Today, most of the students are getting confused to go for a PG. Still, they are in the dilemma that whether MBA or PGDM is better to grow in a career. There is a difference between an MBA and PGDM. But, there are lots of benefits with PGDM.
PGDM expands to Post Graduate Diploma in Management, the confusion starts when you see the term Diploma. Many students are of the view that it is a Diploma course and not a Degree; you are right to an extent that it is a Diploma. The main reason why postgraduate courses are named as PGDM is because when an Institute is an autonomous body (meaning it is not affiliated to any University) and conducts management courses then such Institutes cannot offer MBA degree. Even IIMs, XLRI’s doesn’t offer MBA degrees they only give PGP Diploma or PGDM since they are autonomous and independent bodies. On similar lines AICTE (All India Council for Technical Education) is allowing approved colleges to run a PGDM course. Some Business Schools offering this AICTE PGDM course need not be autonomous, the PGDM course will be autonomous given by the Institute & directly approved by AICTE, Ministry of HRD, and Govt of India.
Just like how UGC – University Grants Commission controls the Universities in India, AICTE – All India Council for Technical Education has control on both technical and management courses and especially colleges not under Universities. Even colleges offering UGC recognized MBA Programmes in most cases should have AICTE approval.
Benefits of PGDM:
Usually, autonomous colleges maintain latest syllabus, as per the market demand, but in universities it is not possible to change the syllabus every year. It will take 3 or 5, sometimes it will take 7 years. Because many colleges will affiliated under the university, syllabus books, and textbooks need to change and faculty needs to upgrade themselves. Based on this reason it will take time to change the syllabus. But in autonomous colleges they will change continually, according to current market trend. So that students will get latest knowledge.
Duration & Eligibility
Have you completed your Graduation? If yes then go ahead and choose a course in which you are interested. PGDM is the TWO-year Post Graduate Diploma programme for those who are interested in management studies.
Whether you have done your school with arts, science or humanities, you are free to choose the PGDM programme. The PGDM is most popular and well-known courses among the students. It has a vast area of specializations.
Many of colleges,B-Schools and Universities are offering the PGDM programme as regular or distance learning education. Students can pursue this course full-time or distance mode. The value of full-time course is considered more over the distance mode.
In India, the accreditation body for PGDM is UGC/AICTE & Ministry of HRD. There are different accreditation bodies in different countries.
During the study period of business administration, students learn how to make business plan or business ideas more optimistic and positive that can help the industry.
The top core Specialization of a PGDM degree are as the following:
For admissions into PGDM courses, students are needed to clear the Graduation or equivalent examination from any recognized Universities. Some colleges consider the criteria of securing 50% marks in the qualifying exam. No age bar.
Once you know why you want an PGDM certification, you should be prepared with a knowledge base of jobs that require this degree. Based on that, you may nurture your career interest. Client relations, consulting, business planning, resource or system analysis may be a part of your job profile, but let’s take a more specific view of the job opportunities after an PGDM:
- Banking & Finance: This includes security & investment analysis and portfolio management. These jobs, available with banks, security firms, insurance companies, and various financial organizations, require a professional to make right choices about investments. Related job profiles are in Corporate Treasury, Business Operations and Credit Analysis. Such jobs are typically offered by companies such as Goldman Sachs, J.P. Morgan, Nomura, RBS, Barclays etc.Other job opportunities in banks are for Commercial Banking, Liabilities Product Management, Cards Management, Transaction Banking, Corporate Banking, Compliance, Wholesale Risk, Credit Risk, Relationship Management and Treasury. Banks like ICICI Bank, Yes Bank, Kotak Bank, Axis Bank, State Bank of India, HDFC Bank and RBL hire MBA graduates for such roles.
- Information System Management: This requires a more technology-focused candidate, day someone with an PGDM in Information Systems. Such candidates identify fresh and up-to-date technologies to serve an organization better. They provide a thorough cost analysis for use of the right technology while working with financial and managerial departments.
