Finally, I have IIPed

It's been a long while since I have been here. My apologies for the unusually long absence. I have just finished my IIP (International Immersion Programme). I have been to Amsterdam Business School for the academic component and did my internship in India. Well, it has been a eventful five weeks to say the least. You see, I am building a case for long absence.

First, it was a week at ABS. I am stunned by the quality of the faculty (pleasantly surprised actually). A friend at ABS tells me that they have carefully picked on the faculty to teach us this time. Feels really good in the end to be taught by one of the best corporate law profs in Europe(McCahery), one of the most reputed finance profs (Florencio Lopez Silanes), who I am told is touted to be in the reckoning for a nobel prize for his work on origin of corporate law. Amsterdam was so hectic that we could barely pull out time for other things that Amsterdam is known for.
Amsterdam was exhilarating in many other ways. I have met some interesting students, few desi ones at ABS and a Pakistani student on exchange. The school's support staff was amazing, thanks for all the help Kirsten, if you are reading.

The next phase of IIP was back in India. I was working on a supply chain project in the garment industry. For reasons of confidentiality, I cannot talk much about the project. On a personal note I have been able to get into a nice fitness rhythm, but for the recent injury. So grounded for three weeks before I start running again. Can't see my new pair of Nike & iPod+ turning into a sunk cost, if not anything else.

I have also been getting requests from the PGPX III students about information and other help. Whilst all of the 2's are happy to share most information, it would be useful to have a 3's rep. to collate issues of common interest and liaise with me / us.

As 2007 fades away and a new year begins, for most of us it's a new beginning. Here's also wishing our syndicate partner Rajesh a speedy recovery and healthy new year.

Internship offers & PGPX III Admissions

We did a press conference today. You'll see details in media very soon.

Salient points:
International Immersion PGPX II

1. All students received at least one offer, with some companies being turned down.
2. Significantly higher interest this year with 38 international project offers and 34 domestic.
3. Wide diversity in sponsoring companies ranging from IT, Retail, FMCG, BFSI etc (Microsoft / EDS / Intel / Unilevers / Future group /Morgan Stanley KPO/ Yes Bank / Cisco / Posco / Frankfurt Stock Exchange and so on)
4. IIP module is unique component of PGPX which has a week of academic input at a foreign university and 4 weeks of project work at a sponsoring company. Last year a good number of these internships were converted into pre placement offers.
   

PGPX III Admissions

1. Increased applications this year - 1352 from 849 for last class.
2. Average gmat score 731 (among the highest in the world)
3. Single class (section) next year
4. Appx 40 students currently working abroad
5. 10% are women students
   
6. Foreign students % - No change from PGPX II

With this, PGPX is emerging as one of most sought after MBA programme for experienced people, at least in India for now. Also, the interest among recruiting companies for internships & placements is overwhelming. Companies are discussing dates for recruitment as we come back from IIP by December 3rd week.

PGPX III - FAQs Updated

Edit log:
1. 6th July
2.19th July (point 7 onwards)
3.11th September (point 10 onwards)

A future aspirant of PGPX came over today and we talked about where (&how) this programme will fit / not fit her requirements. I realised some things are common for all aspirants yet many are personal questions. I would be happy to help any future aspirants in this regard. I may not be able to guarantee immediate responses, but will try to do my best.

I would like to discuss some frequently asked questions and MY responses. I shall update this post with my responses from time to time, as I gather more questions.

Disclaimer: As, I am not connected to Adcom in any way, the opinions expressed here are purely personal. There could be significant differences between mine and adcom's views on certain questions. Please visit the IIMA website for official information.

Q1.What is a safe GMAT score?
Raju: Like all other schools proclaim, I would be tempted to say there is no such thing as safe score. The lowest score in our class has been 640. Having said that, I would imagine IIMA might have a preference for higher GMAT scores. If your profile is normal, a 700 would get you past the initial screening, but may not guarantee admission. Remember the applicant numbers are only going up and hence more is the competition. However, a less than 700 with other good application components will also get you past the initial screening, IMO.

