Which course is better – MBA or PGDM?
Your children have completed their bachelor’s and are now thinking of pursuing a management course. MBA or PGDM?
Is that the question they’ve been looking for an answer to? Then let us help you figure out the best option for your child.
Difference between MBA and PGDM
Every student has certain preferences with respect to the duration they want to invest in that particular course, location, future prospects, etc.
Here are some characteristics of both MBA and PGDM which will help you understand how they’re both different. By going through these differences, you can help your child choose the option that works best for them.
|Duration||1 year||2 years|
|Qualification||Diploma Course||Degree Course|
|Required Entrance Exams||ATMA, SNAP, CAT, XAT, NMAT||MAT, CAT, XAT, MAT, GMAT|
|Course Fees (Range)||INR 5 – INR 24 Lakhs||INR 2 – 35 Lakhs|
|Syllabus||Your child will get exposure to a more hands-on approach to workplace situations. The curricula at autonomous institutes frequently get updated to keep up with the changing business environment.||Compared to PGDM, MBA is more theoretical. It also depends on the university your child is applying to.|
|Top Job Roles||Project Manager, Consultant, Data Scientist, Auditor, Tax Specialist, etc.||HR Manager, Business Analyst, Marketing Manager, Finance Advisor, Investment Banker, etc|
|Initial Salary Offered||Up to INR 30 LPA or more||Up to INR 60 LPA or more|
Additional read: Cost of school education in India?
MBA Vs PGDM – Which is More Expensive?
Although it varies from university to university, if we talk about the affordability of both courses, MBA is usually more economical than PGDM.
While your child can get an MBA for about 2 lakhs or a little over, a PGDM usually begins at 5 lakhs.
In either case, you can find out the exact cost of your child’s education through our College Cost Calculator. Once you find out the cost, you can plan your savings for their education accordingly.
Additional read: How education inflation can hurt your child’s future?
Studying MBA in the USA or PGDM in Canada?
Thinking of a study abroad plan for your child? Maybe an MBA from the US or a PGDM course from Canada?
Well then here’s what you need to know to help them decide.
Pros of getting an MBA in the USA
- Increased possibility for lifelong income.
- Increased likelihood of employment and employability.
- Professionally connect with the top talent in the field.
- Become more knowledgeable and broaden your horizons.
- Develop strategic leadership abilities for large corporations.
Expenses: For premier colleges, Indian students’ MBA tuition in the USA can range from 50,000 to 1,000,000 INR.
Cons of getting an MBA in the USA
- Studying for an MBA abroad has various drawbacks, such as the expense or being unable to apply for employment.
- Students may find it more difficult than they anticipated to get visas or work permits for their studies abroad, which might force them to leave the nation quickly after graduation with little time for adjustment.
Pros of Getting a PGDM in Canada
In Canada, PGDM programs are less focused on research and more job-oriented. Many MNCs are headquartered in Canada, which also has a low unemployment rate of 6.5 percent.
While doing the course, students might complete an internship to get experience in the real world. Canada promotes the option of staying behind after graduation.
To add to this, getting a student VISA for Indian students is much easier in Canada compared to the USA.
Cons of Getting a PGDM in Canada
Comparatively speaking, Canadian PGDM courses are less costly than those offered in the US and other nations. PGDM programs typically cost between 15,000 and 17,000 CAD (8,00,000 INR-9,05,000 INR approx.)
Be it an MBA or PGDM; be it in India, USA or Canada, what’s important for you as a parent is to be prepared for the educational expenses.
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What is the difference between PGDM and MBA?
MBA is a 2-year-long degree program whereas, PGDM is a one-year-long diploma course.
For senior positions, should one get an MBA or a PGDM?
Although both hold great importance if issued by prestigious institutions, the degree is sometimes preferred over the diploma.
Which is more expensive – MBA or PGDM?
The answer completely depends on the institute one has applied to. However, in general, the diploma program is more expensive than the degree.
Consult an expert advisor to get the right plan
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