A degree in Master of Business Administration (MBA) is one of the most sought-after degrees in the world. With an MBA degree, various career opportunities open up for an individual. In corporate organizations, the demand for MBA graduates is always high for proper and efficient functioning.
To meet the ever-increasing demand for MBA, several institutes have been established in India like the IIMs, FMS, etc. Apart from the government institutes, numerous private MBA institutes have also been established which include XLRI, SPJMER, etc.
It should be noted that every year almost 3.5 lakh MBA aspirants apply to different institutes in the country. MBA is a highly professional course and thus, the course fees are a bit on the higher side. The approximate 2 year-fees structure for some of the top MBA colleges in India are given below for reference.
MBA Fees of IIMs
|IIM Ahmedabad||24.5 lakhs|
|IIM Bangalore||13 lakhs|
|IIM Calcutta||19 lakhs|
|IIM Lucknow||14 lakhs|
|IIM Kozhikode||13 lakhs|
Note: The PGP course fees of the other IIMs are between 10 lakhs to 13 lakhs.
MBA Fees of Non-IIMs
|MDI Gurgaon||19.8 lakhs|
|NMIMS||15 to 17 lakhs|
|XLRI||18 to 20 lakhs|
|SPJIMR||13 to 15 lakhs|
Apart from the tuition fees, candidates also have to incur additional costs which include registration fees, hostel fees, etc. It is seen that most of the top MBA colleges have high tuition fees for their two-year programs. However, MBA applicants can get liberal educational loans as a financial aid. Apart from the loans, several scholarships are also provided by certain institutions.
As the loan options vary from bank to bank, MBA applicants are suggested to check for different loan options and choose the one that best suits them. Also, it is always beneficial to check for the different scholarship options by the particular institutes and apply for them accordingly.
MBA applicants are also suggested to check return on investment for the particular institutes and then apply. Analyze the total costs and average placements of the institutes to get an idea of the return on investment.
It is also important to note that most of the institutes use CAT scores for admissions. So, having a good CAT percentile is extremely important to get shortlisted for further rounds of the respective institutes.
Keep visiting BYJU’S to get more such information. CAT aspirants can also get various study materials, exam tips, sample papers and previous year question papers to ace CAT easily and get into their preferred B-School.