ISB OR IIM: A must read for applicants
Categories: B-school News, General
When you are eligible for both the programs and India is your destination, the choice is not easy. We keep hearing from our applicants, the questions like – What are the differences between ISB and IIM? Which of these programs is better for my profile and aspirations? Is ISB PGP better than IIMA PGPX? In our attempt to find an answer, we have compiled this table with the relevant facts about both the programs. Analyzing carefully, you can evaluate your choices and freeze ‘your’ school.
ISB -vs- IIM-Ahmedabad
| IMPORTANT FACTS | ISB PGP | IIM-A PGPX |
|---|---|---|
| YEAR OF LAUNCH | 2000 | 2005 |
| CLASS SIZE | 573 | 101 for 2011-12. May increase intake to 140-150 |
| AVERAGE AGE OF STUDENTS | 28 years | 34 years |
| AVERAGE WORK EXPERIENCE | 2 years minimum work ex. - Average work ex of Class of 2012 is 5 years | No minimum requirement of years of work experience. However, average work experience is 10.3 years and minimum age of entry is 27 years. |
| AVERAGE GMAT | 712 | 713 |
| FEMALE STUDENTS | Approx 28% | 5.9% |
| INTERNATIONAL EXPERIENCE | Approx. 25% students have some international experience | -Average months of international exp-4.7 years -91.8% have international exposure in terms of work and studies. |
| PROGRAM START/END DATE | April 10, 2011 to April 7, 2012 | April 9, 2011 to March 10, 2013 |
| CLASS PROFILE | 56% Engineers and 5% non Indian passport holders; 25% married students | 55% engineers,50 % with only Bachelors degree,50% with Bachelors and above qualification |
| FACULTY | 30 resident faculty, Over 100 Visiting Faculty from some of the leading B-Schools of the world like Wharton, Kellogg, London Business School, Cornell, Chicago, Duke, and UCLA | -Over 90 Faculty members, over half of them have obtained their Ph.Ds from leading international universities. -Faculty have written 95 international cases, Presented 459 papers at international conferences, Written 405 papers in international journals |
| FEES AND FINANCES | ||
| FEES | -Rs. 21.5 lacs for single students and Rs. 23.1 lacs for married students. -This amount includes Rs.50k towards laptop charges. If you bring your own, this will reduce the above totals by 50k. - The cost of the international component is above this and varies from 6000-10000 USD (approx Rs. 3-5 lacs) | -Rs. 21.0 lacs for single/married students -Other expenses such as Electricity (Rs.15000 annual approx) and Service charges for TV, Cooking gas etc on actuals (Total above includes cost of international component) |
| COMMITMENT FEE AND PAYMENT SCHEDULE | First commitment fee Rs.5.0 lacs, non refundable payable by Nov 27 -Second commitment fee is Rs. 3.0 lacs, non refundable, payable by Jan 15, -Balance payable on joining the program (both lump sum and installment schemes available) | -Non refundable admission fee of Rs. 2 lacs to be paid along with acceptance decision within 15 days from the date of the admission offer. |
| FINANCING OPTIONS | Credila Financial Services Max Amount : 20 Lakhs; Repayment Period: max of 10 years HDFC Bank Max Amount: Rs. 20 lacs or 95% of cost; Interest-11.5% fixed; Repayment Period: 72 months SBI Max Amount: Rs. 20 lacs or 95% of cost; Repayment Period: 7 years. Union Bank of India Maximum Amount: Rs. 20 lacs or 95% of cost; Repayment Period: 7 years Please read http://www.isb.edu/pgp/Loans.Shtml for more details | Allahabad Bank Maximum Amount: Rs. 7,50,000; Repayment Period: max of 7 years Andhra Bank Loan Amount: Rs. 10,00,000; Repayment Period: 5 to 7 years HDFC Bank Loan Amount: Rs. 20,00,000; Repayment Period: 57 months, no processing charges ICICI Bank Loan Amount: Rs. 7,50,000; Repayment Period: 5 years State Bank of India Loan Amount: Rs. 15,00,000; Repayment Period: 84 months and no prepayment penalty. Please read http://www.iimahd.ernet.in/assets/files/pgpxloans2.pdf for more details |
