Why am I writing? I have a very strong feeling that 97% of the readers think that ISB is cheaper than any US Top 10 MBA program. Well, I am writing to offer the best comparison possible between ISB and a US Top 10-business school. I have also inserted appropriate URL’s and loan EMI Calculators for both the countries(India and US).
Sometime ago, one of our applicants who was admitted to both ISB and TUCK picked decided to join ISB and he justified his decision by stating that “TUCK is WAY TOO EXPENSIVE” and “ISB is a cheap School”. Very recently, someone gave up Duke Fuqua for ISB for exact same reasons. I have a strong feeling that you feel the same way too. In order to somehow help you with your decision-making, I decided to do a parallel comparison.
ISB is a great school and we have respected them for the brand they have created in the last decade. However, if you want to pick ISB, you should do so because it is a great school and not because it is a “CHEAP School”. It is not a “CHEAP School”. You have to look at your cash flow situation post MBA.
I spent 8 months with this applicant who turned down Duke Fuqua for ISB as he thought ISB was coming with a price tag of 40%. In order to offer my disagreement, I decided to offer the following comparison to you.
|Total Cost of Education
|Loan Repayment Terms
||Max up to 20 years @ 8.25%
|10-15 Years – 11.5%
|Average Annual Salary
||$ 112167 ( Joining bonus is separate: $ 28000)
INR 69,54,354 + INR 17.36 Lacs Joining Bonus
|NR 17,41,081 (No information on joining bonus was available. Not sure if the joining bonus/relocation is a part of this figure).
|Average Monthly Salary
|Average Monthly Salary after Taxes
|Average Monthly expenses
||$ 2,000 -$3,500
INR 1,24,000-INR 2,10,000
| NR 60,000-INR 70,000
||10 Years- $1913 ( INR 118606)
20 Years-$ 1,329(INR 84,568)
|INR 37,193( 10 Year Repayment)
INR 30,688 ( 15 Year Repayment-Max Term)
||INR 80,000 to INR 2,00,000
Surplus Available for Car Loans/Homeloans
(Considering the max and min range of loan repayment terms and your monthly expenses)
|– INR 4,000( Negative) to INR 10,000
Not sufficient for Car Loans/Home loans
When you pick an MBA program, it is advisable to evaluate your net incoming CASH for the first 5-7 years post MBA. After 5 years, things will look very different.
I really hope you at some point of your life find yourself in this DILEMMA. Irrespective of what you pick, at least you will have gained an ADMIT.
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