Entrepreneurship and startups have been steadily growing as a strong and versatile career path. Due to this, more people are trying to understand the ins and outs of management and as a consequence courses related to management and business are gaining popularity. It definitely goes without saying that running a company or a team needs experience or training, and with the right skill set, the venture into management can be successful. These specific sets of skills, knowledge and training are imparted in management/business courses, especially with PGDM Vs MBA.
Universities and colleges have numerous courses and programmes that are related to management and business administration but the most sought-after are PGDM and MBA. Even though they deal with similar aspects of running a business, they both have incredible differences that make them unique. The blog below explains the difference between PGDM Vs MBA and much more.
What Is PGDM?
PGDM stands for Post Graduate Diploma in Management and is usually a two-year course but can vary based on the institute. It is a postgraduate diploma programme in the field of management and is designed to provide students with the knowledge and skills needed to manage organisations effectively in today’s dynamic business environment. The programme also includes hands-on training through internships, case studies, and projects, which allows students to apply their theoretical knowledge to real-world situations.
Between PGDM Vs MBA, the diploma in management emphasises current market trends and incorporates corporate-ready skills and knowledge. PGDM is accessible to students of every background and hence is the most flexible management course. The course is high in demand due to industry oriented curriculum and hence most universities and colleges worldwide offer this course.
What Is MBA?
MBA is an acronym for Masters of Business Administration which is a graduate-level degree usually of two years duration. It was first taught at Harvard University in the year 1908 and has been a highly desired, career moulder till today. MBA graduates are highly valued by employers and can pursue careers in a wide range of industries, including consulting, finance, marketing, technology, and healthcare. In an MBA the student is inculcated with a broad range of skills and knowledge in areas such as accounting, finance, marketing, operations, and human resources.
The MBA curriculum typically includes core courses in business fundamentals, as well as elective courses that allow students to specialise in a particular area of business, such as finance or marketing. MBA programmes also offer practical training through internships, case studies, and other experiential learning opportunities. Many MBA graduates also start their own businesses or pursue careers in entrepreneurship.
Difference Between PGDM Vs MBA
Since PGDM and MBA deal with the same field of study it is understandable how someone can be confused as to which one is a better option. A postgraduate diploma in management and an MBA are such courses that can define a person’s career path and therefore it is crucial to make the right decision based on personal inclinations. To make things simpler, some classifications between PGDM vs MBA are explained below.
Curriculum And Course Structure
Both PGDM and MBA deal with management and business literature and both include a major portion of the same subjects. However, PGDM programmes are rigorous and focused on practical learning whereas MBA courses tend to be more theoretical in nature. Since PGDM is more industry the curriculum will have much more subjects with updated literature, MBA on the other hand has a blend of old and modern literature. Both of the degrees can include a separate year of work placement.
PGDM courses are designed by autonomous institutions, while MBA programmes are offered by universities. Due to this, the former get greater flexibility in designing their curriculum to keep it updated with the latest industry trends and demands.
Duration
The duration of both of these courses varies on the institution since additional training or placement can add a semester or two. PGDMs can be for one or two years and on the other hand, MBAs can last for two years. They are divided into four semesters for years and each semester includes new subjects.
Specialisation Options
Between PGDM vs MBA, the former has students industry ready with a modern and up-to-date curriculum therefore it has more specialisation options like digital marketing, fintech, data analytics, and supply chain management. MBA on the hand imparts overall business and management knowledge which includes traditional theories as well. As a result, the specialisations offered are more inclined towards theoretical literature like marketing, finance, human resources, and operations.
Admission Criteria and Eligibility: PGDM Vs MBA
The minimum requirements between PGDM vs MBA are mentioned below.
PGDM:
- A Bachelor’s degree with a minimum of 50% and duration of at least three years
- Entrance exams based on the institute (GMAT, CAT, MAT, etc)
- Resume or CV (Work experience is optional but will improve the value of the profile)
- Candidate might have to undergo video interviews or group discussion
- English proficiency tests (TOEFL, IELTS)
- Any achievements, awards, recognitions, etc are beneficial for admission.
- SOPs and LORs
- Passport and a valid visa
MBA:
- A Bachelor’s degree with 10+2 high school education and a total of 16 years of education
- Entrance tests such as GMAT, GRE, MAT, etc might be applicable
- English proficiency tests such as TOEFL, IELTS or PTE
- State of purpose
- Letter of recommendations for reputable sources
- Work experience of 1-2 years (If applicable)
- Proof of financial stability for certain academic years
- Passport and student visa
Tuition Fee
As mentioned earlier, PGDM is mostly offered by private or autonomous establishments and therefore have a higher tuition fee. While MBAs are included in many government or state universities/colleges they have reduced tuition fees. Moreover, tuition fees are entirely diverse and based on the institute in question.
Career Prospects And Salaries: PGDM Vs MBA
Between PGDM vs MBA, is it safe to say both have growing and promising career paths. However, it is possible that PGDM graduates will have specific career paths as per the specialisations opted for and broader selection might be tougher. Whereas for MBA graduates the options are plenty since they deal with a wider spectrum of business and management. Some of the career paths for a PGDM graduate are PR Officer, Business Consultant, Entrepreneur, Business Analyst, Operations Manager, Marketing Manager, etc. Some of the career paths for an MBA graduate are Project Management, Network Management, HR Professor, Account Management, Strategy Consulting, etc.
The salaries for a PGDM graduate can range from 5,000 USD all the way up to 27,000 USD based on many factors. On the other hand, MBA graduates can earn anywhere between 10000 USD to 40,000 USD.
In the end, one should not regret their decision between PGDM vs MBA and hence it is advisable to have proper research and understanding of how both degrees function.
If you liked reading this blog on ‘A Better Understanding Of PGDM Vs MBA’ then make sure you check out our other articles link below
Choosing Between Management Courses: MBA Vs MIM
Programme Overview: MBA In Marketing Vs MBA In Finance
How To Pursue A PhD After MBA?
1 thought on “Top PGDM Courses In Canada: Universities, Specialisations & Eligibility”
I have done Bachelor’s in Culinary Arts from India and completed my graduation in the year 2022 .I am 22 years old. After graduation, I have done 1 year paid internship from USA .Now, I would like to take occupational experience and learn culinary skills and also do masters in Culinary arts.How can I find the college n best course / country where I can persue studying further