Presently, the planet earth is breathing economic transformation every single second. Today, if we see, every market from technology to education to art, everything has blossomed at a rapid rate. Overall, the offline market is soaring success with flying colours. Now, as the icing on the cake, thanks to the burgeoning online market in addition to the offline. It has fostered millions of companies on the internet itself. Indeed, such growth was a “pleasant-dream” in the earlier times, however a living reality today. How is it all supervised? What does it take to collectively expand globally to such heights? Let delve into the deeper insights to find how all this has become possible today.
Global Market Capital Analysis by Business Standard
As per the Business Standard report, the total stock market cap has reached USD 87.83 trillion in 2020, exceeding the total Gross Domestic Product of USD 87.75 trillion in 2019.
Now, your curiosity must be deepening into knowing as to how is it even possible? The idea is that every small-scale or a large-scale business is working like an engine. It comprises various departments which are streamlined to fulfil one goal. These departments can be technical, talent acquisition, marketing, operations, etcetera. To bind these seemingly different tasks may sound like a great hustle in itself. However, it is made possible with great ease through the art of Management.
Students these days would often hear the rise of Management graduates. Especially the ones holding a masters degree in this subject.
It is precisely because of the rising demand for such people. Every established corporation looks for versatile aspirants who can take their endeavours to new heights. Also, the business environment is full of ups and downs. It indeed calls for proper training for someone to enter the professional world. In terms of managerial/leadership roles, there are ample options out there. Check the list of various Management programs:
- Short term courses like a diploma- Students who wish to learn the fundamentals of Management must go for this course. These are short-term programs which provide a “know-how” of the functioning of this domain. Kindly note that a diploma course is open for high school pass-outs or graduates too. Compared to other programs, diploma offers a relatively limited experience but it can surely be translated into a good opportunity if gauged well. It is a great option for those who are seeking a training level job.
- Bachelors in Business Administration- Now BBA is an undergraduate Management course. Those who have passed their class 12th examination can start out their management journey through this course.
- Masters in Business Administration- MBA-This is a two years Masters course in Management. Students who hold a minimum Bachelor’s degree can go for this option. Working professionals can also choose to pursue an MBA course.
- Post Graduate Diploma in Management- PGDM is also a two-year management course that one can pursue after graduating from any streams. Freshers and working professionals can participate in this course.
Out of these, the course which has grabbed the eyeballs of many aspiring students lately is PGDM. Rightly, because of its flexible and industry-oriented approach, a PGDM program offers an excellent opportunity for the students to learn the dynamics of the management.
However, there is a good percentage of people who get confused about the difference between an MBA course and PGDM course. So before getting into the detail of Post Graduate Diploma Management program, here is a brief overview of the difference between PGDM and MBA course:-
(i) Now MBA is a degree course while PGDM is a diploma program. In fact, many students raise their subjective eyes to form preconceived notions on drawing a conclusion as to one being better than the other just because the former is a degree course while the other is just a diploma program. However, some of the premium institutes are offering a PGDM course. So it is always better to analyse before forming conclusions.
(ii) An MBA is more of a uniform program. It follows a particular instruction and systematic approach in its curriculum. Now, PGDM is an industrial-centric course. It intensively focuses on building soft skills. In fact, it is one of the challenging areas in India, that young students lack basic soft skills. Irrespective of immense talent, many of them fail to communicate it in a better way. Now, this is where there is an urgent to polish one’s soft skills. This is where a PGDM program, instils professionalism in the students to present them in a certain way which is valuable in real-life situations.
Both of these courses are an excellent option for the students to start out their professional journey. PGDM, being slightly flexible in approach, is being preferred more. So let’s dig in further.
What is PGDM? How is it different from other management courses?
So basically, a PGDM is a Post Graduate Diploma in Management. It is a two-year course which acquaints students from every aspect of management. With tied schedules, future leaders are put under familiar and unfamiliar circumstances during this course. They are not only imparted academically rich knowledge but also practical applicability of various concerts.
Differential Analysis of PGDM from the rest of the courses
As discussed above also, a PGDM program intensively focusses on building the soft-skills of students. This is one of the major reasons why it stands different from other management courses. While the diploma and BBA courses are undergraduate programs, PGDM happens to be a PG course. Taking a difference from the MBA course into consideration, PGDM program offers a relatively flexible approach.
What is the eligibility criteria to participate in PGDM?
Every university offers its own eligibility criteria in order to participate in a PGDM program. But some of the common preconditions are:-
- One must hold a minimum graduation degree.
- In most of the cases, students are supposed to take an entrance examination. Based on this, they get shortlisted for the final selection in the desired college and specialisation. Some of the common entrance tests being: ATMA, KMAT, PGCET, GMAT, CAT, XAT, MAT, CMAT and NMAT.
- Again, every university has its own minimum marks criteria in the qualifying examination, but a student must always strive to secure a minimum of 50% of marks. There’s some relaxation for the students falling under the reserved category.
Career Prospects after Completing a PGDM Course
The sky’s the limit when it comes to career prospects on completing a PGDM program. Graduates can take a role in consulting, marketing, administration, media and whatnot. In fact today, students are also taking up distinctive steps like entrepreneurship, coaching and more. They are also establishing a presence on the internet to market their personalised products.
So here is a comprehensive salary insight for various roles in the field of management. The table given below provides the stats as given by the Ambition Box. Have a look below:-
|
S.No |
Designation |
Average Annual Salary |
|
1 |
Academic Associate |
Rs 3.4 LPA |
|
2 |
Research Associate |
Rs 4.8 LPA |
|
3 |
Program Associate |
Rs 4.6 LPA |
|
4 |
Project Associate |
Rs 7.1 LPA |
|
5 |
Administrative Executive |
Rs 4.6 LPA |
Data has been taken from the reports by Ambition Box.
Kindly note that the average salary implies a median salary. Usually, students get placed with a salary package which is as high as Rs 6.0 to Rs 8.0. Sometimes it goes even higher. The more skilled a student is the higher the career prospects are.
Now another important question which pops up one’s head is that from where should one perceive a PGDM course?
See before making that decision students must understand that what are the indicators of choosing the right B-School:-
- Industrial Exposure,
- Infrastructure and College Culture,
- College Reputation,
- Faculty, etcetera.
See PGDM is a professional course. It in a way exposes you to a simulation of the actual job/business scenario. Therefore the above-listed points are imperative while choosing a college.
PGDM at ISBR, Bangalore
ISBR is an abode to the management aspirants. This AICTE approved college, divides the curriculum of two-year PGDM program in 4 semesters. Also, it adopts a very flexible approach to offering specialisation.
For example, it offers dual specialisation in Human Resource Management, Information Technology, Healthcare, Entrepreneurship, etcetera.
The students’ exposure doesn’t limit here. They get a great opportunity to study abroad with the partnering institute. So if one wishes to devote the next two years in management training, then ISBR offers ample opportunities to explore yourself.
About ISBR
ISBR Business School, Bangalore based, Top Class B School for PGDM or MBA, Consistently ranked as best B School in India, AICTE-CII Platinum Catagory , with multiple specializations.