Pursuing a diploma in management may confuse students which course is better - PGPM vs PGDM? This article explains the difference between PGDM and PGPM in all aspects.
Developing a future is an important aspect of students' lives. Getting appropriate expertise and adequate experience is critical to staying ahead of the game and progressing up the organizational ladder. As a result, more young people choose to take courses that can help them advance in their careers, with a postgraduate qualification in management being at the top of the list. However, there are numerous courses available in management education, which sometimes leads to uncertainty among management aspirants. As a result, most professionals often find themselves in predicaments and making poor career decisions.
Although the advantages of following an MBA programme remain, the most common, the PGPM and PGDM programmes are rapidly catching up. PGDM is a 2-year management diploma program created for freshers in the industry, while PGPM serves the applicants with some work experience under their belt. Applicants looking to apply for a postgraduate diploma course must carefully consider the differences in PGPM vs PGDM to understand their best.
Also Read on MBA vs PGDM
PGPM vs PGDM - Key Highlights
The Postgraduate Diploma in Management (PGDM) is a two-year full-time programme intended for freshmen or applicants with fewer than two years of job experience who choose to pursue a career in business management. The PGPM is a one-year MBA programme aimed at creative and goal-oriented individuals with at least 2-5 years of work experience. They typically enrol in PGPM courses to develop their skills and advance their careers. Let us take a look at some of the key differences between the courses.
|
Criteria |
PGDM |
PGPM |
|
Full-form |
Post Graduate Diploma in Management |
Post Graduate Program in Management |
|
Duration |
2 years |
1 year |
|
Work Experience |
None required |
2+ years expected |
|
Fees |
INR 1 - 20 LPA |
INR 10 - 25 LPA |
|
Salary |
INR 8 LPA |
INR 15 LPA |
|
Eligibility Requirements |
|
|
PGPM vs PGDM - Overview
PGDM is a two-year course targeted and designed to help younger professionals with little or no work experience ease into the business world. The concepts of business, strategy, management are built from the grassroots levels as a part of their curriculum. Students gain a comprehensive knowledge of management and company principles. Students would then put these ideas into practice through case studies, assignments, and internships to obtain realistic experience. The key goal of this course is to ensure that students with little or no career experience have a thorough understanding of how businesses operate and build the skills they'll need to succeed.
Read More on PGDM
PGPM, on the other hand, is a diploma course designed for industry professionals who have significant work experience and are looking to upgrade their existing skills. The course leads them through better skill management, higher levels of decision making and leading organizations. Employers can finance this course for promising employee to train them in the latest business methodologies and practices before promoting them. Since the course is just 12 months long, students are encouraged to create momentum to perform well to make well-informed choices even under pressure. This is an ability that can come in handy in high-pressure situations.
Read More on PGPM
PGPM vs PGDM - Eligibility
To be eligible for a PGDM program, students must fulfil certain criteria. They must have completed their graduation from any stream from a recognized institution, among other criteria mentioned below.
- Students must have scored 60% in their graduating exam from any stream
- Students must clear their cut off scores in competitive examinations like CAT, GMAT, CMAT and MAT.
- Students may be called for additional rounds of interviews, group discussions and other tests before being granted admission.
Also Read on PGDM Admission
To be eligible for a PGPM program, students must fulfil all the criteria mentioned above and the mandatory minimum work experience requirements of the institution. This differs from one institution to another, so students must check their respective desired B-School requirements.
PGPM vs PGDM - Benefits of Pursuing
A PGDM and a PGPM program are beneficial to students only when they can study the course at the appropriate time and utilize the full resources available to better understand the business world.
Benefits of pursuing PGDM
- Skill Development
PGDM program can help students develop holistically by involving them in the organization of events, fests, and extracurricular activities. These build up leadership skills, team spirit, organizational skills, and personality development, essential for success.
