MBA vs PGDM vs MMS - Which is Better?

Management studies are essential to run any organization successfully and take it to the pinnacle of success, and it's not easy as we think. Management studies are offered as undergraduate degrees, postgraduate degrees, and even postgraduate diplomas. Recent trends show us that postgraduate management studies are among the most opted and highly competitive fields for higher studies in India. There's a great amount of dubiety when it comes to choosing the perfect postgraduate management course. Students often have long debates on MBA vs PGDM vs MMS courses and opt-out of these.

MBA or Masters of Business Administration is the go-to management course for all types of graduates. MBA is one of the most coveted postgraduate courses, with around 8 Lakh aspirants competing to get a seat in premier universities. MBA fundamentally deals with management and administration. On the other hand, MMS deals with pure management studies. PGDM is a postgraduate diploma program derived from fundamental MBA concepts and offered as a short-term course.

In India, all three postgraduate management courses have equal reputations and demand in the job market. However, all three courses have a very different course structure and pattern, and students need to understand the nuances before approaching admissions. Long back, it used to be a debate on MMS vs. MBA, but the importance of PGDM in the market has paved its way into the student's minds. So let's emphasize these courses and compare them to find which one's suitable and the best course to choose.

Also Read on MBA vs PGDM

MBA vs PGDM vs MMS - Key Insights

Students often wonder where to begin, or analyze these courses to choose the best out of the lot. To answer these questions, let us understand some of the basic differences between the courses. As we already know that all the three courses have an equal reputation and have plenty of job opportunities in the market, we can use this information as an integral part of a comparative study. In the following table, let us understand some of the key differences between the courses :

Factors	MBA	PGDM	MMS
Full-Form	Master of Business Administration	Post Graduate Diploma in Administration	Master of Management Studies
Duration	2 Years	1 - 2 Years	2 Years
Eligibility	50% in undergraduate studies from any stream of study. Students should clear specified common entrance exams.	50% in undergraduate or postgraduate studies from any stream of study. Students should clear entrance exams.	50% in undergraduate studies from any stream of study. Students should clear specified common entrance exams.
Entrance Exams	CAT, MAT, GMAT	XAT,GMAT,CMAT	XAT,CAT, MAT
Course Fees	INR 4 - 20 LPA	INR 6 - 15 LPA	INR 1 - 5 LPA
Average Salary	INR 7 LPA	INR 8 LPA	INR 6.88 LPA
Area of Study	Business Administration and Management	Practical application of management studies	Management Studies

MBA vs MMS vs PGDM - What it is All About? 

Students interested in management studies often get confused by not figuring out what MBA or MMS, or PGDM is. To be short, MBA is the most popular out of the lot and is one of the most reputed management degrees globally. The MBA stream is very broad and offers a spectrum of specializations for all types of graduates from various backgrounds. The course provides all theoretical aspects of management and business administration strategies and specialized subjects in the management domain. All types of graduates generally prefer MBA due to its popularity and demand.

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PGDM is pretty similar to MBA, going by the common notion that it's an upgrade of MBA. However, a postgraduate diploma in management offers more practical based learning of management and administration concepts. Autonomous institutions and some colleges offer PGDM, but recognition is offered only for PGDM courses offered by AIU-affiliated universities and institutes. The course duration heavily differs from one institution to another since it's a basic diploma course.

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On the other hand, MMS is a very different type of course compared with MBA or PGDM. Master of Management studies may sound similar to MBA, but the concepts offered in MMS are purely management-oriented and don't have any subjects of study related to administration. It offers exclusive knowledge on business strategies, finance management, HR management as a base, along with specialization-based subjects. MMS is purely a theoretical course like MBA and also has equivalent scope in the job market though it isn't popular as MBA.

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MBA vs PGDM vs MMS - Eligibility Criteria

The eligibility criteria for all three courses are pretty similar to each other. To get admissions into MBA courses, aspirants are required to meet the eligibility criteria charted by UGC. Some of the common eligibility criteria's include:

MBA

• The aspirant must've cleared undergraduate degree from any field of study with a minimum of 50% aggregate marks. 
• Along with that, admissions for MBA courses are primarily based on entrance exam scores. Therefore, students should ensure that they have national-level or university-level entrance exams with good percentile. 
• Furthermore, on clearing the entrance exams, aspirants should ensure that they clear the following GD round and personal interview round for securing admissions into their desired university.

