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There is no doubt that building a career is an essential part of our lives. To stay ahead of the competition and move forward in the corporate ladder, having relevant skills and sufficient knowledge is imperative. Hence, many young professionals are opting to pursue courses that will enhance their career, with an MBA degree being at the forefront.
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That being said, there are multiple courses available in the management education space, which often creates confusion among many management aspirants. Hence, most professionals often fumble in dilemmas and make wrong career choices. While the benefits of pursuing an MBA course remains the most popular, two courses that are quickly catching up are PGDM and PGPM.
In this blog, we have provided an in-depth analysis and comparison of these two courses, which will help you make an informed decision while choosing a course that will be most beneficial for you.
Post Graduate Diploma in Management (PGDM) is a two-year full-time program designed specifically for freshers or candidates with less than two years of work experience who are looking to enter into business management.
As the course is for two years, students get an in-depth understanding of management acumen and various business concepts in detail. Students then need to execute these concepts with the help of case studies, projects, internships, and others to gain practical experience of how to use theoretical knowledge in real life.
The main objective of this course is to ensure students who have little to no professional experience have extensive knowledge about the workings of the business sector and develop the skills they will need to succeed.
Read our comprehensive guide about PGDM course to know more about career opportunities, scope, curriculum and benefits of the PGDM course.
Post Graduate Program in Management (PGPM), is a one year MBA program, which is also known as PGP, PGPM, EPGP and PGPX by different business schools. This course is designed specifically toward ambitious and target-oriented professionals who have over 2-5 years of work experience.
Typically, these working professionals opt for PGPM courses to enhance their skills and accelerate their career to managerial positions. Sometimes, employers fund this course for a promising employee to train the employee with latest business methodologies and practices before giving them a promotion.
As the course is only for 12 months, it encourages students to build momentum to work under pressure and make well-informed decisions even in tight deadlines. This is a skill that is extremely useful in highly demanding work environments.
Although both PGDM and PGPM are managerial courses, their target audience, subjects, and even duration vary considerably. If youre wondering which course is the best for you, we have provided an in-depth comparison below.
Here is the comparison between PGDM and PGPM:
A PGDM requires an undergraduate degree with a minimum score as well. Additionally, you will have to undergo and pass various group exercises, written abilities, and most recent CAT scores.
Despite these factors, admissions are also contingent on gender, prior work experience, and others.
To pursue a PGPM course, you need to pass and present GMAT/CAT/XAT/CMAT score and must have a good academic record from a recognized institute, along with minimum work experience.
In the PGDM programme, the first three semesters are generally dedicated to helping students gain an in-depth understanding of basic concepts across various business and management areas to help students gain an integrated learning experience. While it differs from college-to-college, some of the core courses offered during the PGDM are:
Additionally, students need to choose a minimum of two Core Elective courses in domains that they wish to specialize in. Throughout the course, they are given extensive knowledge about that sector.
As this course is aimed towards professionals who already have an understanding of the business and management sector, the structure of the course and the curriculum is unique and makes use of blended learning.
Besides theory classes, the PGPM course puts a lot of focus on internships and training, research work, field trips, industry exposure, etc., which makes it perfect for a student who already has experience.
A standard PGPM course is divided into six sessions and generally follows the curriculum mentioned below:
Companies are on the constant lookout for young and talented individuals who can help their business to success. Hence, there are multiple job opportunities for students who have completed their PGDM. Considering the value a student can add to a company with the knowledge they have gained from the course, companies are willing to pay high salaries and benefits. According to PayScale, the average salary for a professional with a PGDM degree is about INR 6,00,000 to INR 8,00,000. Of course, the salary depends on the field you choose and the job role that you get.
As the PGPM course acts as a value-adder to your portfolio, completing this course generally results in the employee getting a 30-40% salary hike, depending on their current offer. It largely depends on the college, placement offer, company credibility and the required skills & experience of the candidate.
There are a number of employment opportunities in the public and private sectors after completing the PGDM course. Right from going into research or becoming a professor, to being a C-level executive in an international company, a PGDM course can lead to multiple job roles.
Mentioned below are a couple of the most popular job roles that a PGDM graduate can consider pursuing:
In the past few years, the PGPM course has gained immense popularity with many companies hiring professionals who have completed this course with a salary offer that is at part with MBA candidates. This is because the PGPM course is focused on more advanced courses as the students already have relevant work experience.
PGPM candidates are offered managerial jobs in almost every sector, including corporate, MNC, IT, and even the finance sector.
In terms of studies, candidates can pursue higher education like a PhD in Management Studies or Business Management.
The average PGDM course fee range is from INR 1 Lakh to up to INR 20 Lakhs. That being said, the fees entirely depend on the college you choose, their affiliations, and placement scenarios.
The average PGPM course range is from INR 10,00,000 to INR 25,00,000. While the fees entirely depend on the credibility and popularity of the college you choose, most reputed private and government colleges charge a course fee of about INR 20,00,000.
A Post Graduate Diploma in Management course is created to help students develop crucial skills and capabilities that are required to be successful in managerial posts. Moreover, this course also helps students be responsive and sensitive to global issues. Some of the skills students develop are:
This course is more advanced and focuses on niche topics as the students already have relevant work experience and are looking for an opportunity to enhance their pre-existing knowledge. Hence, some of the niches in which the students skills are harnessed are:
After completing the PGDM course, students have multiple employment opportunities in both the public and private sectors. Additionally, they can even go into educational institutions and become professors for Management, Accounting Business and Soft Skills.
Considering the advanced level of skills students acquire after completing the PGPM course, the career options for them are huge. They are offered managerial jobs in almost every sector, including but not limited to corporate, MNC, IT, and the finance sector.
The PGDM course is highly sought after by aspiring students who aim to become successful managers or leaders. However, the course comes with its fair share of pros and cons as mentioned below:
The main advantage of completing a PGDM course is that it provides a much more practical approach to the students, even compared to an MBA.
The fees of the PGDM course is substantially higher as compared to its counterparts.
While the PGPM course is highly effective in providing knowledge to students and helping them build a successful managerial career, there are certain pros and cons to consider while seeking admission as listed below:
The biggest advantage of the PGPM course is that students can complete the course faster than an MBA and get the same value.
Moreover, the course is specifically designed for working professionals, hence, it provides many advantages in the job market.
The fact that the PGPM is a certification course limits the scope of higher studies.
Additionally, the certification is not recognized globally, hence, limiting your options in the global job market.
a) PGDM ROI
Now, the return of investment completely depends on the college you are pursuing it from, the company you get recruited by, and of course your skill set. Now, if you are a fresher, the package you receive might be comparatively lesser than the one you would receive if you had some work experience.
b) PGPM ROI
The same applies to this course as well. However, as this course is meant for working professionals, you might have a better chance at negotiating your package and get a higher one. This is solely because you have experience of working in a particular domain. But, remember, if you are switching a domain and have no work experience, your ROI will depend on your college, company, and your skills.
While both PGDM and PGPM are aimed to help candidates build a successful career in the managerial industry, there are many differences to make a direct comparison. Primarily, the type of candidate largely varies.
Hence, to decide which course is best for you, analyse your situation. For example, if youre new to the world of business, then pursuing a PGDM is the way to go. Similarly, professionals who have already set foot into the workforce and are looking to enhance their skills to advance their career should consider completing the PGPM course.
At ASMs IBMR, we go a step further and provide only the best dual specialization, which helps ensure you can be a master of two domains with just one degree. To know more about our courses and which one is the best for you, contact us today!