Fees Structure for MBA in IIMs

Fees Structure for MBA in IIMs 

An MBA is one of the most coveted degrees in India, and rightly so; it provides the necessary knowledge and skills to become a successful entrepreneur or business leader in some of the country’s top firms. The CAT examinations, conducted by the Indian Institutes of Management, are the most highly sought-after entry point for aspiring MBAs. The process is extremely competitive, and the selection is based on merit. 

Indian Institutes of Management (IIMs) are premier business schools in India, imparting quality management education through Masters of Business Administration (MBA) programs. Admission to IIMs across India is made through Common Admission Test (CAT). The CAT is a national-level exam conducted every year and is used as the gateway to Management Education in premier B-Schools. 

It Is no wonder then that the CAT examination fees, as well as the fees of IIMs, are among the highest in the country. The CAT exam fee is a non-refundable amount of Rs. 2500 for general category aspirants and Rs. 1500 for SC/ ST/ PwD candidates. The fee amount is accepted in the form of debit cards, credit cards, net banking, or payment wallets. 

The IIMs, in their effort to make MBA education accessible to the masses, have come up with subsidized fee structures that allow candidates who are not able to pay the full fee amount to avail of an installment facility. The fees of IIMs vary from institute to institute. It is important to remember that fees for an MBA in the IIMs are not just one-time but recurrent and the fees keep on increasing year after year. 

For an MBA program, the total fees for the first two years of study at an IIM can range between Rs. 15 lakhs to Rs. 35 lakhs, depending upon the category selected. This amount does not include hostel and mess charges, which can range from Rs. 1 lakh to Rs. 2.5 lakhs per annum. Moreover, there are additional fees charged for membership into the institution’s alumni network. 

The primary fees component of IIMs consists of course fees, registration fees, examination fees, and miscellaneous fees. The course fees account for the bulk of the amount charged, and the charges vary on the type of courses taken. The registration fees cover the routine administrative costs, such as student identity cards and monthly/ semester library charges. The examination fees are applicable for written examinations, assignments, projects, and term papers/ dissertation works. Miscellaneous fees may include charges for extracurricular activities and other services offered by the institute. 

IIMs also offer various scholarships and financial assistance programs to select students. Students are picked based on their previous academic performance. The scholarships may include full or partial tuition waivers and may cover up to 50 percent of the tuition fees. 

The CAT examinations are held twice a year and the fees for the accompanying workshops are separate. The CAT workshop fee is Rs. 4500 for general and OBC candidates, while the fee for SC/ ST/ PwD students is Rs. 2350. It is important to note that the CAT workshop fees are non-refundable. 

To sum up, an MBA from one of the IIMs is one of the most sought-after degrees in India, and rightfully so. The exams to gain entry to the institute are highly competitive and the fees are also quite high. However, there are various scholarships and fee waivers that can help in reducing the burden. 

Out of 20 IIMs, most of the IIMs offer fee waivers for categories, even at the highest end of the range, which can go up to Rs. 40 lacs. Some of the IIMs even offer complete fee waivers to students. Recently, IIM Calcutta announced a complete fee waiver to the top 10 CAT scorers. 

Here Is a list of the 20 IIMs in India: 

• IIM Ahmedabad
• IIM Bangalore
• IIM Calcutta
• IIM Lucknow 
• IIM Indore
• IIM Kozhikode
• IIM Shillong 
• IIM Raipur
• IIM Ranchi
• IIM Rohtak
• IIM Trichy (Tiruchirappalli)
• IIM Udaipur
• IIM Kashipur
• IIM Nagpur
• IIM Visakhapatnam 
• IIM Bodh Gaya
• IIM Amritsar
• IIM Sambalpur
• IIM Sirmaur
• IIM Jammu

Fees structure of various Indian Institute of Management (IIMs) 

The fee structure for each IIM is as follows: 

1. Indian Institute of Management (IIM) Ahmedabad:

The exact fee structure for the MBA program through CAT at IIM Ahmedabad is not provided.  The expected fees for the PGP program for the academic year 2023-2025 is around 32 Lakhs. 

However, here is general information regarding the fee structure for MBA programs at IIMs. 

The fee structure for MBA programs at IIMs can vary from one institute to another. The fees for the PGP (Post Graduate Program) flagship course at IIMs can range from Rs. 11.75 lahks to Rs. 32 lahks. It’s worth noting that the fee structure for newer IIMs may be relatively lower, with fees under Rs. 16 lacking. 

Additionally, IIMs often offer scholarships and financial assistance to deserving candidates. These scholarships can be based on various criteria such as merit, underrepresented gender, fine arts/sports achievements, armed forces professionals, differently-abled students, and more. 