Q2.What is your take on the programme?
Raju: When I have made a choice on pursuing a one year MBA, I was mentally ready for a grueling one year. At IIMA, it gets more intense than you can imagine. Hence term 1 was a rude shock for many of us, but many of us got comfortable with the pace and intensity as we moved on. Hence, I would say, this programme is good for those who can really soak in this sort of academic milieu and are ready to take the best out of it. PGPX perhaps has the most number of contact hours for a one year MBA programme.

Most of the faculty and the peer group are awesome, so learning environment is incredible. I am not discussing placements because that has been great from the very first batch itself.

The target applicant is typically more than 27 years old, has substantial work ex (the last two classes' average work ex has been 9-10 years) with a substantial international work exposure. Comparisons seem to be inevitable with other one year programs (such as with ISB) but I would imagine, there isn't any other programme catering to this segment of applicants in this part of the world. IMD and LBS (Sloan) would perhaps be the competing programmes. The programme has made giant strides already in it's second year, thanks to the preparatory efforts of the insti. It will get more international and diverse in future, IMO.

Q3. Please share some unique profiles from the current class.
Raju: The youngest in the class is 27 and the oldest is 49 (well she says, she is a lot younger mentally!). There a couple of entrepreneurs who I find most interesting (they say they are here to recruit talent for their companies), bankers, Accountants, Civil Servants (IAS, IRS, various others), Defense officers, a scientist and the others. The others have a wide range of experience- a director of an MNC, a VP from a leading BPO and so on (some of the senior profiles), while functionally people have manufacturing, sales & marketing, finance & accounting backgrounds from diverse industries. Almost all the participants have great academic pedigree (& a stellar record) or a successful career or both. Please refer to IIMA website for more details.

Hence, it is obvious that individual objectives and take aways from the programme would be very unique.

Q4. What is the focus of the programme / are there any specializations / electives offered?
Raju: The programme is designed to nurture general managers and hence does not offer specializations. However, there are a wide variety of electives on offer which are really batch specific (supply of faculty that year v/s demand of electives from the class). I also realize some courses like mergers and acquisitions which are electives in other programmes elsewhere, are core courses here, in line with the programme objectives.

Q5. Any dope on placements... how do you go about them?
Raju: All PGPX participants come with unique profiles by virtue of substantial work-ex and so are their aspirations. Hence, placements are customized to meet individual needs and the process is designed to meet this requirement; yet, PGPX pioneering batch could achieve100% placements and individual participant needs were met.

Q6. What are the programme USPs? Why should I choose PGPX over others, assuming it meets my needs?
Raju: The following aspects are compelling to a prospective aspirant.

1. Tough selection standards: IIMA continues to choose the best available from the international pool of applicants. I would encourage future applicants to come over to IIMA for a closer interaction with the class, to get a first hand touch & feel. For details, please contact Manager, PGPX.
   
2. Small class size: This helps in knowing all the class mates and form lasting bonds. Also very good from a networking perspective.
3. Great faculty: Most of the faculty at IIMA is awesome and that IMO has been key contributor in IIMA's success, although not so well recognized. Getting into IIMA as a faculty is tougher than getting in as a student. Surviving here as faculty is even more tougher. The feedback and continuous improvement process (to faculty) is very transparent and an effective process.
4. IIMA alumni Network: Being part of the alumni network of Asia's top B school gets you un-paralleled access to many things you may want in your professional life.
   

Added on 19th July 2007
Q7. My GMAT score is not all that high, but I think my overall work-ex is good. Should I apply?
Raju: A lot of people send me mails / leave comments on the blog with this question. Unfortunately, there is no right answer to this question. But in general, if you think you have a profile that you can show case and think you can bring something unique to class discussions and learning, you should go ahead and apply. However, I doubt if GMAT scores less than 640-650 get a dekho, no matter how good the profile is.

Q7. Lot is said and talked about entrepreneurship these days. What is the climate at IIMA for fostering this?
Raju: Super! There are good support systems such as the incubation center, some profs who are happy to help, you have access to funding bodies and more importantly various clubs and informal associations. We have an entrepreneurship club that not only helps budding entrepreneurs but also actively promotes intrapreneurship.

