Hi, I am starting this new thread to help people look into the placements of ISB this year and considering that many of you might be applying to ISB this thread might be an eye opener for the amount that you are going to pay. I thought you …
Hi,
I am starting this new thread to help people look into the placements of ISB this year and considering that many of you might be applying to ISB this thread might be an eye opener for the amount that you are going to pay.
I thought you might want to check out the following article. Really worth it before you make your decision trust me:
ISB extends placement season indefinitely
The image of the ex-dean of the college is also considered by the companies coming for placements and i don't even have to mention about Satyam case and ISB ex-dean.
I think aspirants should think twice before they take a decision because once you pay them the advance to reserve your seat(which is a huge amount) you don't get it back. Time to open your eyes.
Take care
Hi,
Well placements are so important because you enter ISB with a debt of around 20L and you need to secure a job to pay it back else you are at the risk of losing your collateral.
Well IIM's have had the difficulty but they have placed their 100% of students in all their courses even in such EXCEPTIONAL years. I think that speaks volumes about the college. Recession in US is no excuse, do they reduce their fees because of recession or do they refund something, why is it that only the students should take the brunt of all this and the institute stays aloof except of extending placements and things like that.
ISB has barely managed 60% placements with some of the highly experienced people earning very low. Students shouldn't get into a state where they are held up with EMI of 40k and end up with a job that after tax gives 60-70k. You are better off without going to ISB then.
Thanks
I did not apply to ISB this year and I don't want to advise anyone here whether to join or not. I would like to emphasize one point here reg. ISB placements. If someone is joining ISB this year that is Class of 2010, I think it is important to look at current placement data because ISB is a one year program. Your placement season will begin in another 6-7 months. And in my opinion, I don't see the economy improving a lot in 6-8 months. So, Class of 2010 may face some of the placement troubles that are faced by the current batch. As for Class of 2011, I think ganster comments apply. I see the economy improving in 20 months (this is just my opinion). So, placements may improve a lot for Class of 2011 though I do not see it going back to the great old days anytime soon.
I fail to understand 1 thing, maybe someone more wise can try and make me comprehend this:
"Why are people so hell bent on emphasizing placements of different colleges for this season which is nothing more than just a exception in MBA placement scenario"??
I mean this is just so not done with ppl taking decision to join the college or not just on the basis of this year's scenario!!! Guys try to understand that this year IS AN EXCEPTIONNNN... even IIMs have faced a lot of difficulty in getting students placed; so does that mean if offered admission to IIM A, we refuse it??
@ target mba
I just want to tell you that IIMs are not exception. The largest recruiting firm at the IIM A has been Union Bank of India. Check the facts. recruited around 18 students. very low salary.
However most of the students still accepted the offer because a large number of students have 0-2 years of experience. most of them are freshers.
On the contrary, at ISB people with 5-6 years experience are not going to settle for Union Bank of India, that too with a salary package of 3-4 lacks per annum.
Dont fall into the trap of IIMs placing 100 % students ads. Look what job offers students have received. most of the Dodgy pvt institutions also claim to have 100 % placements. while the sad truth is that their students work as sales man.
If you want to compare IIM with ISB then compare IIM PGPX programme. and mind you IIM A has not published its placement report for PGPX prog.
thanks
Have a look.
Hiring season for executive programmes extended at IIMs
hiring season is being extended for PGPX programme at IIMs. now I hope that you understand that students with considerable work experience are not ready to settle for an average job ( that too in these tough times).
So placement season is being extended. be it IIM or ISB.
Well honestly speaking this not the right time to get into any b-school, as the markets haven't bottomed out yet and it will take aleast a year for things to get normal after the storm settle(bottom).
But at the same time one can see this situation as a good investment option remember the rule invest when others are logging out.
But one year MBA is a big NO even from IIMs or Kelloggs.
But at the same time one can see this situation as a good investment option remember the rule invest when others are logging out.
But one year MBA is a big NO even from IIMs or Kelloggs.
