till time didn't got any mail from ICICI.............
Updated the sheet..... I would be joining due to following reasons:
1. I wanted to do MBA for sure. Either from this institute or from some other
2. Actually there is no fees. You pay 4.5 Lacs as fees and you get back 7.2 Lacs in course of 2 year MBA. Means, you are actually gaining even while studying
3. Thus, no liability as far as educational loans are concerned, post-MBA. Whatever you earn post-MBA would be with you only. Other top B-schools have fees ranging from 15 lacs to 25 lacs per annum and the educational loans are to be repaid within 7 years from date of completion of MBA. That means, with a loan of 15 Lacs, the emi would be somewhere around 23,000 pm for 7 years. That means, no savings as such for 7 years....
4. Job is guaranteed. Even if out of 15 Lacs (CTC), 35% is variable, you have around 10 Lacs fixed and out of that even if you get just 70% in hand per month, still it would be around 60,000 pm. Rest of the money too will be there for you at the end of the year. Even if you get just 80% of variable pay, it would be 4 lacs. That means, total earning per year could be around (7+4 = 11 Lacs). Rest is LTA, medical, tax etc. Also, variable CTC is now a part of salary structures of most of the companies..... So you can not avoid that.
Comments welcome.....
But one thing cant be ignore that when they can reduce the no of MBA programme participant count they can change anything out of the things which are mentioned on their site.So likly they can can change pay package,job profile etc 2 years down the line.
One concern is that the MBA degree awarded by NIIT Univ is not AICTE recognised.
The FAQ on NIIT University's website mentions this:
FAQ's
@ Abhijit : Well, thats absolutely fine if they change the number of participants. It is not mandatory that they take 120 only. It was just that the maximum seats available are 120 per batch. But they have full authority to change the number of seats. This can not be connected to other things mentioned by them on website
@A.B. : Yes, you are right. But tell me 1 thing buddy. Is ISB approved by AICTIE? Is PGPX course of IIM-A approved by AICTIE? No. Still people fall on each other to get admission in them. Why? Not because they want to learn something new there. It is just because they would get a good salary at the end. Here, the salary is already informed to you in the beginning itself....NIIT is atleast approved by Rajasthan govt. and also it is under UGC act.... So what more can be expected. We should be concerned about the salaries & careers after MBA, not about the approval of the universities. If ICICI has formed a JV with NU, it would surely have some meat in it.... right??
@Rahul, buddy, it would not be right to compare an ISB or IIM-A's course with NIIT as they have a proven track record. :)
The concern arises in case of NIIT because we are not sure of the degree's market value post the 3-year bond period with ICICI.
Agreed the AICTE/NBA recognition might not give it that much value but still you would not want to be in a situation where your degree is not even AICTE recognised.
I am counting on the fact that the ICICI experience would hold a lot of value in the job market post the 3 year bond period, but there are still companies which give a lot of weightage to educational background and the college/university where you studied.
That's why I am a little apprehensive.
Hi Guys,
Let's keep this discussion cool 
Ok, I 'personally' feel. It's a great opportunity because,
- Next time competition will be more tough.
- As someone said we are also earning during course
- Anyhow it's a tailor-made program. We can take it in a fashion assuming your current employer ask you to do a specific domain based training so that he can promote you. Will you do that? I think yes ... but that training is not affiliated by any organization? correct ;)
- Further, please remember that in banking sector, the toughest part is to navigate from junior management to middle management. Here they are actually giving us opportunity to directly get into middle management.
- 'There are no promises'. Even if you look at the offer letter you received after completion of your graduation from your first employer you might find this sentence 'This offer letter does not confirm that company is bound to employ you. Company can take you final recruitment decision at the time of your joining depending upon various factor'
- 15+ LPA is a damm sexy package :w00t:
- After spending 3 yrs with ICICI, you will be recognized by your work (except if are looking for opening in Google or Facebook)
-----
All above words are just my personal opinion as I think everyone is free for his/r views.
