Close on the heels of the 12 per cent fee hike announced by the IIM-A, IIM Bangalore revised its fee structure for its postgraduate programme from Rs 1.5 lakh to Rs 1.75 lakh.
BANGALORE: Close on the heels of the 12 per cent fee hike announced by the Indian Institute of Management-Ahmedabad, IIM Bangalore revised its fee structure for the two-year, postgraduate programme (PGP) from Rs 1.5 lakh to Rs 1.75 lakh.
All IIMs had decided on a proposed fee hike last year, but decided to stagger the announcement to this academic year. “The previous government asked IIMs to decrease their fees, but in 2005 the new ministry agreed to a fee hike across IIMs,” says an IIM official.
At subsequent board meetings held this year, the fee hikes were announced for 2006-07 batches. The IIM-B decision was finalised at the board meeting held on March 28.
“This hike will be reflective of the actual course fee that IIM-B spends per student,” says Amarnath Krishna, director of communications, IIM-B. On an average the recurring expenditure per student is Rs 3 lakh at IIMs. The proposed fee hike is aimed at bridging the disparity between the actual fee and the amount spent on each student. The 2006-08 batches will pay the new fees, whereas the second year PGP students will be exempt from it.
Both IIM-B and IIM-C are on par, charging an annual fee of Rs 1.75 lakh for the PGP course. Amarnath maintains that the steep salaries offered to the B-school students at this year’s placements did not influence the 16 per cent fee hike. Gaurav Agarwal, a gold medallist from IIM-B snagged a Barclay’s offer of Rs $193,000 (Rs 85 lakh), which was touted as the highest across all IIMs.
IIM-B will increase its student intake from the existing 240 odd to 270 this year. The scholarships and subsidies given by the institute will continue as before, says Amarnath. In 2004-05, the financial aid given to IIM-B students was Rs 64.83 lakh.
The fee hike will not affect the need-based and merit scholarships given at IIM-K, say officials. Last year 80 students availed of scholarships to the tune of Rs 90,000 of tuition fee or 25 per cent to 50 per cent cuts in the total fee.
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