Be it ISB or IIM's putting comment on their integrity is not a question v students cn atleast put upon coz den v vud nt be the students....Hvng a world rank of 15 nd hoping to subsequently improving it has been a bench mark for ISB vich evn de IIM"s hv nt been able to achieve nd in dese gloomy times v r nt in a position to comment.
ayush13 SaysBe it ISB or IIM's putting comment on their integrity is not a question v students cn atleast put upon coz den v vud nt be the students....Hvng a world rank of 15 nd hoping to subsequently improving it has been a bench mark for ISB vich evn de IIM"s hv nt been able to achieve nd in dese gloomy times v r nt in a position to comment.
Starting next time you post, could you please use proper English words and not SMS-words for the benefit of older people like me.
When we discuss any institution, be it ISB or IIMs, lets not put a halo around these. At the end of day, these institutions are service-providers, maybe of repute; as consumers, we are perfectly within our rights to question the pricing of their services.
Maybe this year is an exception in terms of placements. By this token the service providers should refund certain amount to consumers, i.e. students, because they (service providers) were not able to provide services which they committed - placement guarantee is quite implicit.
Lets not be ostriches by saying "because these institutions never explicitly guaranteed placements, why should we ask for refunds?"
Is it worth spending 19.5 lakh as tution fee and another 2-3 lakhs for accomodation for 1 yr @ ISB keeping in mind the current placement scenario ?? ..
I really dont think so...
I feel that one should also apply to institutes like Chicago Busines School & INSEAD in Singapore which also take GMAT scores and also the expenses will be somewhere equal to those of ISB...
Moreover the placements will also be much above the level of ISB...
I feel that one should also give it a thought...
I am finding this thread quite 'amusing'.. yes this is the right word.
Allow me to add my 2 cents.
1. People are questioning: is it right time to spend 20 lakhs in THIS scenario.
Friends, nobody asked this question last year .. means spending 20 lakhs was 'right' last year for most people.. but see the situation now. Looking back -Was it right? Same rule applies now. yes and no are subjective and vary from one individual to another. Who knows.. people who get-in this year MAY see best placement season ever.
2. Somebody asked - since students did not get services, so fee should be refunded.
as an analogy: Maruti 800, Honda City, and Mercedez.. all provide the same function.. taking people from one place to another. it is personal choice and affordability which one you choose.
Disclaimer- I dont favor any particular school, nor do I support high fee charged. But we are living in REAL life. And like someone said - life is like black guy's left..............
How I wish this was true!!!!
shankla Says......institutes like Chicago Busines School & INSEAD in Singapore which also take GMAT scores and also the expenses will be somewhere equal to those of ISB......
Last month i had posted a comparison on B-schools for 1 yr MBA on the following thread:
http://www.pagalguy.com/discussions/1-yr-pgpm-at-spjain-student-taking-questions-25038340
I had sorted the colleges based on their fees considering the current scenario. If any of you has any idea about the placements of various colleges then pls add one column in that list on placements (avg salary, % of ppl placed etc)....this will help aspiring candidates taking a better informed decision...
Thanks
Himanshu
2. Somebody asked - since students did not get services, so fee should be refunded.
as an analogy: Maruti 800, Honda City, and Mercedez.. all provide the same function.. taking people from one place to another. it is personal choice and affordability which one you choose.
Do you really believe that all 3 provide same function ?
Fee refund - "Somebody" said - a certain portion of fee should be refunded.
A part of MBA price is attributed to the placement services / career management centre / whatever you choose to say.
In absence of placements, this portion of fee should be refunded in good faith. Of course there is no legal binding, but there is something called moral obligation.
Having said that, I think it is the hole in which mostly all the B-Schools are finding themselves into. During the good times, all they could pitch to prospective aspirants was the placement figures. Quality of faculty, education, curriculum, batch profiles, research, networking opportunities they were just brushed under the carpet.
And now, when the aspirants have been brainwashed into thinking that placement is one of the most important parameter of getting an education, aspirants are asking questions like above. Justified? I will say yes.
Cheers,
Rohit
Justified ? I would say No.
None of the admission committees ( of Top Schools ) wants aspirants to opt MBA only for placements. When asked 'Why MBA', aspirants seldom reveal real motive. Usually they avoid 'Money' angle :), and explain the same reasons that you mentioned : Quality of faculty, education, curriculum, batch profiles, research, networking opportunities etc. That said, I would not say ISB fees is justified. But I feel aspirants are more responsible for the decisions they take. After all, ISB is profit-oriented educational institution. I wont be surprised if ISB increases fees again and its not unethical for a private institution.
