Re: Calling all ISB Applicants - (2015 Intake) Class of 2016
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07 Nov 2014, 23:01
ISB Student Diaries #2 : Exchange Programs - Opportunities Unlimited!
The international exchange program at ISB is truly a unique opportunity that is available to every current student. It presents aspiring students with a chance to attend globally renowned business schools such as Wharton, Kellogg, LBS, Stern and the likes. At these institutions, students are able to interact with the best minds from the world over, creating a long-standing association, and leaving mark at a global level themselves. Needless to say, the selection for such a break can be expected to be highly rigorous, with several rounds of tests and interviews, till an exemplary few are chosen to represent the school on the international stage.
However, many are surprised to learn that, rather than being overly specific, the selection process for the outbound exchange program at ISB is absolutely random! Quite literally, every student on campus has an equal opportunity to bid and get selected for exchange to a given school. Here is how it works:
About two months after the first term begins, a date for the exchange program application is set. Every student gets access to a portal where the bidding will take place. On the day of the bidding, a list of institutions available for the exchange is uploaded on the portal. Students have a one hour window in which they can bid for the institutions that most appeal to them. As soon as a student logs in, the system generates a 5 digit number for every application that a student makes. This number is absolutely random. At the end of the 1 hour window, the student who has the lowest 5 digit number for a given school is declared the winner!
However, the student has to confirm the bid for it to be finalized. If a student reconsiders and opts not to confirm, the school is then relisted for round 2 of the bidding. This usually takes place 2 weeks after the completion of round 1. On a rare occasion, if a student confirms a bid but then cancels it later, the student loses 800 points from the 4500 bidding points allotted at the start of the year. Since these points are used to enter popular high-bid courses, the loss can result in a student's inability to apply for major courses later. As such, students always take confirmation of wins very seriously. In any case, accepting an exchange would cost a student 500 bidding points. There are no points deducted for students who bid but do not confirm a win.
While the exchange program is something that several students at ISB may desire to undertake, there are several aspects one needs to consider before deciding to bid. None of the expenses related to travel and stay for the exchange are borne by ISB - it has to be fully funded by the student. Further, the student should be able to accommodate the time needed for the exchange within the time he/she has for other courses. Time management is also affected by the term in which the student has to travel for the exchange and whether it clashes with domestic placement opportunities.
To conclude, ISB's exchange program is a great opportunity for those who wish to build strong global networks and develop a broader perspective of business by interacting with peers and faculty from all around the world. Given that every candidate at ISB is unique and judging them on pure academic criteria may not be fair, the selection is completely random, giving every interested student an equal opportunity to succeed.
'ISB Student Diaries' is a series of articles published by ISBmantra to help prospective applicants develop a better understanding of life at ISB. The full set coming on our website soon.
All the Best!
'ISBmantra'
[Proud to announce that 100% of ISBmantra R1 2014 applicants received an Interview Call]