Each year a new chunk of MBA aspirants find themselves in a big dilemma. Therefore which one is better, ISB OR IIM’s? What is the difference between their programs? Why are they named differently? Are these equivalent to the MBA Programs offered abroad? So on and so forth. The confusion is everlasting due to lack of appropriate guidance and clarity. However, if you delve deeper and dig these websites to cull out more and more specific information, you will come across a few facts. Today, based on some feedback from past students and some firsthand research conducted by us we will familiarise you to these business schools. Hence find below some handy facts and figures:
The Indian School of Business has two campuses one in Hyderabad and the other in Mohali. The Indian Institute of Management in Ahmedabad, Bangalore, and Calcutta, on the other hand, are the most prominent ones when it comes to education in Management.
Since in India only Universities can confer MBA degrees these institutions award Post Graduate Programs. Take a look at their names:
o ISB – Post Graduate Programme in Management (PGP)
o IIMA Post Graduate Programme in Management for Executives (PGPX).
o IIMB – Executive Post Graduate Program in Management (EPGP)
o IIMC – Post Graduate Programme for Executives (PGPEX)
Of the programs offered at ISB and IIMs, ISB naturally proves to be more expensive. Hence see how much you will end up spending:
o ISB PGP – INR 3,463,240/-
o IIMA PGPX – INR 25,00,000/-
o IIMB EPGP – INR 25,89,000/-
o IIMC PGPEX – INR 22,00,000/-
The Financial Times Global MBA Rankings 2019 are out, and ISB has outperformed the IIMs. Therefore take a quick look at the rankings:
o ISB with its head high on 24. Within India, it is ranked no. 1.
o IIMA slipped down to 47.
o IIMB up by 2 positions to 33.
o IIMC’s big leap to 49 against 78 last year.
Average Work Experience
For ISB 4.2 years of full-time experience on an average is considered good however for the IIMs 7-9 years approximately is what the trend shows. Their websites claim the following in their admission requirements:
o ISB PGP – At least 24 months of full-time work experience.
o IIMA PGPX – Minimum 4 years of full-time work experience.
o IIMB EPGP – Minimum 5 years (and preferably less than 12 years) of work experience.
o IIMC PGPEX – More than five years of professional experience.
An essential component of the application file, the GMAT averages for each of the programs are as below.
o ISB PGP – 709
o IIMA PGPX – 700
o IIMB EPGP – 709
o IIMC PGPEX – 701
How much did the graduates of these institutions earn post completion of the program? We got these figures straight from their websites:
o ISB PGP Average Domestic CTC INR 22,14,684/-
o IIMA PGPX Mean Fixed yearly cash component INR 23,71,876/-
o IIMB EPGP Mean annual salary INR 23,46,000/-
o IIMC PGPEX average salary of INR 24,45,000/-
ISB has proven itself as the largest management program in India:
o ISB PGP 887 (Hyderabad and Mohali together)
o IIMA PGPX 138
o IIMB EPGP 73
o IIMC PGPEX 66
Looking at the statistics below it is clear that IIMs have a different class composition than ISB.
o ISB PGP 65% Engineers
o IIMA PGPX 86.23% Engineers
o IIMB EPGP 80.82%
o IIMC PGPEX 100% (class of 2019)
Of what we understand the program format differs between ISB PGP and the IIMs. Since both have made their mark on the FT rankings, competition is stringent. However, These are all 1-year comprehensive programs and provide tremendous scope to anyone looking at a career change.
Therefore, which one amongst these is better is a question best answered by applicants. We suggest that you map your profile with the program requirements before deciding on which program to apply. For example, if you have 2-6 years of experience try looking at ISB; for those with more than that focus on IIMs. However, always remember that no single factor can decide your fate. The Adcoms take into account your overall profile before accepting or rejecting your application. Think wisely and get going with your requests. All the best!