The Indian Institute of Management (IIM), Lucknow, is all set to amend its fee structure for its two-year postgraduate course in management for the academic year 2017-19. The fee for the PG programme will be increased from INR 14 Lacs to INR 16 Lacs, which is an increment of about 15%.
Dr Ajit Prasad, Director of IIM-L, said that the proposal will be implemented, subject to the approval of the board of governors in a meeting scheduled to be held on March 20. Dr Prasad said that IIM-L needs to be at par with the top three IIMs at Bangalore, Ahmedabad and Kolkata. He also added that IIM-Kozhikode raised its fee to INR 16 Lacs and so should IIM-L.
This will be the second consecutive year that the fee will be incremented at IIM-L. Last year, the fee was raised by close to 30% for the 2016-18 batch. In the academic session 2013-15, the tuition fee for the PG programme was INR 10.80 Lacs.
However, Dr Prasad said that in 2013, the fee at IIM-L was slashed by 10%, and was reduced from INR 12 Lacs to INR 10.80 Lacs. This was revised in 2016 to INR 12 Lacs and is now proposed to be raised by another 15%.
When asked about the placements of graduating students, Dr Prasad said that placement is a student drive in IIM-L and the management doesn't interfere much unless the situation is major. He added that there is a major obsession among students about the pay packages. Students should first be concerned about the first job in the management sector. They should be inclined towards the new learnings rather than 20 Lacs or 25 Lacs per annum.
Dr Prasad also added good news for the new academic session, which will enjoy international immersion module. This module is designed to provide all 450 students, an opportunity to broaden learning and deepen their knowledge about the globalised economic environment.