| SCHOLARSHIPS | Approximately 100 scholarships ranging between INR 3,00,000 to 10,00,000 Citigroup- USD12,500. 4-6 schols. Apply by May-June Novartis- INR 4,00,000 -3 schols. Nurture India - 1 schol of Rs. 4,00,000 Manhattan Review-5 schols, Rs. 1lac International Scholarships:ISB-AIESEC 2 schols of Rs. 10 lacs - 10 schols. of 6000-20000 USD La Caixa and Casa Asia Scholarship- Total expenditure (3-5 schols) Talentia Scholarship-“ Total expenditure (variable no. of schols) More details at http://www.isb.edu/pgp/Scholarships.Shtml | No official scholarships as yet. |
| APPLICATION RELATED FACTS | ||
| DATES AND DEADLINES | Separate dates for Indian and foreign students Indian students: Round 1 Application by Sep 15,2011 and offer date Nov 15,2010 Round 2 Application by Nov 15,2011 and offer date Feb15, 2012 -Both rounds acceptance cutoff is 15 days from date of offer Foreign students: Admissions on a rolling basis with a deadline of Feb 15, 2012 | -Last date for filled in applications :August 10, 2011 -Intimation to shortlisted candidates: by September 10, 2011 -Interviews: September-October, 2011 -Intimation to selected candidates: by October 31, 2011 -Acceptance of offer: by November 25, 2011 |
| INTERVIEW CONDUCTED | Yes | Yes |
| EVALUATION CRITERIA | GMAT Score -Leadership Potential -Diversity -Academic Background and Analytical Ability -Work exp Application related Essays -All applicants have to write 3 essays (last is usually optional) The essays require you to have - A clear understanding of why the MBA is needed at this stage in your professional career and what you expect to gain from ISB's program in particular - An evidence of the kind of professional experience you have had which may require you to describe leadership experience, how you have met significant challenges etc - Factors which differentiate you and strengthen the chances of your acceptance | -GMAT Scores -Leadership Profiling -Interviews -Intellectual Caliber -Entrepreneurial Spirit -Managerial/Cultural Exposure Application related Essays -First round of screening involves evaluation on the basis of only the GMAT score and candidate profile including work ex. After this, shortlisted candidates are required to submit essays to given questions. The essays require you to - Show why you need an MBA and how it fits your overall career goals - Give evidence of your leadership experience and provide a descriptive analysis of yourself as a candidate suitable for their program |
| ADMISSION REQUIREMENTS | - No minimum age - Bachelors degree -Preferably two years of experience - GMAT Score | - Bachelors Degree - Minimum age of 27 years at the time of joining - GMAT Score |
| AVERAGE GMAT SCORE REQUIRED | - GMAT scores in a 5 year period prior to application are valid. - Average GMAT of Class of 2010 - 712 - GMAT range 600-780 | Upwards of 700. Also GMAT should be taken in the last 3 years prior to applying |
| PROGRAM DETAILS | ||
| CORE COURSES/TRACKS | (i) Entrepreneurial Venture (ii) Experiential Learning Programme (iii) Independent Study Programme (iv) Corporate Interaction (v)The International Student Exchange Programme | Marketing, Finance, Supply chain management, Strategic management. Programme Segments: PGPX has six segments: (i) Induction (ii) Building Blocks (iii) Preparing for Top Management (iv) International Immersion (v) Electives (vi) Capstone |
| INTERNATIONAL COMPONENT | - 2 terms are spent as an exchange student with any of the 26 schools listed below -ISB also offers South East Asia Business Trek | - Academic Study: 1 Week - Project: 4 weeks - Group Size: 3 - 5 students - Time: 2nd Week of November |
