IIM Fees for MBA 2024-25: Complete Fee Structure
IIM fees for MBA 2024-25 range from INR 14 to 27 lakhs. The institutes offer various financial assistance to students to help them afford a world-class management education. The fee is influenced by factors such as location, infrastructure, faculty expertise, and the overall reputation of the institute.
IIM Fees for MBA 2024-25 or their flagship PGP program vary for each of the 21 IIMs. While the highest IIM MBA fees can go as high as INR 27 lakhs in total, the lowest is around INR 14 lakhs. With the growth in demand for management graduates in India, IIMs have become quite popular, leading to a growing number of seats, new IIMs, and a significant rise in IIM fees.
The Indian Institutes of Management (IIMs) are regarded as some of the finest in management education not just in India but across the globe due to their strict curriculums, exceptional faculty, and unparalleled contacts within the industry. However, along with the promise of transformative education, IIMs also come with a financial commitment in the form of IIM Fees for the MBA course that demands careful consideration. Candidates must be aware of the IIM MBA fees if they wish to pursue the PGP program. This article delves into the IIM MBA fees 2024-25, shedding light on the investment required for one's professional and personal growth.
Also Read:
Total IIM Fees for MBA 2024-25
As mentioned earlier, it is important to note that the IIM MBA fees can vary between different IIMs. The IIM fees are influenced by factors such as location, infrastructure, faculty expertise, and the overall reputation of the institute. The total IIM fees for MBA for a two-year MBA course at IIMs could range from approximately INR 8 lakhs to INR 32 lakhs or more. The IIM fees for MBA as of 2024 are given below:
Name of IIM | Total Fees |
| INR 25.00 Lakh | |
| INR 24.50 Lakh | |
| INR 27.00 Lakh | |
| INR 20.70 Lakh | |
| INR 21.17 Lakh | |
| INR 20.50 Lakh | |
| INR 17.50 Lakh | |
| INR 18.00 Lakh | |
| INR 19.50 Lakh | |
| INR 14.96 Lakh | |
| INR 18.90 Lakh | |
| INR 17.20 Lakh | |
| INR 17.90 Lakh | |
| INR 17.30 Lakh | |
| INR 21.00 Lakh | |
| INR 17.96 Lakh | |
| INR 21.01 Lakh | |
| INR 17.50 Lakh | |
| INR 18.85 Lakh | |
| INR 17.82 Lakh | |
INR 21 Lakh |
Also Read: Part-Time Courses at IIMs for Working Professionals
IIM Fees for Executive MBA 2024-25
IIMs also offer Executive MBA courses for working professionals to help them gain more expertise in their area and accelerate their careers. Check out the fees structure for Executive MBA programmes offered by IIMs.
IIM Executive MBA Course | Total Fees |
|---|---|
IIM Bangalore - EPGP | INR 33.96 Lakh |
IIM Ahmedabad - PGPX | INR 33.00 Lakh |
IIM Calcutta - MBAEx | INR 31.00 Lakh |
IIM Lucknow - IPMX | INR 26.00 Lakh |
IIM Shillong - PGPEx | INR 22.71 Lakh |
IIM Indore- EPGP | INR 22.11 Lakh |
IIM Trichy - PGPM | INR 14.50 Lakh |
IIM Udaipur - EMBA | INR 14.20 Lakh |
IIM Ranchi- Executive MBA | INR 12.50 Lakh |
IIM Kozhikode-Executive MBA | INR 12.00 Lakh |
IIM Sambalpur- Exe-MBA | INR 12.00 Lakh |
IIM Amritsar - EMBA | INR 12.00 Lakh |
IIM Kashipur – Executive MBA | INR 12.00 Lakh |
IIM Visakhapatnam- EMBA | INR 10.80 Lakh |
IIM Jammu- EMBA | INR 9.92 Lakh |
IIM Nagpur-Executive MBA | INR 9.50 Lakh |
IIM Rohtak - PGPx | INR 7.43 Lakh |
Understanding IIM Fee Components for MBA
The IIM MBA fees have several components that cover different aspects of the educational experience. Take a look at the different aspects of IIM Fees for MBA:
Tuition Fees
Hostel and Accommodation Fees
Mess Charges
Student Welfare and Support
Computer and Internet Charges
Alumni Association Membership
This part of the IIM MBA fees supports the lifelong benefits of being a part of the IIM alumni network.
IIM Financial Aid and Scholarships
Financial aid and MBA scholarships at IIMs can vary based on the specific IIM you are considering, the MBA program you are applying to, your individual qualifications, and finally, the actual IIM Fees for MBA. When it comes to financial aid and scholarships, each of the IIMs may have its own policy and offer. For further consideration, here are some general points:
Need-based Scholarships: Certain IIMs also provide need-based scholarships for students who demonstrate financial need. These scholarships are designed to make the MBA program accessible to deserving candidates regardless of their financial background.
