IIMs Fee Hike: 9 IIMs Hiked Their Fees By 5-17 Percent
Updated on: 19,April , 2018 - Thu | 10:15:38am

IIMs Fee Hike: 9 IIMs hiked their fees by 5-17 percent



If you dream to get admission into one of the IIM then your IIM's dream just got more expensive because of nine IIMs out of 20 are all set to hike their fees by 5-17%.  Among these 9 IIMs, four IIMs are top ones namely Bangalore, Calcutta, Ahmedabad and Indore and remaining five are its newer campuses.

The reason behind this revision in fee, given by the institute is “the central pay commission award and the goods and services tax (GST)”. Media Sources at IIM-Amritsar said it also looks thoughtfully for a long time at raising its existing fees to Rs 10.5 lakh from the current fee of Rs 9 lakh.

 “Among IIMs increasing fee this year is IIM Bangalore, which will now charge Rs 21 lakh for its two-year programme, up from Rs 19.5 lakh last year. IIM Indore is going in for a Rs 2 lakh fee increase to Rs 16 lakh after two years” Director Rishikesha Krishnan told.

Interestingly, in last month IIM Ahmedabad hike their fee to Rs 22 lakh from Rs 21 lakh. Not only IIM Ahmedabad but also IIM-Calcutta has hiked its fees to Rs 21 lakh from Rs 20 lakh for the upcoming session. Due to this increase in fee, now students will have to pay Rs. 80,000 to 2 Lakhs more for their MBA. 

“The market is determining prices. Salaries have improved so much and there is a sizeable demand for good management talent,” said Narayanan Ramaswamy, partner and head, education and skill development, KPMG India.

Those 9 IIMs which are all set to hike their fee from the academic year 2018-2020 is given below:

Previously, before the fee hike, a two-year postgraduate programme at the IIMs cost Rs 9 to 20 lakh but now the costs likely to touch up to Rs. 22 lakh.

“Increasing fees is now becoming a compulsion for older and mid-level IIMs such as us,” said IIM Rohtak director Dheeraj Sharma.

How much the fees hiked and what will be the fees of these 9 IIMs for the session 2018-2020 is given below in the table (source: The Economic Times (ET)):

S.No

Institute Name

Fees for the session 2018-2020

(Rs. In Lakhs)

% Increase from Previous Year

1.

IIM-Bangalore

21

8

2.

IIM-Ahmedabad

22

5

3.

IIM-Calcutta

21

5

4.

IIM-Indore

16

14

5.

IIM-Rohtak

12.3

7

6.

IIM-Trichy

14

17

7.

IIM Ranchi

14

14

8.

IIM-Amritsar

10.5

17

9.

IIM-Udaipur

Not Available

Not Available

 

From the above table, we can see IIM Ahmedabad has the highest fee of Rs. 22 Lakhs among all the IIMs and followed by IIM-Bangalore and IIM Calcutta having Rs. 21 Lakhs each. In terms of % increase in Institute fees then it has been increased by IIM-Trichy and IIM Amritsar by 17% increase in their fee.

“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,” IIM Rohtak Director Dheeraj Sharma said.


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