I cannot confirm about everyone but if you join this course, you will definitely find me there
... cheers 
@Rahul : Nice inputs dude.. well i too have similar reasons.. aim to do MBA.. but at the same time i cant leave my job.. 😞 distance education was out of my options. at that time, this offer seemed quite promising in terms of career shift and the progress there..
I too am worried about the credibility of the course but i dont see anything wrong considering it. after three years it is the experience that matters mostly..
Good to see this thread being most active :)
Keep going guys!!
other members' inputs are appreciated greatly :)
Cheers,
Harish
@ Rahul & Kapil - Very practical Inputs.
I know that, I will not be able to get tht package in coming 4 years even if i change job, so I am in no doubt of joining this.
Recognition by AICTE doesn't matter, when it is truly sponsored by ICICI Bank, like Kapil said if you r getting confirmation of getting good package after tailor made MBA or any training program like SAP etc...you wont think before joining, will simply join.
ICICI bank is itself a BIG BRAND name, 1 yr of Internship & min 3 yrs of workex (5 if u pay ur complete loan on subsidized rate) wid a bank like ICICI bank, will make you most wanted in Private sector banks. At that time no one will ask about recognition of degree, your knowledge & exp will speak itself.
Will get to live college life again & with no tension of placements is like dream come true :)
I hope we will get mail on Monday morning only, this wait is unbearable 😞
Hi Guyz,
This is Abhishek. I have also been shortlisted for the program!! I attended by GD/PI in the Chennai center.
I have been following this forum for quite a while and truly appreciate the work and the perspective all of u are putting in !!!
Apart from all the other doubts we have, how are we going to handle situation, in case ICICI wants to start this program,say, by April 3rd/4th week. I hope they are considerate enough as they know all the people in for the course are working professionals, but in worst case they insist on starting early... how are we going to put our points through to them ???
and is there anybody from Chennai who got selected in this group ??
Hi Guyz,
This is Abhishek. I have also been shortlisted for the program!! I attended by GD/PI in the Chennai center.
I have been following this forum for quite a while and truly appreciate the work and the perspective all of u are putting in !!!
Apart from all the other doubts we have, how are we going to handle situation, in case ICICI wants to start this program,say, by April 3rd/4th week. I hope they are considerate enough as they know all the people in for the course are working professionals, but in worst case they insist on starting early... how are we going to put our points through to them ???
and is there anybody from Chennai who got selected in this group ??
Abhi, this is quite sure that they will definitely start the course from 3rd/4th week of April.
So have a discussion with your employer and make sure he'll be ready to sell the notice period on education grounds
awaiting list of subjects, structure of the program and identity of professors. I was told in the interview that this information will be put up on their site within 3-4 days. This is a critical information. Hope they publish it on their site sooner. If anyone has any info about it please share.
Also there is no information about hostel fees and mess charges. I checked on NIIT site, the Hostel Rental (Single Seater Room) Rs. 1,48,500 per annum and mess charges 30k per annum. any idea to anyone who will bearing these charges?
Hi Puys..
I had the GDPI on 14th Feb at Hyderabad. I got selected. I got an update that there are around 100+ names shortlisted and still more names yet to come. I have a cousin who works for ICICI in the same grade which we are waiting for..
he told me about this updates..
Congrats to those who made it
and i wish good luck for those who are waiting for the results.
P.S: I made it clear in the interview that I may have to serve for three months before i leave my org.. Dunno for which batch are these names out:| If anyone has any updates regarding the possibility of deferring the admission, pls post :)
Cheers,
Harish
Hi harrissha,
Do u have any update when other merit list be out.....as you have mentioned in your quote........
Hi harrissha,
Do u have any update when other merit list be out.....as you have mentioned in your quote........
Dear Jammy,
The results were out on 03rd march, please check the link here:
Welcome to Our Site
All the best
:cheerio:
Hi harrissha,
Do u have any update when other merit list be out.....as you have mentioned in your quote........
