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MBA v/s PGDM – Which one to choose?
Many management aspirants are confused as to MBA is better or PGDM, and hence, this article provides an answer to this question
Should I do MBA or a PGDM? This query is the first query that comes to the mind of a prospective student who has just began to think about a management or business administration profession after successfully completing his graduation. One of the misconceptions prevalent in our nation is that MBA is much better than PGDM, because it is a degree while PGDM is a post graduate diploma. But what is the actual picture?
PGDM programs (Post Graduate Diploma in Management) are normally All India Council for Technical Education (AICTE) accepted and can be independent as well, but an MBA program is always associated to a University. Another distinction, a significant one, is that the course curriculum for PGDM is powerful and can modify every phrase as per the requirements of the market, but MBA program has to adhere to the Syllabi of the University and changes after several decades.
Nowadays, PGDM program from Top MBA colleges in India is regarded more valuable than the MBA, due to their modern strategy, versatile subjects and market importance whereas the MBA programs are suffering from obsolete syllabi and deficiency of personalized strategy. Post-Graduation Diploma in Management (PGDM) is one of most recommended company control courses nowadays, which guarantees great profession possibilities. PGDM course is depending on the most efficient information of managing abilities that stay the first need of any company.
The PGDM program from Top MBA colleges in India such as IILM (Institute for Integrated Learning in Management) offer the best value by resulting in better positions in the job market after completion of the well-tailored industry incorporated program and by offering market appropriate information that is consistently modified. This AICTE approved colleges has excellent infrastructure facilities as well as has full Wi-Fi campus.
Along with this, the well-furnished and air conditioned classrooms, conference rooms, seminar halls, library contribute to the imparting of knowledge to the students and the international study abroad program, internships add to the industry experience of the candidates.
The PGDM program which is offered at this Top MBA colleges in India is one of those programs which offer international industry exposure and thus help the students to stay ahead in this competitive world. This program which is equivalent to the MBA program is a better option to grab the profitable pay package in the industry.
PREREQUISITES FOR ADMISSION INTO AN MBA PROGRAM
Masters of Business Administration widely referred to as MBA is one of the most prestigious courses to pursue in today’s time and with ample reason. It is a detailed study of the various aspects of business and management – marketing, finance, human resources, international business etc. Topics from other dimensions and fields like Psychology and Economics are also taught.
If you are interested in doing MBA, there are certain specific requirements that you need to fulfill to get admission into a recognized university.
BACHELORS DEGREE
A 3 or 4 years bachelor’s degree in any subject is to be completed before you can pursue MBA. The degree need not necessarily be in business only. Most MBA programs have pre-sessional courses which touch up on the basics on business.
BASIC KNOWLEDGE
Though a specific degree in business is not needed, basic knowledge about business and its sub-dimensions is important to pursue this course. MBA is a detailed study of these sub-dimensions and highly intensive. Thus, knowing basics of business is important.
MINIMUM MARKS
It is compulsory to maintain a certain grade or a level of percentage in your bachelor’s course for admission into an MBA course. This level varies from college to college and also on what course you have pursued. Usually, top MBA schools demand higher grades along with active participation in extra-curricular activities too.
COMPETITIVE EXAM SCORE
Most colleges also require students to appear for competitive exams like CAT or GMAT. These competitive exams test the students’ analytical, logical, reasoning and language skills. Top management colleges have very few seats and thus, it is important to score well in these competitive exams too.
EXPERIENCE
Prestigious MBA schools also require students to gain some industry experience for a minimum of 2 or 3 years before pursuing the course. This experience will give them clarity about the choice of specialization. A first-hand experience in the industry is also important to gain certain practical skills that are required to pursue MBA.
Benefits of acquiring an MBA degree
An MBA degree offers many personal and professional benefits. It improves your communication and leadership skills and opens up a world of opportunities. Whether you work in management, finance, technology or marketing an MBA degree will increase your financial rewards.
People who successfully acquire an MBA degree are always a step ahead of their peers. MBA gives them an edge over others. Here are some benefits pursuing an MBA degree can give:
- New Career Paths: Changing your career stream can be impossible if you’re from the same working industry. Gaining new skills can help with the transition from one career path to another. An MBA will provide the skills need to be a qualified candidate if you’re considering other positions. You should choose the best colleges for MBA degree to have an advantage over others.