2. Indian Institute of Management (IIM) Bangalore:

The fee structure for MBA programs at IIMs can vary from one institute to another. The fees for the PGP (Post Graduate Program) flagship course at IIMs can range from Rs. 11.75 lahks to Rs. 32 lahks. It's worth noting that the fee structure for newer IIMs may be relatively lower, with fees under Rs. 16 lacking. 

In the case of IIM Bangalore, the expected fee for the PGP program for the academic year 2023-2025 is around Rs. 24.5 lakhs. This fee is inclusive of components such as tuition fees, internet charges, library fees, hostel room charges, and other expenses. 

Additionally, IIMs often offer scholarships and financial aid to deserving candidates. These scholarships can be based on various criteria such as merit, economically weaker sections, and more. 

3. Indian Institute of Management (IIM) Calcutta:

The fee structure for the MBA program through CAT at IIM Calcutta is as follows: 

The program fees for the academic year 2024-25 are set at Indian Rupees 31,00,000/- (non-refundable) or equivalent US$ for one year, payable in four installments. The payment schedule is as follows: 

1. Payment of Indian Rupees 2,00,000/- (commitment fee) at the time of acceptance of the admission offer. 
2. Payment of Indian Rupees 10,00,000/- by 15th March 2024 (second installment). Additionally, a security deposit of Rs 60,000/- is to be paid along with the second installment, which will be refunded on completion of the program after necessary adjustments of dues, if any. 
3. Payment of Indian Rupees 10,00,000/- by 21st July 2024 (third installment). 
4. Payment of Indian Rupees 9,00,000/- by 24th November 2024 (fourth installment). 

The program fees cover tuition fees, the cost of course material, books, accommodation, economy airfare, and some incidental expenses of the immersion program organized by IIM Calcutta. However, charges for electricity, food, and expenses of a personal nature are not covered by these fees and will have to be borne by the individual student. 

4. Indian Institute of Management (IIM) Lucknow:

The fee structure for the MBA program through CAT at IIM Lucknow is as follows: 

The total fee for the MBA program at IIM Lucknow is INR 19.25 lakh. The fee is paid semester-wise, and upon admission, an amount of INR 3.95 lakh is to be paid, which includes an INR 20,000 refundable amount. 

The fee structure is divided into various components, and here is the breakdown of the fee for the PGP program at IIM Lucknow: 

Term I: 

• Admission Fee: INR 70,000 
• Tuition Fee: INR 1,90,000 
• Infrastructure Fee: INR 1,15,000 
• Total Fee for Term I: INR 3,75,000 

Term II: 

• Tuition Fee: INR 1,90,000 
• Infrastructure Fee: INR 1,15,000 
• Total Fee for Term II: INR 3,05,000 

Term III: 

• Tuition Fee: INR 1,90,000 
• Infrastructure Fee: INR 1,15,000 
• Total Fee for Term III: INR 3,05,000 

The total Fee for the MBA program is around: INR 19,25,000 

5. Indian Institute of Management (IIM) Indore:

The fee structure for the MBA program through CAT at IIM Indore for the batch of 2023-25 is as follows: 

Post Graduate Programme in Human Resource Management (PGP-HRM): 

First-Year Annual Fee (2023-24): 

• Course Fee: INR 8,00,000 
• Medical Insurance Premium: INR 711 
• Refundable Caution Deposit: INR 50,000 
• Mess Deposit: INR 54,000 
• Grand Total: INR 9,04,711 

Second-Year Annual Fee (2024-25): 

•  Course Fee: INR 9,25,000 
•  Alumni fee including GST: INR 10,000 + GST 
•  Mediclaim Insurance Premium: INR 711 
•  Grand Total: INR 9,37,511 

It's important to note that the fee structure provided is specifically for the PGP-HRM program at IIM Indore for the batch of 2023-25. For a detailed breakdown of the fee structure and installment amounts, please refer to the official website of IIM Indore. 

6. Indian Institute of Management (IIM) Raipur:

The fee structure for the MBA program through CAT at IIM Raipur is as follows: 

For the PGP (Post Graduate Programme) batch of 2023-2025: 

1st Year Fees: 

Academic Fees:  

• 1st Term: ₹2,49,150 
• 2nd Term: ₹2,29,350 
• 3rd Term: ₹2,28,800 
• Total: ₹7,07,300  
• Lodging Charges: ₹21,000 per term 
• Medical Insurance Charges: ₹1,200 per term 
• Students Association Fees: ₹6,000 per term 
• Alumni Activities: ₹10,000 per term 
• Total (1st Year): ₹7,87,500 
• Caution deposit (one time): ₹30,000 
• Total (Including Caution deposit): ₹8,17,500 

2nd Year Fees: 

Academic Fees: 

• 4th Term: ₹2,50,470 
• 5th Term: ₹2,30,670 
• 6th Term: ₹2,30,120 
• Total: ₹7,11,260 
• Lodging Charges: ₹21,000 per term 
• Medical Insurance Charges: ₹1,200 per term 
• Total (2nd Year): ₹7,75,460 
• Total Fees (Excluding Boarding Charges): ₹15,92,960 

Please note that boarding (mess) charges range from ₹15,000 to ₹22,000 per trimester, and it is not included in the above fee structure. 

