Operation of an insulated gate bipolar transistor (IGBT) is monitored by an apparatus that has a capacitor connected between a collector of the IGBT and an input node. A processing circuit, coupled to the input node, responds to current flowing through the capacitor by providing an indication whether a voltage level at the collector is changing and the rate of that change. The processing circuit also employs the capacitor current to provide an output voltage that indicates the voltage at the IGBT collector.