IIM or ISB: Which one is Best

IIM stands for Indian Institute of Management while ISB stands for Indian School of Business. The major difference between these two management schools is the fact that IIM offers 2-year management programs for solid academic profiles whereas ISB offers a 1-year PGP program targeted at young industry professionals with work experience.

The article provides information on the main distinctions between the institutions, the courses they offer, the admissions process, the requirements to be admitted, and finally the fee structure. 

Table of Contents

• Key Difference
• Fee Structure
• Admission Procedure
• Eligibility Criteria
• Placements
• Top Recruiters

IIM Vs ISB: Key Difference

To understand the major hype around these two top universities in the nation, students need to be aware of the key distinctions between IIM and ISB.

Indian Institute Management

The Indian Institutes of Management are public business schools for management that are owned by the central government. They offer undergraduate, postgraduate, doctorate, and executive programs in addition to some extra business administration courses.

The coordination of multiple organisational divisions (such as human resources, finance, marketing, and information resources) is covered in the management course in order to achieve an organization's objectives and run the business effectively. Even more courses like Business Analytics, Executive Management, Leadership Programs, PGP, and others are now being offered by the institution.

Indian School of Business

The Indian School of Business is a private business school established in India in 2001. It has two parallel campuses in India, in Hyderabad and Mohali. It offers certificates in various post-graduate management programs. 

The university provides post-graduate degrees in management, management for working professionals, management for senior executives, and management for family businesses. Additionally, the institution offers the ISB Advanced Management Programs in five specializations.

IIM vs ISB: Fee Structure

Below is the list of IIM colleges and their fee structure, along with courses offered by ISB Hyderabad mentioned for the candidates planning to get admissions for their management courses in these prestigious institutions.

List of IIMs and Fee

Below is the list of IIT colleges in India along with their fee structure is mentioned below in the table.

S.No.	Colleges	Fees
1.	IIM Ahmedabad	INR 28,00,000
2.	IIM Bangalore	INR 23,50,000
3.	IIM Calcutta	INR 27,00,000
4.	IIM Lucknow	INR 19,50,000
5.	IIM Kozhikode	INR 17,50,000
6.	IIM Indore	INR 16,00,000
7.	IIM Tiruchirappalli	INR 14,50,000
8.	IIM Udaipur	INR 13,00,000
9.	IIM Raipur	INR 14,20,000
10.	IIM Ranchi	INR 15,50,000
11.	IIM Rohtak	INR 15,00,000
12.	IIM Shillong	INR 14,00,000
13.	IIM Kashipur	INR 7,00,000
14.	IIM Nagpur	INR 13,75,000
15.	IIM Amritsar	INR 10,50,000
16.	IIM Bodhgaya	INR 10,50,000
17.	IIM Sambalpur	INR 13,00,000
18.	IIM Sirmaur	INR 12,50,000
19.	IIM Jammu	INR 13,80,000
20.	IIM Vizag	INR 11,00,000

List of ISB courses and Fee

Below is the list of courses offered by ISB in India along with their fee structure is mentioned below in the table.

S.No.	Courses	Fees
1.	Post Graduate Program in Management [PGPM]	36.30 Lakhs
2.	Post Graduate Programme in Management (Working Executives)	30.46 Lakhs
3.	Post Graduate Program in Family Managed Business [PGPFMB]	41.98 Lakhs
4.	Advanced Management Programme	13.86 Lakhs
5.	Executive Fellow Program in Management [EFPM]	47 Lakhs
6.	Post Graduate Program in Management for Senior Executives [PGPMAX]	41.63 Lakhs

IIM Vs ISB: Admission Procedure

Below are the admission guidelines mentioned for the candidate planning to get admission into IIM and ISB for their management courses in various fields. Candidates must adhere to these eligibility criteria before appearing for these courses. 

IIM

An established protocol governs the admission process to an IIM. For admission to IIMs, aspirant applicants must first register for the CAT exam. However, the steps are listed below:

• Shortlisting Candidates determined by CAT results: Candidates are contacted by the IIMs for admission once they have passed the CAT exam and have a valid CAT score. Each IIM will announce its admission requirements and cutoff via an official announcement posted on its website.
• Eligible candidates may move on to the admissions rounds after that.
• The GD-PI is called for candidates. Based on WAT: The candidate's CAT scores are thoroughly assessed at this level. Only those applicants who met the applied IIM's cutoff are summoned for group discussion and personal interviews.
• Final decision-making and calculation of composite score: In this final step, the composite scores are computed based on particular criteria, such as marks obtained in classes 10 and 12, graduation rates, performance in personal interviews, academic and gender diversity, and job experience.

