One of the major differences while comparing MBA & PGDM is that MBAis a degree course that can only be offered by the colleges affiliated to universities, whereas PGDM or Post Graduate Diploma in Management is a diploma course offered by autonomous institutes.For example, The Faculty of Management Studies (FMS), Delhi, is affiliated to Delhi University and hence offers an MBA degree.
IIMs, too offered (offer) PGDM courses before IIM Act 2017, when they were under the umbrella of Societies Act. As Societies aren’t eligible to offer degrees, IIMs offered diploma courses. But after the passing of the IIM Act 2017, they were termed newly as institutes of national importance and made eligible for awarding degree courses.
However, not all IIMs have started offering MBA degrees; some chose to stick to awarding diplomas as they’ve now brand equity attached to it. IIM Bangalore was the first IIM to award a degree in 2018, followed by Indore, Ahmedabad, and Calcutta.Post Graduate Diploma in Management is AICTE (All India Council of Technical Studies) approved program with a duration of 2 years. Approximately 500 institutions are approved to offer PGDM in India by AICTE. These approved institutions design their own curriculum, upgrade it as and when required, conduct their own examinations and evaluate their own students. Generally, curricula are designed keeping in view the industry demand, so that students can be placed well.
Both the bodies (AICTE and UGC) are formed by the Act of Parliament for the cause of higher education. So the programs approved by these bodies have equivalent legal acceptance. That means PGDM or MBA both are postgraduate programs and have the same legal equivalence as for Government jobs or enrolling for a Ph.D. is concerned. Some universities while enrolling PGDM students for Ph.D. may demand an equivalence certificate that can be easily obtained from AIU or association of Indian Universities.
