Dear MBA Applicants,
Hope you are doing well.
Why am I writing? I have a very strong feeling that majority 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).
ISB is a great program but your reasons for joining it should not be driven by costs.
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.
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. Decide that on the basis of the country you want to live in as opposed to the cost of attendance. Irrespective of what you pick, at least you will have gained an admit. Please see the comparison below and make an informed choice.
|School Name||DUKE Fuqua||ISB|
|Tuition + Living||USD 96,850 ( Per Year)
INR 1,34,71,835 ( For Two years)
|Loan Repayment Terms||Max up to 20 years @ 6.5 to 9.12%||Max up to 20 years – 9.8% (average)
(95% of cost of attendance)
|Average Annual Salary||INR 89,15,886 (Joining bonus is separate: INR 23,14,976)
|INR 22,14,684 (No information on joining bonus was available. Not sure if the joining bonus/relocation is a part of this figure).|
|Average Monthly Salary||INR 7,42,990||INR 1,84,557|
|Average Monthly Salary after Taxes||INR 5,57,750||INR 1,24,326|
|Average Monthly expenses||USD 4,500 (INR 3,13,000)
|INR 1,00,000 approximately|
|EMI||20 Years- INR 1,14,966 ( USD 1,653 )
|INR 39,262 (20 Year Repayment)
|MONTHLY SAVINGS||INR 1,29,784
Surplus Available for Car Loans/Home loans
|INR ( Negative)