Before enrolling at an IIM, students need to know about the cost of studying in IIMs beforehand to take appropriate steps to arrange the college fees.
As education inflation has reached its peak, the cost of educational expenses is also on the higher side.
What are IIMs?
The Indian Institutes of Management, commonly referred to as IIM, is a public business school owned by the central government of India.
The IIMs offer several study courses like MBA Executive, doctoral, postgraduate, and undergraduate, as well as business administration-related additional courses.
The flagship program of IIM is the MBA or Master of Business Administration program, which is offered as a one-year global MBA program or a two-year Postgraduate Program in Management (PGP).
Average Cost of Studying in IIMs
There are several IIMs in India, the prominent three being IIM Ahmedabad, IIM Bangalore, and IIM Calcutta also referred to as IIM-A, IIM-B, and IIM-C, respectively. The MBA fee structure of all the IIMs varies between INR 16 Lakh and INR 27 Lakh.
The IIM MBA fees for the top three institutes are the highest and range between INR 24 Lakhs and INR 27 Lakhs, and for newly opened institutes, the fee varies between INR 16 Lakhs to INR 19 Lakhs.
There is a distinct difference between the fee structure of older and newly built IIMs because the new IIMs are financially backed by the government, unlike the older ones, which bear the maintenance and other expenses by themselves.
Components of MBA Fees: IIM Fee Structure
The IIM fee structure includes
- Tuition fees
- Traveling expenses
- Boarding fees
- Personal expenses
- Library fees
- Cost of Eating in the Mess
- Internet expenses
- Cost of books and course materials
- Computer/laptop cost
- Study tours
- Alum activity
- Miscellaneous expenses
Students can pay the total fees at one go or opt for a semester-wise payment schedule, whichever they find comfortable.
Cost of studying in Top 10 IIMs
| IIM Campus | Total Tuition Fees |
| IIM Ahmedabad | INR 24.61 lakh |
| IIM Bangalore | INR 24.50 lakh |
| IIM Calcutta | INR 25.00 lakh |
| IIM Lucknow | INR 20.70 lakh |
| IIM Kozhikode | INR 20.50 lakh |
| IIM Raipur | INR 16.10 lakh (excluding boarding fees) |
| IIM Udaipur | INR 19.00 lakh |
| IIM Rohtak | INR 17.60 lakh |
| Visakhapatnam | INR 17.58 lakh |
| IIM Trichy | INR 19.5 lakh |
An overview of the top 3 IIMs
1. IIM Ahmedabad
IIM Ahmedabad is the country’s most popular and most expensive IIM, offering Business & Management Studies.
The institute offers several facilities like a hostel, library, cafeteria, labs, gym, music room, wi-fi campus, auditorium, medical facilities, sports complex, and a/c classroom.
The total tuition fee structure for the different courses is.
| Course | Total Tuition Fees | Duration |
| MBA/PGDM (3 courses – 50 seats) | INR 12 lakh – INR 24.61 lakh | For 16 months – 2 years |
| Executive MBA/PGDM (1 course – 140 seats) | INR 31.5 Lakh | 1 year |
| MMS (1 course) | INR 20 lakh | 2 years |
| Certificate (2 courses – 60 seats) | INR 1.57 lakh | 4 – 6 months |
2. IIM Bangalore
Established in 1973 with NIRF ranking two and a 100-acre campus area, the IIM fee structure covers fees for personal accident insurance and medical insurance besides the regular fee structure offered by almost all the IIMs.
Statistics of Bangalore placement 2022 show that 137 companies visited the campus and made 662 offers. The median and average package offered was INR 31.20 lakh per annum and INR 33.82 lakh per annum, respectively.
| Course | Total Tuition Fees | Duration |
| MBA/PGDM (4 courses – 635 seats) | INR 12.5 – INR 24.5 lakh | 1 year – 2 years |
| Certificate (79 courses) | INR 65 k – INR 17.75 lakh | 2 days – 15 months |
| Executive MBA/PGDM (1 course – 75 seats) | INR 23 lakh | 1-year |
3. IIM Calcutta
IIM Calcutta ranked 3rd under the NIRF rankings and was the first to be established under IIM legacy. According to the available statistics for 2022, the placement percentage of the institute last year was 100%, as 190+ companies visited the campus, and 631 offers were made to the students.
| Course | Total Tuition Fees | Duration |
| MBA/PGDM (3 courses) | INR 23.2 lakh – INR 25 lakh | 2 years |
| Executive MBA/PGDM (2 courses) | INR 13.5 lakh to 31 lakh | 1 year |
| Certificate (35 courses) | INR 2.5 lakh – 12.89 lakh | 6 months – 1 year |
Balance the Books by Comparing the Cost of IIMs!
An elite collection of management schools in India known as the Indian Institutes of Management (IIMs) are renowned for their demanding academic curricula and superior management education.
