IIM Mumbai Fees for MBA 2024-2025 is Set at INR 21 Lakh, Check the Details Here
For the academic year 2024-2025, IIM Mumbai will offer two-year MBA programs with a reduced tuition fee of Rs 21 lakh. This fee structure positions IIM Mumbai as a more cost-effective option compared to other prominent IIMs across the nation
Anil Solonki21 Oct, 2023
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IIM Mumbai Fee: IIM Mumbai has released the official statement confirming the fee structure for the 2-year MBA program. According to the latest announcement, IIM Mumbai will charge Rs. 21 lakhs for its MBA programs. This fee makes IIM Mumbai extremely cost-effective compared to other IIMs, including IIM Calcutta (Rs 31 lakh), IIM Ahmedabad (Rs 31.5 lakh), and IIM Bangalore (Rs 24.5 lakh).
The announcement regarding the fee structure was made during the institute's inaugural board meeting held on 16 October 2023. During the meeting, the institute's leadership, including Director Professor Manoj Kumar Tiwari, discussed extensive program modifications, which included PhD courses in various management areas and two-year MBA programs. On the other hand, newer IIMs like IIM Sirmaur , IIM Sambalpur , and IIM Bodh Gaya offer more budget-friendly MBA options, with tuition fees ranging from Rs 10 lakh to Rs 15 lakh for their two-year MBA programs.IIM Mumbai Fee Overview
IIM Mumbai, previously known as NITIE, introduced a budget-friendly fee structure for different MBA programs. The institute has also partnered with the government to offer an effective Defense General Management Program, PM Gati Shakti, and more. The table below shows the IIM Mumbai fee structure for various MBA programs:| IIM Mumbai Program | Fee Structure |
| MBA | INR 21 Lakh |
| MBA in Sustainable Management | INR 21 Lakh |
| MBA in Operations and Supply Chain | INR 21 Lakh |
IIM Mumbai Fee Compared to Other IIMs
The fee structure announcement by IIM Mumbai holds significant importance for admission 2024 admissions. In contrast to certain other IIMs, such as Ahmedabad, Calcutta, and Bangalore, IIM Mumbai's fee structure, at Rs 21 lakh, is economically affordable for students pursuing a high-quality MBA education. The top-ranked IIMs have a higher fee requirement for MBA programs. However, a few newer IIMs, like IIM Sambalpur, IIM Sirmaur, and IIM Bodh Gaya, offer MBA education at a more affordable fee than IIM Mumbai. In order to enter any of the IIMs, all the candidates need to qualify for the CAT exam. Additionally, they must meet the cut-off requirement of individual IIMs to apply for their selection process.Also Read: CAT Exam 2023: IIM Mumbai Gives 55% Weightage to CAT Test for MBA Admissions
Why IIM Mumbai Fee Structure Affordable?
IIM Mumbai aims to offer budget-friendly MBA programs to management aspirants. The institute is consistent with its mission to expand the reach of high-quality education and serve a broader group of students. Going with this strategy, IIM Mumbai authorities have not only lowered the cost of MBA education but have also focused on maintaining a high standard of academic excellence.Top IIMs Fee Structure Details
Leading IIMs like IIM Ahmedabad provide their MBA courses at a cost of INR 31.5 Lakh, whereas the MBA program fee for IIM Bangalore stands at INR 24.7 Lakh, and IIM Calcutta sets the fee for its MBA program at INR 31 Lakh. The table below provides a comprehensive overview of the MBA fee structures at renowned IIMs:| Top IIMs | MBA Fee Structure (2023-2025) |
| IIM Ahmedabad | 31.5 Lakh |
| IIM Kozikode | 20.5 Lakh |
| IIM Calcutta | 31 Lakh |
| IIM Bangalore | 24.7 Lakh |
| IIM Lucknow | 19.25 Lakh |
Also Read: IIM Fee Structure for MBA Courses, Check Fee of All IIMs
IIM Mumbai Eligibility Criteria for MBA
For admission to IIM Mumbai, candidates must qualify for the CAT exam 2023 by scoring the minimum cut off score requirement. Additionally, they should meet the following eligibility criteria:- Bachelor's degree from a recognised college or university with a minimum 50% CGPA (45% for SC/ST/PWD candidates)
- Candidates shortlisted in the CAT exam 2023 must participate in the IIM Mumbai PI round.
- Shortlisted candidates in the final merit list should produce their bachelor's degree marks card to secure admission to MBA courses.
IIM Mumbai Fee FAQs
What is the MBA fee at IIM Mumbai?
The MBA fee structure at IIM Mumbai is Rs. 21 lakh.
Why is IIM Mumbai relatively lower than other IIMs?
IIM Mumbai aims to provide high-quality management education to a wide group of students. Therefore, it has set MBA fees lower than other top-ranked IIMs.
When did IIM Mumbai announce its fee structure for the 2024-25 admission year?
IIM Mumbai announced its MBA fee structure on 16 October 2023.
Which IIM charges the highest fee for the MBA program?
IIM Ahmedabad charges the highest fee for MBA programs among other IIMs.
Which MBA courses at IIM Mumbai are available at a 21 lakh fee?
IIM Mumbai offers an MBA in Sustainable Management and Operations and Supply Chain at Rs 21 lakh.
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