- Investment Banking: This is a job in demand. Companies that hire for this role include SBI Capital Markets, Motilal Oswal & Bank of America Continuum among many others. The right candidate functions as an underwriter. He/she has to connect investors to fund-needing organizations. The candidate must have the acumen to analyze what fits best for the client. They deal with acquisitions and mergers as well as clients. Other job profiles include those in Treasury, Securities and Investment Management.These being the top three options, there are more job opportunities for this Program
- Management Consulting: If you are a problem solver, this is the job that suits you best. A management consultant specifically solves organizational issues, while embracing fresh ideas and new methods of problem-solving. Firms that hire for such roles include Cognizant Business Consulting, Bain (BCC), KPMG, PwC, Infosys Management Consulting, Michael Page, Deloitte, PeopleStrong, Cartesian Consulting & many more.
- Private Equity: Just like investment banking, your investment acumen comes into action in a private equity job profile. Companies that recruit are Religare, Magma Fincorp, DE Shaw, Indiabulls Housing Finance, Kotak Life, Angel Broking, ICICI Prudential Asset Management, Bajaj Finserv, Kotak Wealth Management, JPMorgan Chase, Axis Securities, Fidelity Investments, Fullerton etc.
- Data analytics: With the digital revolution, making sense out of “big data” is becoming increasingly important for all kinds of businesses be it banking, retail, e-commerce or management. As a result many business schools have now started offering data analytics as an important part of their MBA programs. Companies like Fractal Analytics, LatentView Analytics hire MBA graduates as data scientists or data analysts.
- Entrepreneurship: An MBA enhances your ability to be an entrepreneur. Be a fresh graduate or an experienced professional, choosing your career becomes easy with an MBA in your kitty.
Pay package for PGDM from top B-schools
There has been only a marginal rise in the pay package as reported by the top B-schools in India. Click on each college to know more about their placements. The 2016 pay scale has been illustrated in the table below:
|B-School||Average Salary in 2016 (INR)||Top Recruiting Areas|
|IIM Indore||15.67 lakh per annum||Finance, Marketing & Sales|
|IIM Shillong||14 lakh per annum||Consulting, IT/ Analytics|
|IIM Ranchi||15.14 lakh per annum||Marketing & Sales|
|IIM Trichy||13.01 lakh per annum||Marketing|
|IIM Udaipur||12.91 lakh per annum||Marketing & Sales|
|IIM Raipur||12.51 lakh per annum||Marketing & Sales|
|IIFT, Delhi||18.01 lakh per annum||Marketing, Sales|
|FMS, Delhi||20.5 lakh per annum||Consulting, General Management|
|XLRI Jamshedpur||18.5 lakh per annum||Finance|
|NMIMS Mumbai||17.09 lakh per annum||BFSI|
|JBIMS Mumbai||18.13 lakh per annum||BFSI|
The market is abuzz with immense competition today. In the current scenario, merely completing your post graduation is not enough. You will need to choose the right career path after completion of your MBA (Master of Business Administration) or PGDM (Post Graduate Diploma in Management) course so that you can serve as a valuable professional in the industry.
There are different opportunities that you can consider after completing your post graduation in management. Right from managerial roles to consulting and even starting up your own venture, all these options are open for you after doing a PGDM course. Here are some of the most promising career opportunities that you can look into:
- Entrepreneurship:With honed management skills and study in the basics of finances, you can be a successful entrepreneur after completing your PGDM course. You would need to develop and work on a business idea and effectively setup your own business.
- Business Consulting:Any business, be it small scale or large scale requires a set of people that can manage their processes end-to-end, and prove to be of great value when it comes to problem solving. This role is handled by business consultants. Based on your interest, core subjects, and aptitude, you could choose to go for management consulting, financial consulting, or back-end consulting. You can take up the role of a consultant as a freelancer or as a full-time employee.
- Marketing or Business Analyst:In your post graduate management course, you are prepared for analyzing various business cases. If you think that your interest and aptitude lies in this domain then you can opt to become a marketing or business analyst. Your role would include studying the different business scenarios, analyzing them for the viability in terms of results and overall cost and implementing different strategies.
- Investment Banking:Currently considered to be one of the hottest careers, as an investment banker, you will be responsible for handling assets and advising clients on acquisitions. However, at the same time, it will be expected of you to raise capital of your own company. If you are good with numbers and if you are smooth at conversations, then investment banking could prove to be an ideal field for you. However, keep in mind that as an investment banker, your work hours would be much higher and you might need to compromise a bit on work-life balance!
There are ample opportunities after your PGDM course; all you need to do is identify your strengths in order to make the most of these opportunities.
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