MBA Scholarships at the Indian School of Business

The Indian School of Business (ISB) is offering five full tuition scholarships through the QS scholarship scheme. We spoke to Rupesh Bisht, senior associate director of admissions, to find out why one should study in India, which industries are hiring, and, of course, who they are looking in their scholarship recipients.

What does the Indian MBA employment market look like now? Which are the biggest industries, and which do you see growing in the near/middle future?

The MBA employment market is looking very robust presently. There will be a substantial hiring of management graduates in 2016 and salaries are projected to go up. MBA hiring opportunities are chiefly in strategy, operations, consumer business, finance and human resources verticals. The largest companies recruiting this year and in the future are e-commerce /online retailers, payment banks, consulting, technology and full service banks.

How about the larger Indian business landscape? What has changed in recent years? What do you see in the future – how will India slot into the global business landscape?

There is a growing demand for leaders who can bring a multidisciplinary approach to business. In recent years, we have witnessed a growing demand in non-traditional MBA industries such as healthcare, real estate, manufacturing and NGOs. New sectors like e-commerce and venture capital backed startups have caught up with some of the conventional recruiters like Banking and FMCG.

India is a net exporter of talent; companies globally are keen to hire people from India for their regional and global offices. The Indian market is taking center stage and is a key component of growth for multinational firms.

Are Indian companies actively seeking non-Indian candidates?

Yes, sporadically. More often, options are discussed with recruiters in specific locations. For example, in 2013, Deutsche Bank sought candidates from Southeast Asia and Mandarin speakers for their corporate and investment banking division. Similarly, Japanese Bank Mizuho looked for candidates from Japan to fill internships for their IB division, and Khazanah Nasional and investment fund of the Government of Malaysia for candidates of Malaysian origin for their KL office.

Why are you targeting non-Indian candidates to study in ISB?

The Indian School of Business is a world-class, global business school and places a lot of emphasis on diversity within the student body; be it diversity in educational background, culture exposure or work experience. This just creates a much more diverse and valuable classroom experience as peer learning is an inherent component of our multi-layered learning methodology. Studying in India adds an emerging markets business context; relevant to anyone who wants to be a part of the next big wave of growth in the world.

What are the advantages of doing an MBA in India for a non-Indian student? How is the Indian business education paradigm unique?

International students who decide to study in India always talk about the learning experience that comes with having to deal with unique situations, doing business in a complex and at many times ambiguous environment, with limited information, which requires quick, and often out of the box thinking. This teaches students to think beyond what they know and question the status quo. It also teaches students that inefficiencies are just great opportunities waiting to be harnessed. Business models that work in India can be replicated, with small tweaks, in various other emerging markets.

Indian business schools offer an outstanding quality of education. Apart from the emerging market advantage and the wealth of opportunities, the unique cultural exposure and great return on investment are some of the reasons students choose India as a study destination.

How does ISB stand out from other Indian schools? And how about in a global context?

ISB’s focus on academic and applied research sets it apart from the various business schools that operate in this part of the world. Unlike other schools we have a rigorous tenure track system for faculty members at ISB.

The faculty we have are top notch, with doctoral degrees from the best schools in the world including Stanford, Wharton, and Harvard. They bring in cutting edge thinking into the classroom, based on their latest research.

In addition to classroom learning, the curriculum integrates applied learning through practicum courses, encouraging students to work with industry on real-world business issues. So you are studying things that will be applicable in today’s fast-moving global environment.

When you compare the ISB experience with other global schools, I think one of the biggest advantages is that exposure to emerging market and related coursework.

With India set to join China as one of the world’s biggest economies soon, students should be plan on enhancing their skills with regard to this new economic order, and ISB is the perfect place to do so.

What does it take to win this scholarship? What are the most important things you look for in a candidate?

This year we are giving out 16 scholarships (five through QS) – full tuition fee waivers worth US$32,500 each to international students. We look for people who are passionate, driven and out to change the world. We look at their academic potential, of course, but we also look at their personal attributes that make them stand out from the crowd. Personal attributes could mean the ability to handle pressure, to innovate, and to think analytically. Creatively, personal and moral integrity and communication skills are also important.

We also look for people who have demonstrated leadership qualities in their professional or personal lives. Leadership qualities don’t necessarily mean leading teams – they could also mean the initiatives taken, achievements, impact-orientation and career progression.