Also Read on MBA Admission

PGDM

• A PGDM course requires a similar amount of scores in an undergraduate degree as an MBA. Students should hold a graduation degree with a minimum of 50% aggregate. 
• Aspirants should clear any of the common management entrance exams with a good score and percentile.
• Like an MBA course, the aspirants will be asked to attend a ground discussion round and a personal interview round based on which admissions are given to deserving students.

Also Read on PGDM Admission

MMS

• MMS course also offers seats to graduates from various fields of studies and streams. MMS is generally opted by students interested in pure management, which constitutes the major difference between MMS and MBA.
• Aspirants must secure from 45-50% in undergraduate degree and should clear national-level or university level examinations conducted by separate bodies.
• Some universities decide to conduct GD and interview rounds, while some offer direct admissions to the coursework. Aspirants should be ready for GD and interview round if they are suddenly called.

MBA vs PGDM vs MMS - Course Curriculum

To compare and contrast two or three courses simultaneously, we must understand the curriculum and the course structure. The course structure offers more details about the course, which helps aspirants to sort out their desired course from the rest.

Let us first understand the course structure of an MBA. As we all know, MBA is a two-year postgraduate management degree that is split equally into four semesters of study. Most of the concepts listed in the curriculum are theory-based, along with a few computer-related practical sessions. Listed below are some of the generic topics and subjects which aspirants can pursue during the course:

MBA Subjects:

• Business Statistics
• Human Resource Management
• Finance Management 
• Organizational Behavior
• Project Management
• Products and Service Management 
• Consumer Relation Management
• Management Analytics
• Mandatory 6-month internship

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PGDM is a diploma course with an unstable timeline. PGDM course duration depends on the university that offers the course. UGC has provided a blueprint for the course, which states that the course can be offered either as a two-year course with four semesters or a single-year course with two semesters. Some of the common subjects listed by UGC are given below.

PGDM Subjects:

• Marketing and Consumer Behaviour
• Business Statistics
• Financial Reporting and Analysis
• Operations Management
• Analyzing and Mitigating Risk
• Strategic Management
• Risk Analysis
• Organizational Behavior
• Finance and Accounting 
• Training

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MMS course structure is similar to MBA, as the course is pursued for two years and is split into four semesters of study. The concepts offered in this course are purely theoretical and are much oriented towards managerial studies, contrasting to MBA. Some of the generic subjects offered in the course are given below.

MMS Subjects:

• Managerial Economics
• Market Management
• Perspective Management
• Human Resource Management
• Strategic Management
• International Business
• Operations Research
• Business Research Methods

Read More on MMS Syllabus and Subjects

MBA vs PGDM vs MMS – Specializations

Management courses like MBA and MMS consist of several specialization domains from which aspirants can opt. These specialized studies offer more knowledge on the application of management studies in various domains. Some of the top MBA specializations offered across top universities across the country include:

• MBA in Marketing
• MBA in Finance
• MBA in Business Analytics
• MBA in Sales and Marketing
• MBA in Human Resource 
• MBA in Supply Chain Management
• MBA in Project Management

Some of the top PGDM specializations offered include:

• PGDM in Operations Management
• PGDM in Finance
• PGDM in Information Technology
• PGDM in International Business
• PGDM in Systems Management
• PGDM in Retail Management

Some of the top MMS specializations offered include:

• MMS in Marketing
• MMS in Finance
• MMS in Sales and Marketing 
• MMS in Operations 
• MMS in Healthcare Management 
• MMS in Supply Chain Management

MBA vs PGDM vs MMS - Scopes

It is pretty quick to say that all the three courses ideally lead to the same destination, albeit its specializations. Specialization opted makes the key difference in the domain under management, but all three courses ultimately lead to a career in the management and administration sector. MBA offers more specialization streams than the other, often securing diverse job scopes and opportunities for the graduates.

Read More on MBA Job Scope

PGDM is moreover a practical degree and has an equal reputation as MBA in the job market. Contradicting, PGDM graduates enjoy more salary packages than MBA graduates on an average basis due to the demand for practical knowledge in the field. Just like MBA, PGDM offers room for graduates to opt for PhD-level courses in management. PGDM doesn't have a broad stream of specialization like an MBA degree, but it has more value in the core management subjects like marketing, finance, analytics, etc. than the MBA degree.

