February, 2010 | Apphelp blog

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ISB PGPMax – Program info, Requirements, Expenses

What is ISB PGP MAX (http://apphelp.co.in/ISB-PGPMAX.htm)

The Post Graduate Programme in Management for Senior Executives (PGPMAX) has been launched by ISB in December 2009. This management program is made for senior executives, who can’t enroll for a full-time program owing to their hectic work life. It is equivalent to executive management program (or exec MBA).

It is so far the most expensive MBA program in India and also the first in its league.

This is very different from a typical distance MBA and is designed in a way that would not disturb the work life in a major way.

Who should go for it

This is targeted towards senior executives with 10+ years of experience, with potential to become globally renowned business leaders. The executives may be working as a functional leader/ expert or in general management positions. The collective experience of the PGP MAX batch would in itself be a key source of learning.

An indirect audience would also be the organizations who wish to enhance the skills of their leadership teams/ senior members without sending them on sabbatical. Such organizations may sponsor their employees (in part/ full) to pursue PGP MAX program. With the ISB brand, the branding of workforce would also go up.

Why PGP MAX

  • Excellent Brand (ISB is FT 12) and learning opportunity (highly experiences people from across industry)
  • Practically Zero Opportunity cost (learn while you work)
  • Classes will be held for a period of 6 days (every 6th week) at ISB campus. This will allow the candidates to attend the sessions. Travel times range from 3-8 hours from most of the cities in Asia and Europe. Face to face learning in a key highlight of this hybrid program.
  • Opportunity to apply what you learn, simply because you have a sufficient time lag between various learning sessions (6 days each)
  • Access to ISB network, resources and career management services (placement services not included)
  • International stint is another key highlight with a 3 week trip ( 2 weeks in USA and 1 week in Brazil) including industry visits, classes and interaction with top management

How to go about it

The application process was opened on 3rd Dec 2009 and the deadline to submit the application is 15th March 2010. An online application needs to be filled and submitted along with a copy of the resume and certain scanned documents mentioned below:

  • Copy of Passport
  • Bachelors degree certificate and grade/marks sheet(s)
  • Other education documents (if there is some other qualification done)
  • Proof of income
  • Business card of applicant
  • GMAT, TOEFL/IELTS scores, for international candidates

Applicants will be shortlisted for interview (post submission of application and other documents) and final admission decision will be released by 30th April 2010

There is a non refundable application fee of INR 10,000 (approximately USD 200).

It is advisable to take professional help which would guide through application process and essays review.

Other information

Tuition wavers: There are waivers available depending on which category your organization will belong to. Please refer http://www.isb.edu/pgpmax/tuitionwaivers.shtml for details

Payment details: The program fee is INR 25 lacs. Please refer http://www.isb.edu/pgpmax/paymentschedule.shtml for details.

Financing options: Loans are available as per arrangements made by ISB with bank(s). Please refer http://www.isb.edu/pgpmax/financing.shtml for details.

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ISB: Re-applicant strategy

B-schools selection is a process where probability plays a major role. With a wide range of parameters influencing the selection process at ISB, it often becomes difficult to predict whether an aspirant would make it to ISB.

Another important fact is that selection is always relative. Hence it is not just about an ISB aspirant’s profile being good or bad, it is also about profiles of other applicants being better. Hence, if you have got a reject from ISB at either shortlist or post-interview stage, do not lose heart. Here is what you should do if you wish to reapply to ISB.

Break the myth – “Reapplying is bad!”

Most of the people think that reapplying is taken negatively by a b-school. On the contrary, ISB encourages people to reapply. Why? Because it shows that an aspirant is very serious about ISB and people who are willing work on their areas of improvement are always welcome.

ISB had also waived off the application fee for reapplicants at a point of time and similar acts to motivate reapplicants may be expected in future also.

Show how you have improved

The most important question that reapplicants are required to answer is “How has your profile changed from the time you last applied to the ISB?”

Please note that this answer should incorporate the improvements as suggested by feedback by the adcom. For example if adcom had stated that your experience was less, you did not show sufficient leadership/ team work etc. Please ensure that you provide this information. Talk about the facts, new projects, responsibilities and learning from all these in your reapplicant essay. Indicate that you have genuinely worked towards improving your profile basis the feedback given.

