When a person decides to pursue higher education with an executive MBA program, one of the key areas he or she has to focus on is the financial aspect of the course. Though, executive MBA course offered by top colleges are not economical by any standards, the returns a student may receive after the completion is far more than the amount invested in pursuing it. Indeed, it requires a lot of planning and involves a certain amount of sacrifice, if an MBA aspirant decides to invest his or her own money.
Based on the popular assumption that executive MBA programs are designed for working individuals, some companies may decide to invest in the individual with an understanding that he or she would continue working for that organization for a stipulated amount of time.
Let us now walk through the executive MBA fee structure of the top Executive MBA colleges in India. Also, the details mentioned below will aid a student in making an informed decision.
1. Indian Institute of Management Ahmedabad (IIMA)
The fee required to enrol at this executive MBA college is INR 24, 50,000 (rupees twenty-four lakh and fifty thousand) plus applicable taxes for a one-year program. The fee entitles you to use the facilities available on campus which include library and computer rooms. Also, it includes tutoring, course material, and on-campus boarding and lodging charges. The fee for an executive MBA program also entitles an individual to avail counselling services.
2. Indian Institute of Management Calcutta (IIMC)
It is another premier institution, which provides an executive MBA program. The fee for an executive MBA is INR 22, 00,000 (rupees twenty-two lakh) plus applicable service tax.
The payment may be made in four instalments. This sum is non-refundable in nature. A further amount of INR 20,000 should be made as security deposit which is refundable. Students opting for family accommodation need to make an extra payment of INR 48,000.
The executive MBA fee structure includes tuition charges, cost of the course material and accommodation. It is also inclusive of costs incurred for study tours organized by IIMC. Airfare, visa and medical insurance charges for overseas study tours will be borne by the institution. However, students need to pay separately for food, personal travel, electricity and others personal expenses their tenure at the campus.
3. Xavier School of Management (XLRI)
The executive MBA fee at this institute largely depends on the type of course a student opts for. The fee for a one-year or 15-month program is INR 15,00,000 (rupees fifteen lakh). This amount includes the cost of study, course material, and use of facilities like computer rooms or library. Expenses which are personal in nature, like electricity and food, will be charged extra depending on the type of accommodation a student opts for.
4. Indian Institute of Management Bangalore (IIMB)
Holding its place among the top five institutions that offer an executive MBA program, the fee for a one-year course is INR 27,96,675 (rupees twenty seven lakh ninety six thousand six hundred and seventy five). If a student opts for family accommodation then the fee is INR 29, 52,500. Also, the service tax as applicable would be added to the fixed amount. The fee mentioned above is inclusive of refundable security deposit of INR 20,000.
The fee entitles a student to use college’s library and electronic equipment like computers for research purposes. The fee does not include expenses incurred for domestic and overseas travel. Any expense of personal nature such as recreation and off-campus activities does not feature in the executive MBA fee charged.
Accommodation is provided in the form of one room in a 3-bedroom apartment. The residential complex is located about 3 kilometres from the institute. For students opting for family accommodation, a two-bedroom apartment is provided.
5. International School of Business Hyderabad (ISB)
Here, the executive MBA fee for a one-year course is INR 35,00,000 (rupees thirty five lakh) plus applicable service tax. The students are given an option to make the payment in four instalments. The fee includes cost of accommodation, food on working days, course material and use of research facilities. Further, domestic and overseas travel expenses are not included in the fee.
6. Indian Institute of Management Kozhikode (IIMK)
IIMK boasts of being completely on a digital platform, and offers students a state-of-the-art digital experience. The fee for a two-year executive MBA program at IIMK is INR 8,00,000 (rupees eight lakh). This amount is payable in seven instalments. Service tax is applicable as per the government regulations.
Accommodation fee at IIMK is INR 36,000 per term. Single and double occupancy rooms are available in the hostels and services like a LAN connection and washing machine are inclusive of room charges. Air conditioned rooms are also available and charged accordingly. Further, expenses which are personal in nature are not borne by the institution. Two of the campus canteens provide food 24/7. The food expenses have to be borne by the student.
As mentioned earlier, while pursuing an executive MBA course at these institutions finance plays a major part of the decision-making process. And yes, the executive MBA fees are definitely on the higher side, but a degree from any of these premier institutions is life changing.