For the batches of 2016-18, IIM A has announced an increase in fee by one lakh for its flagship course, Post Graduate Program in Management(PGPM), chargeable from 2016-18. The fee hike is the result of the increasing hike of costs due to inflation and the fees is 19.5 lakhs from 18.5 lakhs. The fees is inclusive of tuition fees, medical insurance, academic support, accommodation, basic health care and membership fee for the alumni association. The institute commented that the fees would be 10% lower in inflation-adjusted terms compared to 2009-11 fees. As the institute drive for efficiency, the cost increase is reflected here in a fee increase. From a report, the institute is also committed to continuing to offer scholarships among management schools in India. 29% of the total student strength are being offered financial aid for PGP and PGP-FABM students for the batch of 2016-17.
Following the steps of IIM-A, IIM Lucknow has decided to increase the fee by 30% for the batch of 2017-18. The discussion was held at the board of governors in a meeting held on 2nd April. The current fee of 10.80 lakh is being hiked to 14 lakh, applicable for both the two year MBA courses and Agri- Management. The fees of IIM L is still lower if other top MBA colleges like IIM-A is considered. The institute also added that no deserving candidate will be turned away for the lack of funds. If the banks don’t agree to raise the amount, the institute will raise it for the economically weaker students. The institute further added that after the decision of them doesn’t mean a reduction in either the quality of education or facilities or infrastructure in the institute. Two year MBA program in top institutes is a full-time residential course for graduates from all disciplines who wish to pursue a career in management. A candidate has to go through CAT Exam, Group Discussion or Written Ability Test and Personal Interview to get that desired MBA seat. Read the linked article for the full selection process of IIMs.