MBA vs PGDM
It is a fact that a person who has been educated or gone to college has more employment opportunities than those who did not. Parents prepare their children for this and send their children to the best schools and colleges. One of the fields that attract a lot of interest is management or business administration.
A course in management or business administration usually runs for four years and the graduate can then start looking for a job in the business field or other industry. Others opt to further their studies in order to earn more points with employers. They would aspire to get a Master in Business Administration (MBA) degree or a Post Graduate Diploma in Management (PGDM).
These two are post graduate courses that have similarities but are very different from each other.
Master in Business Administration was first introduced in the late 19th century. It emerged from the need of American companies for scientific approaches to management, during the industrialization of the United States of America.
A course in MBA is designed to introduce students to various aspects of business. It includes courses in accounting, economics, finance, management, marketing and human resource.
An MBA is a two year course and has several types:
. Full time, requires 2 years and have 4 months summer break.
. Accelerated, have more intense study and examination schedules and requires 2 years but only has 10 days vacation.
. Part time, for working professionals with classes after regular office hours and weekends only.
. Executive MBA, for managers and executives which also requires 2 years of studies.
. Distance Learning MBA, offers off campus classes, through correspondence and videos or online/offline computer courses.
. Dual MBA, offers both a bachelor’s degree and an MBA meant to help save time and money.
Only universities or institutes that are affiliated to universities can offer MBA courses, those that do not, can only offer PGDM.
Post Graduate Diploma in Management was first offered in the United Kingdom and requires one year of full time studies or three years of part time studies. It was initially meant for General Managers but later caters to other professionals as well.
PGDM focuses more on various industry requirements. It designed its curriculum according to these requirements, to make it more aligned to the demands of the industry. With a PGDM, a student is assured of a place in a good company after graduation.
It is very different from an MBA in both content and academic depth. It is not as properly accepted in commerce, industry, and business as an MBA.
1. MBA has a different content than PGDM.
2. MBA is deeper academically than a PGDM.
3. MBA is designed to educate the students on the different aspects of business and industry like economics, finance, accounting, marketing, human resource and management, while PGDM is designed to focus on the needs of the industry or business.
4. MBA is a degree course, while PGDM is a diploma course.