| PARTNER SCHOOLS FOR INTERNATIONAL COMPONENT | - Both Outbound and Inbound exchange programs on offer with the following schools in exchange network North America (USA, Canada) -Darden School of Business, University of Virginia - USA -Haas School of Business, University of California Berkeley - USA -Fuqua School of Business, Duke University - USA -Joseph L. Rotman School of Management, University of Toronto Canada -Kellogg School of Management, Northwestern University - USA -Kenan Flagler Business School, University of North Carolina - USA -Judge Business School, University of Cambridge - UK -Leonard N Stern School of Business, New York University - USA -Queen's School of Business, Queen's University, Canada -Schulich School of Business, York University, Canada -Thunderbird School of Global Management ,USA -The Wharton School, University of Pennsylvania - USA -The Fletcher School, Tufts University - USA Tuck School of Business - Dartmouth College - USA Europe - Bocconi University (MSc) - Italy -Cheung Kong Graduate School of Business - China -College of Commerce, National Chengchi University - Taiwan -ESADE Business School - Spain -London Business School - UK - Otto Beisheim Graduate School of Management, WHU - Germany -Rotterdam School of Management, Erasmus University - Netherlands -HEC School of Management - France -IESE Business School, University of Navarra - Spain -SDA Bocconi School of Management (MBA),Italy IE Business School - Spain Asia, Africa and Australia -Lahore University of Management Sciences - Pakistan -School of Business and Management, The Hong Kong University of Science and Technology - Hong Kong -Faculty of Business Administration, Chinese University of Hong Kong - Hong Kong -NUS Business School, National University of Singapore - Singapore -School of Economics and Management, Tsinghu University - China -The China Europe International Business School - China -The Leon Recanati Graduate School of Business, Tel Aviv University Israel -Melbourne Business School, University of Melbourne - Australia -KAIST Graduate School of Business - Korea -University of Cape Town Graduate School of Business South Africa | The International component only involves outbound programs in partnership with the following schools. North America (USA, Canada) -Columbia Business School, New York, USA -The University of British Columbia, Vancouver, Canada Europe -ESC Bretagne Brest, Brest Cedex 3, France -Frankfurt School of Finance & Management, Frankfurt, Germany -University of Amsterdam, Amsterdam, Netherlands -University of Leeds, Leeds, UK -Warwick Business School, England, UK Asia -The Chinese University of Hong Kong, Hong Kong, China |
| CAMPUS LIFE | ||
| PROFESSIONAL AND SOCIAL CLUBS | -Business Technology Club -Consulting Club -Emerging Markets Club -Energy -Manufacturing -Operations Club -Entrepreneurship -VC Club -Finance Club -General Management Club -Healthcare Club -Marketing Club -Media Club -Net Impact Club -Real Estate Club -Retail Club -Women in Business Club -Arts & Creativity Club -Dance Club -Golf Club - Music Club -Photography Club -Radio Club -International Club -Quiz Club -Theatre Club -Sports Club -Spouse & Family Association | -Abacus - Quant Club -Beta - Finance Club -Consult -Consulting Club -Entre - Entrepreneurship Club Forum for Industry Interaction (FII) -Genesys - Systems Club -LSD - Literary Club -Niche - Marketing Club -IIM Ahmedabad Cultural and Theatrical Society (IIMACTS) -Prayaas - Community Service -Prakriti - Nature Club |
| ACCOMMODATION OPTIONS | Studio apartments and 4 bedroom apartments. | - 203 sq ft Single room with attached bathroom for single students - 676 sq ft 2 room with bathroom for married students |