- Increases Earning Potential: Graduates who secure an MBA degree can understand and see the pay difference between their pay packages and of the ones who haven’t. Research shows that after acquiring an MBA degree graduates average pay increased by 80%. This clearly shows the financial benefits.
- High Employment Opportunities: MBA degree is a powerful tool that increases the chances of job opportunities. Employers prefer hiring MBA graduates because of their vast pool of knowledge. For some employers an MBA degree is a benchmark because MBA graduates bring in fresh perspective and innovative solutions to business problems.
- Enhances Professional Skills: An MBA provides great theoretical and practical knowledge of how businesses operate which is one of its biggest advantages. It also enhances an individual’s soft skills like teamwork, leadership and communication which come handy in the professional space and make them a valuable member of their team. IILM is a great college that provides great MBA programs in Delhi. You can go through their website for more details.
- Expands Professional Network: A strong professional network is one of the greatest and most valuable assets an MBA graduate can have. It helps provide a kind of network that enable the MBA graduate to gain access to new job opportunities and can be useful to start their own business venture.
Highly Required Skills In The Management Field
A career in management means a time of full financial stability and job security. Management career is one of the most rewarding careers in India that many young people aspire to get into.
A degree from the best MBA colleges in Delhi NCR and brilliant skill set is what all it takes. Of course, hard work and persistence comes without even mentioning it.
If you are someone who is really passionate about making a career in the management field, then you must ensure that you have the right skills. You should also make an effort to make them stronger, sharper and better. But what are the basic skills that are essential in a career like management? Let us take a look and find out.
• Organizational skills: If you are not organized, you are not doing it right. That’s it. In a management career, whichever field you choose, being organized is paramount to carry out the tasks effectively. No matter where you are positioned at the hierarchy tier, ensure that you are organized at your desk and with work to deliver the best work to super bosses.
• Language and communication skills: How you deliver your ideas and opinions to the public is important. You must know the art to articulate well. Having strong communication and language skills will take you a long way in your career this way. Build strong communications skill and polish them well. Practice talking in front of the mirror or with people around to leave a lasting impression on other people. Speak well to garner the right attention.
• Ownership skills: It is really important that you own up and take responsibility of the work you do. Be confident enough to take up tasks and own them with full accountability, without feeling deterred.
If this intrigues you, then enroll to an MBA School in Delhi – IILM to build a successful career in Management.
Unorthodox Streams In MBA
Business management is never a simple task as it is almost impossible for every business to turn out profitable. Profit of one business thrives mostly on the loss of others. Therefore those whole handle the administration of the business have to ensure that they are always on the receiving side. Specialised courses of Business administration are being offered by all the MBA institutes in Delhi. There are mostly regular streams of MBA programs but some of them might sound new and are totally out of box ideas.
Environment Management: This is one branch of MBA which has evolved as a need of time. With the population rising in the world and spreading different types of pollution, it was time when someone took the initiative to help the world be a better place to live. A lot has been destroyed already with the type of air quality and water pollution. Noise pollution is also a hazard and has brought great damage to environment. The one who are trained in environment management help others understand the importance of saving the world and the ways to do it. Very few MBA institutes in Delhi offer this stream of management.
Rural Management: It is another altruistic branch of management where you are certain that it would not pay off as it would do in the traditional branches of MBA. This branch has to deal with the various aspects of rural developments and people employed through this stream generally tend to work for Non Profitable businesses
Disaster Management: It was only due in time that such courses evolved. There has to be specialised people who deal with research and development to prevent disasters. Prevention can mostly be done only in the case of manmade disaster. In case of natural disaster these experts deal with the techniques to manage the minimum loss of life or property.
What are the ensuing benefits after doing an MBA?
A degree in management is one of the most popular choice being made by majority of people. There are legit reasons behind this growing trend. The most common reason being greater career opportunities and better pay packages. Therefore, an MBA is indeed a brilliant choice for all aspiring professionals. However, apart from the obvious reasons and benefits there are other aspects too that entail this line of studies. To find out about these aspects take a look at the list we have compiled listing various other benefits that follow if you pursue a degree in this field.
