At least nine IIMs are all set to introduce fee hike from the academic session starting from 2018-20 session for its postgraduate programme in management.
14 April 2018: The dream of pursuing MBA from the prestigious Indian Institutes of Management (IIMs) is to get more expensive with the institutes increasing the fee for the programme. Nine IIMs are set to increase the fee of MBA programmes by 5-17 percent. The changes will be introduced from this year only.
According to Economic Times (ET), “At least nine Indian Institutes of Management, from top ones like Bangalore, Calcutta, Ahmedabad and Indore to their newer counterparts at Rohtak, Ranchi, Trichy, Udaipur and Amritsar, have either increased or are in the process of hiking fees by 5-17% for the 2018-20 batch, citing inflationary pressures and higher operational expenses, including faculty salaries and infrastructure costs.”
Last month, the Indian Institute of Management, Ahmedabad (IIM-A) raised the fee of its postgraduate management programme by 1 lakh rupees from the academic session 2018-20. IIM-A Director Errol D’Souza said, "In line with inflation, we shall be raising it by 5 percent. For PGP programme the new fee will be ₹ 22 lakh for two years. There will be 5 percent increase in PGPX (postgraduate programme for executives) fee as well,"
IIM Calcutta has also increased its fee by ₹ 1 lakh while IIM Ranchi raised its fee by ₹ 1.5 lakh – from ₹ 12.5 lakh to ₹ 14 lakh.
Following institutes are all set to increase their fee from the academic year 2018-20:
As per IIM Rohtak Director, Dheeraj Sharma, “After the first 10 years, IIMs are required to generate their own revenue and sustain themselves through their own corpus. Faculty salaries go up, cost of messes goes up, cost of hospitality, security, infrastructure, security goes up, thus necessitating a hike.”
He further added, “Increasing fees is now becoming a compulsion for older and mid-level IIMs such as us.”
IIM Rohtak which is about the complete its 10-year period has raised its fee by nearly 7% for this academic session.