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Students are sometimes confused regarding PGDM and MBA programs. Some of the pointers that can be helpful are:
1) PGDM stands for Post Graduate Diploma in Management, which as the name suggests is a Diploma program while MBA is Master of Business Administration, a Degree.
2) PGDM is offered by autonomous institutes and is approved by AICTE, an apex body of Government of India, whereas MBA is offered by a University or a University affiliated college.
3) The curriculum of PGDM programs is more flexible and can be frequently modified as per industry requirement and changing business environment. MBA curriculum is slightly rigid and for any change it has to follow University protocol and guidelines which can be time-consuming.
4) PGDM courses make you industry –ready and the entire focus is on holistic development of the student. In comparison MBA programs may be class-room oriented.
5) PGDM programs can be expensive, starting from 6L onward depending on the institute, its offerings, location and brand. MBA from a University or its affiliate college will be more affordable.
6) For PGDM to be equivalent to MBA, it must have accreditation from AIU ( Association of Indian Universities)
7) From placement perspective , industry treats both the courses at par. For industry, institute brand and student competency (skill-set, knowledge and attitude) matters.So check out the college and its placements wisely and take an informed decision.
8) However, if you are interested in pursuing higher education, MBA degree earns greater weight age. And opt for institutes offering PGDM accredited by AIU.
9) Companies sometimes prefer PGDM students as their courses are tailored according to their requirement.
So research thoroughly and decide according to your interests.