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In earlier times, unlike professional courses like Law or Medical courses, an MBA did not have much recognition among the masses nor was it considered much prestigious degree like the other two mentioned above.
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It is about the 19th century, when industrialization took place and society witnessed a rise in the demand for leaders who could manage big organisations since such leaders were capable of understanding the relationship between expertise and the world force of a company. MBAs and MBA degrees became prominent in the management field in the middle of the 20th century. When the demand for MBA courses and specialisations increased, the cost of doing an MBA also increased.
Along with the passage of time, MBA has built a solid reputation among the masses globally. The fact that this degree promises high employability and salary to fresh MBA postgraduates makes an MBA even a better opportunity as a career for students. But everything comes with a cost, so is a top MBA course. Once a student decides to pursue an MBA, along with appearing in top MBA entrance exams, he is expected to know about the hefty amount of fee he has to pay to the institution where he is pursuing his MBA degree.
Despite being an expensive one, this course has gained so much popularity in the last decade as it opens a gateway of numerous opportunities for MBA grads once they complete their degree. That's why MBA is so costly in India. MBA is a 2-year postgraduate programme that can be pursued in various disciplines like- MBA in Finance, HR, Marketing, and IT in India. The program is offered by the top and most prestigious B-Schools across the country and IIMs (Indian Institute of Management), Symbiosis Institute of Management Studies, Symbiosis International, Faculty of Management Studies, etc are some of those Institutes. The fee structure of each Management school differs from that of each other. The fee for an MBA degree in India ranges between 6 lakh to 22 lakh.
Here are the factors that play a significant role in making MBA an expensive course, By going through the below factors, candidates can easily understand why MBA is so expensive?
Expertise of Faculties
It is the responsibility of B-Schools to provide their students with expert faculties who have excellent academic credentials. The knowledge of such experts comes at a cost and taking insights from such professors and mentors is one of the main benefits of pursuing an MBA. Hence, it’s quite reasonable for B-schools to invest in such faculty.
MBA is not just a qualification
While pursuing an MBA, one doesn’t only pay for their studies but also for the experience that they would miss out on otherwise. Studying MBA could cost more than just a tuition fee especially when one decides to move abroad and study at prestigious Management schools in America or Europe. It is needless to say moving out of your home country to another country for the purposes of study becomes substantially expensive.
Resources
B-Schools do not provide for faculties and tutorial classes only, rather, these institutes always endeavor to offer their students more and more facilities such as school resources which include- hostel, library, mess, etc. Along with these resources, management institutes are also encouraging e-learning and digital learning models in order to make it easier for MBA students to learn through online programs. Such learning resources come at a cost.
Student Trips
Apart from studies, MBA students at B-Schools add value to their experience by participating in various kinds of abroad trips to conduct big projects, workshops, programs, career fairs, etc. Such programs also incorporate a huge cost of learning.
Before enrolling in an MBA programme, one must thoroughly go through ways that might make their journey in B-school affordable. They can go for the options like:
Scholarships
MBA is an expensive course, hence, to help bear the expenses, there exists an MBA Scholarship. One must research the MBA Scholarship opportunities available to them as it will open the doors for them to pursue a popular yet expensive course and help them to cover a part of their education expenses.
Also, there are available scholarships for students belonging to a particular group or community, which they can avail by fulfilling the basic eligibility criteria for such scholarships.
Student loan
In case, where one fails to find any MBA scholarships or if no scholarships are available to them, they can also go for student loans with lower interest rates also.
MBA is an expensive course, but at the same time it promises career growth, personal development, and high salary along with great learning experiences.
The MBA course fee offered by the various B-schools are mentioned below. Going through the below table, MBA aspirants can get the answer to the question, Why MBA so expensive?
B-School | IIM Fee Ranges (Approx in Rs.) |
IIM MBA Fees | Rs 12,00,000 to 28,00,000 |
IIT MBA Fees | Rs 4,00,00 to Rs 21,00,000 |
XLRI Jamshedpur | Rs 16.8 lakh |
Rs 24.16 lakh | |
Rs 16.50 lakh | |
Rs 21.25 lakh |
Frequently Asked Questions (FAQs)
Usually, the highest fee in Tier-1 MBA colleges ranges from Rs 15,00,000 to Rs 30,00,000. Apart from that the MBA fee structure in top IIMs ranges from Rs 15,00,000 to Rs 28,00,000.
An MBA programme is designed to develop candidate's skills in various domains. However, Engineering course follows a single path. MBA degree is a qualification that gives a student a step-up in their careers and enhances their skills and competence. The MBA fee also includes an opportunity cost.
One of the most significant reasons behind the expensive nature of the MBA programs in India is the need for robust facilities and infrastructure. In order to deliver high-quality education, B-schools require well-equipped libraries, modern classrooms, audio-visual aids, computer labs, and other amenities.
Doing an MBA is only worth the expense, time, and effort when a graduate plans to work in a business-related sector, in management, or as a company founder.
On Question asked by student community
Hello
As you said you by mistakenly done that, you don't need to get worry regarding that ,
Just inform the help desk and carry the correct certifications , the state certificate will not disqualify you .
The steps you can follow is -
1. You can check if the correction window is available or not
2. Contact the CAT desk immediately.
Hope this helps
In CAT registration, you cannot create a new user ID with the same mobile number, even if you use a different email ID. Each mobile number and email can be linked to only one account. If you already registered once, the system will not accept a duplicate with that number. To register again, you must use a new mobile number and new email ID. If you lost your old login, you can recover it through the forgot password/user ID option on the CAT portal.
Yes, you can fill the CAT form even if you currently have a backlog. CAT eligibility requires you to be in your final year of graduation or already graduated backlogs don’t stop you from applying.
While filling the form:
Enter the aggregate percentage/CGPA of marks you have obtained up to the latest semester for which results are declared (in your case till 4th semester).
There will be an option to mention that you have a backlog.
If you clear the backlog later, you’ll just need to show the updated marks during admission.
Hello Aspirant,
Yes, you can apply for the CAT exam as a final-year student. You must declare your backlog on the online application form. You do not write about it on the final-year student certificate; that document is to certify your enrollment status. You must clear all backlogs before the final admission process to any MBA college.
Hello,
Thank you for your question!
KL- MAT syllabus: Quantitative Aptitude, Reasoning, English/Verbal Ability, and General Awareness (similar to MAT/CMAT pattern).
CAT scores are valid in many private universities including KL University, but always check the year’s admission notification.
CAT vs other exams: CAT is toughest (IIMs + top B-schools), while MAT/CMAT/ATMA are relatively easier and accepted by many mid-level private universities.
Hello it will clear your doubt!
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