Why is ISB doing better than old IIMs?
ISB was established in 2001, and is ranked much higher in the Financial Times list of B-Schools.
From the perspective of an aspirant, ISB has caught up incredibly fast in terms of placements and quality of education, considering it is competing with institutes that were established 4 decades before it.
So what is it about ISB’s game plan that has worked out so well for it?
I too had similar questions arising in my mind about ISB after the latest Financial Times B-School Rankings. After speaking to admission consultants and ISB alumni I found that the reason for ISB’s such growth and popularity is because of the disruption it brought in the MBA scenario in India.
IIMs A, B and C were one of the first premiere institutes in the country and opened within few years of each other and set a benchmark. The other IIMs that came after did nothing new and followed what these top three did. ISB, on the other hand, brought in the International standards in terms of admission (accepting GMAT (& GRE recently) scores), faculty (in every term, there are visiting faculties from international top institutes like Kellogs, Wharton to teach various subjects) and even the fees! So, the FT rankings consider various parameters like the ones that ISB follows specifically. The overall admission process at ISB is sorted and looks at the candidate’s overall qualities and not just the GMAT scores even before he/she gets an interview.
Plus, the one-year flagship program with compulsory work-experience of at least two years attracts a totally different set of candidates than what the old IIMs attract. This program of ISB provides less opportunity cost for candidates than the old IIMs. Also, the one-year programs at these IIMs mandate 4+ years of work experience w.r.t just 2+ years of work ex.
These insights are taken from admission consultants's answers on Quora.
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