While an MBA degree has been popular with many students interested in a career in management, a postgraduate diploma in management (PGDM) also has several takers. Is a PGDM, however, equivalent to an MBA when it comes to job prospects? Does it have the same career scope?
An MBA is offered only by universities and colleges affiliated to universities or autonomous institutions like the IIMs. A PGDM, on the other hand, is offered by an autonomous body which is not affiliated to any university. Both are postgraduate courses in management. In the ’80s, private institutions started as autonomous schools and started granting PGDM courses.
Bakul Dholakia, director general of Delhi-based International Management Institute and former director, IIM Ahmedabad says that today, PGDM students are at par with those with an MBA qualification. “Corporates consider both MBA and PGDM courses equal. A PGDM is enough to get a student his/her dream job and is granted by nearly 300 private institutions among which only 30-odd institutions provide excellent placements. While competing in the job market, what matters is the quality of the courses and the international ranking of business schools,” he says.
A well-designed PGDM programme prepares students with thorough and relevant management-centric knowledge of the marketplace, trends in the global business scenario, understanding over complex business issues, etc. Pranabesh Ray, dean (academics), XLRI Jamshedpur, says, “It sharpens one’s interpersonal, quick thinking and multi-tasking skills and transforms them as effective decision- makers who can make even difficult situations turn in their favour. An ideal MBA programme imparts classroom education hand-in-hand with real-life experiential learning which would equip future business leaders to outface the challenges in their future work-life journey. I don’t think MBA students have an edge over PGDM students.”
In fact, among the top 10 B-schools in India, only a few offer MBA...the rest offer PGDM courses, says Ray. XLRI and all IIMs offer PGDM degrees. An autonomous institute like XLRI that offers a PGDM course updates its curriculum regularly; and designs its curriculum in line with industry requirements.”
PGDM students believe that if pursued from one of the top B-schools, a diploma in management is also a good option for those who cannot or do not want to go for an MBA.
“A PGDM from a good institute can give you access to a refined curriculum, good faculty, hands-on experience and great job offers. Now, PGDM students can also go in for research,” says Gupreet Kalra, who did his PGDM from IMI.
Srinivasan C, who secured admission to the MBA course at Narsee Monjee Institute of Management Studies, Mumbai, , feels an MBA is an MBA, after all. “A master’s degree has its own advantages and it has been preferred by most management aspirants. An MBA degree adds value to your CV,” he says.
What experts say about MBA, PGDM
Corporates consider both MBA and PGDM courses equal. A PGDM is enough to get a student his/her dream job and is granted by nearly 300 private institutions among which only 30-odd institutions provide excellent placements, says an expert
A master’s degree has its own advantages and an MBA has always been the preferred choice for most management aspirants, say students
A PGDM from a good institute can give you access to a refined curriculum, good faculty, hands-on experience and great job offers. Now, PGDM students can also go in for research
An ideal MBA ­programme imparts classroom education hand-in-hand with real-life ­experiential learning