ISB Executive MBA
Fees, eligibility, admission requirements, placement, GMAT Score, salary, reviews
ISB, the newest recruit of the elite MBA education family, is rapidly growing in fame. The concoction of two Indian executives at McKinsey and Company, Rajat Gupta and Anil Kumar, has been climbing up in rank, and popularity, having already secured a prominent and cosy situation in being among the top Business Schools in the world.
Its teaching team proudly boasts of resident faculty who are industry experts and academicians, and visiting faculty from Chicago Booth, Cornell, Duke, Kellogg, LBS, Wharton, UCLA, and more.
It offers a wide range of programs, including the full time MBA and two varieties of Executive MBA (not to be mistaken with an MBA for Executives), which affords working professionals the flexibility to engage in advanced business training while maintaining full time employment, without the cost of opportunity (Read Type of MBA Programs).
In this article, we will talk at length about the latter, the Executive MBA programs offered by ISB – the Post Graduate Programme in Management for Working Professionals (PGPpro) and the Post Graduate Programme in Management for Senior Executives (PGPMAX). These are designed for mid to advanced working professionals looking to enhance their careers.
The PGPMAX and PGPpro are not to be confused with the Post Graduate Programme (PGP), which is equivalent to the two-year full-time MBA program offered by global business schools. Hence, before we jump into the discussion of the Executive MBA programs, let us give you a short peek at the PGP program, with links to guide you to the right alley.
The rather confusing nomenclatures, for otherwise globally recognizable degrees, like the MBA or EMBA, is owed to the Indian regulations that prohibit institutes, that are not universities, from granting degrees. Hence, schools like the ISB and IIMs grant equivalent certifications, like PGP, PGPMAX, PGPpro, and others, that serve an identical purpose for a business qualification, and bears equal reverence, if not more, in the worldwide industry.
ISB PGP (Full-Time MBA)
To reiterate, and reinforce, the point of clarification – ISB PGP is NOT an Executive MBA Program. The residential Post Graduate Programme (PGP), has a similar structure and curriculum to a Full-Time MBA.
The PGP is currently globally ranked at 27, by Financial Times, with a consistent performance in the past few years. Its worthiness, in the industry, is quite evident by the ISB Placement Statistics.
In 2017, ISB PGP placements brought in an impressive number of offers, with 1.3 jobs per student. A class size of over 900 students, inclusive of both the Hyderabad and Mohali campuses, had 1113 offers from 411 companies, including big names like McKinsey, Google, Nestle, Axis Bank, Apple, and more.
To apply for a PGP program, you must fulfil certain requirements, as below.
- You should have an undergraduate, or graduate, degree with a minimum of two years of work experience (or less than 24 months for the Early Entry Option). Most (~nearly 45%) accepted candidates, in recent years, generally had from 3 to 5 years of work experience, with the rest from less than 3 to some above 8 years of experience.
- You should provide GMAT/GRE, and TOEFL/IELTS, scores. The mid 80% range of GMAT score, for accepted candidates, spans from 590 to 770, with a mean of over 700.
- Finally, if you are shortlisted, you will be interviewed to fulfil the concluding criteria of selection.
The total tuition expenses are a bit on the hefty side, as compared to other equivalent MBA programs in India, but on par with global MBA programs, especially in the US. It stands at nearly $54,700 (USD), inclusive of taxes, admission fee, and other associated costs. The advantage is, however, that the period of education is shorter, thereby affording lesser time away from full time employment, crunching back the loans sooner than the American MBA candidates. The following page should be able to lead you to further details and a consolidated list of links for related articles,
- ISB Hyderabad/Mohali
- How the ISB Admission Process works and ISB Admissions Round 1 vs Round 2 deadlines
Having, set the information straight at the outset, for ISB’s version of a full time MBA program, let us now focus on how the school manages to make a mark in the flexible, and advanced, MBA program suitable for professionals with considerable experience – the Executive MBA.
ISB Executive MBA Courses
PGPMAX (EMBA) – Post Graduate Programme in Management for Senior Executives
An Executive MBA is designed to suit the needs of professionals who are looking to climb the corporate ladder while not compromising on their current positions, for the duration of the study. ISB’s PGPMAX is equivalent to a Global Executive MBA targeted at experienced workers who are functional or business heads of their organizations.
Candidates usually have upwards of 10 years of work experience, on their resume, with accomplishments to back the veteran status. Adcoms generally prefer candidates over 15 years of experience. However, they do consider less experienced workers who have an exceptional professional record. The purpose of this certification is not to introduce you to business skills, but rather build on your existing skills and develop highly competitive general management techniques, strategic thinking, decision making skills, and exceptional leadership qualities, in you.
Let’s explore some relevant features for a closer look.
The duration of the program is 15 months long and inclusive of a two-week period for international immersion, in USA, at Kellogg and Wharton, and an additional period in China. As mentioned above, the motivation for a PGPMAX comes from the desire to enhance the skills required of a future business leader. The course content is designed to create a mature understanding of the following areas.