Considering the current market and the placements that are coming in, I am not surprised at this topic. But like stated repeatedly, even the IIMs are going through the same ordeal. Its stale news that despite boasting 100% placements, the offers at IIM-A has come down by 31%. And 100% placements would attribute to the fact that there is a mix of freshers & experienced candidates at IIMs very unlike ISB, which offers an executive MBA. Obviously such people wouldnt want to settle for anything lesser than what they (think) they deserve for their levels of experience.
What I feel is that your MBA degree is not a 1 or 2 year thing. Its going to be defining your profile even 30 years down the lane. ISB is incredibly difficult to get through (the competition is just going to get tougher!) and considering its global recognition in a considerably short span of time, I would say that 20-25 lakhs that you dish out is totally worth it if u can afford it! Of course, you need to be prepared for the risk (due to market and collateral etc) but if it is feasible for you as an individual & for your family, it is a risk worth taking! The markets are definitely going to bounce back at some time, and once that happens, good chances of you being able to buy back the property which you might have lost!
ISB is a good school. In a country like India in which the ratio of number of good institutions to its population is so less, I think its very encouraging to see places like ISB coming up.
In India most professional institutions are judged by the placements and it is more so in the case of b-schools. There is no doubt that placements play a major part. The gradual rise of IIMs in the past decade and a half and the steep rise in the reputation of ISB is largely because of their placements. The placements at ISB unfortunately have been horrible this year.(sorry for using this , but its a fact). Things become worse when they are compared to those of the IIMs. Even newbie IIMs, namely IK, have managed to get 100% placement. IIM ABCL have done far better.
However, we should overlook a one off case (hopefully). Things are tough for everyone.
So, the question remains in ISB a good option ? Both Yes and No.
Pros of ISB
1) Good program, gaining recognition both nationally and internationally.
2) 1 year program
3) Good industry interface
4) International faculty
5) Great placements (barring 2009 of course)
Cons of ISB
1) New institute - will need time to get an alumni network like the IIMs
2) ISB still considered widely as catering to students who fail to make it into the IIMs (All of them - not just ABCL)
3) Approx. 600 students - likely to get lost unless from IIT / or your resume stands out
4) Average work-ex 5 years. Now I think this is a major issue. When ISB started, IIMs did not have a PGPEX programs. With PGPEX coming up, there is significant competition which could actually reduce the quality of people coming to ISB. Pardon my overindulgence here. I will try to explain.
Freshers - write CAT - Join ABC(if converted else try again)
1 yr workex - write CAT again - Join ABCL(if converted else try again)
2 yr workex - write CAT again - Join ABCLIK(if converted else try again)
3 yr workex - write CAT/GMAT - Join ABCLIK if converted. Also if ISB is converted then choose between ABCL and ISB. Most choose ABCL.
4-5 yr workex- Mostly GMAT - Join ISB/Abroad (not legible for IIM PGPEX 5+ workex min)
5+ workex - PGPEX vs ISB. - Most choose ABCL PGPEX over ISB
Having said that, if you are from the top 5 institutions in the country namely IIM ABCL and ISB, it does not matter. What matters is what you do in your job and not which institute you are from. So, if you get ISB , grab it 
@Acropolis - Sir, though I agree with most of what you say, your last 2 lines appear to me contradictory; I have put those out of context :).
We are discussing here the worth of ISB; to me ISB looks way too overpriced. Lets compare ISB with any reputed US-based school, take PPP = 10
2-yr tuition cost at a US-based B-school = $100k ~ INR 10 lac
1-yr tuition cost at ISB = INR 15 lac
For significantly less "education", ISB charges 50% more.
ISB's defence - slightly less benefits at lower opportuinity cost, thereby implying better ROI.
When ISB's sales pitch is focussed on ROI calculations, aren't students, read consumers entitled to question its pricing, and do their own calculations based on tangible benefits, read placement figures ?
As an aside, why calling a B-school educational institute + placement agency considered a slight to it (B-school) ?
