HRM vs. MBA - Should you pursue an MBA or a PGDM in HRM?

 Students often face confusion when considering human resource management courses after graduation. This is a problem often faced by those seeking to pursue a management course such as a PGDM in HRM or an MBA. Though it is common knowledge that the syllabi of both these courses are relatively similar, this article aims to highlight the key differences between the two. 

The key factors to distinguish between a postgraduate diploma in human resource management and an MBA in the same area of specialization are eligibility, duration, syllabus, fees, average salary expected and job opportunities. 

MBAs are considered to be the more sought-after and attempted course. However recent times have seen a surge in the number of students seeking a PGDM HRM course owing to the evolved nature of its curriculum. A key characteristic of a PGDM in human resource management course is that the curriculum is constantly updated to reflect the current situation of the industry. 

Let us first begin with an understanding of what an MBA is. A Master in Business Administration is a postgraduate program that is internationally recognized. It is designed to impart managerial and leadership skills to its students. The core curriculum of this course involves subjects such as economics, business strategy, business ethics, finance, marketing and human resources. 

A Post Graduate diploma program in Human Resource Management is widely offered by private institutions across the country. While they are considered to be of equal value to an MBA, they are generally more expensive. The syllabus of this course is more practical and industry-oriented and is constantly updated as changes occur in the field.

The eligibility for both these courses is relatively similar - the candidates are required to have an undergraduate degree in any specialization from a recognized private or government institute. A minimum of 50% aggregate is required in the UG program. 

The duration of an MBA in Human Resource Management is 2 years. PGDM courses in Human Resource Management are of 2 years duration as well, though some universities offer the same course for a duration of 1 year. 

The fees of an MBA in HRM can range from two to twenty lakhs per annum, depending on the university being considered. For a PGDM in HRM, the fees range from four to twenty four lakhs per annum. 

Aside from these specific differences, one of the key factors that recruiters take into consideration is the brand of the university and the skills that the candidate displays during the placement process.

The average salary for a graduate with an MBA in HRM is INR 7 to 10 lakhs per annum. For a graduate with a PGDM in HRM, the salary can range from 12 to 15 lakhs per annum. 

The job opportunities available for graduates with an MBA include Investment Banker, Financial Advisor, Marketing Manager, Business Analyst and HR Manager. For a graduate with a PGDM in HRM, the career options available include consultant, tax specialist, auditor, data scientist and project manager. 

Keeping in mind these key differences can allow for aspirants to take various factors into consideration before choosing the course. The course selected should ideally resonate with the needs, requirements and future ideals that the student holds. A careful selection of the postgraduate program can enable the development of a firm foundation in the industry.