Top 9 job-friendly diplomas for management grads
Offered in various functional specialisations, some management diplomas aim at skill development of people willing to join or excel as professionals in the management domain.
The increasing demand for ready-to-be-employed, well-trained and skilled people in various industries has fuelled the need for several diploma and certificate courses, particularly in the management domain.
Most of such courses in management studies help the candidates cultivate add-on learning skills that aid in getting a raise in their remuneration and designation.
Here are some of the most sought-after courses in the domain.
1. Environment/Energy Management
According to Energy Statistics 2012 published by Central Statistics Office (Ministry of Statistics and Programme Implementation) "serious energy shortages continue to plague India, forcing it to rely heavily on imports."
On the other hand, there is an ever-growing demand-supply gap in India, which is worsened by careless management of non-renewable sources of energy.
A diploma or certification in energy management equip the participants in learning about the energy scenario, infrastructure, finance, crisis management etc, and also trains to do research in emerging fields of energy management with vigorous industry inputs.
Where to study
The Management Development Institute (MDI, Gurgaon) offers a Post Graduate Programme in Energy Management. This AMBA-accredited programme trains professionals from the country's Energy and Power Sector and helps them in honing their skills while on the job.
Anyone with a minimum five years of work experience in an energy company, power corporation, or related areas in technical or non-technical roles can apply for the course.
The target group includes power distribution companies, oil marketing and power generation companies, NGOs, government agencies, consultancy firms and companies in energy domain.
Sanjeev Kumar, who has worked for over five years in channel management for automation products and managed export of medium voltage products and also a student of PGPEM at MDI stated: "I have got experience of power sector marketing and technical expertise. Now, I want to take up focused consulting roles in a major firm."
The programme fee works to about Rs 6.5 lakh (approx.) for non-DoPT (Department of Personnel and Training) candidates including boarding and loading charges.
The courses in the energy/environment domain (though largely in distance learning mode) are offered by the TERI University (Advance PG Diploma), the Indian Institute of Energy Management, Chennai, Jadavpur University, Kolkata, Tezpur University, Assam and the University of Pune, among others.
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2. Insurance & Risk Management
Does working in insurance companies or broking houses excite you? An add-on qualification in insurance and risk management, alongside your graduation could be the way forward.
Though insurance is a relatively known and mature area, it is in risk management that many firms are focusing and increasingly hiring people.
According to the year 2011's data by the Institute of Internal Auditors, the risk consultancy market is worth approximately $30 billion (Rs 1.6 lakh crore) globally. In India, the data reflects almost three-fold increase in the quantum of risk managers in the last two years.
Risk management professionals are involved right from planning and strategy stage to final closure of transaction, ensuring that risk remains well within manageable levels.
Where to study
The Institute of Insurance and Risk Management (IIRM), Hyderabad offers a one-year International PG Diploma in Risk Management.
"Hard work, commitment and seriousness are called for to pursue this course. The upper age limit for on campus programme is 30 years, however, this is relaxed for Distance Learning mode offered to working professionals," says Professor P Rajeshwar Rao, faculty, IIRM.
Open to anyone who has a minimum of 50 per cent in graduation, the course comprises a month's internship with industry majors like IRDA, RBI, SBI, nationalised banks, insurance companies, broking houses, Clearing Corporation of India, SBI Gilts Pvt Ltd, SBIDFHI, stock exchanges, rating agencies, and others.
Foreign institutions such as the Institute of Risk Management, London, Sawyer Business School, or Suffolk University Boston admit IPGDRM students to their CIRM without any examination.
The IRDA ( Insurance Regulatory and Development Authority ) also recognises IPGDRM as equivalent qualification to FIII, Mumbai for employment purposes.
The other institutes offering PG Diploma in the subject are Aligarh Muslim University, the University of Madras, Gurunanak Dev University, Amritsar and Dr Ambedkar Law University in Tamil Nadu among others.
Photographs: Jayanta Shaw/Reuters
3. Export/Import Management/ International Trade
A boom in international trade is an obvious phenomenon in the era of globalisation.
According to the Gamechanger research conducted by Kotak, "It is critical for India to develop its manufacturing base for both consumption and export."
Where to study
The Indian Institute of Foreign Trade at New Delhi offers a Certificate Programme in Export Management.
