Pay after placement
Nowadays, universities offer a new type of MBA or PGDM program in which students can pay their fees only after placement. This pay after placement scheme is a revolutionary change brought in by institutions. Earlier students wishing to pursue MBA courses always had to be burdened by the high debt fee payment. Now colleges have started to take full responsibility for students as this method ensures that students are not unemployed after graduating and studying tension-free during their course. Good students who earlier due to financial risk and mistrust were not able to pursue MBA courses.
Universities have brought in this pay after the placement has tackled this student problem. This change also solves the problem of students remaining unemployed after graduating from the course. This revolutionary concept of pay after the placement has reduced the financial risk for students and encourages them to go for a lucrative career in the world of business. This shift in fee payment method is also industry-relevant and ensures the skill gap that obstructs the student’s path in getting good-paying jobs is also closed. This method of payment ensures that students have their careers secured right after taking admission into college.
MBA or PGDM: Which Has More Value?
In the world of business, doing a Management course is highly advantageous.MBA or PGDM equips candidates with the knowledge to tackle any problem with efficient and effective methods, methods which are taught at Management institutions. But usually, students wonder, MBA or PGDM, which has more value. Simply put, MBA or Master’s in Business Administration is a postgraduate degree course offered by universities, both government and private, and affiliated colleges. A postgraduate diploma in management or PGDM is a diploma awarded by an autonomous institution recognized by AICTE. Most of IIM’S offer PGDM courses, while some have started to offer MBA after the passing of the IIM act in 2017.
When deciding between MBA or PGDM, which has more value, candidates have to weigh in their personal goals. As there are many subtle differences between the two courses, candidates should know beforehand to go for admission into any course. The course duration for the MBA course is two years, and the course norms are university-dependent. That’s why the course structure is not revised regularly, as no changes in the course could be brought without university consent. This leads to a low intake of new market techniques into the curriculum. In contrast, PGDM courses are very flexible as the autonomous institutions are independent in structuring their curriculum, bringing in the latest research material and training techniques in sync with the market environment. So PGDM courses are revised more frequently than the MBA course.
The focus of the MBA course is more on inculcating business and technical acumen into students. Students are equipped with theoretical knowledge of the business. PGDM courses are focused on training the students to go for the feasible solution of actual business situations. PGDM makes a student that is highly adaptive and market-ready. In terms of fee comparison, MBA courses have fewer fees due to universities’ large budgetary capacity. PGDM course is slightly expensive because autonomous institution offering PGDM course is dependent on the fees for the upkeep of the institution
Moreover, both courses’ admission process is the same; candidates can go for national-level Management entrance exams like CAT or could apply directly through university-level entrance exams. The process to enter into any Management institution is really simple; the first step is the entrance test of direct application, group discussion, and personal interview. Candidates who have low marks in entrance exams should not worry if they are shortlisted for IIMs. A large number of colleges also take students without any requirement for CAT or other entrance exams. These institutions directly conduct GD/PI rounds.