If you’re having trouble deciding between an MBA and a PgMP® (Program Management Professional Certification), we are here to help.
We’ll go through the distinctions between the two credentials throughout the article so you can see both the overall picture and the finer points of each. Without further ado, let’s have a look at each of the certifications and discover which one is best for whom.
The quick answer is that if you’re starting from scratch and have no prior experience, I’d advocate getting an MBA because it covers all of the fundamentals you’ll need to succeed in business. After that, if you’ve gained some experience, you should consider adding a PgMP® certification to your resume.
Features of PGMP Certification:
- The PgMP is a senior certification intended for project managers with extensive experience and knowledge.
- Candidates who have completed the PgMP certification program have demonstrated their ability to manage several, linked projects in a single program.
- This certification is for project and program managers with more than 8 years of experience.
Features of MBA Program:
- One of the most significant benefits of getting an MBA is that it increases your academic and practical understanding of how companies work
- An MBA degree requires you to step outside of your comfort zone. You’ll learn about the most recent developments in international business.
- An MBA can also help you prepare for changes in the business world. The skills you acquire are also the most effective instruments you have for adapting to the unavoidable change in industry.
Eligibility
PgMP Certification Training Prerequisites:
Candidates for the Program Management Professional (PgMP) must have the following qualifications:
- A four-year degree (Bachelor’s degree or global equivalent) is required.
- A minimum of four years’ experience in project management is required.
- Experience in program management for four years.
To be considered for a full-time MBA, you must meet the following requirements:
- You must have graduated from a recognised university with a bachelor’s degree or equivalent in any discipline.
- On average, your average score should be 50%. Colleges and institutions have different minimum scoring requirements.
- If you’re a final-year student, you’ll need to show documentation that you finished your degree within the timeframe set by the college/university.
- You may also have to pass an entrance exam, depending on the institute. CAT, GMAT, and XAT, among others, are the most popular.
| PgMP (Program Management Professional) | MBA (Master of Business Administration) |
|---|---|
| A four-year degree (Bachelor's degree or global equivalent) is required. | A bachelor's degree from a recognised university in any (discipline or equivalent). |
| Project management experience of at least 4 years is required. | You must pass an entrance exam, such as the CAT, GMAT, or XAT. |
| Experience in program management for four years | Group Discussion (GD) and Personal Interview rounds (PI) |
Exam and Cost:
Depending on which college you choose, earning an MBA degree might be fairly costly. The cost of tuition might range from 2.5 to 25 lakhs. A PgMP certification, on the other hand, is less expensive. If you are a member of PMI You will have to pay less as compared to those who are not. The exam price makes up the majority of the cost of the PgMP. This varies depending on whether you’re a member or not.
PMI Exam Fee:
Member: US $800.00,
Non-member: US $1,000.00
| PgMP (Program Management Professional) | MBA (Master of Business Administration) |
|---|---|
| Exam Fee: $800/$1000 | The cost of tuition might range from 2.5 to 25 lakhs |
| The cost of PgMP certification courses varies according to the institute/online program. | Cost can shoot upto 20 lakhs depends upon institute |
Salary:
MBA:
An MBA graduate can expect a starting salary around Rupees 5 lakh. Based on specialized streams, salary May Vary. Job titles for MBAs include HR Manager, Project Manager, Operations Manager, Marketing Manager and more. According to the pay scale, the average compensation for a marketing manager is INR 3,76,000 and the average salary for an HR manager is INR 3,40,000 to INR 20,00,000.
PgMP:
With regard to the PgMP certification, the typical salary range is between $131,000 and $140.000. Depending on the company you’re in, this might possibly rise to $171,000
Job/ Career Outlook
There are a ton of misinterpretations about PgMP certificates versus MBA degrees. Individuals accept that an MBA rises to huge measures of cash and don’t understand there are numerous degrees more qualified for projecting the executive’s occupations than business degrees. The MBA is a business degree and has no immediate association with the project board. It’s anything but smart to get an MBA to work in the field of undertaking the executives.
The program management professional certification will get you the desired profession and open doors that are for all intents and purposes inaccessible for those with graduate degrees, so it gives an unmistakable benefit over any remaining degrees. The certificate can be effortlessly coordinated into the gig market, and you will track down potential chances to utilize it even in regions that don’t need project executives like public help, deals and promoting. As a matter of fact, there are numerous extraordinary positions only sitting tight for project directors that don’t need any credentialing.
The PgMP is an exceptionally powerful program and is accessible from one side of the planet to the other.
Conclusion:
PgMP Certificate holders enjoy a particular benefit of having the option to work in various fields, for example, IT, finance and so on. A MBA won’t give you experience in these fields, since you generally wind up representing considerable authority in only one space. Along these lines, what you pick truly relies upon your drawn out profession objectives. If you want to prosper in the field of project management then you should opt for PgMP. ProThoughts PgMP classes are designed specifically for this purpose. You learn through hands-on workshops and even receive expert advice on your application! However, if you want a job related to a specific field then only going for an MBA makes sense.
Still not sure what to choose between PgMP And MBA? Don’t worry we got you covered. You can schedule a call with our consultant to get more info about the PgMP and other project management courses.