"The course imparts hands-on tips and knowledge at each stage of export-import value chain i.e. from how to start an export-import business, registration with various authorities, identifying buyers/customers and markets, executing international contract, understanding procedure for exim finance involving currency management, process of safe and secure shipment of cargo, handling trade documents for benefits/subsidies/incentives/duty neutralisation etc, to safe, secure and systematic realisation of payments," says Gaurav Gulati, Sr Administrative Officer (Academics) at the IIFT.
This four-month course is designed with contemporary industry-oriented inputs.
"For add-on learning, students are assigned live projects and taken to dry ports and Special Economic Zones for hands-on practical knowledge of logistics operation and learn the various facets of foreign trade chain," Gulati added.
The Welingkar Institute of Management Development and Research (WIMDR, Mumbai) offers a six-month part-time Diploma in Export Import Management. The course, sans internship, is open for class 12 pass outs, undergraduates with two years of work experience, diploma holders and graduates.
As Prof Uday Salunkhe, Group Director, WIMDR says, "Considering the relatively shorter duration, we have to be focused. It is infeasible to include internships in such a short time-frame, so rather than taking them to the industry, we bring the industry to them in the shape of industry experts who give them first-hand knowledge of the developments and equip them with relevant information and skills."
These courses are suitable for anyone who is a professional or wish to pursue a career in forex department of banks, trading division of PSU, exim or customs and excise clearance division of any company, or international marketing unit in a logistics firm.
It is also for those who wish to work in a SEZ/EOU/STPI or in a warehousing company. Those willing to start their own export-import business may also opt to do these courses.
Scope of career
The remuneration varies with experience, calibre and potential of the candidate.
Photographs: Amr Abdallah Dalsh/Reuters
4. Logistics/Supply Chain Management/Distribution
This discipline entails all aspects ranging from inventory and transport management to procurement and supply chain management.
The discipline has become all the more exciting in present times as one makes use of sophisticated modelling/design tools and software.
Where to study
The CII Institute of Logistics offers several diplomas and certificate courses in logistics and supply chain management for different target groups.
According to Professor S Ramani, Consultant (Education) at the CII Institute, "Our academic delivery includes virtual classes held on week-ends, study material in self-learning format. Students are exposed to live case studies and best practices from the industry across the globe for learning."
The Institute of Rail Transport, New Delhi also offers a Multi-Modal Transport (Containerisation) & Logistics Management (MMT) Diploma course in correspondence mode. Being a correspondence course, a fresh graduate or working people can opt for this course, the minimum eligibility for which is graduation.
Kapalmeet Singh, Manager at IRT says "In this course, students acquire knowledge in container handling, how to deal with cargo, import, export, logistics etc."
The students who pass also get a chance in the logistics industry where they can be absorbed as cargo handling agents, inventory specialists etc and move up the career trajectory as they develop expertise. Programme fee is Rs 4000.
The Indian Railways Institute of Logistics & Materials Management also offers a Diploma in Public Procurement & Supply Management in correspondence mode.
On successful completion, one can seek employment as a Depot Material Superintendent (DMS-3) in the railways. The course fee at IRILMM is Rs 11,000 plus service tax.
The Indian School of Business Management and Administration offers a Diploma in Sales and Distribution Management for class 10 pass-outs. The course can be taken in a fast-track mode in three months or can be pursued on a regular mode for one year. However, "It would be advisable for the students to pursue this course along with regular studies in order to add value to the CV," said Sushma Kamble - Head Operations, ISBM.
Photographs: Satish Bodas/Rediff.com
5. Retail Management
Retail management offers the learners a diverse range of career paths namely roles in management, procurement, merchandising, supply/logistics etc.
Many institutes offer training and career progression can be quicker wherein you could be at a managerial level with just three to five years of experience, depending on the nature of the employing firm.
Apart from core learning in the subject, the preferred skills for those willing to pursue a career in retail are relationship management and a strong customer service ethic.
Ex-General Manager, HR at Future Group and presently the Dean of Future Innoversity, CK Kurien also points out, "A diploma course in Retail Management that has a compulsory internship with some organisation in the retail sector as a part of the programme is considered to be a good certification."
So, in case there are two candidates, where one has a three years degree certificate and another holds a diploma with internship, preference is given to the latter.
Where to study
The National Institute of Fashion Technology offers a one-year Diploma in Fashion Retail Management. Graduate in any discipline or with 3-year Diploma from NIFT/ NID can apply.
According to Amandeep Singh Grover, Centre Coordinator at NIFT, New Delhi, "We prefer candidates with some experience in the apparel sector as the programme is designed to fulfil specific training requirements of apparel retail organisations."
