Earlier the top B-Schools, IIM Ahemdabad and IIM Bangalore have decided not to hike the fees for next academic year. But, some of the top B-Schools have either hiked the fees or are proposing an increase of 6-19% for the class of 2016 due to the inflation and rising operational costs.
Around 10 of the country’s top B-Schools have decided to against the decision of not hiking the fees for next academic year.
- Top management institutes like XLRI, International Management Institute (IMI), MDI-Gurgaon, SP Jain Institute of Management & Research, XIM-Bhubaneswar and IIM-Ranchi have already approved fee hikes. Several other institutes like IIM-Calcutta, IIM-Kozhikode, IIM-Udaipur and WeSchool will decide over the next two-three weeks.
- As per the reports, hikes will likely be in the range of Rs 50,000 to Rs 2.5 lakh, depending on the institutes. Some institutes such as IIM-Calcutta, for instance, have not implemented a fee hike for four years. It had last hiked fees by 50% to Rs 13.5 lakh in 2010.
- It was reported that IIM-C faculty council was in favor of raising the fees to Rs 16 lakh, up almost 19%. According to IIM-Udaipur Director Janat Shah, IIM-Udaipur currently charges Rs 8 lakh for the two-year programme and will also be hiking an increase of Rs 1 lakh in its March 31 board meeting. IIM-Ranchi also hiked fees by 16% from Rs 9 lakh to Rs 10.5 lakh due to higher expenditure, said the institute’s director BB Chakraborty.
- Older IIMs at Ahmedabad and Bangalore already charged Rs 16.6 lakh and Rs 17 lakh, respectively, for the two year post-graduate programme in management. After two consecutive hikes in 2012 and 2013, they have decided not to increase fees this year. Nor will IIM-Tiruchirapalli, IIM-Kashipur or even IIM-Lucknow, which opposed the trend last year by cutting fees by 10% to Rs 10.8 lakh.
- On the other hand, several leading non-IIMs too have gone in for fee hikes. For example, XLRI, which is guided by the fees fixation committee of Jharkhand, has been allowed to raise its fees by 7% from the current level of Rs 14.6 lakh to Rs 15.6 lakh. XIM-Bhubaneswar and MDI-Gurgaon have both effected fee hikes, the latter by 6.4% from Rs 14 lakh last year to Rs 14.9 lakh for the 2014-16 batches.
- According to WeSchool Group Director Uday Salunke, they charge low fees of about Rs 4.5 lakh for the two-year MMS course and have appealed to the government to increase the same by at least 7% for the forthcoming batch.
- IMI Director-General Pritam Singh also mentioned that the institute has increased tuition fees by 17.3% from Rs 11.5 lakh to Rs 13.5 lakh. At SP Jain Institute of Management & Research, total fees have gone up from Rs 11.5 lakh to Rs 14 lakh, including a newly introduced global immersion component.