The Hyderabad-based ISB is planning to start the Fellow Programme in Management (FPM) in September 2011. "FPM would be equivalent to any PhD programme (in management) worldwide... The programme would be fully-funded and students would receive a stipend of up to Rs 7 lakhs every year," ISB's Dean Ajit Rangnekar told PTI.
A full-time programme, FPM would be for a period of four to five years. With this programme, ISB would focus on creating research-focused people, who would qualify for faculty positions in top business schools. According to ISB's Senior Associate Dean Sanjay Kallapur, FPM would be introduced from September this year and the first batch is expected to have about 10 to 15 students.
An excellent academic record as well as a good score in GMAT or GRE are among the pre-requisites FPM. Graduates, post graduates and those without any work experience can also apply, he noted. The academic year for the programme would be divided into five terms, each having a duration of two months.
FPM would be offered in seven areas -- Accounting, Financial Economics, Information Systems, Marketing, Operations Management, Organisational Behaviour, and Strategy.
The programme incorporates knowledge and best practices from global business school INSEAD.
Regarding expenses related to FPM, Rangnekar said that ISB is expecting to see a cost of about Rs 2 to 3 crore, including stipend to students and salaries to teachers.