1) Tremendous communication skills
After you finish your degree from the top 10 MBA colleges, as you begin your career as a management professional you will undergo a lot of changes on the personal as well as on the professional front. Among these changes the most prominent one will be in your communication skills. With increased experience and work exposure your communication skills will improve.
2) Greater interpersonal skills
As your communication skills improve, your people interaction skills also undergo improvement. The management field operates in such a manner that is involves dealing with people from various aspects on a regular basis.
With improved communication skills, your people interaction skills will also improve. During the course work special emphasis is laid on this aspect. But it is the actual practical field and work experience that leads to enhanced people interaction skills.
3) Detailed exposure to various fields
The course structure of an MBA is incredibly versatile. Top MBA colleges in India for instance are designed in such all individuals will be exposed to all fields like marketing, finance, human resources etc. It is towards the end of the course that an individual has to choose his area of specialization.
While choosing the right institute for yourself conduct a detailed research. One of the best colleges for this course is the IILM Institute for Business and Management. Take a look at their syllabus and curriculum to make the best choice.
Why pursuing marketing could be the best career decision
It is a common problem face by almost all MBA aspirants to zero in on one speciality. The variety of streams available at MBA covers Marketing, Finance, International Business and Human Resource Management.
It is normal to be confused as the fields themselves are only name on the paper, what follows upon graduation is completely different story. Each stream has more job profiles than the number of popcorns in a bowl. But marketing is one field that is no less than perfect for those who want a challenging, dynamic and creative job before anything else.
Listed below are reasons as to why it can be the dream career:
Dynamic crossroads
With the advent and rapid adoption of internet services, marketing has found itself standing at the crossroads of digital and traditional approaches. A major chunk of people are now shopping on ecommerce websites. And the trend is leveraged by social media platforms that are being used by companies to achieve marketing objectives. A graduate from the Top MBA College In Delhi has the advantage to get best of both worlds.
Creativity
The rise of digital has redefined the creativity in marketing. Earlier there was a fight for finding the perfect spots for advertisements but now the fight has gone digital. But it’s not restricted to only social media. Mobile and apps, online advertising, SEO – search engine optimisation, RSS feeds, online reputation management, blogs, viral marketing, email marketing, affiliate marketing and branding – all these paint the marketing landscape in the modern age. The impact is that it give companies not just the new markets but also a whole bunch of innovative marketing vehicles to play with.
Connection with masses
Marketing is all about communicating your message through to the masses and convincing them to purchase your product or service. It requires regular communication with people and the marketer needs to find ways to engage the audience. Marketers develop skills PGDM Colleges In Delhi and other cities that help them stay afloat.
Growth
Marketing is one of the fastest growing sectors and that brings good news for the professionals as growth for the industry means growth for them. Typically marketers are employed by agencies and product and service companies. A talented and hardworking guy can easily find a role in the front end or the back ends of the job with tremendous growth opportunity.
Best MBA Colleges in India
Competitive exams hold a very prestigious importance in India. We are known to organise and prepare for some of the toughest competitions in the world. Exams like Union Public Service Commission and Common Admission Test rank among some of the toughest aptitude papers. While UPSC is for civil services, CAT is taken to get admission into the top business schools in India. Other important MBA exams are XAT, MAT etc.
The latest rankings of the top 10 MBA institutes in India are no different from what they were a decade ago. The finest MBA colleges in India are as follows:
1. Indian Institute of management. Ahmedabad: An MBA aspirant would not be surprised to see IIM Ahmedabad making it to the top of the list. This is the finest business school we have in India. This institute produces hundreds of great businessmen and managers every year and has given a gem to the world of cricket, that every cricket fan must have heard of, Mr Harsha Bhogle.
2. Indian Institute of Management, Bangalore: Another IIM making to the top. A great campus to study at. It is situated in the heart of the city and has an excellent curriculum.
3. Indian Institute of Management, Kolkata: Before the list of top 10 ends all the IIM’s would be covered into the list. However, since long IIM A, B and C have been the top of the list, with C being Calcutta, now Kolkata.
