Difference between MBA & PGDM: Which is better?

MBA, short for Master of Business Administration, is a Post Graduate Degree in Management. PGDM stands for  Post Graduate Diploma in Management. One often wonders why some colleges and universities offer MBA while others offer PGDM. The answer is simple:

• MBA is a Master’s degree and only recognized universities or colleges affiliated with such universities are allowed to offer the degree in Business Administration. Such universities follow one single curriculum designed for the course and offer other major degrees like Bachelor’s and Doctorate.
  
  
• PGDM is a course offered by colleges which are not affiliated with recognised universities or are not authorised to offer degrees. And therefore they offer Diploma courses which in a broader view come at the same level as MBA.

We then come to the inference that maybe we should always go for an MBA because it will have more value.

This conclusion arises because of the taboo around the word “Diploma” which in Indian context is not considered equivalent to a degree. But one surprising fact missed out by almost everyone is that there are major renowned colleges that are autonomous, not affiliated to any college and provide PGDM or PGP. These include top notch colleges like the IIMs and XLRI. These institutions never offer MBA instead they offer Diplomas in Management but they are the most sought after colleges in India for management courses. These autonomous colleges have advantages of their own. Because they are not affiliated with any university they are not bound to follow any particular curriculum and therefore they remain updated with the current scenario of industries and management thus increasing the quality level of their education. Not that the universities are outdated but their curriculum is updated once every 3-5 years and with the ever growing industries, keeping abreast with month to month changes in surrounding has become essential to keep up. Which is why autonomous colleges having a good brand name are preferred even if they offer PGDM over other MBA offering colleges.