Q8. Is there any industry interface in addition to academics?
Raju: Pretty much. Business leaders from different industries come and interact with us. Jerry Rao (Founder,Mphasis), Basab Pradhan(Founder Grid stone) Rahul Bhasin (MD, Barings Equity), Pulak Prasad (Ex- MD Warburg Pincus), R Subramaniam (Founder Subhiksha chain), Sanjiv Bhikchandani (Founder Naukri.com) are among few luminaries who have interacted with us this year, so far. It has been a great learning experience listening to them and learning.

Q9. What is the International Immersion Programme (IIP) all about? How is this different from a student exchange programme?
Raju: IIP gives a PGPX participant an opportunity to spend a week at a chosen foreign business school and do a project with an organization in an environment different from the participant's home country. Please visit IIMA website for more details. Whilst the participant gains business insights and develops an understanding of host country's context (cultural and economic). The sponsoring company gains fresh perspectives from experienced and bright B School grads. Moreover the time spent (over a month) would give an opportunity to know the prospective hires and a choice of offering a pre-placement offer (PPO). Thus IMO, IIP is really a hybrid between a student exchange programme and a typical summer internship.

Added on 11th September 2007

Q10. Can you talk about the combination (and %) of teaching modes employed by the PGPX (case study/lecture/group projects)? Would be great if you can also mention the opportunities to interact with the industry (live projects/cases etc.)
Raju: Mostly case method driven. However some courses like Macro Economics were dealt in the lecture mode. In some soft courses role plays, seminar formats are also used.

Q11. Are students expected to be familiar with general management topics or are the subjects covered ground up?
Raju: All subjects are covered ground up. During January, PGPX office will send some prep material to all those admitted for some courses in term 1.

Q12. Given that the PGPX is a recent program, are there opportunities to interact with PGP Alumni body?
Raju: Interactions happen when the alumni visit the campus. It will improve as the programme matures.

Q13. How well (or not) is the program suited to career switchers? In other words, what % of the class typically switches careers?
Raju: By design, I think the programme is not meant for career switchers. People would like to capitalize on what they have done for 10 years. However, switches may happen for younger lot (less than 32 yrs)

Q14: The program doesnt require choosing a concentration and emphasizes on general management instead. Does this impact the number and availability of electives?
Raju: Please refer to Q4 on this. There are about 40-50 electives that are/will be offered this year between terms 3 &5, which covers all relevant aspects of a particular area. For example. Fixed income, Advanced Financial Markets etc for people looking Finance focus.

Q15: Can you provide a glimpse of social and professional networking opportunities (clubs, activities etc) available to PGPX students?
Raju:Although all the PGP clubs are open to all Xians, few find time to participate. Networking happens during events like T-nite, Chaos, Insight etc at IIMA. PGPX runs unique clubs like Entrepreneurship, Strategy which have specific needs of experienced participants. Focus of these clubs is to update on industry current affairs, special talks etc.

Q16. Finally, what do you like most about the program, and what do you like least?
Raju: This blog is full of things I like about the programme :)
Awesome faculty, amazing peer group and finally a great culture of IIMA. Things I don't like are a) It's still sarkaari in some areas. Unless the govt. gives a free hand these may not change.

PGPX Selectivity among the top international programs

Yeah, that's right. Sample this information. First graduating class with 60 students out of 730 applicants, a selectivity of 8.22%. The current class with 72 out of 849 applicants has a selectivity of 8.48%. Looking at Business Week information on US Ivy league schools and European top schools tells us these numbers are actually pretty good, for starters. What IIMA has got right in it's formula is from among the Indian pool of applicants (located around the world) who are more than 27 years old, they are perhaps getting the best. This is also validated by the fact that many in the current class chose PGPX over other admits they had. And yes, the yield (no of people accepting offers to total offers made) is around 85% only next to schools like HBS. We learnt about Segmentation, Target market & Positioning (STP) tools in Marketing classes and PGPX programme itself is a good example for this.

Given IIMA's obsession with low selectivity rates this statistic doesn't come as a surprise. On the diversity factor, US schools have international participants upto 35% in general, hence they are by & large American dominated. However, in European schools (like IMD) no single nationality really dominates. In years to come, as IIMA gets into the global league we would have made some big strides along those lines.

Do catch up on Prof Arvind Sahay's (PGPX Chairman) interview on PagalGuy.

