Over time, some educational programs can lose their relevance, and the traditional MBA may be one of them unless it is updated. For individuals pursuing management studies, the MBA may seem outdated compared to the more current and practical PGDM (Postgraduate Diploma in Management). Generally, PGDM programs are more aligned with industry needs, providing skills and knowledge that are highly applicable to today’s job market.
What is PGDM?
Post Graduate Diploma in Management is a program approve by AICTE (All India Council of Technical Studies) with a duration of 2 years. Around 500 institutes are approve by AICTE to offer PGDM in India. These approved institutes design their own curriculum, upgrade it when required, conduct their own examinations and evaluate their students themselves.
Also Read: Best PGDM colleges in India
What is AICTE?
AICTE or All India Council for Technical Education is a central government body and council for regulating and approving technical and management education under the Ministry of Human Resource Development. 1945 as an advisory body and later given statutory status by an Act of Parliament in 1987. AICTE is responsible for proper planning and coordinated development of the technical education and management education system in India.
What is MBA?
An MBA (Master of Business Administration) is a UGC approve postgraduate degree typically offer by universities, with a duration of two years. Over 5,500 colleges and universities in India offer this course. While MBA programs generally update their curriculum every 5 to 10 years, they may become less relevant in terms of job placements. As a result, MBA graduates often receive lower salaries compared to those with a PGDM, which tends to be more industry-focused and aligned with current business needs.
Also Read: MBA colleges in India
What is UGC?
University Grants Commission is a statutory body under Department of Higher Education, Ministry of Education, Government of India. Set up in accordance to the UGC Act 1956 and is with coordination, determination and maintenance of standards of higher education in India. Wikipedia
legal differences between PGDM or MBA
Both AICTE and UGC are government bodies that regulate higher education, and both MBA and PGDM programs approved by these bodies have the same legal status. This means that both degrees are equally recognize when applying for government jobs or for pursuing a PhD. However, some universities may require an equivalency certificate for PGDM graduates wishing to enroll in a PhD program. This certificate can be easily obtained from the Association of Indian Universities (AIU).
Also Read: Top 50 Business Schools in India
Difference between PGDM and MBA:
list highlighting the key differences between PGDM and MBA
- Affiliation: MBA is usually offered by universities, while PGDM is provided by autonomous institutions.
- Curriculum: MBA programs tend to be more theoretical, while PGDM focuses on practical, industry-specific knowledge.
- Accreditation: Both degrees hold equal legal recognition for jobs. Further studies, though MBA or PGDM students may need an equivalence certificate for Ph.D. programs.
- Industry Relevance: PGDM courses are frequently updated to meet industry demands, whereas MBA programs might update less frequently.
- Duration: Both typically last for two years.
highest paying jobs after PGDM
Here’s a listing some of the highest paying jobs after PGDM:
| Job Title | Description | Average Salary |
|---|---|---|
| Management Consultant | Advising businesses on improving performance and strategies | ₹15-30 LPA |
| Investment Banker | Managing investments, mergers, acquisitions, and financial deals | ₹12-35 LPA |
| Marketing Manager | Leading marketing campaigns and strategies for businesses | ₹8-25 LPA |
| Financial Analyst | Analyzing financial data to help companies make decisions | ₹7-15 LPA |
| Product Manager | Overseeing product development from concept to launch | ₹10-25 LPA |
| Human Resources Manager | Managing employee relations, recruitment, and talent management | ₹8-18 LPA |
| Operations Manager | Ensuring efficient business operations and process management | ₹8-20 LPA |
These salaries can vary based on location, experience, and the specific industry.
PDGM is an incredibly rewarding career option for those who have perseverance and a passion for learning. People with PGDM work to lead others and are at the pinnacle of knowledge in their respective fields. They get high salary slabs that usually exceed Rs 50 lakh per annum after a few years of experience.
List of Top Business Schools offering PGDM
| Name of Top Business Schools | India | Fees | Average Salary |
|---|---|---|---|
| IIMs | 21 campus | ₹13 lakh to ₹28 lakh | ₹20 – 35 lakhs |
| XLRI | 2 campus | ₹24 lakh to ₹28 lakh | ₹28 – 50 lakhs |
| Management Development Institute | Gurugram | ₹23 lakh to ₹25 lakh | ₹25 – 44 lakhs |
| Symbiosis Institute of Business Management | 4 campus | ₹17 lakh to ₹25 lakh | ₹25 – 37 lakhs |
| S. P. Jain Institute of Management and Research | Mumbai | ₹28 lakh to ₹32 lakh | ₹33 – 37 lakhs |
| Narsee Monjee Institute of Management Studies | 8 campus | ||
| MICA | Ahmedabad | ||
| Great Lakes Institute of Management | |||
| Institute of Management Technology | |||
| Goa Institute of Management |