What is the Average Fees for Top MBA Colleges in India?
Let us call a spade a spade, Master of Business Administration, MBA is undoubtedly one of the most celebrated educational programs in India, and this is because of the two extremely prominent reasons. Firstly, because it is the most accessible program as a student from any academic background irrespective of the field they choose during their undergraduate studies. Secondly, because of the high demand for MBA graduates in the industry. Hence, it promises a secure and concrete future with the best employment prospects and descent earning capacity.
But as a rule of thumb, like every good thing, this too comes at a price. And, the price is a hefty amount of money you need to pay for education. The fee structure for top B-schools in India, such as— IIMs, XLRI, IIFT, are among the highest, starting at Rs. 15 lakh and above. This amount covers quality education, accomplished faculties, advanced infrastructure, and various other imperative facilities which one avails during the two significant years of their life.
There are more than 3000 B-schools in India that offer an MBA program. Therefore it is a bit challenging to choose the best ones among them. But there is a way out through the National Institutional Ranking Framework (NIRF). NIRF is a methodology adopted by the National Board of Accreditation (NBA) to rank the best institutions in India. This ranking gets done under the surveillance of the Department of Higher Education (DHE) and the Ministry of Human Resource Development (MHRD). NIRF ranks college based on five broad parameters viz. teaching and learning resources, research and professional practice, graduation outcome, outreach and inclusivity, and at last perception. There are seventeen other sub-parameters underneath these broad categories.
As the fee is one among the primary factors for selecting the right MBA college in India, this article will provide you a well-analyzed and critiqued list of the top MBA colleges (according to best management institutes in India by NIRF in 2019) and their fee-structure-
- IIM Bangalore
Fee for two years: Rs 21,00,000/-
The two-year PGP program costs a total of Twenty-one lakh, inclusive of GST and other charges. It is to be paid as Rs. 3.5 lakhs per term at the beginning of each term over two years. As per the official website, the program fee includes— expenses on tuition, library, hostel, internet, medical insurance, course material, service charge, etc.
- IIM Ahmedabad
Fee for two years: Rs 22,00,000/-
The two-year PGP program costs twenty-two lakhs, inclusive of GST and other expenses. The program fee of the institute is Rs. 17,00,000/- the rest gets included in the application fee, registration fee, hostel fee, mess fee, and various other miscellaneous charges.
- IIM Calcutta
Fee for two years: Rs 21,00,000/-
The institute charges twenty-one lakhs, for the two-year PDPM program. The fees include tuition fees, cost of study material, accommodation and cost of study tours organized by Indian Institute of Calcutta. Students have to handle the expenses of food, personal travel, electricity, cable, and other individual utilities during their stay on the campus.
- IIM Indore
Fee for two years: Rs 16,00,000/-
IIM Indore charges Sixteen Lakhs for the two-year PGP program in Management. The course includes— the charges for tuition, lodging, library, alumni fee, computer facilities, and the internet.
- IIT Kharagpur
Fee for two years: Rs 6,72,000/-
The institute charges six lakh seventy-two thousand; thus, Rs. 3.36 lakh per annum for its management program. The fee includes— charges for tuition, lodging, library, alumni fee. Other than that, the course material, travel, etc. have to be managed by the students.
- XLRI Jamshedpur
Fee for two years: Rs 23,90,00/-
Xavier Labour Relation Institute, Jamshedpur charges twenty-three lakh ninety thousand for the two year PGDM course. Thus Rs 1,15,000/- the yearly fee of the course includes all— the hostel facilities, mess, academic fees, and the textbooks which are provided to the students.
- IIT Delhi
Fee for two years: Rs 8,80,000/-
IIT Delhi offers a two-year full-time MBA program costing about eight lakh eighty thousand. The fee consists of the basic tuition, lodging, library, alumni fee. The other facilities— course materials, the internet, etc. must be arranged by the students themselves.
- IIT Bombay
Fee for two years: Rs. 8,70,000/-
Indian Institute of Technology, Bombay, offers management programs costing eight lakh seventy thousand, which consists of the prices for the basic facilities like tuition, lodging, library, alumni fee.
- MDI Gurgaon
Fee for two years: Rs 21,34,000/-
The institute charges twenty-one lakh and thirty-four thousand for the two-year PGPM program. The fee includes— tuition fees, library fees, computer fees, library deposit, hostel and mess expenses, etc.
- SPJIMR Mumbai
Fee for two years: Rs 17,87,500/-
SP Jain Institute of Management and Research charges seventeen lakh eighty-seven thousand and five hundred for the two year PGDM program. The fee includes— tuition, IT, Hostel, Development, Career Service, and International Immersion fee.
This is the list of the top estimated fee structure of the ten MBA colleges in India. The fee mentioned above is for the basic management programs offered by the institutes; it can vary based on different programs and streams.
For more information related to business management & top MBA colleges in India visit https://www.shiksha.com/mba/ranking/top-mba-colleges-in-india/2-2-0-0-0