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ISB BCG Alum here :
1. ISB is the #1 product management school in India. Barring none, including IIM ABC. LinkedIn research of top tech FAANG firms + Tech Led Unicorns should rest my case. The alum network in product management is incredibly strong, even rivaling consulting.
2. Product management roles can be obtained pre MBA too but compensation trajectory is very different post MBA. Marketplace pressure in placements drives salaries high in a manner that won't be matched as easily outside
3. Brand opens up a lot of doors post MBA. You will graduate into top leadership positions easier. In a country like ours, don't underestimate the power of a tier 1 brand
BCG 1 - If time allows, can you please share rough numbers on the product manager packages (Fixed base &CTC) offered at ISB.
I am somewhere between applying to ISB and pivot towards Product Management or apply to a college in US which has a strong pipeline to Human Capital Consulting for a a vertical shift.
You are looking at an expense of 40L.
I would see if my firm could sponsor it or should I consider options outside India for a more globally recognised brand with marginal increase in costs.
It isn't hard for an engineer from a Tier 1-2 college to break into product without an MBA. And ISB might be a tad expensive if you just want a return to college life :)
Thanks EY1,
I tried for CAT this year, got some good colleges as well, but was only targeting ABC, FMS, XL this year which I couldn't get.
Now I crossed the sweet sopt of 2 year experience this year and also from salary and effort perspective, I feel that going for CAT next year is not as good as GMAT and then ISB.
ISB will give you a package of 25-30LPA
and a loan of 40L with 8% interest p.a.
(~48L with interest over a period of 4years)
A 30LPA CTC will have an post-tax component of around 22lpa. Subtract 50K monthly routine expenses, you are looking at 16lpa net operating cash flow/year
Assume you start in 2022.
Expect NO SAVINGS till 2025
2022-study year
2023-25: Edu loan repayment
Having said that the value of an MBA is realized in the long run, in your case post 2025
(Top 8 B-school in India. Cost of MBA:20L/2years)
Loan chukane mei 2-3 saal lagega, if you live like a pauper.
That means 24-36months
Long term benefits ki philosophical baatein karni h toh I may not be the best person to answer. Mujhe bhi 3-4 saal hi huye h passout hoke. I earned 4lpa before MBA. But savings wise I am yet behind many of my non-MBA peers (partly because 3aaal tk loan hi bharta raha). Though I will surely go ahead in the coming years..
This might not add to the discussion, but I wanted to understand why people with high calibre and potential, such as the author, chose ISB over other top international colleges
This adds perspective
Thanks C2 and BCG 1
Author,
A quick bkg on me - IITB (tier 1 college) engg grad, 7 years work ex, started in consulting and then shifted to prod mgmt w/o MBA in a unicorn startup. Was not in MBB like you when in consulting, but a lower brand before shifting to product.
My POV on your rationale, hope it helps make an informed choice -
1. Lack of tier 1 college - valid reason. This is indeed a filter put by most recruiters when searching for candidates. You are also likely to meet a more competitive peer set in tier 1 colleges on average, who might shape your personal learnings somewhat differently from tier 2 colleges.
2. In general, I agree with most of the comments here. Recruiters do in general go to top b schools in India to recruit PMs. On average, you are likely to be better off here. The key word being "average".
I had similar doubts over doing an MBA to get into prod mgmt. I included an opportunity cost of time in my mental calculations (along with the financial costs) - is it worth spending 2 more years in college learning business theory vs time spent in the real world solving problems in good product teams ? My answer was no, esp because I had a good junior product mgr opportunity in hand.
Given your bkg, tier 1-2 college working in Bain, a non target school I think. My guess is you are/were already a top performer. Might be worthwhile to get a junior/associate PM gig pre MBA w your existing network and then be a top performer and take it from there. Ultimately, a company cares about its top performers more than enough to look over them having or not having particular degrees. I also don't believe only MBA's can do product mgmt (if that was the case me + product leaders + ceo in my workplace, none of us should have jobs :) ) This would be the fastest & cheapest way to get into a PM role, but if you are unable to find one then a MBA seems like a good bet.
3. B schools are not as fun as undergrads, although a bit relaxing - second hand info I gathered from my peers. Imagine this, all your peers will have 30-40 L loans to clear and internship recruitment will start inside 3-6 months, the rat-race would kick start before you even have the time to catch a breath.
4. Debatable. Compare avg PM salary at b schools vs your current projected salary in sticking out in Bain + job switch/promotion. My guess is the gap would not be too much.
@OP, do your research. If you take a 5-7 year payback period + consider long term earning potential and trajectory, ISB may make sense to you.
Long term earnings are not a philosophical point of discussion. And honestly, if you don't believe us, do your own research and look at folks in the positions you aspire to get, then analyse their pedigree (MBA or not, which schools etc.).
I fully agree with what BCG1 and C1 have said above. The brand matters, and ISB does open doors - if not immediately, then 3-5 years post graduating.
If you can afford to take it, a 40L loan is not an unimaginable investment to make in yourself.
Disclaimer here would be that there are no guarantees in life. ISB is extremely competitive. PM roles are also very competitive. ISB will add to your profile and give you a sound grounding in business skills / knowledge. It'll give you a platform to 'access' these opportunities. Whether you manage to convert anything or not, is up to you.
Also, I'm guessing you're at Bain Capability and not Bain frontend? If yes, it's a lot harder to leverage that brand to get a good exit opp vs the frontend people. Again, in this case, ISB will help you distinguish yourself and break into the 'tier 1' pool vs 'tier 2' / backend. I know it sounds terrible, but unfortunately the Indian market does work this way, esp when there are many applicants for every good opportunity.