Reserved Category Scholarships: Many IIMs have scholarships specifically for candidates from reserved categories (SC, ST, OBC, etc.) to promote diversity and inclusivity in the student body.
Merit-based Scholarships: Some IIMs offer merit-based scholarships to top-performing students based on their academic achievements, work experience, and performance during the MBA program. These scholarships can cover a portion of the IIM MBA fees.
Corporate Scholarships: Some IIMs have partnerships with corporations, which might provide scholarships to students in exchange for internship commitments or future employment with the company.
Alumni Scholarships: IIM alumni sometimes contribute to scholarship funds to support current students. These scholarships might be awarded based on various criteria, including academic performance, leadership, and extracurricular involvement.
Loan Assistance: While not a scholarship, many IIMs have tie-ups with banks to offer preferential education loan terms to their students. These loans can cover the IIM fees for MBA as well as other expenses related to the MBA program.
Fellowship Programs: Some IIMs offer fellowship programs for students interested in pursuing academic or research careers. These programs often come with financial support and might involve teaching or research responsibilities alongside the MBA program.
Global/Exchange Scholarships: If the IIM has partnerships with international universities for exchange programs, they might offer scholarships to students selected for these opportunities.
Also Read: Non-IIM MBA Colleges to Apply to Before and After CAT
IIM Fees for MBA 2024: ROI for Top IIMs
The Return on Investment (ROI) in the context of pursuing an MBA from the IIMs refers to the value you gain from the program in comparison to the financial investment you make in terms of the IIM MBA fees and other associated costs. ROI is an important consideration for individuals considering an MBA, as it helps them evaluate the potential benefits of the degree in relation to the costs incurred in terms of the IIM fees for MBA. Here is the list of some IIMs with ROI of their total IIM fees:
College Name | Total Tuition Fee | Annual Average Package |
|---|---|---|
IIM Ahmedabad | INR 25 Lakh | INR 32 LPA |
IIM Raipur | INR 18 Lakh | INR 20 LPA |
IIM Visakhapatnam | INR 17.82 Lakh | INR 15 LPA |
IIM Amritsar | INR 21 Lakh | INR 16 LPA |
IIM Udaipur | INR 14.96 Lakh | INR 17 LPA |
IIM Bodhgaya | INR 17.96 Lakh | INR 12 LPA |
IIM Sambalpur | INR 21.01 Lakh | INR 12 LPA |
Also Read: Reservation Policy at IIMs
Student Loans and Repayment for IIM MBA Fees 2024
IIMs are prestigious business schools in India that offer Master of Business Administration (MBA) programs. The IIM fees for MBA programs can be substantial, and many students opt for student loans to finance their education. Here's some information about student loans and repayment for IIM MBA fees:
Student Loans for IIM MBA Fees
Banks and Financial Institutions: Various banks and financial institutions in India offer education loans specifically designed for MBA programs, including those offered by IIMs. Some prominent lenders include State Bank of India (SBI), HDFC Bank, ICICI Bank, Axis Bank, and others.
Loan Amount: The loan amount typically covers tuition fees, hostel charges, examination fees, and other related expenses. The maximum loan amount varies from bank to bank but is often subject to a certain limit.
Eligibility Criteria: Eligibility criteria for obtaining a student loan for an IIM MBA program might include securing admission to a recognized IIM, meeting certain academic qualifications, and the creditworthiness of the student or co-applicant.
Collateral and Guarantor: Depending on the loan amount, banks may require collateral as security. In some cases, a co-applicant (usually a parent or guardian) might also be required.
Interest Rates: Interest rates on education loans can be variable and are influenced by factors such as the loan amount, lender policies, and market conditions. Interest rates can vary from one bank to another.
Repayment: Repayment typically begins after the completion of the course or a grace period, which could be around 6 to 12 months after securing a job. Some banks offer a moratorium period during the course duration. The loan can be repaid in equated monthly installments (EMIs) over a certain period.
Loan Repayment Strategies
Plan Early: Start planning your loan repayment strategy before you even take the loan for the IIM fees. Understand the terms and conditions of the loan, including interest rates and repayment schedule.
Budgeting: Create a post-MBA budget that takes into account your expected income and monthly expenses. This will help you determine how much you can comfortably allocate for loan repayment.
Extra Payments: If possible, consider making extra payments towards the loan to reduce the principal amount and overall interest burden.
Loan Consolidation: If you have multiple loans, you might consider loan consolidation to simplify repayment and potentially reduce your monthly payment amount.
Loan Forgiveness Programs: In some cases, there might be government programs or initiatives that offer loan forgiveness or repayment assistance based on certain criteria. Research if such programs are available.
