Yes, Outlook is a little better than Apple Mail, but neither do IMAP Push. Also Apple Mail -where available- gets the entire mail by pushed while Outlook only gets the headers pushed to the notification center -which explains the quicker notifications. The mail itself is only downloaded once Outlook is started.
What's even worse than that is that Outlook is not a native email-client. It's only a client for Microsofts cloud email services which retrieve and then push mails to Outlook for iPad. Naturally, this requires your confidential logins and emails to be stored on or respectively relayed through Microsofts Cloud servers. Found this out by checking the logfiles of my mailserver... really bad practice... technically a MITM.