Management colleges in India offer a variety of graduate, and postgraduate management programs such as MBA and diploma programs such as PGDM and PGP, as well as doctorate programs such as Ph.D. in management or FPM.
The top management colleges in India have excelled at providing high-quality management education that competes with the best in the world.
As a result, almost all applicants to postgraduate management programs have this frequently asked question. What is the distinction between the three courses i.e. PGDM, MBA, and PGP?
Is an MBA or a PGDM the better option? If MBA and PGDM or PGP are similar, why are these courses offered by different institutes? In a nutshell, everyone wants to compare these courses, namely MBA vs PGDM vs PGP.
PGP vs PGDM: Key Differences
The Post Graduate program and Post Graduate Diploma in Management are quite similar courses.
PGDM is a diploma course, while PGP stands for Post Graduate Programme.
Moreover, unlike the PGDM, the PGP does not cover all of the required management subjects besides core subjects. The PGP course helps you imbibe skills and helps you learn the managerial aspect of it. In addition, it consumes less time than a diploma.
PGP is ideal for candidates who want to expand their skill set without leaving their current position. For instance, you can opt for a PGP course in digital marketing to dive into its technicalities.
Also PGP course can be integrated with MBA. Renaissance university is the best college for MBA+PGP (Business Analytics ) integrated course.
The PGP course is specifically designed for candidates who want to devote more time to acquiring skills and is only worth the time and investment when it’s done at a top business university.
MBA vs PGDM: Key Comparison Points
Here is a detailed comparison between the courses based on certain parameters to help you break it down.
1. Course Duration
An MBA program lasts two years and includes a two-to three-month training program, depending on the university.
The PGDM program lasts two years and is divided into four semesters, with a training period of two to three months. However, it also depends on which university you’re pursuing.
Admission to this two-year MBA program is based on a competitive exam administered by various UGC-recognized universities and affiliated institutes at the institute level. However, some universities consider admission based on entrance exams such as MAT, CAT, and others.
Admission to PGDM programs is based on competitive exams administered by individual institutions such as XAT by XLRI. Some universities consider competitive exams such as CAT and CMAT.
However, it’s not easy to get enrolled in IIM and top business colleges as they demand high percentile and cut-off marks. Don’t worry, if you aren’t able to get enrolled in your desired IIM college and are considering getting enrolled in a top-notch private university, Renaissance is the best.
In MBA, only UGC-recognized universities or institutes affiliated with these universities offer it. Also, the universities should be approved by AICTE.
PGDM can be offered by any university. The program can be provided by any university regardless of autonomous status.
Although many PGDM or PGP programs do not require any kind of experience, many specialized PGDM or PGP programs do require a certain amount of experience that can range from 5 years to 15 years to be enrolled.
Generally, MBA programs lack autonomy as the universities are affiliated and subjected to UGC rules and regulations. It is difficult to keep courses updated concerning changing business conditions. The syllabus is generally updated every 3–5 years.
While the curriculum of PGDM programs is more updated as it’s generally offered by autonomous institutions, making the syllabus more relevant and updated.
5. Fees Structure
The MBA is mostly offered by universities or institutes affiliated with the UGC, the fee structure of MBA programs massively varies from university to university. The fees of top Management college starts from around 5 lakhs and more than.
PGDM is mostly offered by autonomous institutes and hence demands higher fees. It varies from institute to institute depending on the demand in the industry. It may cost several lakhs or more, making it unaffordable for some.
Both courses hold the same position. Make sure that the university’s accreditation status is confirmed before enrolling in PGDM courses.
However, in the case of MBA, some caution is required as the colleges should be affiliated with a university recognized by the University Grants Commission (UGC) and AICTE.