Refinancing: After a few years of repayment and building a good credit history, you might explore options to refinance your loan at a lower interest rate, potentially reducing your monthly payments.
Related Links:
If you have any queries regarding MBA admission 2024, you can post your questions in the CollegeDekho QnA section. For admission-related assistance, fill out our Common Application Form.
Get Help From Our Expert Counsellors
FAQs
Are educational loans available for paying IIM fees?
Yes, educational loans are quite common when it comes to IIM fees for MBA. A sizeable chunk of aspirants avails educational loans when planning on pursuing an MBA from IIMs. A number of nationalised banks give students applying for admission to IIM loans for higher education up to 10 lakh Indian rupees. If a student wants to use the service, the IIMs will facilitate the necessary educational load procedures. Also available to students are the IIMs' scholarship schemes.
Are the IIMs government-aided institutes?
Yes, the newer Indian Institutes of Management (New IIMs) receive financial support from the Government of India, but they are not involved in making choices regarding how the institutions are run or how they carry out their daily operations. The institutes freely decide on admission, programs, curriculum, management, the IIM fees for MBA and other issues. That being said, the older IIMs do not receive financial assistance from the Government of India, which is the reason behind their exorbitant IIM MBA fees.
Is the IIM MBA fees decided by the Government of India?
No, the IIM MBA fees is not decided by the Government of India for any of the Indian Institutes of Management. The government places no input into determining the IIM fees for MBA or the costs of any programs offered by the IIMs or into any financial decisions pertaining to the institutions. The IIM management team makes all of its own financial and administrative decisions. The only role of the Indian government is to provide financial assistance to the newer IIMs for their various expenditures, maintenance, and administration costs.
Which MBA courses at IIMs have higher ROI?
The ROI for some of the MBA courses provided at the IIMs is higher than others considering the IIM fees for MBA and other factors. This is because the placement opportunities for some MBA courses differ from others. For instance, certificate courses provided by the IIMs do not have a placement season, so they have relatively the lowest ROI. On the other hand, the flagship MBA programs offered by the IIMs have a very well organized placements run, which includes some of the top MNCs and organizations offering students lucrative placement opportunities and salary packages, which makes these courses the best option in terms of Return on Investment.
Is the CAT exam fee part of the IIM fees?
No, the CAT exam fees is not part of the IIM fees for MBA. The CAT exam is conducted by the IIMs for admission to their MBA/PGDM programs. However, merely appearing for the CAT exam does not guarantee admission to the MBA courses at IIMs. Candidates have to qualify for the CAT exam and its subsequent selection process to gain admission to IIMs.
Is it expensive to pursue MBA from IIMs?
Yes, apart from being one of the most prestigious chains of management institutes in India, the IIMs are also one of the costliest B-schools in the country. Candidates who wish to pursue an MBA/PGDM course from the IIMs have to make a huge financial commitment. That being said, the IIMs do have an excellent Return on Investment due to their 100% placement records and lucrative placement season opportunities.
Which IIM has the lowest fees for MBA?
The IIM fees is relatively lower in most of the newer IIMs that have been established in recent years. However, the MBA fee at IIM Bodhgaya is the lowest. It currently costs 15.50 lakh Indian rupees. The MBA fees at IIM Bodhgaya can be paid in installments, and financial aid options include loans and scholarships. Candidates who wish to pursue an MBA/PGDM course from IIM Bodhgaya must appear for the CAT exam and qualify for the same.
Is the IIM fees same for all MBA courses?
No, the IIM MBA fees is different for different types of MBA courses. Although the IIMs are well-known for their flagship postgraduate programs in management, other types of MBA courses are also available at the IIMs for aspirants. Certificate courses, Executive MBA courses, and Integrated Courses in Management are some of the most popular management courses offered by the IIMs. The IIM fees vary depending on the type of course an aspirant wishes to pursue.
Are scholarships available for IIM MBA aspirants?
Yes, each IIM offers a variety of scholarship schemes for candidates seeking an MBA. About 13 scholarship schemes are available to students at IIM Ahmedabad. On the basis of merit and financial situation, scholarships are awarded to candidates. Candidates from underprivileged backgrounds must fill out the scholarship application and present the necessary documentation of their family's income in order to be considered.
Is the IIM MBA fees different for all the institutes?
Yes, the IIM MBA fees is different for all the IIMs across the country. Since the IIMs have different sources of income, funding, and other aids, the fees structure of all the IIMs vary from one another. For instance, the old IIMs do not get funds from the government for maintenance and other expenditures, while the new IIMs are financially supported by the government. This is the reason why the IIM fees for MBA is higher at the old IIMs as compared to the new IIMs.