Top management institute IIM to hike fees by 5 to 17% for 2018-2020 session

IIM is one of the prestigious institute in India and the admission in the institute doesn’t come cheap, for an MBA a student have to shell out lakhs and now the students who are going to seek admission in latest batch will have to shell out more money, according to News X. The fees is going to increase by 5 to 17% for 2018-2020 session. The institute which will undergo fees change are Bangalore, Calcutta, Ahmedabad and Indore while the newly established institutes at Rohtak, Ranchi, Trichy, Udaipur, and Amritsar will also see a significant increase in fees.

According to reports, fees are increased due to higher operational cost to run the institute. Further the reports says that faculties salaries and infrastructure have made the management to increase the fees. This means that student will have to pay Rs 80,000-2,00,000 more to pursue MBAs in the top management institutes.

“Increasing fees is now becoming a compulsion for older and mid-level IIMs such as us. After the first 10 years, IIMs are required to generate their own revenue and sustain themselves through their own corpus. Faculty salaries go up, cost of messes goes up, cost of hospitality, security, infrastructure, security goes up, thus necessitating a hike,” IIM Rohtak director Dheeraj Sharma said to News X on the fee hike.