IIM Mumbai sets MBA fees at Rs 21 lakh, just below IIM Ahmedabad, IIM Bangalore

NEW DELHI: The newly upgraded Indian Institute of Management (IIM) Mumbai will launch three MBA programmes with a fee of Rs 21 lakh in the upcoming academic year.

The decision was taken in the IIM Mumbai’s first ever board meeting held on Monday where it was decided that three courses including a general MBA, MBA in sustainability and management, MBA in operations and supply chain management will be offered with a fee of Rs 21 lakh.

The fee structure is only slightly lower than the premier IIMs in the country, for instance, IIM Ahmedabad’s postgraduate programme costs Rs 25 lakh while IIM Bangalore’s MBA program costs Rs 24.5 lakh and at IIM Calcutta it costs Rs 31 lakh. Other new generation IIMs have a relatively low fee. For instance, IIM Sirmaur, IIM Sambalpur and IIM Bodh Gaya charge between Rs 10 lakh and Rs 15 lakh for a two year MBA programme.

Apart from the fee structure, the board of governors of the institute met to approve the industry-aligned academic curriculum as well as establishment of infrastructure like new hostels. The board of governors have also plans to increase the intake capacity of the courses offered at the institute.

“For the three MBAs that we are offering [the fee is] Rs 21 lakh. It is the same for all the three courses. Other decisions were taken like the board approved the academic curriculum passed by our Academic Council which is inline with the industry standards and the newer thinking that are coming in the management domain. We have also approved infrastructure planning in a phase wise mode including new hostels, increasing intake capacity, introducing new courses in offline and online mode,” a senior official told Careers360.

IIM Mumbai: MBA admission

On August 8, the Parliament passed the Indian Institute of Management (Amendment) Bill 2023 to give IIM title to the National Institute of Industrial Engineering, or NITIE. Since then, the institute’s board of governors met for the first time to make critical decisions.

Earlier the institute had announced, admission to all MBA programmes will be done based on the Common Admission Test (CAT). The CAT 2023 exam is scheduled to be held on November 26 and the result will be declared in the second week of January 2024. According to the CAT 2023 convenor, IIM Lucknow’s Sanjeet Singh, 3.3 lakh students have registered for the exam this year.

For admission to MBA in supply chain management, candidates with a full-time BTech degree in any branch or a degree in MSc in mathematics, MSc in statistics will be considered for admission. Other MBA programmes are open to students from all disciplines and will fall under the same admission policy and fee structure.

To apply for MBA in IIM Mumbai, the application fee for general candidates is Rs 2000 and the reserved category students will have to pay Rs 1000.