Students aspiring to pursue a full-time management programme at the city-based B-schools should now be prepared to pay more as some of the B-schools are mulling a fee hike from the 2009-10 academic session.
Management education at some of the city-based institutes is set to become dearer at a time when the institutes are grappling with the prevailing economic downturn and finding it tough to secure placements for the students
KIIT School of Management has already announced its revised fee for students seeking admission to its Post Graduate Programme in Management (PGPM) and also the Post Graduate Programme in Rural Management (PGRM) for the ensuing academic session.
The institute has hiked fee for both these management programmes by Rs one lakh which would be applicable from the 2009-10 academic session. While the PGPM course would attract a fee of Rs 7.5 lakh, the students seeking admission to PGRM course would have to pay Rs 6.5 lakh, both being two year courses.
KIIT sources said that the fee hike was inevitable as the B-school had to revise the salaries of its faculty in the wake of hike in salaries of UGC scale faculty members.
Regional College of Management (RCM), another B-school in the city is also contemplating a hike in fee from the 2009-10 academic session.
Prabir Pal, director, RCM said, "We are mulling to raise the fee for our two-year MBA programme to Rs 2.80 lakh from Rs 1.8 lakh at present but we are yet to take a final call on the issue of fee hike. Even at Rs 2.8 lakh, our academic fee would be very resonable compared to some other management institutes in the city."
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Biju Patnaik Institute of Information Technology and Management Studies (BIITM) is also thinking of a marginal hike in fees for its management programme.
There is a possibility that we may raise the fee for our regular management programme from Rs 2 lakh at present to Rs 2.25-Rs 2.5 lakh from the 2009-10 session, said a top official of BIITM.
However, other management institutes in the city like Xavier Institute of Management, Bhubaneswar (XIMB), Institute of Information and Management Science (IMIS) and the Asian School of Business Management have ruled out any hike in fee for their management programmes for the forthcoming academic session.
Going for a fee hike in this time of economic recessin would deter students from pursuing management programmes and we have decided not to raise the fee, said Kishore Padhy, director, IMIS. IMIS currently charges Rs 4.6 lakh for a two-year MBA programme.
XIMB, considered as the one of the top ranking B-schools in India is currently charging about Rs 4 lakh for its course in Rural Management programme and Rs 5 lakh for its flagship PGP in management, both being two-year courses.
ASBM’s two-year MBA programme comes at Rs 3.6 lakh which includes the cost of books, corporate attire and caution deposit.