Are B-schools not in the business of facilitating and dare say, kind-of guaranteeing placements ?
If no, then I guess I am totally out of sync with how majority perceives B-schools.
@abhyudaya - firstly, glad to read that you agree with all of my points, except the conclusion
I think taking the PPP into account in not fair. ISB's primary target is Indian students, for whom $100k = 50L vs ISB's 20L. Of course, they do admit foreign students, but of course its to cater to another of its publicity agenda - called diversity.
No B-school/IIT/IIM guarantees placements. It is an incentive and not a right. They do not run as placement institutes. The fact that they are ranked/perceived on the basis of placements is another story. I guess if the students/media start looking at the institute as a whole rather than the placements only - the institutes too would stop projecting their placements.
Over-priced vs under-priced is another question. ISB declares its fees and placement figures beforehand and it is up to us to decide how it fits into our scheme of things. I really do not think ISB anywhere talks about guaranteed placements in its brochure. It does talk about ROI, as you rightly said, but so do other international schools and rankings. IIMs however do not indulge in these things and instead believe in selling the brand.
Like any other institute - ISB too has its flaws. However, you and me cannot undermine the fact that ISB has made a name for itself. The fact that we are discussing it is itself a testimony to the fact.
On a personal note - I would prefer IIM ABCL to ISB any day. IIM IK too maybe in a few years. I truely think that IIMs are value for money. IIMs have solid foundations and the brand value is unmatched (at least as compared to ISB). However, that does not mean ISB is bad.
Bang ! spot on mayank....
I think its fundamental flaw comparing Indian B schools with intl... ISB and IIMS are great schools but their power value only holds in India ..
So coming back to Joining ISB .. it all depends.. on where u want to be placed... if it comes down working in Indian markets.. ISB is way to go even though money spent is huge, the accelerated progress you get in next 10 years after MBA will be sizeable high , f you pass out of ISB( other factors too depend though 😐 )
The funda remains of what you want out of mba. if its fast track progress towards executive management IN India , ISB mba will be worth every penny in the long run...
i have no intention comparing IIM & ISB now... its seperate discussion .. watever i said above holds true in case of IIMs as well .
as it holds Hiring in B schools is always regional(with some exceptions) ... so it all comes down which part of the world u want be in to get the moolah ,
so pls dont be too concerned about placements , what matters is which function /org u are .. and your movement after first few years of MBA which will determine exact potential of you as an individual and your use of MBA education ..
regards,
Arvind
Hi mate, I think the original poster was referring to the singapore facility of INSEAD and Chicago Booth.
Moreover, there are couple of fundamental errors in your post.
1)
Your comparison of placements of ISB vs Chicago is baseless...simply because they cant be compared....ISB is a great school for a career in India, as is INSEAD or LBS or IMD in Europe; but on a global scale no educated human will compare a global top 5 with a local top 2.
And the only reason people choose a Chicago/Fuqua/Wharton/ Harvard is because they want global touch in their resume...else IIMA would be the natural option.
2) Comparing 50 lacs (Booth) vs 20 lacs (ISB) is again baseless because if you pay your fees in dollars you earn in dollars; similarly if you pay in INR you get paid in INR.
So, if you want to make a fair comparison, PPP is the word to be given credit for...so compare the (110000+110000 USD at a Goldman NY) vs (15 lacs +15 lacs in Goldman India)....I am assuming Goldman has IB operations in India and the salary figures in India are mere assumption.
Please dont multiply the USD figures by 50 to arrive at a figure.
This is just an example.
There are so many factors to be considered..Most importantly the standard of living (NYC vs Mumbai).
let me give u an example... One of my friends is an IIMA grad and works with HSBC Global IB operations...he stays in a 1 BHK flat in Bandra (rent Rs 48000) and commutes 2-3 hrs in a day to office.
Compare that to someone living in New Jersey (fair comparison with Bandra)...its just next to NY and you get great houses for 2000 USD and the commute time is zilch.
Also, to other posters, I completely agree with Nothing1954...I would reallyyyyyyyyyyy loooooove to meet a person who goes to b school for quality of education per se without being bothered about placements unless he plans to be an entrepeneur!