Should I do MBA or a PGDM? This question is the first question that comes to the mind of a student who has just started to think about a management career post his graduation.
One of the myths existing in our country is that MBA is much better than PGDM. But what is the real picture? To create awareness amongst the aspirants on PGDM and MBA, MBAUniverse.com has launched the special series on ‘PGDM or MBA: Making the choice’. In this series we are bringing to you insights from Directors and Deans of top B-schools. The eminent educationists share with you the differences between the two streams of management education and also guide you on your future path.
We continue this series by presenting to you excerpts from the interview with Dr. P.V. Ramana, Chairman, ITM Business School. The B-school has seven campuses across India.
Dr. P.V. Ramana served in senior executive positions as MD in TTK Group and as a Chief Executive in GRASIM Group. He secured the Academic Collaboration of New Hampshire College to offer the MBA and MS programs in India in 1991 leading to the establishment of the first ITM program in Mumbai in June 1991. The ITM Trust (a public charitable trust) was founded in September 1993. He is also a highly reputed Management Consultant. He has served as President of Bombay Management Association (1998-99).
Excerpts from the interview:
Q. How are PGDM programmes different from MBA
A. PGDM programmes are normally AICTE approved and can be autonomous as well, but in case of MBA it is always affiliated to a university. Another difference, a major one, is that the curriculum for PGDM is dynamic and can change every term as per the demands of the industry, but MBA curriculum has to follow University Syllabi and changes in several years.
Q. What are the USPs of PGDM that make it attractive for the student community?
A. The PGDM programmes provide the best value by: leading to better placements, by providing industry relevant knowledge that is regularly updated, and by providing more contact hours (ITM has nearly 1100 contact hrs vs only 700 for MBA).
Q. Which do you think is superior: MBA or PGDM? ...and Why?
A. Without doubt PGDM is superior. I have cited the reasons behind this choice in my previous answer.
Q. Your advice to the aspirants.
A. Except for a few MBA courses like JBIMS or FMS most university courses are ranked below PGDM. PGDM programmes are slightly more expensive, but you can recover the tuition fees in the first 2 years of your service.
Stay tuned to MBAUniverse.com for more on ‘PGDM vs MBA’.
