MSc in Quality Management Science by Indian Statistical Institute is a two-year program in Quality Management and its applications with a particular emphasis on Quantitative Methods.
Is the course for you?
Students who aspire to enhance their career options by gaining the contemporary knowledge and perspective required of Quality Managers, Quality Analysts, analytics, quantitative, data science, and those responsible for one or more aspects of quality improvement should apply for this course.
About the Indian Statistical Institute (ISI)
The Indian Statistical Institute (ISI), founded in 1931, owes its origin to the statistical studies and research initiated in the Statistical Laboratory set up in Kolkata’s Presidency College.
ISI strives to develop itself into an institution of excellence in education and research. The Institute recruits talented faculty on a world-wide basis and admits brilliant students from all over the country by a selection process.
Curriculum
The program is divided into four semesters. The first two semesters are offered at Bengaluru, whereas the third semester will be at Hyderabad. The curriculum is a perfect blend of statistics, management, research, dissertation (for two months), and a live project (4-5 months) under the faculty’s direct guidance. The Project work(in the field of Quality/ Operations Research/ Business Analytics/ Data Science/ Machine Learning) will be at the center of the Institute, depending on the project’s location assigned to the student.
So while the program focuses on imparting theoretical knowledge, it makes sure you get ample opportunities to apply it to real-life situations. Moreover, the program offers a flexible format for individuals who want to meet specific career and educational objectives.
Sponsorship
The Institute has a provision for sponsorship by government, semi-government, autonomous institutions, commercial/ industrial organizations, and public sector undertakings, which can sponsor candidates from their establishments. The Institute may apply a different criterion for such candidates. The ISI shall only consider a candidate to be sponsored if the recruiter grants leave and full salary for the entire duration of the program. Such candidates will not receive any stipend and their sponsor employer will have to pay a tuition fee of INR 20000 per year.
Award of Certificates
A student passing a degree program of the Institute is given a certificate mentioning the division. The Certificate is awarded in the annual Convocation of the Institute following the last semestral -examination. Along with the certificate, a mark sheet is also given, including a list of all the credit and non-credit courses taken along with the respective composite scores.
Fee
The Indian Statistical Institute does not charge any tuition fee for this academic program. Students only have to pay a security deposit of INR 2000 (refundable) for library facilities, INR 5000(refundable) for hostel facilities, and the recurring mess charges.
Campus
The Master of Science in Quality Management Science by Indian Statistical Institute is taught in two campuses, First year in Bengaluru and the Second year in Hyderabad, focussing on a separate area of applied statistics and business analytics.
Placements
Placement of students is facilitated by the Placement Committee, for which ISI does not charge any Placement Fee.
- Students passing out in July 2021 are eligible for placement.
- MS QMS second-year course students are eligible for a 5-month internship.
- Students are also eligible for summer & winter internships.
Dates for placement procedures:
- 5 months internship: September(Third week)
- 2 months internship: not yet disclosed
- Full-time placement: First week of November
List of Top Recruiters
ANZ, Boeing, Snapdeal, Kirloskar, TVS, TCS, Infosys, Amec Foster Wheeler, Novel Synth, Mactores, TechMeda, DexLab Analytics
PLACEMENT STATUS 18-20 BATCH
Highest package offered: 20 LPA
Median packageoffered: 15.5 LPA
2 MONTHS INTERNSHIP STATUS 19-21 BATCH
- Highest stipend offered: 55,000 PM
- Median stipend offered: 40,000 PM
PLACEMENT REPORT 5 MONTHS INTERNSHIP STATUS 18-20 BATCH
- Highest stipend offered: 70,000 PM
- Median stipend offered: 50,000 PM
Job Opportunities
Students who pursue the MS QMS program by ISI get job opportunities as Data Scientist, Business Analyst, Quantitative Analyst, Quantitative Researcher, Risk Consultant, Risk Analyst, Data Analytics, Decision Science Consultant, Supply Chain Consultant, Quality Consultant, Business Operation Analyst, etc.
Stipend
A monthly stipend of Rs. 3,000 in the bachelor programs, Rs. Five thousand in the master programs, and Rs. 8,000 in the M.Tech. programs are awarded at the time of admission to each student, which is valid initially for the first semester only. Students receive stipends after the end of each month for twelve months in each academic year. The first stipend is given two months after admission with the retrospective effect provided the student continues in the program he/she got enrolled, for at least two months. Based on these factors: Students having other scholarships, Performance in course work, Attendance, Conduct.
If a student is awarded a stipend/scholarship from another government agency, then the stipend paid by ISI will be discontinued.
Contingency Grant and Prize Money
Each student receives an annual contingency grant of Rs. 3,000 in the bachelor programs, Rs. 5,000 in the master programs, and Rs. 8,000 in the M.Tech. programs provided he/she is entitled to receive full stipends (see Section 5.12 for details). In addition to it, each semester, the Teachers’ Committee may nominate few students for their outstanding performances for a certain amount of cash awards as prize money.
Field Training Programme
All expenses for the necessary field training programs are borne by the Institute, as per the Institute rules. 6.5 Educational Tour Students of all bachelor’s and master’s degree programs are allowed to go for an annual Educational Tour conducted by the Institute.
Computer & Statistical Service Centre
- Lab Facilities
- Network Architecture
- Server facilities supported by High-Performance Cisco Devices
- Software Facilities
- Video Conference
- IP Telephone
The Institute offers the first two semesters at Bangalore, which aims at building a foundation in Statistics, Predictive Modelling, Stochastic Process, Machine Learning, Neural Network, and Operations Research which are the key skills of a competent data scientist. The third semester will be at Hyderabad, which focuses on Six Sigma, Quality Audit & Industrial Experimentation, and Design of Experiments to hone up managerial skills. The fourth semester comprises an industry internship giving a full-fledged experience in solving real-world business analytics problems.
Most of the courses are taught using programming languages such as R, Python, Minitab, Microsoft Excel, and SAS and real-time simulation.
Batch Statistics
The batch of MSQMS 2019-21 is from diverse academic backgrounds having strong knowledge in their respective domain. It includes graduates / post-graduates from renowned institutes (ISIKolkata, CU, BHU, St. Xavier’s College, IIEST, JU, MANIPAL, WBUT). Four of them have rich experience from different corporate sectors like PwC, L&T, Reliance, Infosys.
Conclusion
As the name suggests, this is a management-inclined course. The ISI being an education and research-oriented Institute, allows students to utilize the resource while getting paid. On top of No tuition fee, the placement opportunities the Institute provides are impeccable.
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