Since every young professional in India goes through this popular conundrum in his/her 20s, in this career insight, I am attempting a comparison between the two most celebrated #MBA schools in India.
Directly jumping to the investment cost for the institutions, ISB one year PGP can cost upwards of 33 Lakhs.
On the other hand, IIMs stand at ~24 Lakhs. Of course, this too is also a significant investment.
Though Indian School of Business is a 1-year program.
Hence, the opportunity cost can be lower for ISB as you forgo only 1 year of your salary.
ISB has more than 39% women and ~5–10% of international students. Comparatively, IIMs might have more hom*ogeneity with higher engineering, low female, and almost negligible international representations in their cohort.
But, you may wonder Shatakshi, why is #diversity important?
As someone who runs a higher education venture, our primary focus is getting the most diverse cohort together. Why?
The answer to diversity lies in the history of failed ventures, also caused because of hom*ogenization of thoughts.
Diversity of gender and nations facilitates a diversity of thought, thereby enforcing innovative thinking in young India.
Both these institutions have highly accredited academic professors.
Renowned professors from global institutions such as Wharton, Kellogg, Fletcher, and akin fly in periodically to teach you at ISB. In fact, I had the privilege of attending a lecture from the mayor of New York on ethical leadership and responsibility.
This is where the magic happens.
The discussion and various opinions brought upon by the professors and students open your thought horizons.
At the end of the day, the MBA curriculum is supposed to question your mental model to generate holistic learning.
This brings us to one of our most important sections, which includes the new sector your MBA can help you discover.
ISB is largely globally known for its #consulting and product management employment.
IIMs on the other hand may have better marketing and #finance-related jobs over and above consulting.
So, you ideally should target the school based on the alignment with your goals.
ISB reported an average of 32 lakhs per annum CTC (Source- ET).
While the CTC for IIMs covers ~27 lakhs (Source- 5 MBA forums). A few of the reasons can be that ISB has a larger cohort size thereby attracting more employers with higher CTCs. Over and above this, the average work experience per student is also higher on the ISB campus.
To be fair, frankly, this should not matter as your #career is not a sprint but a marathon.
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As I wrap up this career insight, I am aware this is literally the tip of the iceberg. I understand most professionals are emotionally tied to their alma matter like I am.
To be extra fair to IIMs, they do extraordinary justice to an undergrad who was struggling to get employed and now has hope for the same with IIM MBA.
To conclude, I would love to question the power of an MBA in the changing face of India as I drive an Impact MBA Scholar program for those who can’t afford opportunity cost of leaving a lucrative job and yet want to pivot into consulting, investing, and product management.
At the end of the day, everyone’s financial and family situations are unique.
MBA is not just a financial investment but an emotional one.
Hence, carve your own personal path❤️.
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