India’s cheapest and most expensive MBA programmes; check the fee and other expenses

Cheapest and expensive MBA
Saturday, June 17 2017, 10:05 AM
You can pursue the 2 year full time MBA programme from a highly ranked top B-school by spending as high as Rs. 20 lakhs or as low as only Rs.25000
Among the cheapest top B-schools, FMS Delhi is most economic and least expensive MBA college while among the most expensive MBA institutes, IIM Ahmedabad tops the list

You can pursue the 2 year full time MBA programme from a highly ranked top B-school by spending as high as Rs. 20 lakhs or as low as only Rs.25000. With growing opportunities for MBA graduates globally, the demand for doing MBA is also on the rise in India. However, the fee and other expenses in top MBA colleges like IIMs, XLRI, MDI, IIFT, NMIMS among others have also gone up. Now the candidates who are offered admission by IIM Ahmedabad, Bangalore or Calcutta have to rethink whether he/she should go for MBA or else pursue some other course. What you have to spend in 2 years at IIMs or other expensive B-schools, you may not spend even a fraction of it if you pursue any other Post Graduate or Masters programme.

Doing MBA from an IIM or other very good MBA college has become a dream for the aspirants who wish to make their career in business and corporate world. While the admission to IIMs, FMS, MDI, IMI is available only through Common Admission Test, the admission to MBA programmes in many other top B-schools is available through different national level MBA entrance tests also like CAT; XAT; CMAT; MAT IIFT; NMAT by GMAC or SNAP. But with varying fee structure, it becomes difficult which MBA college to choose from among many.

If we look at the fee structure of top 25 B-schools, following will be the order of the B-schools. Among the cheapest top B-schools, FMS Delhi is most economic and least expensive MBA college while among the most expensive MBA institutes, IIM Ahmedabad tops the list.

Highly ranked cheapest MBA Programmes
Among the top MBA colleges offering most affordable and highly credible programmes with 100% and high placements at par with top IIMs, Faculty of Management Studies (FMS) Delhi is the front runner with lowest fee.

FMS Delhi: Current fee Rs. 25000/- for 2 years
The fee for MBA programme is regulated by Delhi University. During the last many years MBA full time fee structure at FMS Delhi has remained around Rs.10000/- per annum. The total programme cost to the student including lodging and fooding does not exceed Rs.1 lakh for 2 years.

PUMBA, Pune: Current fee Rs. 2.42 lakhs
Pune University Department of Management Sciences (PUMBA) has different fee structure of Maharashtra State and All India candidates. While the fee for All India candidates for flagship 2 years MBA is Rs.2,42,500/-, for Maharashtra State candidates the fee is much lower and stands at only Rs.1,32,528/-.

JBIMS, Mumbai: Current fee Rs.3 lakhs per annum
Jamna Lal Bajaj Institute of Management Studies (JBIMS) Mumbai used to charge around 1.02 lakhs for the flagship MMS programme. From the year 2017-18 onwards, the revised fees will be Rs. 3 lakhs per annum  for General Students from the existing fee of Rs. 102,290/-.

Despite such a fee hike, the fee for the flagship MMS 2017-19 will not go much higher as compared to other top B-schools.

K J Somaiya, Mumbai: Current fee Rs. 9.68 lakhs
The 2 years PGDM fee at K J Somaiya Institute of Management & Research (SIMSR), Mumbai is Rs.9.68 lakhs for the 2017-19 batch.

IIM Indore: Current fee Rs.14 lakhs
IIM Indore has increased its 2 year fee for PGP 2017-19 to Rs.14 lakhs from Rs. 13 lakhs. Still among the highly ranked IIMs, its fee structure is the lowest as compared to other top older IIMs.

Most Expensive MBA programmes
Till a few years back Indian Institutes of Management (IIMs), XLRI did not have a very high fee structure and stood at par with other good B-schools as regards the expenses. But the way they have increased their fee by almost 40-50% in last few years, has made the MBA aspirants to think twice whether to opt for IIMs and XLRI or choose some cheaper but good MBA option.

IIM Ahmedabad: Current Fee-Rs.21 lakhs
Rise in fee structure at IIM Ahmedabad has been manifold. The fee has been increased for consecutive for second year for PGP in Management and PGP in Food & Agribusiness Management.

Year Fee (Rs. in lakhs) Percentage rise over last year
2015 18.5 -
2016 19.5 5.4
2017 21.00 7.7

IIM Bangalore: Current Fee-Rs. 19.50 lakhs
Close on the heels of IIM Ahmedabad, IIM Bangalore has also revised its fee by Rs. 80,000/-  for 2017-19 batch.

Year Fee (Rs. in lakhs) Percentage rise over last year
2016 18.70 --
2017 19.50 4.28

IIM Calcutta: Current Fee-Rs.19 lakhs
IIM Calcutta is close 3rd as one of the most expensive B-schools in India. Last year it increased its fee by 17% . Now the fee stands at Rs. 19 lakhs for 2017-19 batch.

MDI Gurgaon: Current Fee-Rs.18.86 lakhs
Management Development Institute (MDI) Gurgaon has emerged as one of the most expensive B-schools. The fee for 2017-19 has been increased by Rs. 1.71 lakhs.

Year Fee (Rs. in lakhs) Percentage rise over last year
2016 17.15 --
2017 18.86 9.97

SIBM, Pune: Current fee Rs.18.25 lakhs
Symbiosis Institute of Business Management (SIBM), Pune will charge Rs.18.25 lakhs for 2 years flagship MBA 2017-19. 

XLRI Jamshedpur: Fee Rs. 17.95 lakhs
XLRI Jamshedpur is likely to revise the fee for the PGDM programme from Rs.17.95 lakhs. If it happens the revision could go in the range of 7 to 10%.

IMT Ghaziabad: Current Fee Rs.16.50 lakhs
The Institute of Management Technology (IMT) Ghaziabad till last year maintained its fee structure at Rs.15 lakhs. The fee has now been increased by Rs.1.5 lakhs

Year Fee (Rs. in lakhs) Percentage rise over last year
2016 15 --
2017 16.50 10

IIM Lucknow: Current Fee-Rs. 16 lakhs
During past 5 years IIM Lucknow has increased and reduced its fee also. However, IIM luck now has increased the fee for the second consecutive year.

Year Fee (Rs. in lakhs) Percentage rise over last year
2012 12 --
2013 10.8 Reduced by 10%
2014 10.8 No change
2015 10.8 No change
2016 14 Up by 29.63%
2017 16 15% increase

IIM Kozhikode: Current Fee-Rs.16 lakhs
IIM Kozhikode has recently revised its fee to match the other IIMs and has increased it to Rs.16 lakhs.

IMI New Delhi: Current Fee-Rs.15.41 lakhs
International Management Institute (IMI) New Delhi has increased its fee structure by Rs. 45000 taking it to rs. 15.41 lakhs

IIFT Delhi: Current fee Rs.15.5 lakhs
Indian Institute of Foreign Trade (IIFT) with its 2 campuses at Delhi and Kolkata offers MBA (International Business). The fee during the last years has seen negligible increase for the flagship MBA programme.

XIM Bhubaneshwar: Current fee Rs.15.40 lakhs
One of the highly ranked MBA college of Xavier University Bhubaneswar, Xavier Institute of Management (XIM) will charge Rs.15.40 lakhs for its flagship 2 years MBA 2017-19.

Since many of the candidates have received admission offers from more than one management institutes, it will be good to check the fee structure and your resources before taking decision on MBA admission to the preferred B-school.

Stay tuned to MBAUniverse.com for more updates on MBA fee structure in India