An Ultimate Guide MBA vs MMS vs PGDM - Which is Better?

MBA Vs PGDM Vs MMS - Confused?

Done with graduation? Now what? As you may know, nowadays, just getting an undergraduate degree is not enough. To reach your true potential and get a great career, you need to do a post-graduation course. There are many such courses available, but management is the way to go. Along with providing a high level of education, management courses also develop students' personalities. So, management is definitely the right choice. But there's a catch here, too. There are multiple management courses to choose from.

The Master of Business Administration (MBA), Post Graduate Diploma in Management (PGDM), and Master of Management Studies are the three best and most popular choices in management courses. Of course, you cannot do all three, so in the following article, you will find a detailed comparison of the three courses. Based on that comparison, you will be able to decide which management course is right for you.

Also Read:

1. Everything You Need To Know About PGDM

2. All You Need To Know About MBA

MBA Vs PGDM Vs MMS: A Comparison

Since all three are popular management courses, a detailed comparison is required to know the differences. You have to measure these differences against what you want from your PG course to know which one is right for you.

So, here's the detailed comparison based on the differences in MBA, PGDM, and MMS courses:

1. MBA Vs PGDM Vs MMS: Eligibility

To be able to do any of the courses, you need to clear the eligibility criteria. The criteria differ for each course and serve as a differentiator for you to consider.

MBA eligibility criteria - You need to be a graduate with more than 50% and above as the final score in a recognised degree from a recognised college. You also need to clear an entrance exam like CAT, MAT, XAT, SNAP, whichever is required by the MBA college.

PGDM eligibility criteria - To be eligible, you also need to have a graduation score of 50% or more. But you can also graduate in a course that's Indian or an interaction that is equivalent and recognised by the Association of Indian Universities (AIU) or University Grants Commission (UGC). Some PGDM colleges require you to clear entrance exams.

MMS eligibility criteria - The eligibility criteria for MMS are exactly the same as for PGDM and allow students to earn a degree equivalent to a bachelor's degree. The only requirement is that this course should be recognised by the AIU or UGC.  

2. MBA Vs PGDM Vs MMS: Curriculum

Curriculum is the specialisations and subjects you will have to study during the course. Since the delivery of each course is a little different, the curriculum varies as well.

MBA Curriculum - The MBA is a course that tries to balance between theoretical knowledge and practical experience. Many students start their management education with this course; therefore, there's greater emphasis on building a strong foundation. For this, the MBA curriculum has:

• Marketing

• Finance

• Human Resources

• Operations

• IT

• Analytics

• Accounting

PGDM Curriculum - The PGDM is more industry-oriented, so practical subjects receive greater emphasis. The idea is to build competence in core subjects each semester. For this, the PGDM curriculum has:

• Finance

• Strategy

• Marketing

• Organisational Behaviour

• Human Resources Management

• Operations

• Analytics

• Information Systems

MMS Curriculum - The MMS course is designed to focus on practical learning, but it also places equal importance on theory and the foundations of business. Most MMS course curricula look like the following:

• Systems (IT)

• Finance & Accounting

• Human Resources/Organisational Behaviour

• Operations

• Marketing

• Accounting

  
  

3. MBA Vs PGDM Vs MMS: Cost Factor

The cost factor is the fees you will have to pay for the course. This is important to know, as the budget is a key factor in choosing a postgraduate degree course. Therefore, understanding the cost factors will definitely help you choose the right course for you.

MBA Cost - The MBA offers a wider range of options when it comes to cost, as the course is offered by almost all top universities in the country, as well as private autonomous universities and institutes. Currently, the cost or fee range for an MBA in India ranges from INR 40,000 to INR 30 lakhs. MBA course fees are cheap in government-aided universities.

PGDM Cost - The PGDM course is industry-oriented and includes extensive industry interaction. Therefore, the course's starting fee is quite high. Most PGDM courses are autonomous, so there are very few from government-aided universities. The fees for PGDM in India range from INR 2 lakhs to INR 25 lakhs.

MMS Cost - This is probably the most affordable course of the three. The fee range is much lower than theirs, and the reason could be that the MMS course is not as widely available as theirs. Currently, the fee range is from INR 2 lakhs to INR 10 lakhs.  

4. MBA Vs PGDM Vs MMS: Scope & Demand

The scope and demand of a course will let you understand how popular it is amongst students and even recruiters.

MBA Scope - The scope for MBAs is high, with graduates from reputable institutes securing jobs at top companies in the country at unbelievable salaries. However, in recent years, the popularity of the MBA has dwindled, partly due to the rise of courses such as PGDM and MMS.

PGDM Scope - PGDM has a significant scope and demand in India, owing to its industry-specific nature. Recruiters actively seek to employ PGDM graduates owing to the ease with which they integrate into their jobs, with minimal training required.

MMS Scope - The demand for MMS graduates has been steadily growing across the country. More and more universities and institutes are offering this course. MMS graduates also land good jobs in good multinational companies and earn high salaries.  