Hi Jammy,
Till now i was updated with that info only. I am not sure if they are going to release any other list.. that depends on the rate of acceptance of the selected candidates and the revised requirement of the bank. I am going to have a detailed discussion with my cousin next week. only after that, i can give some more inputs.. :(
To the other selected and ready to join pagalguys - i too am hoping to join the programme but the major problem is the notice period 😞 in my organization there is no option to buy out the notice period nor compensating with the available PLs.. so need to serve the notice at any cost.. the other option left is - to abscond :(
I made this point very clear in the interview. they also assured me that this will be considered.. Guys - please insist them on the change of joining dates.. i am pretty much sure that they will consider if they hear the same problem from many people..
cheers,
Harish
everyone....please please please update your details in the spreadhseet fast. Atleast we have should have the details by tomorrow!!!!!!!!!!! if we can gather all the questions as well....we can ask for an official contact person from ICICI to answer all these questions officially (written format) then i believe we would be in a better position to decide and also take an "INFORMED" decision.
still there are only 20 or so people in the spreadsheet....are the others not in pagalguy???
Abhi, this is quite sure that they will definitely start the course from 3rd/4th week of April.
So have a discussion with your employer and make sure he'll be ready to sell the notice period on education grounds
Thanks or the reply Kapil. But, how many out here have dropped papers based on the list ??
I'll mostly drop papers once we get the formal e-mail ...
to add to this, as per their initial communication all the processes should have been over by Feb 24 ... but its still not fully over ...thats the reason am expecting atleast a small extension!
And by the way do we have to give them any confirmation ??
A few questions from my side after getting the mail, in which the date of joining & depositing the initial amount would be mentioned:
1. Is there any extension possible in the date of joining? If yes, how much?
2. Which specializations are available?
3. CTC break-up (Fixed component, Variable part, LTA, medical etc)
4. Would there be increment on CTC every year or it would be fixed for 3 year bond period?
5. Can the internship locations be chosen by candidates? If yes, what are the options available?
6. What would be total fees including hostel, library, food etc? Please provide the complete fee structure with no hidden costs.
7. It is mentioned on the website that the students would be getting stipend/scholarships of INR 10,000 pm during training & INR 50,000 pm during internship. Would this stipend/scholarship be available to every student or this would be to selected students only. If it is for selected ones, what would be the selection criteria?
* 7th question comes of my mind because the word "scholarship" is mentioned in FAQs.
Guys, please think for more questions...
A few questions from my side after getting the mail, in which the date of joining & depositing the initial amount would be mentioned:
1. Is there any extension possible in the date of joining? If yes, how much?
2. Which specializations are available?
3. CTC break-up (Fixed component, Variable part, LTA, medical etc)
4. Would there be increment on CTC every year or it would be fixed for 3 year bond period?
5. Can the internship locations be chosen by candidates? If yes, what are the options available?
6. What would be total fees including hostel, library, food etc? Please provide the complete fee structure with no hidden costs.
7. It is mentioned on the website that the students would be getting stipend/scholarships of INR 10,000 pm during training & INR 50,000 pm during internship. Would this stipend/scholarship be available to every student or this would be to selected students only. If it is for selected ones, what would be the selection criteria?
* 7th question comes of my mind because the word "scholarship" is mentioned in FAQs.
Guys, please think for more questions...
Good points buddy,
But 'I think' I already know answer of few,
2- Already mentioned on site
3- will not be disclosed till completion of course
4- Every year *assuming there is no recession
5- No
7- Everyone, you are already the selected one ;)
cheers ...
@ Kapil : Thanks for the replies... But I have some diff. thoughts
2- Already mentioned on site. Right. But i think they are not all. The ones mentioned on website are few of them.
3- will not be disclosed till completion of course. I too think the same. But we need to atleast ask once.
4- Every year *assuming there is no recession Did you get any such information from ICICI? I didnt...
5- No. Again, did u get any such information from ICICI? I didnt...
7- Everyone, you are already the selected one 
. My dear friend, please note that the every information mentioned in the FAQs is for the "selected" guys only (means for us). But at the same time, the term "scholarship" is something that is confusing coz scholarships are always for a few guys & if all the guys who are selected get the scholarship, then why to use 2 words - Stipend/Scholarship - for the same thing???? It may happen that they give scholarship to a few top ranked guys only... However, again, in case u got any information regarding this from ICICI, please let us know. I didnt....
regards,
Rahul