PGDM, or Post Graduate Diploma in Management, is a two-year postgraduate course that helps specialise in everything related to business and management. Only those with a bachelor’s degree from a recognised university can pursue PGDM. Usually, candidates get selected into PGDM programs based on merit or an entrance exam-based system.
Candidates are generally taught subjects in finance, human resources, business analytics, marketing, and others. In the first year, all subjects are taught, including the basics and some other concepts. In the second year, students have to choose a PGDM course specialization. PGDM specializations help students narrow their focus to a few select subjects. They can then focus on more in-depth theoretical and practical learning.
For candidates aspiring to enter the PGDM program, it becomes mandatory to choose a PGDM course specialisation. It can get quite confusing to choose PGDM subjects, especially given the diverse options available. Sunstone is here to guide aspiring PGDM students select a PGDM course specialisation that aligns with their interests and skills. Before selecting a PGDM specialisation, it is essential to know the various PGDM specialisations offered.
What are the types of PGDM specialisations?
PGDM specialisations help candidates focus on a few select subjects in depth and gain a deeper theoretical and practical understanding of them. Here is the list of the most popular PGDM specialisations offered by the leading business schools in India:
PGDM in Finance
This specialisation in PGDM is one of the most popular PGDM programs and one of the highest-paying specialisation options. It focuses on financial management subjects like national finance, international finance, working capital management, wealth management, corporate finance, investment banking, insurance, commercial credit, equity and market research, financial advisory insurance, and others.
The finance and banking industry is always booming, and leading companies and banks in India offer top positions to PGDM graduates. Graduates can expect annual salaries ranging from ₹ 5,00,000 – ₹ 10,00,000 and can later get packages even up to ₹ 20,00,000 as their experience increases.
PGDM in Business Analytics
This PGDM specialisation focuses on all aspects of business analytics, like business analytics tools, database tools and techniques, and data collection and analysis practices. The need for skilled business analytics professionals is rising, and companies are offering high packages because of the shortage of employees.
Business analytics is tapping areas with high monetary potential, like machine learning, artificial intelligence, big data, cloud, and natural language processing. If you are keen on learning how to improve an organisation’s functioning through data collection and observation, a business analytics PGDM specialisation is right for you.
PGDM in International Business
This PGDM specialisation focuses on subjects relevant to international business, including global finance, markets, investments, import and export, trade practices, documentation, communications, and much more. If you are keen on learning how to thrive in global markets and secure a loyal international customer base for companies while complying with the appropriate nation’s laws, a PGDM in International Business could be your calling. A career in international business could also open the doors for travelling and exploring foreign countries.
PGDM in Operations and Supply Chain Management
This PGDM specialisation focuses on subjects in operations management like production, logistics, supply chain administration, inventory management, queuing systems, risk management, shipping, maritime law, managerial economics, and others. Every company needs a person who can manage various operations and strategise effective plans that increase a company’s revenues and minimise operational expenses.
Supply chain and operations managers are handsomely paid for their efforts in finding better ways to optimise the supply chain and executing strategies that boost profits. If you think you have a knack for finding innovative solutions to routine issues, then a PGDM in operations and supply chain management could be the right fit for you.
PGDM in Sales & Marketing
Marketing, especially digital marketing, is one of the fastest-growing fields currently. Marketers are responsible for identifying a company’s goals, finding the ideal target audience, and bringing a business to the attention of the right customer base. Marketers need to have creative and problem-solving skills because they are behind a company’s growth, visibility, and sales.
A PGDM specialisation in sales & marketing focuses on subjects like marketing research, consumer behaviour, brand management, digital channels, search engine optimisation, social media marketing, digital marketing analytics, advertising, organisational behaviour, microeconomics, and others. If you’re someone who likes to keep up with real-time data and its analysis, a PGDM in marketing could be your perfect fit.
PGDM in Human Resources
Those with exceptional communication and networking skills should consider a PGDM in human resources. This PGDM specialisation focuses on subjects in human resources like performance management, HR management systems, HR planning, employee legislation, strategic management, managerial economics, and others.
A company’s profits are largely tied to how its employees perform. Human resource officials are responsible for bringing in the best talent pool to a company and ensuring everyone is working at their maximum potential. HR professionals look in detail at an organisation’s policies, practices, and overall functioning.
How to choose a PGDM specialisation?
Once you know the types of PGDM specialisations available, you can choose the appropriate one for you. Here is a step-by-step guide on how you can go about it:
- Identify your passions and interests.
- Do your market research on a respective field.
- Assess whether you see a foreseeable future in the said field of choice.
- Check whether your grades and performance will help you qualify for the specialisation.
- Check the average annual salary and the scope of placements/ jobs in a particular field.
You can even consult a specialist or educational professional to make the correct decision that aligns with your requirements.
A PGDM can lead to a viable and profitable career, as it has a lot of scope in diverse fields. It opens the doors to high-paying and top-position jobs at the premier organisations in India. It also paves the way for entrepreneurship. However, choosing your specialisation is the first step towards success post-PGDM and a glimpse of how your life will look daily. That is why it is necessary to choose something that resonates with your entire being and aligns with your goals and skills.