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A Postgraduate Diploma in Management is a popular choice among students or working professionals who need a boost in their career path.
There are numerous specializations under the sphere of PGDM in Management such as Marketing, Business Analytics, Financial Technology, Digital Marketing, Operations & Supply Chain Management, Retail Management, Human Resources, and International Business among others.
Postgraduate Management courses enable students to widen their insight, advance their comprehension and update their knowledge about a focused subject area. Most PGDM courses are 2-year, full-time courses. They are at the same level as Master's degrees but are shorter in duration. If one wishes to pursue higher studies or employment abroad, it is important to know that a PGDM is worth 120 credits while a Master's degree is worth 180 credits.
Courses to pursue after graduation
While post graduation courses have gained a lot of popularity in the last few decades, an increasing number of candidates are opting for postgraduate diploma courses instead of master’s degrees. PGDM courses offer numerous benefits and can be pursued along with a full-time job.
Let us take a look at the best courses after graduation to find out which PGDM course best suits you and would be most beneficial for your career. Here is a most sought-after postgraduate courses list:
PGDM in Marketing
This course helps in understanding and mastering all the possible marketing activities that a brand or venture can undertake for the best results. It covers topics such as Brand Value & Recognition, Target Consumer Analysis, Marketing Strategies, Sales, and Distribution. The course fee for a postgraduate diploma in marketing ranges between INR 1 lakh to 4 lakhs.
For a fresh graduate, the average starting salary is between INR 2 lakhs and 5 lakhs. The top 5 career positions after completing this course are Business Development Executive, Marketing Executive, Marketing Analyst, Sales Manager and Brand Manager.
PGDM in Finance
A PGDM in Finance is a wide subject area and covers topics such as Financial markets, Accounting, and Investment management. It also includes Market Analysis and Banking. One can advance their position to that of an Investment Banker, Financial Portfolio Manager, and other high profile positions, post this course. The current fees range for this course is between INR 50,000 and 5 lakhs.
The top recruiting areas after completing this course are banking and insurance. The career opportunities that a candidate is presented with include financial advisor, bank executive, investment banker, portfolio manager and financial manager. Having completed this PGDM program, a postgraduate can attract an average salary of INR 2.5 to 25 lakhs.
PGDM in Human Resource Management
This course offers students the opportunity to learn and hone the knowledge to manage human capital, ie: employees within organizations. Subjects within this specialization include Performance Management, Training & Development, HR Information Systems, and more. The course fees at a reputed institute can range anywhere between INR 8 lakhs to 25 lakhs.
The job opportunities after completing this course are employee relations manager, training and development manager, HR generalist, technical recruiter, HR manager, HR Director and many more. The average salary of a candidate with a PGDM in Human Resource Management is INR 3 lakhs and can go up to INR 15 lakhs with experience.
PGDM in Supply Chain and Logistics
A PGDM in Logistics is a part of business management and deals with all the aspects of supply chain in manufacturing-related businesses while logistics deals with managing the complexities of the whole operation. Subjects in the course include Customer Relationship Management, Operations Management, Total Quality Management, Enterprise Resource Planning and Logistics Management.
The job opportunities after completion of this course include logistics analyst, purchasing agent, operations manager, retail store manager and materials analyst, while the average salary for a supply chain postgraduate is between INR 3 to 14 lakhs.
5 tips to choose the right institute
Once you have identified the PGDM program you want to get enrolled in, the next step is to choose a well-reputed institute that will offer you the course along with other benefits.
Here are 5 useful tips which can help you make the right choice of an institute for pursuing PGDM courses.
- Understand your goals
The first step in determining which PGDM institute is right for you is to assess your personal goals. A course can be evaluated in terms of how well it can help you to achieve your goals. Few of the most common goals and motivations for pursuing a management degree are to start your own business, to opt for a career change, upgrading yourself for your existing career and so on.
- Course content offered by institutes
Once you have identified your goals and needs, it’s time to compare colleges by reviewing their courses to find one that suits you best. If you are interested in marketing, a PG in digital marketing can be considered since it has a vast syllabus and includes other sub-disciplines of digital marketing as well.
- Quality of education
Wouldn’t it be disappointing to spend your time and money on learning from an institute which wasn’t qualified to teach you? To avoid this, it is always better to verify the trustworthiness of your trainer by digging deep into the background of the creator of a course.
- Reputation of the college
Completing education from a reputed college can increase your chances of being hired by renowned organizations owing to a number of factors such as updating course curriculum, exposure to the industry and working on live projects.
- In line with industry needs
The chosen course syllabus should be in accordance with the recent trends in the industry to avoid outdated knowledge. The college you choose should prove to be useful in getting you selected for your desired job or the promotion you were aiming for.
General Eligibility Criteria for obtaining admission in one of the PGDM courses
- Candidates must have completed a bachelor’s degree from any private or government institution.
- They must have scored a minimum aggregate score of 50%.
- Candidates for the final year may also apply for admission based on a provisional basis.
- Some colleges may also have criteria of 1-2 years of work experience in any associated area of human resources.
Career Prospects after completing PGDM courses
A bright career requires you to apply some well-thought strategies and invest your time in the right course. Renowned Indian colleges are known for their postgraduate programs which are often seen as a pathway to a lucrative career.
The best courses after graduation are broken down into primarily two programs- PGDM and MBA. The former is most commonly pursued by graduates due to its resemblance with a master’s degree as well as the current market demand. However it’s best to look at the job prospects prior to enrolling for one of these courses.
Career prospects after a PGDM program
Apart from the job positions mentioned above, here are a few career opportunities PGDM graduates can expect after the completion of their program. Let us explore each one of them in detail.
- Retail Manager - A retail manager is responsible for running a store successfully. They interact with the customers and provide valuable feedback to the staff of the store. They maintain the financial performance of the store and balance the overall workforce. A retail manager ensures that his customers receive good service which leads to increasing brand value. Retail management courses in Mumbai are in high demand these days.
- Marketing Analyst - A marketing analyst carefully assesses and studies the dynamics of business and makes necessary improvements. A PGDM from Mumbai aims to train an individual to be able to analyze complex areas of business.
- Financial Analyst - The demand for financial analysts is huge since these professionals study trends and prepare forecasts for the financial year. They possess strong analytical skills and help a business in making informed decisions which in turn are profitable. PGDM in finance aims to prepare individuals for establishing a career as an analyst.
- Branding Manager - If the field of branding management interests you then a PGDM from Mumbai can make it possible to bag the role of a branding manager. Marketing companies are constantly looking for these professionals to set rules of branding management and lead their branding team.
- Product Manager - They are responsible for coming up with products which will be useful to customers and create utility along with the satisfaction of their needs. A product manager can also help to improve the company’s reputation in the industry by creating high quality products that deliver what they promise.
- Summing up
The management capability holds an exceptional spot in the Indian and Global market. The PGDM course considers the general characteristics of the students, from their capacity to impart and make ideal choices, to creating critical thinking abilities. After finishing a PGDM course, one can fill in as a sharpened, talented, and proficient in multiple related fields.
Being a versatile and all-round development course, a PGDM degree is considered as the best course after graduation since it will equip you with a superior comprehension of changes. It can show you a huge number of abilities and allow you to broaden your horizons in multiple related fields. There will be a liberty to connect with different experts who can assist you with expanding your organization and gain a broader point of view of your industry.
The career opportunities for PGDM candidates from reputed colleges are plenty due to the increasing number of postgraduate pass-outs. Today a PGDM in any management field is highly in demand and offers exciting career opportunities to well-trained individuals who have the potential to contribute to the success of the company.