Post Graduate Diploma in Management (PGDM) or Post Graduate Programme (PGP) or Masters in Business Administration (MBA) are both management courses at Master’s level. Both the courses have a commercial orientation and it’s difficult to differentiate between the two.
While both the courses have almost similar outcomes in terms of employment prospective, there are some subtle differences.
Below, we have listed five differences between PGP/PGDM and MBA:
- Degree vs Diploma
At the end of PGP and PGDM course, candidates are offered a Diploma. However, at the end of an MBA programmes, candidates receive a degree.
Many students tend to think that a diploma course does not hold the same value as that of a degree. But that is not true. All the Indian Institutes of Management (IIMs) and other top B-Schools such as XLRI Jamshedpur and SP Jain Mumbai offer PGP or PGDM courses. Most of these institutes are autonomous bodies (not affiliated to any University) and conducts their own management course.
The government is currently mulling about conferring MBA degrees at IIMs.
When an Institute secures autonomy they design their own curriculum to be taught instead of following outdated University syllabus. I have mentioned outdated syllabus because the syllabus change at University level happens once in either 3 or 5 years. Technically syllabus change affects university affiliating colleges, the books needs to be revised and the faculty needs to upgrade themselves.
Where as in PGDM, since the colleges have autonomy the curriculum can be updated regularly depending on the need in the Industry. Hence one can say that PGDM courses are more Industry relevant, up to date as compared to MBA courses. However University MBA Programmes too are of value, it totally depends on the University one wish to do MBA. For instance FMS Delhi offers MBA – Delhi University, Symbiosis offers MBA – Symbiosis University, Narsee Monjee offers MBA.
- Susceptible to Fraudulence
Since PGP or PGDM courses are offered by autonomous bodies, students need to be careful while taking admission. Many smaller colleges and institutes make claims or do not have proper accreditation status. MBA degrees are conferred by varsities, and hence there’s a lower chance of fraudulent claims. Colleges offering PGDM courses need to be accredited by AICTE. In case of MBA, the colleges are affiliated to an University and Universities are controlled by University Grants Commission (UGC) and the colleges may also get accredited by AICTE.
Both MBA and PGDM courses have common core subjects. However, some experts claim most MBA courses focus more on theoretical and technical aspects of management rather than adopting a practical approach. PGP or PGDM courses have an industrial orientation and focus on skills based on market requirements.
- Cost Factor
It has been observed that most MBA courses have lower tuition fees as compared to PGP or PGDM courses. This may be so because mostly government approved universities offer MBA degrees. These universities receive financial aid and grants from the government, making the degree cheaper for the student. In case of a PGP or PGDM degree, students have to bear the cost of the entire programme. However, this is not an ironclad rule. There are MBA degrees which charge high tuition fees (such as IIFT).