| EVENTS | Several events and student participation in these is strongly encouraged -Entrepreneurship Conference -Summer Research Conference 2009 -Media Conclave -Global OD Summit 2009 -21st AIMS Annual Management Education Convention 009 -Retail/ Real Estate Conference -Capital Markets Conference -Healthcare / Pharma Summit - Case Writing & Case Teaching Workshop -Talent Management Conclave -CSR Conclave -Second International Conference on Igniting the Genius Within -Business Technology Conclave -ISB Private Equity Conference -The ISB Energy Conclave -Ikshaa-The Marketing Summit -ISB Leadership Summit (ILS) | -Chaos - Cultural Event -Confluence - Internal Business School Meet -Insight - Marketing Fair The course does not emphasize extracurricular activities as much as the ISB course; this also follows from the fact that the age of participants in this program is significantly higher than ISB's typical student and the number of years of work ex is also higher. Plus about 70% of students are married compared with only about 30 % of students being married at ISB. |
| PLACEMENTS | ||
| PLACEMENT SUPPORT | Yes for all students. -Students can also seek guidance from the Advisory Board : a six-member team comprising top HR talent management professionals from Indian and international companies that bring an industry perspective to CAS (Career Advancement Services) operations. | -Placement support for non sponsored students. -Rolling placements system. -For class of 2010, breadth of positions offered included: 1 CEO,1 SVP,3 VP 10 GM,1 Director 8 AVP,16 strategic consulting roles, and several senior manager positions. 5 participants started own businesses and opted out of placements. |
| RECRUITERS (INDICATIVE LIST ONLY) | Consulting - Accenture, McKinsey, AT Kearney, Deloitte Consultants, BCG Technologies / Consulting/ BPO, - Infosys, DELL INTERNATIONAL SERVICES ANALYTICS, Google, Amazon, Bharti Telesoft, NIIT Technologies Ltd., Cognizant, Directi, MicrosoftMedia -Gallup, Dainik Bhaskar, Big 92.7 FM Healthcare/ Pharma - J&J Medical, Pfizer, Novartis, TCG Lifesciences Ltd., Biocon, Dr.Reddy's Laboratories Ltd., Fortis Healthcare Ltd Retail & FMCG - Bharti Wal-Mart, Pepsi, HUL, Coke, Colgate Palmolive Financial Services - Citibank, HSBC, Yes Bank, JP Morgan, TVS Capital Funds Limited, Avaya Global | Consulting - Accenture, McKinsey, PRTM Management Consultants, PWC, Booz Allen, Hewitt IT - Cognizant, Dell, Google, Infosys, iNautix, Tech Mahindra, Wipro, NIIT, Polaris, HCL Opera Solutions, Covansys, Amazon, Retail- Spencer, RPG Group Infra, Energy, Auto etc - Tata Motors, Reliance Energy, Suzlon, Cairn, Hazira LNG, Mahindra & Mahindra, KPIT Cummins, Ceat Tyres, L&T, Marg Infra Finance - ICICI, ICRA, HSBC, Edelweiss Capital, IL &FS Citigroup etc |
| EMPLOYMENT BY FUNCTION (APPROXIMATE) | 31% Consulting, 15% Finance, 10% General Management, 15% IT, 17% Sales and Business Development, 5% Operations, 15% Others including Business Research | About 9% General Management, 19% Consulting, 21% Sales and Business Development, 14% Operations, 3 % Strategy, 25% Project Management |
| EMPLOYMENT BY INDUSTRY(APPROXIMATE) | 27% Consulting, 3% FMCG and Retail, 26% IT/Telecommunication,2% Manufacturing,16% Financial Services, 4% Pharma, 11% Others -12% including media, real estate and diversified companies | 58% IT & ITES, 19%Consulting (Non IT), 3% Conglomerates, 5% Energy/Infra, 8% Finance, 4% Others 5% |
| AVERAGE DOMESTIC SALARY | Approx. INR 16,47,103 | Approx. INR 26,10,00 |
| AVERAGE INTERNATIONAL SALARY | Approx. USD 129,275 | Approx. INR 16,47,103 |
ISB-OR-IIMA
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