Read More on PGDM Job Scope

MMS is very different when compared to PGDM and MBA. MMS graduates have good job prospects in the management sector, but they are neglected when it comes to management and administration-based jobs. MMS graduates have more knowledge of management techniques and strategies than MBA graduates, which helps them occupy top management positions in prestigious companies.

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Some of the job scopes and areas of employment for the graduates of this course are given below:

	MBA	PGDM	MMS
Employment	Management, Business Administration, Marketing, Media, Human Resource, IT Management, Medical Science, Law, etc.	Business Administration, Marketing, Sales, Human Resource, Business Development, Business Operations, Brand Management, etc.	Educational Institutes, Banking Sector, Marketing, Sales, Financial Organizations, Educational sector, etc.
Designation	Project Manager, Business Development Associate, Area Sales Manager, HR Manager, IT Manager, Digital Marketing Specialist, etc.	Accounts Manager, Branding Manager, Management Consultant, Market Research Analyst, etc.	Bank Manager, Area Sales Manager, Finance Manager, Operations Manager, Marketing Executive, Business Strategist, etc.

MBA vs PGDM vs MMS - Salary

The average salary for graduates depends on several factors, including job designation, job sector, and company reputation in the market. Among all, it may seem that MBA graduates earn more due to their popularity, but recent trends don't say so. The average salary of MBA graduates ranges from INR 7 -12 LPA across various sectors for freshers. Payscale doubles in government sectors and proportionally increases as their experience in the field.

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The average pay scale for PGDM freshers is quite similar to that of MBA freshers. Graduates can earn between INR 8 - 15 LPA initially, based on the sector they're employed in. PGDM graduates also have marginally good scopes in the government sector, and they're entitled to earn twice as much as they earn on an average basis. Management for the public sector is not easy as we think, and it does exactly a good pay scale for graduates.

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MMS has a marginally similar pay scale as compared to MBA graduates in the current job market trends. MMS graduates get into good private sector organizations in top designations with an average pay of INR 6.33 LPA, which depends on their hired company and the role offered. MMS graduates can earn up to 16 LPA in premier organizations and MNCs.

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MBA vs PGDM vs MMS - Top Colleges

Postgraduate management studies are one of the most popular career paths opted by lakhs of Indian students upon completing their undergraduate studies. MBA is India's most popular postgraduate study, with around four lakh+ students getting admitted into the program across various universities in India. Some of the top MBA colleges in India are:

• IIM Ahmedabad
• IIM Bengaluru
• IIM Indore
• IIM Kozhikode

Some of the top universities that offer PGDM in India include:

• IIM Calcutta
• Shailesh J Mehta School of Management
• XLRI Jamshedpur
• FMS Delhi
• IIT Kharagpur

Some of the top universities that offer MMS in India include: 

• Jankidevi Bajaj Institute of Management Studies
• IIM Ahmedabad
• IIM Kozhikode
• IIT Bombay
• IIM Indore

MBA vs PGDM vs MMS - Which One to Choose?

One can choose MBA or PGDM, or MMS according to their career aspirations and requirements. MBA, in general, is most preferred over the rest due to the wide range of specialization it offers. In addition, MBA helps graduates forge a career in management based on their technical background of research background, helping them not lose touch with technical studies. On the other hand, PGDM and MMS offer more management-oriented studies and are the go-to course for students who are more into pure management and administration. Selection of stream is a painstaking task for aspirants as they need to analyze their needs and requirements. 

High Prospects: Pursuing a postgraduate management degree have very high prospects in the current job trends. There has been an increase in demand for management graduates among premier organizations and indigenous organizations over the past few years due to development in startup organizations across India. The recent pandemic has posed a serious challenge in finance and resources management, which has opened further job opportunities for crisis management and aversion. 

Techno-Management Scopes: Postgraduate management courses offer scopes in pure management studies and open avenues for technical management and research management scopes. Engineering and sciences graduates can opt for management degrees to strike a balance between technical studies and management. Techno-management eradicates the need for pure management people in technical areas like production, IT, manufacturing, assembling, etc., with a higher pay scale.

It is conclusive that all sets of graduates enjoy equal job scopes and opportunities in the job market. The choice ultimately depends on students' willingness and their plans for a successful career path.