The answer to your question comes in two parts.
- The difference between MBA and PGDM
- PGDM courses are updated according to changes in the industry and hence offer you relevant and current syllabi as compared to an MBA course. This is because an autonomous institution i.e. not falling under a University has the autonomy to rapidly regulate its curriculu instead of following the herd.
- Second, colleges that offer PGDM courses since are autonomous, need to be verified regarding their accreditation by AICTE. MBA colleges fall under Universities and Universities are under regulation by UGC so students may not need to take much caution comparatively.
- If PGDM course is not accredited, it may not be considered equal to MBA.
- MBA is more affordable than PGDM as the fee structure is regulated in the same manner by all the Universities.
- MBA pays more attention to improving the technical skills and theoretical, business knowledge. Whereas as stated above, PDGM offers more of practical based, industry relevant knowledge.
2. IIMs offer diplomas because otherwise they would have to compromise on their autonomy, and also generating degrees is a slower process than providing diplomas.
Hence if you are looking for a challenging role as a Manager in the corporate world, you are suggested to go for PGDM. 🙂
MBA – Master of Business Administration.
PGDM- Post Graduate Diploma in Management.
If you have a MBA degree you can proudly proclaim that you are a post graduate but in case of PGDM you are a diploma holder in a post graduate course.Otherwise, PGDM is equivalent to MBA.
The advantage of a MBA degree over PGDM are :
1. You can opt for govt jobs mainly PSU where MBA degree is required
2. You can do a PhD if you have MBA degree
How does MBA or PGDM Impact your career?
In purely an Indian context, there is NO DIFFERENCE when it comes to how the industry treats PGDM and MBA graduate. If you see, 9 out of top 10 B Schools in India offer PGDM / PGP and not MBA. This is the testimony to the fact that there is no difference between the two in India.
Career growth is same in both.
Global context in two parts: Jobs and Higher Education (like PhD or double MBA).
From job perspective, there is no difference even in global , if you are coming from a reputed B School of India.
From Higher Education perspective; yes there is a difference and having an MBA degree helps you a bit more as compared to having a Diploma (PGDM / PGP). Though, the difference is minuscule of just a point or two when it comes to the evaluation of your application form for higher education.As MBA gets you marked against Masters Degree while PGDM/PGP gets you marked against Masters-Diploma.
So, if you are not looking for higher studies, then whether you have MBA or PGDM doesn’t matter. What matters is you are coming from which college, its industry perception and similar aspects.
Examples of PGDM/PGP Institutes in India are- IIMs ,XLRI, SP Jain, NMIMS (Banglore/Hyderabad) etc.
Examples of MBA colleges in India are- IIFT , JBIMS , FMS ,NMIMS(Mumbai)SIBM (Pune), IITs etc.