A new season has begun and graduation results are declared. The graduates have started looking out for the best way forward by selecting a post graduation course which they think will help them reach their career goals. Management course is the most sought after option as it gives the versatility and flexibility to the students to make a career across all the industries and as the entrance season approaches institutions leave no stone unturned to lure them towards their courses. This creates a dilemma for the management course aspirants on which institute to join and what to choose, MBA or PGDM? The confusion is further enhanced by a lot of business schools that have come up claiming tall achievements and increasing number of MBA colleges in the university system.
The technical difference, which the students need to understand between an MBA and PGDM, is that an MBA is a course offered by the colleges affiliated to a university while the PGDM is a course offered by the autonomous institutes that are approved by the All India Council for Technical Education (AICTE). Even prestigious institute like IIMs offer PGDM and not MBA as they are not part of any university.
As PGDM colleges are autonomous, they are not bound to any university structure and have an inherent ability to utilize academic freedom within the parameters prescribed by AICTE to develop trend-setting educational programmes & processes which are in line with the industry demands. On the other hand an MBA college has to strictly follow their respective University’s curriculum and lack flexibility, which is needed to adapt to the changing market scenario.
While the content for both the programs do not have much difference, it is the delivery methodology of the curriculum which differentiates the both. In a PGDM along with the rigorous classroom learning, students get vast exposure to the real world of business through live projects, industry internship, case studies, and interactions with business leaders. Management concept and techniques are simplified by simulating key business environments in the form of games and enactment of contemporary case studies. Industry experts from around the world are invited for talks and inspiration.
A success of a career after all is dependent upon the aspirant’s talent and industry too doesn’t stress much on which certificate one carries, and it is also observed that a PGDM student carries an upper edge due to the exposure and experience he has gained during his studies.