- Harvard’s Online Courses on Analytical Concepts in Business Maths & Finance: This five part coursework forms the prerequisite before the start of the term, with an Introduction to Quantitative Methods, Financial Accounting, Finance, Spreadsheet Modeling, and Maths for Business.
- Understanding Business Environment: You will get a thorough look into topics that enable business decision making, such as Uncertainty and Decision Making, with a focus on statistical concepts for managers. Other courses include Accounting Information for Managers, Economics for Managers, and Global Economics.
- Understanding Fundamental Management Concepts: Courses cover a comprehensive study of Financial Decision Making for Managers, Management of Organisations and Leading for Change, Marketing Management, Competitive Strategy, and Managing Global Operations.
- Develop Functional Expertise: A long list of courses designed to enhanceyour knowledge in various functional aspects of business. The training includes a barrage of advanced courses in Marketing, Finance, Accounting, Operations, Strategy, Entrepreneurship, Leadership, and Ethics.
The course format is face-to-face with classes being held for a week, every 6 weeks, at any one of the ISB campuses.
PGPMAX Eligibility, Fees and Placement
Besides the 10 plus years of work experience, required, participants also have to produce a support letter from the current place of employment, allowing the frequent time off from work. Undergraduate/Graduate marksheets, transcripts, proof of income, two professional evaluations, and a final interview need to be concluded before being selected into the program.
There is no mandatory company sponsorship, however, if there is support the school requires a letter acknowledging the same. This is certainly a good avenue to explore since the tuition fee is rather on the hefty side. The total cost of the program, not including taxes, is $59,580 (USD) and it doesn’t include travel expenses to and fro from the classes, at ISB, and the international immersion ticket fares.
And while the good thing is that ISB doesn’t need to see your GMAT/GRE scores for admission, unless you have them ready to spare from a test you have attempted in the past five years, you will not be able to seek out placement services from ISB on account of the company support you have expressed to get into the program. ISB honours this support of employers. But don’t worry, you will either end up in a far cushier role in the same company or find yourself being schmooze talked by a head-hunter.
Here are some useful links for further information about the PGPMAX Program.
PGPpro (EMBA) – Post Graduate Management for Working Professionals
PGPpro follows a weekend EMBA format and is designed for enhancing the career goals of mid-career working professionals in mid-level management. Professionals with a work experience ranging between 5 to 12 years get the opportunity to enhance their leadership skills, critical and integrative thinking, global awareness, and business ethics, to become inspirational future managers in their area of expertise.
The program is offered in Delhi and Hyderabad, without any need for a regular mandatory presence in any of the ISB campuses. The duration of the program is 16 months including two visits to either of the ISB campuses, and an international immersion in an Asian country. The class format makes use of online prep, scheduled in between theface-to-face classes arranged over alternate weekends, thus striking a perfect balance between your degree requirements and your workplace demands.
The program is designed for two major specializations of your choice – Finance and Marketing. Here’s a snippet of their curriculum.
- Preparatory Courses: Quantitative Methods, Financial Accounting, Finance, Spreadsheet Modeling, and Maths for Business are part of the PGPpro’s prep, much like in the PGPMAX curriculum.
- Foundation Courses: Similar to PGPMAX, these set the stage for other advanced courses. Decision Making under Uncertainty and Financial Accounting in Decision Making are part of this module.
- Advanced Courses: Armed with the preparation, the courses, in this module, take a far more comprehensive look at all functional areas of business.
- Elective Courses: These electives concentrate on one of the specializations in Finance or Marketing, diving into topics like Mergers & Acquisitions, Portfolio Management, Marketing Services, Pricing and Distribution, Business Models, and more.
PGPpro Eligibility, Fees and Placement
If you are planning to apply to the PGPpro program, you will need to furnish a 5-12 year work experience in mid-management, along with your undergraduate, or equivalent certificate. You will need to produce a professional recommendation/evaluation from your current supervisor as well as a letter of financial support in case of company sponsorship. You won’t need a GMAT score and if you happen to have one handy, from within the past five years, you are more than welcome to send it along. Though not having a GMAT score will have no bearing on your application. Besides the undergraduate/Graduate academic performance, a final interview will determine your final selection into the program.
If you don’t get a sponsorship from your company, you will need to arrange for a tuition of $47,800 (USD) not including taxes. Cost of study accessories, and travel expenses, are extra.
Placement and career services are provided to help PGPpro candidates in obtaining a desirable position post the certification. This service is, however, abstained from candidates who had company sponsorship, to honour their commitment.
Being a relatively new program, its placement information is still in unravelling mode for us to determine any statistics. However, given the track record of loyal recruiters with impressive offers and overall competitive salary packages, there is a good reason to be convinced of the career growth that will follow the business education under ISB.
Read ISB PGPpro Review
So, while you evaluate your best bet, here’s some food for your thoughts,
- Is ISB still worth the money and time? A statistical analysis – Recruitment and Salary.
- ISB blogs of admitted students
- Is an Executive MBA (EMBA) worth it or not?
- Why regular full-time MBA and not Executive MBA?
- PGPMAX vs PGPpro vs ILPSIE – Which Executive MBA in India is good for you
- Best Executive MBA Programs