While going through various CVs in Washington, US, I could not understand why brilliant students from India (some of whom were IIT + IIM pass outs), were trying to pursue masters degree from top US Universities? Wasnt an IIM MBA good enough to get them a job? On probing further, I got to know that the degrees offered by IIM was actually a post graduate diploma, and not really a masters degree programme, prompting IIM students to study further in the US of A. The question (MBA vs PGDM) has been troubling various students and today I will try to clarify it once for all.
When you think of the most beautiful person in world, you immediately think of Aishwarya Rai. When you are asked about the most beautiful monument in the world, instantly Taj Mahal comes to your mind. Have you ever though why? Its just that they have been marketed so well that you always associate beauty with them. This is called Branding. Similarly MBA has been hugely marketed and branded in India, and whenever you think of a Business Course, you cannot think beyond MBA. Now, whats the main difference between the two?
Firstly, a Masters in Business can only be offered by a University or institutes affiliated to University. PGDM programmes on the other hand are offered by autonomous bodies or private B-Schools, which may have some affiliation like AICTE. IIM, ISB, XLRI, SP Jain etc are the best examples of PGDM programme providers.
Secondly, University affiliated institutes only follow a curriculum set by the University. Most of Universities in India follow a dated curriculum, which can also be interpreted as outdated MBA programmes (This obviously is not applicable to all the Universities). PGDM programmes on the other hand focus more on industry requirements and are free to change / upgrade / delete their course contents according to industry trends. This is the biggest advantage of a PGDM programme.
Thirdly, If you are thinking of pursuing further studies, like MPhil, PhD etc, then getting a MBA degree is recommended. This simply means that students with a post graduate diploma in management (PGDMs) shall not be eligible for a doctorate in management, unless they take a pathway programme.
Final Recommendation: Do not bother much about MBA or PGDM. Just opt for the best institute, college or University. What you would you choose between a FMS MBA degree and SP Jain PGDM Programme?
Nitin Ticku
