The Indian Institute of Management (IIM), Mumbai, formerly known as the National Institute of Industrial Engineering (NITIE) before attaining its IIM status in August of this year, has revealed its fee structure for its upcoming two-year courses, scheduled to commence in the academic year 2024-25. The institution has set its fee structure at Rs 21 lakh, which is slightly lower than the fees charged by IIMs in Ahmedabad (Rs 31.5 lakh), Calcutta (Rs 31 lakh), and Bangalore (Rs 24.5 lakh). Other new-generation IIMs offer a more affordable MBA option, with institutions like IIM Sirmaur, IIM Sambalpur, and IIM Bodh Gaya charging between Rs 10 lakh and Rs 15 lakh for their two-year MBA programmes.
The institute announced its fee structure in its inaugural board meeting on October 16, 2023, chaired by the Chairman of the Board of Governors, Shri Shashi Kiran Shetty. During the meeting, the institute's leadership, including Director Professor Manoj Kumar Tiwari, discussed comprehensive changes to its programmes, including PhD courses across various management areas and two-year Master's programmes in Business Administration (MBA), MBA in Operations and Supply Chain, and Sustainability Management. These changes include curriculum design, admission policies, and degree conferral.
The institution has also forged partnerships with the government, participating in programmes such as the Defense General Management Program (DGMP) and PM Gati Shakti, among other initiatives.
Courses' fees:
MBA: Rs 21 lakh
MBA in Operations and Supply Chain Management: Rs 21 lakh
MBA in Sustainability Management: Rs 21 lakh
Notably, earlier this year, the National Institute of Industrial Engineering (NITIE) in Mumbai was conferred the coveted IIM status following the approval of the Indian Institutes of Management (Amendment) Bill 2023.
MBA eligibility:
A bachelor's degree with at least 50% marks or equivalent CGPA.
45% for SC, ST, and PwD candidates.
Degree awarded by a university or educational institution recognised by the government.
Equivalent qualification recognised by the Ministry of Education, Government of India.
Final-year students can apply if they meet the criteria and complete their exams before joining.
Applicants must take the Common Admission Test (CAT) by IIMs.
Application fee: Rs 2,000 for general category candidates, Rs 1,000 for SC/ST/PwD.
MBA (Operations and Supply Chain Management) eligibility:
Full-time Engineering/Technology degree with 50% marks (45% for SC/ST/PwD).
Full-time degree in specific disciplines with 50% marks (45% for SC/ST/PwD).
Final-year students can apply if they meet the criteria and complete their exams before joining.
Applicants must take the Common Admission Test (CAT) by IIMs.
Application fee: Rs 2,000 for general category candidates, Rs 1,000 for SC/ST/PwD.
MBA (Sustainability Management) eligibility:
A bachelor's degree with at least 50% marks or equivalent CGPA.
45% for SC, ST, and PwD candidates.
Degree awarded by a recognized institution.
Equivalent qualification recognised by the Ministry of Education, Government of India.
Applicants must take the Common Admission Test (CAT) by IIMs.
Application fee: Rs 2,000 for general category candidates, Rs 1,000 for SC/ST/PwD.
