PGDM vs PGPM: Understanding the Difference
Higher education in business administration is a good option for students who want to pursue a career in commerce and management-related fields. However, for a successful career in business management, you need to have market-relevant skills and proper knowledge of the industry. While MBA remains the most popular choice among students who wish to pursue higher education and a career in commerce, other management programs such as the PGDM program and the PGPM course are rapidly gaining currency among students. In this article, we will discuss the differences between the PGDM and PGPM courses so that you can make an informed choice while you navigate your career path.
Differences between PGDM and PGPM
Let us go through the differences between the PGPM and PGDM programs in detail by discussing the various aspects of the two courses through a comparative analysis of PGDM vs PGPM courses.
PGPM vs PGDM Overview
PGDM or Post Graduate Diploma in Management is a two-year full-time academic program for a diploma degree in business management. This program is available for both fresher graduates as well as working professionals who want to expand their scope of expertise and bolster their resumes. PGDM aims at imparting holistic knowledge to the students about industry practices and business acumen.
Various concepts of business administration are introduced in the course, and the theories are solidified through projects, case studies, and internships. This empowers the students to corroborate their theoretical knowledge with practical experiences. The primary objective of the course is to cultivate business management acumen in students with minimal prior knowledge in the field of business management.
PGPM or Post Graduate Program in Management is a one-year academic curriculum also known as PGP or EPGP under different institutions that offer the course. PGPM is designed to facilitate the technical progress of professionals with a minimum amount of work experience. Young professionals often pursue PGPM courses to accelerate their growth to managerial positions.
Often companies fund the PGPM courses for promising employees to get them acquainted with the latest industry trends and business methodologies before promoting them to higher ranks. Since the course is of short duration, extending to approximately a year, it compels the student to withstand high pressure in a small time frame and develop the momentum needed to lead a team with informed decisions under stringent deadlines. Hence, it builds the necessary skill to thrive in highly demanding corporate environments.
PGPM vs PGDM Admissions
The eligibility criteria for admission into PGDM courses require a candidate to have acquired an undergraduate degree with the minimum marks prescribed by the institution. Admission of a candidate is also contingent on the marks acquired in entrance exams like CAT, XAT, MAT, NMAT, and SNAP, among others. The candidates who are shortlisted undergo personal interviews, and evaluations, and have to perform several group exercises before admission.
Admission into PGPM courses requires the candidates to have a good academic record along with an undergraduate degree with the minimum marks prescribed by the institution. The aspirant needs to have a minimum amount of work experience as this is a course designed to facilitate the career growth of working professionals. Apart from this, the scores acquired in entrance tests like GMAT, and CAT is also evaluated before considering the aspirants for admission.
PGPM vs PGDM Curriculum
The PGDM course extends for 2 years, divided into 4 semesters. The first three semesters are designed to allow the students to immerse themselves into the several concepts associated with business administration across several industries. These courses are specifically designed for freshers with undergraduate degrees or young professionals with little work experience.
While the exact syllabus differs across institutions it usually comprises subjects like Marketing, Finance, Account Management, Human Resources Management, Organisational Behaviour, Operations, Information Systems, Business Analytics, and Business Strategy, to name a few. Apart from the core subjects, the students are required to choose two elective subjects in a domain they want to specialise in. This enables the students to have an extensive understanding of a particular sector in business management.
The PGPM course is aimed at developing the business acumen of professionals who are already acquainted with industry practices. Hence the course offers a mode of education which is based on blended learning incorporating theoretical knowledge and practical experience that may involve field trips, case studies, industry exposure, research work, and corporate internships. The course is divided into two semesters emphasising experiential learning and a mentorship-based curriculum with subjects such as Financial Accounting, International Finance, Corporate Finance, Business and Labour Laws, Banking, Data Analytics and Visualisation, Operations, and Human Resources Management, etc.
PGPM vs PGDM Salary and Scope
There are several employment opportunities for candidates with a PGDM degree in both the private and public sectors. There are multiple roles to be pursued by the PGDM students including academic research and teaching along with C-level managerial positions leading teams in large-scale international MNCs. A PGDM graduate can consider employment opportunities in roles such as a Business Consultant, Financial Analyst, Administrative Executive, Financial Manager, Human Resources Manager, Marketing Executive, Public Relations Officer, and Project Manager, among others.
According to some reports, the average salary for a professional with a PGDM degree is about INR 8 lakhs to INR 20 lakhs per annum depending on the field of specialisation, the position offered, the recruiting organisation, the work experience and performance, and the specific job responsibilities.
In recent years the PGPM course has gained substantial popularity among corporate professionals. It is an advanced course since the aspirants join in with work experience. PGPM students have ample career opportunities in diverse fields including IT, Finance, Marketing, and Human Resource management. The successful PGPM graduates are fit for several managerial roles. Moreover, because of the value a candidate brings to the table for a company with the technical knowledge gained from the PGDM course, recruiters are often inclined to pay higher salaries and added compensation. Employees usually get a 30%- 40% salary hike based on their experiences and specialisations after taking a PGPM course.
While both the PGDM program and the PGPM course have significant competition, these also offer a massive step up from a general bachelor’s degree. These courses provide in-depth knowledge of business processes, organisational structures and relevant market information. Besides, large-scale conglomerates and start-ups alike prefer candidates with a PGDM or a PGPM degree for various managerial or leadership positions across several vertices of the industry. For more accurate information on these courses and their innate similarities and differences, get in touch with an expert from Sunstone today.
Sunstone is a leading higher education services provider that works with academic institutions in upskilling students for employability. Sunstone offers career-oriented training interventions for undergraduate and postgraduate students at 40+ institutions across 30+ cities.
Sunstone’s training programs are industry-endorsed to enhance employability. These programs are designed for hybrid delivery with an unparalleled focus on soft skills and personality development. Sunstone’s focus is to provide students with a holistic educational experience.
Frequently Asked Questions (FAQs)
1. What is PGDM?
PGDM or Post Graduate Diploma in Management is a two-year program in business management and commerce for undergraduates and freshers with an extensive curriculum on the various concepts of business administration such as marketing, finance, account, labour laws, organisational behaviour, etc.
2. What is PGPM?
PGPM or Post Graduate Program in Management is also known as PGP. It is a one-year program focusing on business management for young professionals with minimum work experience to accelerate their career growth in specific domains of the business.
3. What are the key differences between PGDM and PGPM?
The major difference between PGDM and PGPM is that while PGDM is a 2-year course for both freshers and professionals, PGPM is a one-year program specifically curated for working professionals with experiential modules.