PGPX III - FAQs

Edit log:
1. 6th July
2.19th July (point 7 onwards)
3.11th September (point 10 onwards)

A future aspirant of PGPX came over today and we talked about where (&how) this programme will fit / not fit her requirements. I realised some things are common for all aspirants yet many are personal questions. I would be happy to help any future aspirants in this regard. I may not be able to guarantee immediate responses, but will try to do my best.

I would like to discuss some frequently asked questions and MY responses. I shall update this post with my responses from time to time, as I gather more questions.

Disclaimer: As, I am not connected to Adcom in any way, the opinions expressed here are purely personal. There could be significant differences between mine and adcom's views on certain questions. Please visit the IIMA website for official information.

Q1.What is a safe GMAT score?
Raju: Like all other schools proclaim, I would be tempted to say there is no such thing as safe score. The lowest score in our class has been 640. Having said that, I would imagine IIMA might have a preference for higher GMAT scores. If your profile is normal, a 700 would get you past the initial screening, but may not guarantee admission. Remember the applicant numbers are only going up and hence more is the competition. However, a less than 700 with other good application components will also get you past the initial screening, IMO.

Q2.What is your take on the programme?
Raju: When I have made a choice on pursuing a one year MBA, I was mentally ready for a grueling one year. At IIMA, it gets more intense than you can imagine. Hence term 1 was a rude shock for many of us, but many of us got comfortable with the pace and intensity as we moved on. Hence, I would say, this programme is good for those who can really soak in this sort of academic milieu and are ready to take the best out of it. PGPX perhaps has the most number of contact hours for a one year MBA programme.

Most of the faculty and the peer group are awesome, so learning environment is incredible. I am not discussing placements because that has been great from the very first batch itself.

The target applicant is typically more than 27 years old, has substantial work ex (the last two classes' average work ex has been 9-10 years) with a substantial international work exposure. Comparisons seem to be inevitable with other one year programs (such as with ISB) but I would imagine, there isn't any other programme catering to this segment of applicants in this part of the world. IMD and LBS (Sloan) would perhaps be the competing programmes. The programme has made giant strides already in it's second year, thanks to the preparatory efforts of the insti. It will get more international and diverse in future, IMO.

Q3. Please share some unique profiles from the current class.
Raju: The youngest in the class is 27 and the oldest is 49 (well she says, she is a lot younger mentally!). There a couple of entrepreneurs who I find most interesting (they say they are here to recruit talent for their companies), bankers, Accountants, Civil Servants (IAS, IRS, various others), Defense officers, a scientist and the others. The others have a wide range of experience- a director of an MNC, a VP from a leading BPO and so on (some of the senior profiles), while functionally people have manufacturing, sales & marketing, finance & accounting backgrounds from diverse industries. Almost all the participants have great academic pedigree (& a stellar record) or a successful career or both. Please refer to IIMA website for more details.

Hence, it is obvious that individual objectives and take aways from the programme would be very unique.

Q4. What is the focus of the programme / are there any specializations / electives offered?
Raju: The programme is designed to nurture general managers and hence does not offer specializations. However, there are a wide variety of electives on offer which are really batch specific (supply of faculty that year v/s demand of electives from the class). I also realize some courses like mergers and acquisitions which are electives in other programmes elsewhere, are core courses here, in line with the programme objectives.

Q5. Any dope on placements... how do you go about them?
Raju: All PGPX participants come with unique profiles by virtue of substantial work-ex and so are their aspirations. Hence, placements are customized to meet individual needs and the process is designed to meet this requirement; yet, PGPX pioneering batch could achieve100% placements and individual participant needs were met.

Q6. What are the programme USPs? Why should I choose PGPX over others, assuming it meets my needs?
Raju: The following aspects are compelling to a prospective aspirant.

1. Tough selection standards: IIMA continues to choose the best available from the international pool of applicants. I would encourage future applicants to come over to IIMA for a closer interaction with the class, to get a first hand touch & feel. For details, please contact Manager, PGPX.
   
2. Small class size: This helps in knowing all the class mates and form lasting bonds. Also very good from a networking perspective.
3. Great faculty: Most of the faculty at IIMA is awesome and that IMO has been key contributor in IIMA's success, although not so well recognized. Getting into IIMA as a faculty is tougher than getting in as a student. Surviving here as faculty is even more tougher. The feedback and continuous improvement process (to faculty) is very transparent and an effective process.
4. IIMA alumni Network: Being part of the alumni network of Asia's top B school gets you un-paralleled access to many things you may want in your professional life.
   