- Course Curriculum
For fresh graduates, pursuing a PGDM helps them understand the business world's nuances and challenges before entering it, thus making the course beneficial. They are more aware of the strategic implementation of concepts and have practical knowledge from the field, which helps them understand their work better. This also gives them a competitive edge over their peers.
Benefits of pursuing PGPM
- Financially Beneficial
Many PGPM students are enrolled in the programme because their employers pay for their tuition. If PGPM students pay for their courses themselves, the programme is not a full-time residential programme that saves money. PGPM professionals, on the other hand, see higher returns compared to PGDM students due to their work experience.
- Networking Opportunities
A PGPM program brings together individuals from the industry having similar interests, goals and career orientations. This helps them create a network of possible connections with like-minded individuals, which would be extremely beneficial.
- Career Benefits
PGPM is helpful for candidates who have been a part of the workforce for more than five years. The course is designed to delve deeper into strategic planning and implementation over the theoretical aspects. This gives them the necessary skill set to be considered for higher positions in management.
PGDM vs PGPM - Job opportunities
PGDM and PGPM programs have a stark difference between them when it comes to their job opportunities. Students can expect good job roles and salaries in PGDM courses, but they are limited by their lack of experience in the field. PGPM students can seek higher roles due to their experience and hence better opportunities.
As PGDM is a full-time 2-year course, there is also the scope of placements after completing their education. Students must be mindful that their career opportunities as freshers in the market would not include higher management positions but jobs that are at par with their qualifications.
PGPM, however, is a course that requires students to carry mandatory work experience, which changes their placement opportunities. If these students are not industry-sponsored candidates, they can be absorbed in the market in higher management positions for higher salaries.
|
|
PGDM |
PGPM |
|
Domains |
Human Resource Management, Marketing, Finance, Business Development, Sales, Operations, Data Analysis, etc |
Human Resource Management, Marketing, Finance, Product Management, Brand Management, etc |
|
Job Roles |
|
|
Read More on PGDM Jobs & PGPM Jobs
PGPM vs PGDM Salaries
PGDM students enter the job market in lower managerial streams. Their job roles are not as expansive, and they can expect salaries to be in the lower range of the spectrum. This is also dependent on their stream of specialization, job roles and profile. PGPM students can demand packages that are higher by at least 25%.
|
Job/ Role |
Salary |
|
Human Resource Manager |
INR 7.7 LPA |
|
Operations Manager |
INR 8.28 LPA |
|
Business Development Manager |
INR 7.43 LPA |
Read More on PGDM Salary
After completing a PGPM, however, people can expect up to 17% raise on their existing salaries within a year of completion. There is a lot of scope for increments in salaries for PGPM graduates as their career progresses towards higher levels of management.
|
Job/Role |
Salary |
|
Operational Manager |
INR 20 LPA |
|
IT Manager |
INR 20 LPA |
|
Project Manager |
INR 10 LPA |
Read More on PGPM Salary
PGPM vs PGDM: Which One to Choose?
Students may consider one program better than the other on an arbitrary basis, but the fact remains that PGDM and PGPM are very similar courses and offer similar benefits to students. The difference between the two courses lies in the fact that the PGDM program is created for industry professionals and freshers alike, while the PGPM program is made for industry professionals in mind.
Market Demand: Despite the pandemic, there has been a constant demand for industry professionals in management, specializing in finance, marketing, operations, etc. PGDM graduates can find career opportunities in many established companies and startups. PGPM graduates are needed in senior roles in organizations, and their skills and abilities to make strategic business decisions are extremely valuable in the market.
Better Salaries: Graduates with PGDM or PGPM diplomas would be likely to get higher salaries than people having an undergraduate degree working in the same field. Having a PGDM or PGPM also puts them in a position to negotiate better terms of their employment and salaries.
Both courses have their own set of advantages and disadvantages, as noted above, and students must fully analyze and understand which course benefits them the most to grasp all the benefits of a diploma in Management.