Similar courses are available at Pearl Academy of Fashion, PRS training centres of the Retail Association of India and Symbiosis Centre for Distance Learning.
Scope of career
The course is a good add-on qualification and experience for working professionals in apparel retail organisations.
Photographs: Rohit Gautam/Careers360.com
6. Materials/Inventory Management
Though part of the logistics domain, this sector is much more focused and offers good development potential both within the procurement/supply chain space, and wider commercial roles.
The typical job responsibilities include strategic material planning and project planning; tracking supplier orders and managing supplies for both long-term proactive materials and fast-moving urgent needs,
Where to study
The Welingkar Institute of Management Development and Research, Mumbai offers a Diploma in Materials Management (DMtM).
Eligibility for the diploma course is graduation in any discipline, or a higher secondary plus two years full-time work experience.
The course allows a student to understand the rationale behind increasing profitability of an organisation through optimising resources for material procurement and disbursement. This course can be pursued as an add-on for enhancement in the current job.
The Indian Institute of Materials Management, at its centres in New Delhi, Kolkata, Vadodara and 32 other cities also offers Graduate Diploma in Materials Management (GDMM) and host of other courses at different levels and duration.
The basic qualification required for pursing GDMM is a graduation or a diploma in engineering or management that is AICTE approved. Mandatory on both the fronts is two years of work experience.
Photographs: Rediff Archives
7. Office Management/Front Office/Administrative
Responsible primarily for administrative support in a working environment, this area needs such professionals who are not only good in basic computer knowledge and communication skills but are agile and have the ability to think positively for the organisation.
After successful completion of the course one can look for opportunities as executive secretaries, office administrators or executives, counsellors, receptionists/front office executives, private secretaries, administrative assistants at any work place such as multinational companies, government offices, educational institutions, banks, hospitals, embassies, high commissions, and other commercial establishments.
The Polytechnic for Women, New Delhi runs a one-year diploma programme for graduates and a two-year diploma course in Modern Office Management for those who have completed their class 10 and 12.
However, "Preferably, a class 10 pass-out should opt for the two-year diploma course," says Sanjana Kalra, Executive Director, Polytechnic for Women.
As a part of the course, the students are taught French as a compulsory foreign language and trained in latest office automation systems.
Personality grooming is an essential part of the course.
The other known universities offering the course are Pondicherry University, Guru Nanak Dev University, Amritsar, DAVV, Indore, SNDT University, Mumbai, the University of Calicut and Aligarh Muslim University.
Photographs: Punit Paranjpe/Reuters
8. Media Management
With the growing dominance of the Internet, the scope of career prospect in media has increased tremendously.
Experts in the media and communication domain observe that professionals entering this sector or willing to sustain them, must definitely be multi-skilled.
To put it simply, managing different aspects of the developed content and maximising its reach to readers and viewers, is what media management is all about.
The World College-School of Media Studies, Mumbai offers a 11-month Post Graduate Programme in Media & Entertainment Marketing that includes internship.
Though open to all, the course is recommended for either graduates in media management, management studies or working professionals in the media and entertainment domain.
"The students learn about business management and marketing space which includes film marketing, television channel business, radio business management, gaming and animation, digital and interactive media management and so on," says Vishal Desai, Senior Manager, Business Development & Corporate Relations at WCSMS.
The Centre for Management, Mumbai offers a six-month Professional Diploma in Media Management. It is an add-on course for students and professionals where one can also opt for an internship. The minimum eligibility requirement is a pass in class 12.
Photographs: Jim Young/Reuters
9. Textile Management
Students can consider pursuing a career path in the textile sector, if they are interested in learning the basics of textiles, fabric structure and design, manufacturing technology, chemical processing, financial management, computer application in home textiles, management of home textiles unit, marketing and merchandising, quality control and so on.
The Sardar Vallabhbhai Patel International School of Textiles and Management, Coimbatore offers a one-year post graduate full-time certificate in management -- home textiles.
Students who have completed their class 10 and have also pursued a diploma in the relevant field are advised to take up this course.
Scope of career
"After completion of the course, students can find opportunities in the home textile domain in three different roles: production, design and merchandising. One might start with a salary of Rs 6,000 to Rs. 12,000 and remuneration varies depending on the calibre of the student," says Prof. AJ Muralidharan of SVPISTM.
Photographs: Courtesy Careers360.com