5. MBA Vs PGDM Vs MMS: Salary

An important parameter to consider, if not the most important, is salary. The following are average figures and ranges to give you a near-accurate idea of the salary you can expect.

MBA Salary - The salary for an MBA graduate ranges from INR 3.5 lakhs to INR 14 lakhs, with INR 8.5 lakhs being the average figure.

PGDM Salary - The salary for a PGDM graduate ranges from INR 2 lakhs to INR 15 lakhs, with INR 7.5 lakhs being the average figure.

MMS Salary - The salary for an MMS graduate ranges from INR 3.5 lakhs to INR 13 lakhs, with INR 6.5 lakhs being the average figure.

The salary figures can differ owing to the institute you do your course from, the specialisation you choose, the company and industry you land a job in, and the economic conditions of the country.  

6. MBA Vs PGDM Vs MMS: Skills

There are a few differences in the skills required for each course. You can match these requirements with your skills to determine which course is right for you.

Skills required for an MBA:

• Crisis management skills

• Research & analytical skills

• Strategic thinking skills

• Branding skills

• Training skills

Skills required for a PGDM:

• Technical skills

• Teamwork skills

• Communications skills

• Planning & execution skills

• Problem-solving skills

Skills required for an MMS:

• Sales skills

• Negotiations skills

• Organisation skills

• Interpersonal skills

• Time management skills

7. MBA Vs PGDM Vs MMS: Nature of Jobs

The nature of the job is mostly about the type of industry and sectors you are likely to find a job in.

MBA Nature of Jobs - MBA students mainly find jobs in the private sector, but many public-sector companies have also begun hiring them, recognising the benefits of having professional managers. With ample experience, MBA graduates can also become consultants.

• Marketing Manager

• HR Manager

• Financial Analyst

• Investment Banker

• Business consultant

PGDM Nature of Jobs - PGDM graduates are in high demand across both the private and public sectors. Some PGDM graduates use the knowledge they gain in the degree to join their family businesses or become entrepreneurs. Many even take up jobs in education.

• Marketing Executive

• Administrative Officer

• Operations Manager

• Public Relations Officer

• Professor

MMS Nature of Jobs - MMS graduates get mostly hired in the private sector. They quickly get hired for technical or finance-related jobs.

• Hedge Fund Manager

• Business Manager

• Account Manager

• Equity Research Analyst

• Project Manager

8. MBA Vs PGDM Vs MMS: Pros & Cons

Pros & cons are the positive and negative attributes of something. These pros and cons will further help you assess which course is right for you.

Here are a few MBA pros & cons:

MBA Pros - It is still one of the best management degree programs, with a high rate of graduates landing jobs with good salaries. MBA Cons - The popularity of the MBA degree is on the decline, and theory-based education is finding fewer takers.

Here are a few PGDM pros & cons:

PGDM Pros - This is an industry-oriented program that prepares students to enter the workforce and be productive immediately. Recruiters actively look for PGDM graduates. The PGDM course is quality-controlled by the AICTE.

PGDM Cons - Affordable PGDM courses are hard to find, and many students opt for alternatives owing to the cost.

Here are MMS pros & cons:

MMS Pros - This is an upcoming course that aims to put management courses within reach of all students at an affordable price and relies heavily on financial and technical education.

MMS Cons - The MMS course is still not well-known and has yet to achieve market penetration as strong as that of MBA and PGDM. Slightly harder to find jobs because of the anonymity of the course.

9. MBA Vs PGDM Vs MMS: ROI

Return on investment (ROI) is important because pursuing a postgraduate course requires a significant investment of time, money, and effort. Even though ROI depends on many factors, the ROI of each can be the real difference-maker.

MBA ROI - The return on investment for an MBA is good, especially if you do it from a good MBA institute and land a good placement.

PGDM ROI - Similar to the MBA, PGDM also has a good ROI. A good, AICTE-approved course will get you started in a good job with good pay. But the high PGDM fees reduce the ROI slightly.

MMS ROI - Due to the low popularity of the MMS course, the ROI is lower than that of the other options. But the popularity of MMS is growing, and the course will catch up in popularity and value.  

MBA vs MMS vs PGDM: Which is Better?

Considering all the parameters mentioned above, the MBA and PGDM courses are close in value and delivery, and are clearly better than the MMS course. Though the MMS course may catch up in a few years, in today's competitive scenario, MBA and PGDM graduates have an advantage.

However, none of it would matter if you are not doing the course from the right institute. The right institute will ensure you receive up-to-date education and start your career in a company where you can learn and earn well. So, after deciding between MBA, PGDM, and MMS, you can put some effort into finding the right institute.

You can save yourself some effort and get in touch with the counsellors at ASMs Institute of Business Management & Research (IBMR). The institute offers both an MBA and a PGDM. The MBA course is highly rated as one of the best in the state, and the best feature of the PGDM is its dual specialisation, which gives you expertise in two subjects. Admissions are open, but fill up fast, so get in touch soon.

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