7. Indian Institute of Management (IIM) Tiruchirapalli:

The fee structure for the MBA program through CAT at IIM Trichy (Indian Institute of Management Tiruchirappalli) is as follows: 

The total fee for the PGPBM (Post Graduate Program in Business Management) program is Rs. 11,80,000/- plus applicable taxes. This fee includes tuition, library, case permission royalty, textbooks, academic course pack, examination, and alumni activity. Additionally, there is a refundable caution deposit of Rs. 10,000/-. The course fee is structured to be paid in eight installments, with the first installment of Rs. 2,10,000/- due at the time of offer acceptance. 

The subsequent installments (II to VIII) amount to Rs. 1,40,000/- each, and they are due every three months. The specific due dates for each installment will be announced by the PGPBM Office. 

Here is the installment schedule for the PGPBM program at IIM Trichy: 

1. 26th August 2022 (Offer acceptance) - Rs. 50,000/- 
2. 30th August 2022 (1st installment balance, Caution deposit of Rs. 10,000/-) - Rs. 1,60,000/- 
3. 5th January 2023 - Rs. 1,40,000/- 
4. 5th April 2023 - Rs. 1,40,000/- 
5. 5th July 2023 - Rs. 1,40,000/- 
6. 5th November 2023 - Rs. 1,40,000/- 
7. 5th February 2024 - Rs. 1,40,000/- 
8. 5th May 2024 - Rs. 1,40,000/- 
9. 5th August 2024 - Rs. 1,40,000/- (Includes the Caution Deposit of Rs. 10,000/- refundable on graduation/withdrawal from the program) 

8. Indian Institute of Management (IIM) Udaipur:

The fee structure for the MBA program through CAT at IIM Udaipur (Indian Institute of Management Udaipur) is as follows: 

For the MBA program (2 years), the fee structure of IIM Udaipur is as follows: 

First Year: 

• Term I: Rs. 2,53,400/- 
• Term II: Rs. 3,08,400/- 
• Term III: Rs. 3,08,400/- 

Second Year: 

• Term IV: Rs. 2,78,400/- 
• Term V: Rs. 2,78,400/- 
• Term VI: Rs. 2,78,400/- 

The above figures are in Indian Rupees (INR) and include components such as tuition fees, hostel charges, mess charges, and caution deposits. The mess charges will be as per actuals, and any changes will be notified by the institute. 

9. Indian Institute of Management (IIM) Kashipur:

The fee structure for the MBA program at IIM Kashipur for the 2023-25 batch is as follows: 

MBA I (2023-24): 

• Admission Fee: ₹25,000 
• Term-I: ₹3,18,000 
• Term-II: ₹2,82,000 
• Term-III: ₹2,82,000 
• Term-IV: ₹2,84,000 
• Term-V: ₹2,82,000 
• Term-VI: ₹2,82,000 
• Total: ₹17,30,000 

MBA II (2024-25): 

• Term-I: ₹2,82,000 
• Term-II: ₹2,82,000 
• Term-III: ₹2,84,000 
• Term-IV: ₹2,82,000 
• Term-V: ₹2,82,000 
• Term-VI: ₹2,82,000 
• Total: ₹16,96,000 

The total fees for the entire MBA program (2023-25) at IIM Kashipur amount to ₹34,26,000. 

10. Indian Institute of Management (IIM) Nagpur:

The fee structure for the MBA program at IIM Nagpur through CAT is as follows: 

For Domestic Candidates: The total fee for the MBA program at IIM Nagpur for the batch of 2023-25 is ₹18,90,000, excluding a refundable caution deposit of ₹50,000. The payment of offer acceptance and term fees is done online, and a payment link will be shared with the candidates for the same. 

For Overseas Candidates: For overseas students in the PGP batch of 2022-24, the total fee for the two-year program is as follows: 

• For SAARC countries: USD 24,000+ 
• For other countries: USD 30,000 

The fees will be paid in six terms over two years, and the payment will be made in Indian rupees as per the exchange rate at the time of payment. Additional expenses for living, accommodation, and personal expenses are not included in the fee and will depend on the individual's choices and preferences. Accommodation on campus is provided for single occupancy. 

