IIMs are amongst the most premium educational institutes of the nation. Getting into IIM is a highly coveted achievement for MBA aspirants. Irrespective of the high fees, candidates are highly desirous to secure admission at IIM. There are a total of 21 IIMs across India and each IIM has its own fee structure. IIM fees generally range between Rs 26 lakhs to Rs 13.2 lakhs. Amongst the IIMs, IIM Amritsar has the lowest fee. The fee for pursuing an MBA from IIM Amritsar is Rs 13.2 lakhs. Followed by IIM Amritsar, IIM Bodh Gaya and IIM Sirmaur are also listed amongst the IIMs that have the lowest fees.
List of IIM with Low Fees
| Name of the IIM | IIM Fees |
| IIM Amritsar | INR 17,30,000 |
| IIM Sirmaur | INR 17,50,000 |
| IIM Bodhgaya | INR 17,96,000 |
IIM Amritsar – Set up by the Ministry of Education with the assistance of the Government of Punjab in 2015, IIM Amritsar is the 15th IIM established in India. It offers a total of 8 courses including an integrated MBA programme. IIM Amritsar is the IIM that has the lowest fees. The fee of IIM Amritsar is INR 17,30,000.
IIM Sirmaur – This centrally funded institution of national importance was established by the Government of India in the year 2105. Talking about the academic offering of IIM Sirmaur, 12 courses are offered at the various levels of study. The flagship programme of the institute – MBA is offered in specialisations such as Tourism Management and Tourism, Travel and Hospitality Management. IIM Sirmaur fees is Rs 14.45 Lakh.
IIM Bodhgaya – Established in 2015, IIM Bodhgaya is the 16th institute of the IIM fraternity. The institute offers a total of 8 academic programmes in various specialisation such as Marketing, Operations, Analytics, IT & Decision Sciences, Finance, Strategy, Public Policy and General
Management and Human Resources. IIM Bodhgaya fees is INR 14.96 Lakh.
Details of IIM with low fees
| Name of the IIM | IIM Amritsar | IIM Sirmaur | IIM Bodhgaya |
| Establishment Year | 2015 | 2015 | 2015 |
| Fees | INR 17,30,000 | INR 17,50,000 | INR 17,96,000 |
| Number of courses offered | 8 | 12 | 5 |
| Average Placement Package | INR 16.51 Lakh | Rs 14.45 Lakh | INR 14.96 Lakh |
IIM Amritsar Fees
| Component | 1st Year Fees | 2nd Year Fees |
| Tuition Fee | INR 6,25,000 | INR 6,25,000 |
| Academic Support | INR 1,85,000 | INR 1,85,000 |
| Hostel & Electricity | INR 40,000 | INR 40,000 |
| Student Activities & Health | INR 15,000 | INR 15,000 |
| Total (Year Wise) | INR 8,65,000 | INR 8,65,000 |
| Grand Total | INR 17,30,000 (for 2 Years) | |
IIM Sirmaur Fees
| Term | Admission Fee | Tuition fee | Hostel Charges | Alumni Membership Fee | Mediclaim | Total |
| Term -I | 60000 | 240000 | 40000 | 3000 | 2000 | 345000 |
| Term -II | 0 | 240000 | 40000 | 0 | 0 | 280000 |
| Term -III | 0 | 240000 | 40000 | 0 | 0 | 280000 |
| Total Fee (A) | 905000 | |||||
| YEAR – II | ||||||
| Term -IV | 0 | 240000 | 40000 | 3000 | 2000 | 285000 |
| Term -V | 0 | 240000 | 40000 | 0 | 0 | 280000 |
| Term -VI | 0 | 240000 | 40000 | 0 | 0 | 280000 |
| Total Fee (B) | 845000 | |||||
| Total (A+B) | INR 1750000 | |||||
IIM Bodh Gaya Fees
| Components | Term I | Term II | Term III | Term IV | Term V | Term VI |
| Tuition Fee | 160000 | 160000 | 160000 | 160000 | 160000 | 160000 |
| Hostel Rent | 41000 | 41000 | 41000 | 41000 | 41000 | 41000 |
| Academic Charges | 80000 | 80000 | 80000 | 80000 | 80000 | 80000 |
| Admission Fee | 15000 | – | – | – | – | – |
| Annual Registration Fee | 6000 | – | – | 6000 | – | – |
| Student Activity Fee | – | 5000 | 5000 | 5000 | 5000 | – |
| Career Development Fee | 8000 | 8000 | 8000 | 8000 | 8000 | 8000 |
| Alumni Activity Fee | – | – | – | – | – | 5000 |
| Convocation Fee | – | – | – | – | – | 10000 |
| Term-wise Total | 310000 | 294000 | 294000 | 300000 | 294000 | 304000 |
| Year-wise Total | 8,98,000 | 8,98,000 | ||||
| Course Total | INR 17,96,000 | |||||
Components of IIM Fees Structure
The fee structure of an IIM is a combination of several components that includes tuition fees, library fees, hostel fees, academic charges, etc. Listed below are the components of the IIM fee structure:
- Tuition Fee
- Annual Registration Fee
- Admission Fee
- Student Activity Fee
- Convocation Fee
- Alumni Activity Fee
- Miscellaneous
Why IIM fees is so high?
IIMs are not fully funded by the government and function autonomously leading to a high fees structure. There are various factors that contribute to the substantial cost of IIMs for providing world class education.
- State of the art infrastructure – Upgraded and modern infrastructure is a major attraction for the students and ensures a hassle free and efficient learning process at the institute. Therefore it becomes a mandate for educational institutes to invest heavily on infrastructural development. All the IIM campuses are highly flourished and this is another reason of why is IIM fee very high.
- High Quality of education at IIMs – Indian Institute of Management is amongst India’s most prestigious and elite institutions that is recognised globally. In order to strive for excellence and maintain the high educational standards a lot of cost is involved such as hiring the best faculty, providing modern and upgraded teaching equipment etc. All these costs contribute to the reasons for IIM fees being so high.
- Cost of Faculties – Experienced faculties are one of the reasons why IIM provides exceptional quality education that meets the global educational standards. In order to on board highly experienced and distinguished faculty members a highly competitive salary is spent.
- Recognition, Global Recognition and Accreditations – Amongst the 21 IIMs most of them have international accreditations and are globally recognised. As a result in order to meet the global educational benchmarks for these prestigious credibility the institutes have to bear operational and administrative costs.
- International Exchange Programmes – As a part of the course curriculum many IIMs offer international exchange programmes to their students in collaboration with B Schools across the world and this global exposure again adds on to the cost of education making the IIM fee so high.
- High overhead expenses – The IIMs have a high operational cost such as maintenance of the campus, administrative expenses, services to the students etc, that makes it costly.