Sometimes the feedback indicates that essays need more work or GMAT score could be improved. In such cases, please ensure that you work on your essays/ get them reviewed (NOT WRITTEN) by a third person. You may also decide to write GMAT again, if need be. And if you are writing GMAT again, please highlight the improvement in score in your essays.

Apply early

In order to indicate your genuineness as a reapplicant, you should ideally apply in R1. R2 should be targeted if you are not able to apply in R1 due to any reason. This also indicates that you are keeping ISB at priority vs other b-schools.

Talk to successful reapplicants, alumni or good admission consultants

A fruitful discussion with an experienced person always helps. This gives you the right tips and direction. So, try to find some reapplicant(s) who have been successful and have a word regarding your profile/ ISB feedback and what worked for them. Also talk to some ISB alumni and adcom members (you may attend ISB information sessions in your city). Another way to find alums (willing to volunteer to interact with aspirants) is www.goISB.com, which provides a phone connect feature.

You may also talk to some genuine admission consultants and seek professional guidance.

Financing your MBA – How to pay to the B schools

Entering the world of a top MBA program often comes with a big frill attached – the money required to take care of your tuition fee, living expenses, textbooks etc. A somewhat scary fact about MBA is that this amount is by no means small. It is rather fairly significant. But do not let this pause your efforts or desire to pursue MBA as management education is a long term investment.

First of all let’s understand the meaning of Financial aid

Financial aid can be given by the college/ university, banks, organizations and governments in the form of loans, scholarships, grants, sponsorship etc. At least 50% of the MBA students take some sort of financial aid.

Each MBA aspirant should assess the amount of funds required (depending on where one is applying). Subsequently one should subtract the amount of personal funds available to arrive at the additional funds needed. Please note that if you are considered as a ‘dependent’ by the US federal rules, your parents’ income will also be counted to assess fund requirement. However, if you are considered ‘independent’, then only your (and your spouse’s) income will be counted to find the funds needed.

There are various ways in which financial aid can be arranged to fund your education, as described below.

Federal Student aid:

Almost all business schools use FAFSA (Free Application for Federal Student Aid) for application for federal financial aid. The application is submitted online via the website www.fafsa.ed.gov

Please ensure that you complete the forms appropriately and completely. Please note that this form of financial aid is not easily available for international applicants

Scholarships:

While there are some scholarships available and aspirants should apply for scholarships, depending on relevance, scholarship is not a very dependable mode of financial aid. Number of scholarships is typically limited and many of them do not cover the full cost of an MBA. Hence, even if you manage to get a scholarship, need for a fund is not satiated.

For scholarship programs of respective b-schools please refer to their financial aid section. It is imperative that you apply early to stand a fair chance.

Loans:

Loan is the mode on which 50%- 60% of b-school students rely for financial aid. Many loan programs require a US citizen as co-applicant/ cosigner and this condition becomes a problem for many international students. In case you are likely to face this issue, please choose schools which offer guaranteed loans to their students.

Sponsorship by employer:

This is probably, the best way to finance your MBA so far as monetary liability/ dependence is concerned. Your current organizations may fund your education with certain conditions (work with your organization for minimum 3 years post MBA etc.). Even with this condition, sponsorship is a good option to take as a major part of your post MBA expense and mental stress are taken care of.

Make sure that you bargain for a good position/ compensation deal with your employers.

SOME USEFUL LINKS

http://www.iefa.org/

http://www.internationalstudentloan.com/

http://www.finaid.org/

3 important steps in reapplying to a B-school – MBA reapplication strategy

[youtube:http://www.youtube.com/watch?v=jHtTtUO1G5g]

US B schools which give loans without US cosigner

[youtube:http://www.youtube.com/watch?v=i9H2Gyj7MvI]

Rolling Admissions vs. Round based Admissions

This video talks about differences between rolling & round based admissions and how to handle both.

[youtube:http://www.youtube.com/watch?v=52XMPB9gMmg]

MBA admission interview tips

This video gives an idea of what happens in a typical B school admission interview

[youtube:http://www.youtube.com/watch?v=fABqfOzsPIE]

What makes a good letter of recommendation

[youtube:http://www.youtube.com/watch?v=nw3hghKGiDk]

How to choose B school recommenders

[youtube:http://www.youtube.com/watch?v=eYMMG46n9tI]

How to choose B school recommenders

ISB Mock Interview

This video by Apphelp shows how to handle a typical ISB interview.

[youtube:http://www.youtube.com/watch?v=0fHXTKuuobc]


 

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