In India, there are 20 IIMs, each with special qualities and advantages. Here are the IIMs available in India:
| IIM | Location | Annual Fee for PGP (Latest Available) |
| IIM Ahmedabad | Ahmedabad, Gujarat | Approximately INR 30 lakhs |
| IIM Bangalore | Bangalore, Karnataka | Approximately INR 24 lakhs |
| IIM Calcutta | Kolkata, West Bengal | Approximately INR 31 lakhs |
| IIM Lucknow | Lucknow, Uttar Pradesh | Approximately INR 19 lakhs |
| IIM Kozhikode | Kozhikode, Kerala | Approximately INR 19.5 lakhs |
| IIM Indore | Indore, Madhya Pradesh | Approximately INR 20 lakhs |
| IIM Shillong | Shillong, Meghalaya | Approximately INR 14.3 lakhs |
| IIM Rohtak | Rohtak, Haryana | Approximately INR 16.9 lakhs |
| IIM Ranchi | Ranchi, Jharkhand | Approximately INR 16.3 lakhs |
| IIM Trichy | Tiruchirappalli, Tamil Nadu | Approximately INR 19.5 lakhs |
| IIM Kashipur | Kashipur, Uttarakhand | Approximately INR 17.3 lakhs |
| IIM Udaipur | Udaipur, Rajasthan | Approximately INR 20.4 lakhs |
| IIM Raipur | Raipur, Chhattisgarh | Approximately INR 16.5 lakhs |
| IIM Nagpur | Nagpur, Maharashtra | Approximately INR 18 lakhs |
| IIM Visakhapatnam | Visakhapatnam, Andhra Pradesh | Approximately INR 18.2 lakhs |
| IIM Bodh Gaya | Bodh Gaya, Bihar | Approximately INR 15.5 lakhs |
| IIM Amritsar | Amritsar, Punjab | Approximately INR 17 lakhs |
| IIM Sirmaur | Sirmaur, Himachal Pradesh | Approximately INR 11.75 lakhs |
| IIM Sambalpur | Sambalpur, Odisha | Approximately INR 13 lakhs |
| IIM Jammu | Jammu, Jammu and Kashmir | Approximately INR 17 lakhs |
Let’s have a look at the Top 10 IIMs with their Annual Fee. Remember, IIMs often provide scholarships and financial assistance to eligible students based on various criteria, so prospective applicants are encouraged to check the most up-to-date fee structures and financial aid options on the respective IIMs’ official websites.
Fees for Indians and foreign Nationals at IIMs
1. IIM Ahmedabad
One of India’s top business schools is IIM Ahmedabad.
The PGP (Post Graduate Programme) and PGP-FABM (Post Graduate Programme in Food and Agribusiness Management) are only two of the postgraduate programs it provides.
The annual cost of the PGP program is around INR 30 lakhs for Indian citizens and USD 85,000 for foreign students.
2. IIM Bangalore
Another esteemed IIM, IIM Bangalore is renowned for its demanding academic programs.
The PGP, PGPEM (Post Graduate Programme in Enterprise Management), and PGPPM (Post Graduate Programme in Public Policy and Management) are all programs offered by the institute.
The annual cost of the PGP program is around INR 24 lakhs for Indian citizens and USD 85,000 for foreign students.
3. IIM Kolkata
One of the original IIMs, IIM Calcutta is well known for its management programmes. It provides a variety of management courses, including the PGDM (Post Graduate Diploma in Management).
For Indian citizens and overseas students, the average yearly cost of the PGDM program is roughly INR 31 lakhs and USD 92,500, respectively.
4. IIM Lucknow
The academic offerings and research initiatives of IIM Lucknow are renowned for their variety.
It offers courses including PGP, WMP (Working Managers Programme), and IPMX (International Programme in Management for Executives).
The yearly cost of the PGP program is around INR 19.25 lakhs (for Indian citizens) and USD 63,500 (for students from other countries).
5. Kozhikode IIM
The unique programs and instructional strategies used at IIM Kozhikode are well-known.
It provides the PGP, EPGP (Executive Post Graduate Programme), and PGP-BL (Post Graduate Programme in Business Leadership).
The yearly cost of the PGP program is around INR 19.50 lakhs (for Indian citizens) and USD 60,000 (for students from other countries).
6. IIM Raipur
One of the most recent IIMs, IIM Raipur, is rapidly rising to prominence. It offers the Executive Fellow Programme in Management (EFPM) and PGP. For Indian nationals, the PGP program’s annual cost is around INR 16.5 lakhs.
7. IIM Udaipur
The picturesque campus and management programs of IIM Udaipur are well-known. The PGP and PGPX (Post Graduate Programme for Executives) are available there. For Indian nationals, the PGP program’s annual cost is around INR 20.4 lakhs.
8. IIM Rohtak
The IIM Rohtak is renowned for its dedication to top-notch management education. It offers the Post Graduate Programme (PGP), Integrated Programme in Management (IPM), and Executive Post Graduate Programme (EPGPX).
For Indian nationals, the PGP program’s annual cost is around INR 16.90 lakhs.
9. IIM Visakhapatnam
IIM Visakhapatnam, one of the most recent IIMs, is expanding quickly. The PGP and FPM (Fellow Programme in Management) are available. For Indian nationals, the PGP program’s annual cost is around INR 18.20 lakhs.
10. Tiruchirappalli’s IIM Trichy
The management programs and emphasis on research at IIM Trichy are well-known. Both the PGP and FPM are offered.
For Indian nationals, the PGP program’s annual cost is around INR 19.50 lakhs.
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FAQs
Which is the cheapest IIM?
The cheapest IIM is IIM Sirmaur with its PGP course charging 11 lakhs per annum.
Why IIM fee is high?
IIM fees are high because their private bodies fund their institute primarily through tuition fees. They off highly popular because of their brilliant ROIs and advance programmes.
The institutes offer quality education for MBA courses that are extremely sought after. It is one of the hardest universities to get admission to due to the rigorous admission process and intense competition.
What are IIMs?
The Indian Institutes of Management, commonly referred to as IIM, is a public business school owned by the central government of India.
The IIMs offer several study courses like MBA Executive, doctoral, postgraduate, and undergraduate, as well as business administration-related additional courses
