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the M308 is a much better scope to start with 4-16X42 compared to 4-12X40 the M308 is one of Nikon's top of the line scope the P 308 (while a good scope) is in more of a budget line. A big part that you will not see is just the quality of the lenses are the differences worth the extra cost? not to me on a hunting rifle I am not good enough with a rifle for it to make any difference

the P series is effectively the ProStaff series of scopes (Nikon low-end) which is 1-piece. the M series is effectively the Monarch series of scopes (Nikon midrange).

The M-308 also has less travel so you can't reach out as far effectively unless you swap out the mount/base to get more elevation out of it.

The short and sweet of it is that the Nikon P-308 is designed to be a cheaper version of the pricier Nikon M-308. And being a cheaper version, the P-308 lacks some of the features found on the M-308. The P-308 lacks a parallax setting, which its pricier counterpart comes with. Thanks to its wider objective lens(42mm vs 40mm), the M-308 offers a better field of view of 25 feet at 100 yards. The P will work just fine for hunting and general use. The M will be a better long distance choice in my opinion.