Added on 19th July 2007
Q7. My GMAT score is not all that high, but I think my overall work-ex is good. Should I apply?
Raju: A lot of people send me mails / leave comments on the blog with this question. Unfortunately, there is no right answer to this question. But in general, if you think you have a profile that you can show case and think you can bring something unique to class discussions and learning, you should go ahead and apply. However, I doubt if GMAT scores less than 640-650 get a dekho, no matter how good the profile is.

Q7. Lot is said and talked about entrepreneurship these days. What is the climate at IIMA for fostering this?
Raju: Super! There are good support systems such as the incubation center, some profs who are happy to help, you have access to funding bodies and more importantly various clubs and informal associations. We have an entrepreneurship club that not only helps budding entrepreneurs but also actively promotes intrapreneurship.

Q8. Is there any industry interface in addition to academics?
Raju: Pretty much. Business leaders from different industries come and interact with us. Jerry Rao (Founder,Mphasis), Basab Pradhan(Founder Grid stone) Rahul Bhasin (MD, Barings Equity), Pulak Prasad (Ex- MD Warburg Pincus), R Subramaniam (Founder Subhiksha chain), Sanjiv Bhikchandani (Founder Naukri.com) are among few luminaries who have interacted with us this year, so far. It has been a great learning experience listening to them and learning.

Q9. What is the International Immersion Programme (IIP) all about? How is this different from a student exchange programme?
Raju: IIP gives a PGPX participant an opportunity to spend a week at a chosen foreign business school and do a project with an organization in an environment different from the participant's home country. Please visit IIMA website for more details. Whilst the participant gains business insights and develops an understanding of host country's context (cultural and economic). The sponsoring company gains fresh perspectives from experienced and bright B School grads. Moreover the time spent (over a month) would give an opportunity to know the prospective hires and a choice of offering a pre-placement offer (PPO). Thus IMO, IIP is really a hybrid between a student exchange programme and a typical summer internship.

Added on 11th September 2007

Q10. Can you talk about the combination (and %) of teaching modes employed by the PGPX (case study/lecture/group projects)? Would be great if you can also mention the opportunities to interact with the industry (live projects/cases etc.)
Raju: Mostly case method driven. However some courses like Macro Economics were dealt in the lecture mode. In some soft courses role plays, seminar formats are also used.

Q11. Are students expected to be familiar with general management topics or are the subjects covered ground up?
Raju: All subjects are covered ground up. During January, PGPX office will send some prep material to all those admitted for some courses in term 1.

Q12. Given that the PGPX is a recent program, are there opportunities to interact with PGP Alumni body?
Raju: Interactions happen when the alumni visit the campus. It will improve as the programme matures.

Q13. How well (or not) is the program suited to career switchers? In other words, what % of the class typically switches careers?
Raju: By design, I think the programme is not meant for career switchers. People would like to capitalize on what they have done for 10 years. However, switches may happen for younger lot
(<30 style="color: rgb(0, 102, 0);">Q14: The program doesnt require choosing a concentration and emphasizes on general management instead. Does this impact the number and availability of electives?
Raju: Please refer to Q4 on this. There are about 40-50 electives that are/will be offered this year between terms 3 &5, which covers all relevant aspects of a particular area. For example. Fixed income, Advanced Financial Markets etc for people looking Finance focus.

Q15: Can you provide a glimpse of social and professional networking opportunities (clubs, activities etc) available to PGPX students?
Raju:Although all the PGP clubs are open to all Xians, few find time to participate. Networking happens during events like T-nite, Chaos, Insight etc at IIMA. PGPX runs unique clubs like Entrepreneurship, Strategy which have specific needs of experienced participants. Focus of these clubs is to update on industry current affairs, special talks etc.

Q16. Finally, what do you like most about the program, and what do you like least?
Raju: This blog is full of things I like about the programme :)
Awesome faculty, amazing peer group and finally a great culture of IIMA. Things I don't like are a) It's still sarkaari in some areas. Unless the govt. gives a free hand these may not change.