum and pedagogy of MBA programs are decided by the university and are more theoretical and academic in nature. MBA programs have less flexibility in terms of electives, specialisations, and evaluation methods.
PGDM is equivalent to an MBA degree if the institute is accredited by the All India Council for Technical Education (AICTE). This means that PGDM graduates can pursue higher studies or apply for government jobs that require a degree qualification. Many top B-Schools in India such as Lloyd Business School, IIMs, XLRI, SPJIMR, etc. offer PGDM programs that are recognised by AICTE.
The following image better illustrates the core difference between MBA and PGDM:
To be eligible for PGDM, candidates must have completed graduation from any stream with a minimum of 50% marks. Some institutes may also require work experience or a valid score in entrance exams such as CAT, MAT, XAT, CMAT, etc. The admission process for PGDM varies from institute to institute and may involve written tests, group discussions, personal interviews, etc.
The fee structure for PGDM also varies from institute to institute and may range from 2 lakhs to 25 lakhs depending on the reputation and ranking of the institute. Some institutes may also offer scholarships or financial aid to deserving candidates.
The syllabus for PGDM covers various aspects of business management such as accounting, finance, marketing, operations, human resources, strategy, etc. The course is divided into trimesters or semesters and consists of core courses, electives, projects, internships, etc. The electives allow the students to choose their area of interest or specialisation from a wide range of options such as international business, operations management, business analytics, marketing, finance, HR, supply chain management, etc.
The scope for PGDM graduates is immense as they can find employment opportunities in various sectors such as banking, consulting, IT, FMCG, retail, e-commerce, etc. They can also start their own ventures or work as freelancers or consultants. The average salary for PGDM graduates ranges from 4 lakhs to 20 lakhs depending on the institute, specialisation, experience, and skills of the candidate.
PGDM is a popular choice among aspirants who want to pursue a career in management and enhance their skills and knowledge. It is a course that provides exposure to real-world scenarios and challenges and prepares the students for leadership roles in the corporate world.
Navigating the vast landscape of PGDM programs can be a daunting task. To make an informed decision that aligns with your career aspirations, consider these crucial factors:
Some other criteria that are worthy to consider opting of PGDM are:
Remember, choosing the right PGDM program is a crucial step towards your professional success. By carefully considering these factors, you can make an informed decision that aligns with your aspirations and paves the way for a fulfilling career.
In today’s fast growing economy and frequently changing professional skills, PGDM has emerged the preferred choice for post graduate students and working professionals. Except for the difference of a degree, MBA and PGDM are considered equal in the market by market leaders and top hiring companies. Both MBA and PGDM are recognised by the councils operational under the Central Government. Since PGDM is autonomous it has the flexibility to adapt and update itself as per the market needs to train more skilled and adaptive professionals.
Just like Lloyd Business School, there are other good business schools that provide cutting edge curriculum, state of the art facilities and excellent infrastructure. To mark your journey in a PGDM course, you need to procure at least 50% marks in the graduation and remain ready to go through written test and personal interviews. In some cases institutes can also ask for work experience or score in competitive exams such CAT or MAT.
The fee structure varies from institute to institute, ranging from 2 lakhs to 25 lakhs, with some institutes offering scholarships or financial aid to deserving candidates. The syllabus includes core courses, electives, projects, and internships, covering areas such as accounting, finance, marketing, operations, human resources, and strategy. Students can choose their specialisation from a wide range of options.
Graduates have a broad scope for employment in sectors like banking, consulting, IT, FMCG, retail, e-commerce, etc., with salaries ranging from 4 lakhs to 20 lakhs. The course is popular among aspirants seeking to enhance their skills and knowledge for a career in management, providing exposure to real-world scenarios and preparing students for leadership roles in the corporate world.
Always remember to cross check top criteria such as accreditation, curriculum, fees structure, faculty experience, internship placement, etc. while going for a PGDM course.
