IMD - FAQ/AMA - Get replies from current students/alumni/staff

Question

Post your questions for IMD Switzerland Students/alumni/staff here. 
  This topic is part of the  GMATClub School Ambassador Project . For a similar topic on other schools, check  GMATClub School Ambassador Project   
Dear IMD aspirants,
We are starting this topic where applicants can ask their questions. We have contacted a few current students and they agreed to address the queries of applicants. They will also share their learning experiences, new happenings at IMD in this discussion.

No Profile Evaluations Pls,    They will be deleted instantly. Stick to application components and school-related questions.  We have a dedicated thread for IMD Switzerland profile evaluations;  Pls use it to get feedback on your profile.

Current IMD Switzerland Student/Alumni willing to help! :thumbup: :thumbup: 
    VIBIS  - Alumni   
    IMD2020MBA  - Current Student

IMD2020MBA · Answer

Thank you so much Leadership for creating this separate topic, there is not so much I could add.

Run by 5 IMD MBA 2020 candidates to share their experience about the process, reasons why they chose IMD and talk about program experience. They will also be available to address your concerns about the application process and share their insights.

If you don't want to post them directly mail us: imd2020mba@gmail.com

"He that can have patience can have what he will." B.Franklin

shruthiarvindh · Answer

Hi All,

Thank you for pitching in to help. I have the following questions.

About me:
9 yrs of work ex in IBM and family business experience in Dubai.

1. Can you pls let me know the reason why you chose IMD? 
2. Does Amazon visit the campus regularly, if yes what are the leadership programs that they hire for? (Pathways, CLDP etc)
3. There must some people who do not know any other language apart from English, what geographies do they get placed in general?

Posted from my mobile device

IMD2020MBA · Answer

shruthiarvindh,

No problem,

1. I personally chose IMD because I wanted a great school in Europe, with a one year program. And between IE, Insead and IMD the choice was cristal clear to me. I visited three BS and apply for last two, I choice IMD because of the segmentation of Industries the previous MBA had gone to aligned better with my long term goals. But that is my personal view of the issue. I definitely suggest you evaluate why you want to go to IMD, or why IMD suits you.

2. They come they recruit for those programs. I don't know the frequency but I suppose just once per year for the recruiting process.

3. They are not so many people at IMD that only speak English, but my educated guess is they will go to any geography just having in scope they need to work in a multinational or tech company that uses english. Sorry if I can't help you more with this particular issue, but I am pretty sure you could mail IMD and ask.

Cheers,

MBAPrepCoach · Answer

Thanks  IMD2020MBA  !

"visited three BS and apply for last two, I choice IMD because of the segmentation of Industries the previous MBA had gone to aligned better with my long term goals. But that is my personal view of the issue. I definitely suggest you evaluate why you want to go to IMD, or why IMD suits you."

Questions

BS?

"segmentation of Industries the previous MBA had gone to aligned better with my long term goals."

Dont follow what you mean here? Do you mean that The recruiting employers are more concentrated around the industry most aligned with your goals?

Posted from my mobile device

rahulg0113 · Answer

Hi,

I am also an IMD aspirant and will be applying pretty soon. But, I have following queries:-

1) I have read on IMD website that students take loan from Prodigy Finance for 3rd and 4th installments only. I checked with Prodigy Finance and they informed me that there is no such restriction and they can finance upto 100% of tuition fees. Do you have any information on this matter?
2) Based on information gathered from websites, I found that it is very expensive to stay in Switzerland. Could you let me know what is average monthly expenditure? Further, Can you guide me how can I finance my living cost or I have to spend my own savings? 
3) What is placement percentage at IMD? I am not able to find this information from any authentic source.
4) I came to know that I cannot bring my family members on student visa as I am from a third world country. Is it true?

About me: I have 12 years of experience in Power and Oil & Gas Sector Sector.

Leadership · Answer

Hi  rahulg0113  ..
I am not a current student. I am the moderator here. I would like to comment on your points.

1. IMD website mentions that Prodigy will disburse the funds in February (while you are in school). There are two installments - 1st at the time of accepting an offer (non-refundable) and the second one in Sep end. Note that there are two fees associated - One is Tuition fee (CHF 60k) and the other is Fees (CHF 30k) (do not know what is it). Prodigy would give 100% of the tuition fee but not CHF 90k total. I heard a few students got CHF 15k (second installment). Surely, the first one of CHF 15k has be to paid by the student.