11. Indian Institute of Management (IIM) Amritsar:

The fee structure for the MBA program through CAT at IIM Amritsar is as follows: 

The freights cover education, books & case material, library, IT & computer, hotel & electricity, medical & scholars’ conditioning. The mess and particular charges aren’t included in the below freights. The mess expenditure is estimated to be Rs. 10,000 per month and outstanding on a factual base. Financial assistance in the form of educational loans is available from banks. Students can apply to various major banks for education loans to cover program fees and other expenses. For more details regarding eligibility, interest rates, and other conditions, students can directly contact the respective banks. 

Also, IIM Amritsar offers a limited number of literacy to eligible MBA scholars grounded on their educational achievement and diversity. The awarded education quantum is expended in two equal proportions over the two times of the MBA program. The education donors are named grounded on their previous academic records, performance in the institute’s MBA admission process, and diversity factors. The durability of the education in the alternate time depends on the donors’ academic performance and conduct during the first time of the program.  

The decision to taking admitted to an MBA college via CAT score will largely depend on the fees for its different MBA courses. On the basis of the above information, students can make an informed decision on which institute to join.  

Before making the final decision, students should also keep in mind their expected returns after completing the MBA. A student should also consider the opportunity costs which will be borne over the two-year period. While IIMs offer a premium learning environment and superior job prospects, fee waivers and scholarship offers add to the appeal.  However, eligibility criteria for scholarships or fee waivers vary between the different IIMs, so students should supply complete information and documents while applying in order to increase their chances of being eligible. 

Frequently Asked Questions about Fees Structure for MBA in IIMs 

Q. What is the fee structure for MBA programs at IIMs through the CAT exam? 

Ans. The fee structure for MBA programs at IIMs varies depending on the institute. However, on average, the fees for a two-year MBA program range from 15 lakhs to 35 lakhs INR. 

Q. Are there any additional charges or expenses apart from the tuition fee? 

Ans. Yes, apart from the tuition fee, students may incur additional charges for hostel accommodation, mess charges, library fees, computer facility charges, and other miscellaneous expenses. These charges vary among different IIMs. 

Q. Do I have to pay the entire fee upfront or in installments? 

Ans. Generally, IIMs offer the option to pay the fees in installments. The number and frequency of installments may vary among the different IIMs. 

Q. Can I avail of any financial assistance or scholarships to cover the fees? 

Ans. Yes, most IIMs provide scholarships and financial assistance to deserving candidates. The eligibility criteria and amount of assistance offered may vary. It is advisable to check the specific details with the respective IIMs. 

Q. Are there any additional charges for study materials or books? 

Ans. The cost of study materials and books is usually not included in the tuition fee. Students are expected to bear these expenses separately. 

Q. Is the fee structure the same for Indian and international students? 

Ans. No, the fee structure for Indian and international students pursuing MBA programs at IIMs is different. International students generally pay a higher fee compared to Indian students 

Q. Are there any fee waivers for reserved category students? 

Ans. Many IIMs provide fee waivers or concessions for reserved category students, such as SC/ST/OBC candidates. The specific details and eligibility criteria for fee waivers can be obtained from the respective IIMs. 

Q. Can I get a loan to cover the MBA fees? 

Ans. Yes, many banks and financial institutions offer educational loans specifically for MBA programs. These loans can help cover the tuition fee as well as other related expenses. It is advisable to check with the respective banks for loan eligibility and terms. 

Q. What happens if I withdraw from the program? Will I get a refund? 

Ans. The refund policy for withdrawal from the program varies among IIMs. Generally, there is a deadline by which a partial refund may be available, but beyond that, the fees paid may not be refundable. It is recommended to review the specific refund policy of the IIM you are considering. 

Q. Can I pay the fees in installments during the program? 

Ans. Yes, IIMs generally allow students to pay the fees in installments over the course of the program. The number and frequency of installments may vary among institutes. 

Q. Are there any hostel fees for students opting for accommodation on campus? 

Ans. Yes, students opting for hostel accommodation on campus are required to pay separate hostel fees. The amount may vary depending on the institute and the type of accommodation chosen 

Q. Are there any extra charges for access to the library or other facilities? 

Ans. Yes, some IIMs charge additional fees for access to the library, computer facilities, sports facilities, and other amenities. These charges are usually included in the overall fee structure 

Q. Can the fee be paid online or through other modes of payment? 

Ans. Yes, most IIMs provide various modes of payment, including online payment, bank transfer, and demand draft. The specific payment options and instructions are usually communicated by the respective institutes 

Q. Can I get an installment extension if I face financial difficulties during the program? 

Ans. The extension of fee installment deadlines due to financial difficulties varies among IIMs. It is recommended to reach out to the institute’s administration or the concerned department to discuss your situation and explore possible options. 

Q. Are there any additional charges for industry visits, seminars, or guest lectures? 

Ans. Depending on the institute, there may be additional charges for industry visits, seminars, guest lectures, and other co-curricular activities. These charges are typically communicated to the students in advance and are not part of the regular tuition fee.