Indian Institutes of Management to Increase Fees for 2018-2020 Session

The most desired management course will become costlier from this year. Some Indian Institutes of Management (IIMs) have increased the fees while others are mulling over to increase it by 5-17 percent for 2018-2020 batch. The fees of two-year course in top IIMs like Ahmedabad, Bangalore, Calcutta and Indore to newly opened IIMs at Amritsar, Trichy, Udaipur, Rohtak and Ranchi will range from ₹9 lakh to ₹22 lakh. The IIMs have increased their fees because of the inflation and higher operational cost.

Students will now have to pay Rs 80,000 to Rs 2 lakh to study Masters of Businesss Administration (MBA) from the IIMs. As reported by The Economics Times, director of IIM Indore Rishikesha Krishnan said, “Among IIMs increasing fee this year is IIM Bangalore, which will now charge ₹21 lakh for its two-year programme, up from ₹19.5 lakh last year. IIM Indore is going in for a ₹2 lakh fee increase to ₹16 lakh after two years.”

Students have pay one lakh rupees more to study MBA from IIM Ahmedabad as they have pay Rs 22 Lakh instead of Rs 21 lakh. The fees of IIM Calcutta is also increased to Rs 21 lakh from rs 20 lakh from 2018-2020 session. IIM Rohtak director Dheeraj Sharma said, “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,” reported The Economics Times.

IIM Ranchi has also hiked the fees from Rs 12.5 lakh to Rs 14 lakh, wheras IIM Trichy has increased its fees from Rs 12 lakh to rs 14 lakh. Rs 80,000 is increased by IIM Udaipur, now it will charge Rs 14 lakh. IIM Amritsar is also palnning to raise the fees to Rs 10.5 lakh from Rs 9 lakh. According to The Economics Times, Narayanan Ramaswamy, partner and head, education and skill development, KPMG India said, “The market is determining prices. Salaries have improved so much and there is a sizeable demand for good management talent.”