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Difference between MBA Vs PGDM – Which is Better?
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Ok. This is another question that a lot of students have, so will give a longer answer.
MBA is a degree. Only Universities can grant degrees (Plus IITs and now IIMs after the IIM Bill passed in Parliament).
So for any college to give an MBA, they have to be affiliated to a University. So what does that mean?
University sets curriculum and Evaluation. Is that a good thing. Mostly no. Our Universities are slow in updating curriculum, evaluation is excessively theoretical.
PGDM is a diploma and is issued by the college itself. This allows the College the autonomy to create its own curriculum, teaching methods and evaluation. Is that a good thing? It can be provided the college is good, but it can also be misused.
What does the practical evidence show?
Among the top 20 colleges in India, only 1 is affiliated to a University, i.e. Jamnalal Bajaj. Out of the remaining
FMS is actually the department of the University. IIMs till now give PGDM and some are deemed Universities (NMIMS, Symbiosis).
The point to note is that all are autonomous and set their own curriculum and evaluation methods. This is the only way for excellence.
To summarise, PDGM is better provided we are talking about a good college. If the college is bad, then it is irrelevant whether they offer MBA or PGDM. Either way, don’t join!