So you are an aspiring business leader who is looking for higher studies (which you rightly should in this competitive business world). Higher Education can equip you with the knowledge and skills necessary to thrive in complex and competitive corporate environments.
In the realm of Higher Education, the pursuit of management studies stands as a pivotal decision for countless individuals aspiring to enhance their career prospects and knowledge base. Two prominent paths that often dominate this landscape are the Master of Management Studies (MMS) and the Post Graduate Diploma in Management (PGDM). As the global business landscape continues to evolve, the question arises: What sets these two qualifications apartand which one holds greater value in today’s dynamic professional arena? In this exploration, we delve into the nuances of MMS and PGDM, aiming to illuminate their differences and guide the modern learner toward an informed choice that aligns with their aspirations and the demands of the contemporary world.
Similarity between MMS and PGDM
Before we look at the difference, let’s see some of the similarities between these courses and why exactly students get confused between choosing one or the other:
Business Foundation: Both PGDM and MMS offer a strong foundation in the field of Business Management, covering important topics like Marketing, Finance, Operations, Human Resources, and Strategy.
Leadership Development: Both programmes place a strong emphasis on developing a person’s leadership abilities through lessons, workshops, and assignments. The aim is to transform students into efficient managers and decision-makers.
Opportunities for Networking: Both courses have numerous chances to connect with classmates, teachers, industry leaders, and alumni. This helps develop a strong professional network and can be crucial for advancing your career and taking advantage of new opportunities.
As both MMS and PGDM colleges provide these programmes, students tend to get confused about choosing one. Hopefully, the differences that we are going to mention below can help you.
NOTE: Choosing an MMS or PGDM will have little to no impact on your future hiring process, as both programmes offer the skills necessary to have a flourishing career. Like every other field and industry, your experience and skill sets will also be considered by the recruiter along with your qualifications.
Key differences between MMS and PGDM
Finally, let’s talk in detail about the thing you are here for. What is the actual difference between an MMS and a PGDM? Or MMS vs PGDM.
1. Academic Recognition
The key difference between an MMS and a PGDM is that an MMS is a degree programee, while a PGDM as its name suggests, is a diploma programme.
Government or private universities or different colleges associated with the university are eligible to offer MMS programmes. Degrees can only be granted by certain institutions, which are overseen by the University Grants Commission (UGC).
It is also one of the reasons why PGDM is a diploma programme. A PGDM programme is usually offered by business schools that are AICTE recognised but are not overseen by the UGC.
Curriculum is a part where we can see some of the essential differences between these programmes. Because most MMS colleges are government universities, they usually have a fixed curriculum. The curriculum is more theory-based and has a certain level of rigidity. While the real world is constantly changing, MMS programmes offered by government universities may not evolve at the same pace. Even the Best Colleges for MBAs in Mumbai may not have a curriculum based on the current business world. Although some private universities do tend to update their curriculum more frequently.
The curriculum provided by PGDM, on the other hand, is updated according to the latest industry requirements and standards. This can give students a competitive advantage in the ever-changing business world. The PGDM course list also focuses more on practical applications than theory.
3. Teaching methods
As we have mentioned above, PGDM is more focused on practical application, meaning the teaching methods expand beyond the classroom. Events, seminars, competitions, and industry visits are regularly organised for students to learn and get firsthand knowledge about the actual business world. TGBS, one of the AICTE-approved PGDM colleges, organises regular guest lectures, conclaves, and symposiums that can help our students learn and gain valuable skills.
On the other hand, MMS is more classroom-based learning. This does not, at all, mean that there are no seminars or guest lectures; it’s just that their major focus lies in a classroom-type learning approach.
4. Fee Structure
MMS programmes in cities like Mumbai are usually quite affordable for students, as the programme is offered by the universities and colleges that receive grants from the government and UGC.
PGDM colleges in Mumbai, on the other hand, are relatively expensive as they are offered by private colleges, which don’t receive grants from any government bodies. Although the expensive fees are used for the benefit of students. These colleges reinvest the money in infrastructure, seminars, guest lectures, and creating smart curriculum. Many banks also provide student loans at very reasonable rates if you want to apply to PGDM colleges in Mumbai or other major Indian cities.
Other common differences
|Frequency of Curriculum Update||Annually with feedbacks from industry||Last updated in 2014 after 1989|
|Specialisation||Starts in Semester 1.||Starts in Semester 3.|
|Live Projects||Included in curriculum||Not included in curriculum|
|Campus to Corporate Training||Starts in Semester 1||Starts in Semester 3|
|Orientation||Industry and career-oriented||Academics oriented|
The differences between an MMS and a PGDM weave a narrative of choices into the complex fabric of business education, each offering a different path towards professional advancement and enlightenment. While both exhibit the characteristics of sophisticated business knowledge, a deeper look reveals the differences.