2. You got the correct info. Switzerland is expensive. The living cost depends on your living style. IMD recommends CHF 36k for a year. Lunch is included in your fees. Rest, you have to spend by yourself. My suggestion would be to keep CHF 30-40k. You can share the cost of an apartment and utilities with someone (if you want to reduce your spending).

3. Why you aren't able to find this information? You can check the IMD placement statistics on its website. What do you mean by 'Authentic Source'?

4. You got completely FALSE information. IMD supports students and their families. I heard 100% positive feedback. IMD also gives the gym facilities, arrange family events outside and on campus. Remember, you need to show proof of funds so that you and your family can stay.

All the best. The next deadline is July 1. You can find the related information  HERE

rahulg0113 · Answer

Thanks  Leadership  for your reply!

Your reply has raised few more questions in my mind:-

1. If tuition fees is financed by Prodigy, Student has to arrange roughly around 66k CHF (living cost and fees) itself? It is roughly comes out to be INR 50 lakhs. If I want to bring my family to Switzerland during my study, then I have to arrange roughly INR 65lakhs. Can you give me some suggestions how such a huge amount can be managed?

2. I am able to get placement statistics from IMD website. But, nowhere it has mentioned about % of students got placement. If you have any such information, please share with me.

3. Regarding VISA policy, I have searched various websites and found that DEPENDENT VISA is not given to family members of persons who are from NON-EU countries and on student visa. However, EU nationals can bring their family members while they are on STUDENT VISA. So can you please confirm about this information?

Leadership · Answer

Hi  rahulg0113  ..
1. You can ask for loans from your national banks. Take India for example - SBI and HDFC Credila.
Yes, you need to arrange that money if you can't arrange it from banks or private institutions.

2. I am unable to get the exact percentage from IMD's website. If I remember well, it was 83% for 2019 batch. You can refer to various rankings such as FT, Forbes, Bloomberg.

3. You might be right and I am surprised. I need to dig more information about it. Thanks for sharing this info.

rahulg0113 · Answer

Thanks  Leadership  for your reply!

With your reply can I conclude that I can take loan from two agencies. First loan of 60K CHF (tution fees) from Prodigy Finance and second loan of 30k CHF and living cost from local Banks such as HDFC Credila and SBI. Please correct me, If I am wrong.

Further, If you get something about VISA policy for dependents, please do let me know.

Leadership · Answer

rahulg0113  ..
You need to take a loan from either one of them. I gave an example of SBI and HDFC Credila as they offer big loans and might include living cost. Please check with these banks. 
I will let you know of the visa matter.

vibis · Answer

Hey rahulg0113!

Just a short note on my side ab costs of living in Switzerland. IMD is roughly right when it comes to personal expenses being single - some 7k CHF for apartment, 1k CHF insurance, 20k CHF personal expenses and 5k CHF as unexpected expenses.

However, whet it comes to family, the story is different. I moved with wife and 2 kids, here are rough expenses: 5k CHF flight, relocation, documents etc + 15k CHF apartment + 4k CHF apartment deposit (got it back 9 months after leaving Switzerland) + 5k CHF family insurance + 45k CHF personal expenses (~3.5 to 4k CHF monthly expenditures - buying groceries in cheapest supermarkets and McDonalds is the main restaurant we could afford) + 10 kCHF unexpected expenses = total ~85k CHF. Hope this helps to estimate family budget.

On a loan side - I was taking 30k loan from ProdigyFinance, and when I graduated, it become 35k - 3k interest + 2k commission. Just be careful with estimates as commissions and interest will increase the total loan amount substantially when you graduate. This is a heavy burden if you want to get a whopping 60k loan from ProdigyFinance PLUS additional loan from another bank.

akareez · Answer

Hi,

Thanks for taking the time to answer queries.

I am unclear as to how IMD shortlists applicants for assessment day. I would appreciate if you could shed some light on this.

Does IMD read your essays, see the profile and decide to call applicants to the assestment day or is there a preliminary interview from which shortlisted candidates are called for assessment day.

Building on the discussion about prodigy finance, I applied for a loan from prodigy without an admit from IMD. The total sanctioned amount from prodigy finance was USD 90,000. So I believe that they would cover the "additional fees" as well as the "tuition fees". As the loan was never received by me, I might be wrong. Has prodigy finance changed its policy to cover the total 90,000 CHF fee?

Posted from my mobile device

rahulg0113 · Answer

vibis : thank u very much for such a detailed response...

bb · Answer

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