4. Indian Institute of Management, Lucknow: Lucknow being one of the larger cities of India is home to yet another IIM. Another beautiful campus and extraordinary faculty.
5. Xavier Labour Relations Institute, Jamshedpur: The first college to make it to the list which is not an IIM. A very Prominent institute from Xavier group of institutes and conducts its own entrance examination, XAT.
6. Faculty of Management Studies, New Delhi: Also known as FMS, is an institute affiliated to University of Delhi. This college is also situated in the heart of Delhi and is responsible for producing some of the best business minds in India.
7. Indian Institute of Management, Kozhikode: Well, The list is back to IIM’s and IIM, Kozhikode is a great institute to get admitted into. Business studies is the speciality and has an ambitious list of alumnis.
8. Indian Institute of Management, Indore: The final IIM makes it to the number 8 in list of best colleges in India.
9. SP Jain Institute of Management and Research: Another wonderful campus and one of the hundreds of colleges in India which can match up to the level of any Indian Institute of management.
10. Indian Institute of Foreign Trade, New Delhi: One of the few colleges in India which specializes in foreign trade. If you have chosen your career to be in Foregn Trade and business start preparing to get into IIFT.
Why Majority Students Opt For MBA?
There has been a tremendous shift in the number of students opting for MBA. Universities are offering plethora of options as majors and electives such as Marketing, Human Resources or Finance, New Media and what not. This serves to the best of student’s interest and allows them to expand their horizon of knowledge. Here is why MBA has taken over other subjects and stands as the most preferred one:-
- Better Salaries – It is a given fact that MBA graduates score more salaries than normal graduates and beat them at the placement level itself. They get placements at leading corporate chains and FMCGs at senior managerial positions. The major reason behind this is that leading organisations seek qualified and trained B-school graduates who can tackle everyday corporate woes with ease.
- Higher Positions – Candidates from top B Schools in India not only get better packages but higher positions too such as Senior Managers, Senior Management Trainee or Global Engagement Manager. These job roles hold more power and responsibility compared to others.
- Networking Opportunities – MBA students stand to have consolidated networking opportunities due to multiple conferences, events, talks, seminars, lectures and sessions they get to go for. Plus they also get access to past alumni of their colleges which help extensively.
These three reasons have added to the fuelling of MBA courses as a choice. What matters most is that top 10 MBA institute in India make it compulsory for the students to opt for industrial trainings and internships during the course tenure. This helps students to gain knowledge beyond classrooms. These experiences not only add to their resume but helps in delving deeper into the happenings of corporate world and to later tackle them in real life.
Major Facets Of MBA Course
After studying commerce in high school, many students dream of becoming a successful entrepreneur in future. In order to make a mark in this field, the best way is to study MBA! Hence, students should pursue Masters of Business Administration (MBA) and must know the elementary requirements of this course. They must read and research on of the process involved in preparing for it, for example- what tests they need to take? Which colleges are good? These basic questions are essential, therefore, read on the following guidelines for answers:
Exams: you need to clear one of the entrance tests like CAT, MAT, NMAT, XAT, ATMA, CMAT etc., in order to get enrolled in one of the best Colleges in Delhi for MBA. Several institutes offer classes that help you prepare for these tests, so take admission in one or prepare yourself by reading the material online. An institute is always a better option as they give the students few mock tests as well at regular intervals to prepare them for the final test.
Good B-Schools: once you clear the exam you get to choose your college where you will study MBA course. If you live in nation’s capital, consider yourself blessed as some of the Top MBA Institutes are in Delhi. IILM is one such example that would help you to grow in every aspect.
Choice of subjects: you can choose your specialisation as per your interest. Be it marketing, finance, human resource, international business, entrepreneurship or digital marketing- the choice is yours. The idea is to choose the specialization based on your field of interest and skill.
Remember that you must stay devoted and work hard to become a successful entrepreneur and MBA is just a ladder towards your goal. Therefore, MBA is one of the most reputed as well as tough post graduate course.
IILM Institute Delhi - Top b Schools, Best MBA Colleges in Delhi, India 