Management studies have gained considerable popularity in the Indian academic sector. MBA aspirants comprise a varied bunch, with individuals from various streams, including both fresh graduates and seasoned professionals. Similarly, a wide range of courses are offered by different Indian universities and B-schools. However, while some of these are classified as MBAs, others are recognized as Masters in Management.
As per global standards, the traditional two-year Post-Graduate Diploma in Management (PGDM) is considered to be the Indian equivalent of a Masters in Management course. On the other hand, the one year executive MBA courses are classified as an MBA program.
Here are some of the important aspects that set these two popular management courses apart.
- Course Content & Approach
Although both courses are essentially related to management studies, the approach for each differs significantly. The master’s degree course has a more academic approach, as it instructs you in the fundamentals and theories of business management. However, the one year MBA programs in India adopt a more practical and skill-based approach. They employ case studies and classroom interactions to analyze real-life business situations.
- Admission Criteria
The criteria for applying to a Masters in Management program generally focuses on the applicant’s academic achievements and capabilities. This includes the scores acquired at graduation and competitive entrance exams. The admission process for an executive MBA course is a little more complex, as it not only considers the academic aspects, but also analyzes soft skills and professional capabilities.
- Work Experience
Masters in Management courses usually accept candidates with little or no working experience, as the course does not require any prior knowledge of business concepts. Candidates applying for the one year pg program however are required to have at least 5 years of work experience. This is to ensure that the applicant is acquainted with certain basic concepts.
- Employment Opportunities
After graduating with a Masters in Management, your career prospects include entry-level jobs in management profiles within marketing, finance, human resources and other departments. On the other hand, one year MBA programs in India enhance your professional skills, allowing you to take on executive and leadership roles.
Which Course Should You Choose?
If you wish to pursue further education immediately after completing your graduation, the Masters in Management courses are ideal for you. However, if you are a professional with significant work experience and simply wish to hone your business skills for a higher position, it would make sense to enrol for an MBA program.
Now that you know the difference between these two management programs, you can choose the one that is best suited to your preferences and capabilities.
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