Have you just finished your bachelor’s degree and are considering an MBA? Suppose you’ve been employed for a while and have amassed some managerial experience. In that case, you like moving up the corporate ladder. The PGDM is a diploma program in management that you may come across, but what you want is an online MBA course. You could be confused by the name and question if it’s the same as an MBA or not. In short, what exactly does the term “PGDM” mean? For starters, how does it compare to an MBA? Let us investigate this further.
What is a PGDM course?
The Post Graduate Diploma in Management, in short PGDM, is a two-year business management program designed to meet the industry’s needs and assist students in gaining the hard and soft skills they need to succeed in the workplace. Only universities authorized by the University Grants Commission (UGC) can offer degrees. It is a Diploma program rather than a degree. Instead of degrees, the All India Council for Technical Education (AICTE) grants diplomas to private business schools and stand-alone institutions. PGDM programs are in high demand among wise recruiters.
Reasons to pursue PGDM course
- Intensive training program: In contrast to typical MBA programs, PGDM diplomas allow you to specialize in any of more than 50 different areas of business. These include PGDM in Marketing Management, PGDM in Financial Management, PGDM in Business Analytics, PGDM in Logistics and Supply Chain Management, and PGDM in Human Resource Management. The course structure focuses more on practical learning inputs than theory to make the PGDM diploma unique. In comparison to MBA and MIM, PGDM is the most excellent option.
- An evergreen field for your work: Even today, management is an essential part of every organization, which requires a well-trained team to keep things running smoothly and efficiently. Since organizations in all industries need managers, a career in management is a long-term investment. There will always be jobs available. Many of the skills learned in the PGDM program will be helpful in any company organization today or in the future. These include customer engagement and project management, leadership, operational and management skills, and business growth and planning capabilities.
- An industry-related Diploma: In contrast to MBA programs, the course structure of PGDM programs is industry-specific, so you only learn the required syllabus to prepare you for the specific course in which you wish to build your career. The inclusion of credit-based internships as part of the curriculum, on-the-job training, fieldwork, and practical experience earned over two years is further evidence of this fact.
- Business exposure: According to the information provided, the PGDM is an industry-integrated diploma that includes various opportunities for students to gain experience through on-the-job training, internships, fieldwork, and other forms of industrial exposure. As a result, they will have gained a significant amount of knowledge by completing their diploma program. In addition, most PGDM courses are taught by high-level executives, entrepreneurs, and corporate leaders, allowing students to learn directly from them. The traditional MBA lacks the kind of exposure that students can get from learning directly from these notable experts through engaging classroom sessions and Institute-sponsored management training.
- Higher salaries: In today’s business world, PGDM is favored because of its emphasis on practical skills rather than theoretical knowledge. To rise in the ranks, you need a better grasp of functional abilities. Some of these institutes also collaborate with high-paying, high-tech corporations to help students land jobs upon graduation.
- The PGDM program is a long-term commitment: To become a real management student, you must appreciate the importance of both failure and achievement. With a postgraduate diploma in management, you’ll be well-versed in the field. You will learn about reality-based theories every time you succeed after failing, which will help you become a better entrepreneur and business mogul in the long run. It’s becoming increasingly important to have an MBA degree to work in the business or management sector because of the aforementioned reasons.
What factors to consider when picking a B-school?
These characteristics will help you narrow down and eventually find your desired B-school.
- Acquaint yourself with the application’s specifications
- Has the course selection aligned with your post-MBA career goals?
- Develop your checklist based on the goals and expectations you’ve established for your time at business school.
- Do you believe you’ll get into your preferred business school?
- Be aware of the whole cost of attendance, including tuition, living expenses, and any additional fees.
- It is essential to keep the above factors in mind when choosing a business school to make informed judgments.
Who should consider a PGDM?
Students with a business or job experience background should consider enrolling in the PGDM program. Analytical skills, thinking, and students desire problem-solving approaches across various business operations.
In the following situations, a PGDM degree would be an excellent next step:
- Become an expert in your field
- Grow in your career by acquiring or upgrading your qualifications and skillset
- Keep aware of emerging trends and technology that may impact or benefit your work.
- Career advantages of PGDM in India and around the globe
- Learn a broad set of new skills and expand your professional network.
- You can significantly impact your employer’s organization in a short period.
- For example, you can work as a business consultant, business analyst, data analyst, project manager, operations manager, and risk manager.
- There is a need for functional managers who have a solid grasp of various industries’ systems, efficiency, and operational challenges.
- An MBA or PGDM, on the other hand, can help you create your business or take on a leadership or management role in a corporation. Management consultants, managers, and supervisors in various industries can use these degrees to further their careers.
A PGDM degree has now been shown to assist students in becoming well-rounded, future-focused business leaders based on the criteria above. Students need to verify that the AICTE accredits the institute before enrolling in a PGDM program there. Students’ long-term employment prospects are intimately correlated to the college’s prestige and reputation.