Read More: IIM Admission

ISB

The ISB essay is crucial in selecting qualified applicants for admission, which the ISB does. A GMAT or GRE score is required for admission to ISB. The ISB admissions team evaluates the applicant's academic aptitude using the GMAT or GRE scores.

​In addition, you must have at least two years of work experience to be admitted to ISB.

IIM vs ISB: Eligibility Criteria

Below are the eligibility criteria mentioned for the candidates planning to get admission into IIMs and ISB. Candidates must check the eligibility criteria before appearing for the entrance exam for getting admission into these top institutes.

IIM

Below are the eligibility criteria mentioned for the candidates planning MBA in IIMs

• The minimum graduation requirement for admission to an IIM is 50% overall or an equivalent CGPA (45% for SC, ST, and PWD/DA categories).
• Candidates taking the bachelor's degree/equivalent qualification exam in their final year or awaiting their results may also apply.
• The candidates must satisfy the IIM shortlist/qualifying cut-off to be called for an IIM interview.
• The minimal IIM call cut-off must be met for candidates to be eligible for interview calls and to participate in WAT/GD-PI

ISB

Below are the eligibility criteria mentioned for the candidates planning MBA in ISB Hyderabad

• Bachelor's degree or equivalent in any discipline from a recognized university.
• Valid GMAT / GRE score.
• Less than 24 months of full-time work experience by class start date 2023.
• TOEFL / IELTS score (only if the language of instruction at the undergraduate study level is not English)

IIM Vs ISB: Placements

Career possibilities and progression at IIM and ISB are comparable when wage packages are compared. It depends on the applicant's profile, industry, educational background, and aspirations.

Placements in IIMs

• 2022 IIMA PGPX placements will see a 20% increase in the median salary.
• At IIMA PGPX, the average domestic salary will increase by 6% in 2022.
• 35% of IIMA PGPX 2022 students were engaged by consulting companies.
• In 2022, IIM Ahmedabad's Executive MBA students earned five international offers.
• In the IIMA PGPX placements 2022, the online services sector hired 20% of IIM Ahmedabad's Executive MBA graduates.

Read More: IIM Placements

Placements in ISB Hyderabad

• Of the majority of placement offers, 41.21% went to female students.
• In the class of ISB Hyderabad placements 2022, 39% of the students were female, which is among the highest percentages among prestigious business schools in this region.
• The consulting sector, IT/ITES/technology industry, BFSI industry, FMCG/Retail industry, and pharma/healthcare industry offered the most roles during the ISB placements in 2022.
• For 2022, the average ISB salary was INR 34.07 lakhs.
• The average package for ISB in 2022 has increased by 20.78% compared to the average CTC of INR 28.21 lakhs for the prior year.
• Compared to their pre-ISB packages, the ISB class of 2022 achieved an increase of roughly three times larger.
• During the ISB placements in 2022, offers were made, with every student receiving an average of 2.32 offers.

IIM Vs ISB: Top Recruiters

For a 1-year executive MBA, IIM Ahmedabad will be a better option than ISB Hyderabad. Because of the course material, placement program, ROI, and popularity among professionals.

The required GMAT cut-off is roughly 700, and the candidate's performance in the Institute's in-person interview will determine their acceptance into the PGPX program.

Recruiters in IIMs

IIM Allahabad received 182 job offers in 2019 and had 153 recruiters come to the campus for the hiring campaign. The maximum CTC was 70 LPA, and the average CTC offered was 25.83 LPA.

McKinsey & Company, Boston Consulting Group, MasterCard, Avendus, JP Morgan, AB InBev, Airtel, CK Birla, and TCS are top recurring businesses.

Recruiters in ISB

Every year, government think tanks, the biggest names in business, and representatives from the public sector sign up to observe the newest business stars shaped by the ISB brand. Other well-known b-schools typically have 200–300 students, whereas ISB typically presents close to 1,000 fresh graduates to potential employers.

Accenture,  Bain and Co, Genpact, Max Healthcare, PwC, Aditya Birla, Citibank, Google, McKinsey, Reliance, APUDF, Deloitte, Hindustan Lever, Microsoft, Shell, Apple, Ernst & Young, ITC, Infotech, Nestle, Times Internet, Axis Bank, Fullerton India, Larsen & Toubro, Pepsico, Zomato