The Indian Institute of Management, Lucknow (IIM-L) is set to increase the fee for two-year post-graduate programme in management by 15% for the academic year 2017-2019.
In an exclusive interview with HT, IIM-L director Dr Ajit Prasad said as per the proposal, the fee for the PG programme was likely to be increased to Rs 16 lakh from the present Rs 14 lakh.
The proposal is subject to approval of the board of governors, which will meet on March 20.
“We want to be at par with the three league IIMs at Ahmedabad, Bengaluru and Kolkata. Recently, the IIM-Kozhikode raised the fee to Rs 16 lakh. We should also take the fee structure to that level,” he said.
This is for the second consecutive year that the IIM-L will increase its fee. Last year, the fee was raised by almost 30% for the 2017-18 batch. The tuition fee for the course was Rs 10.80 lakh in the academic year 2013-2015.
Dr Prasad, however, has a different take. “The IIM-L slashed its fee by 10% for the PGP in management in 2013. The fee was reduced from Rs 12 lakh to Rs 10.8 lakh. We revised the fee last year to its original position. This year we propose to raise it by 15%,” he said.
On placement of graduating students
At the IIM-L, placement is a student drive and we do not interfere unless there is a major crisis. There is an obsession among students about the packages. What they should be concerned with is that it is their first job in management. They should be more bothered about the learning and the branding that is associated with it. Whether it is Rs 20 lakh or Rs 25 lakh per annum, it hardly makes a difference.
On not disclosing students’ package
A few years ago, the parents of a student at the IIM-Bengaluru received kidnapping threat call when the news of Rs 1 crore package for their son was reported in the media. Since then we have stopped disclosing the salary or package of the students.
Good news for new batch
The new batch of 2017-19 will enjoy international immersion module, which is designed to give all 450 students an opportunity to broaden learning and deepen knowledge about an increasingly globalised economic environment. The IIM-L has international exchange facility, but not all the students get access to the exchange programme because of the additional charges entailed with it over and above the tuition fee. The IIM-L has now tried to work out a system that will allow all the 450 students to go for an international immersion, a six-week programme abroad.
On MBA degree
The new batch of 450 students may hope to get an MBA degree when they complete two-year post-graduate programme in 2019. Of course this is subject to the passing of the IIM Bill in the parliament. It is not too much departure from the existing norms and it gives a lot of autonomy and legal teeth to premiere B-schools in the country.