Great Lakes - PGPM & PGDM 2025
Admissions Open | Globally Recognized by AACSB (US) & AMBA (UK) | 17.3 LPA Avg. CTC for PGPM 2024 | Extended Application Deadline: 10th Feb 2024
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.
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.
Admissions Open | Globally Recognized by AACSB (US) & AMBA (UK) | 17.3 LPA Avg. CTC for PGPM 2024 | Extended Application Deadline: 10th Feb 2024
250+ Companies | Highest CTC 16 LPA | Average CTC 8 LPA | Ranked as Platinum Institute by AICTE for 6 years in a row | Awarded Best Business School of the Year
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 |
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.
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.
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.
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.
Hello,
Here are important points regarding your query :-
Hope it helps !
Hi,
Based on the previous year analysis, According to your CAT 2024 percentile some of the colleges in which you have chances to get a seat includes:
You can predict more colleges using the CLAT 2024 college predictor tool .
Hope this information will help you
Hello Greetings
With a CAT 2024 percentile of 68.28%, you may face a challenging time getting into IIT Delhi, as their cutoffs are typically higher. However, being an SC female student, you may be eligible for relaxation in the cutoff criteria .
To give you a better idea, here are some general CAT cutoff percentiles for IITs and other top B-schools:
- *IIT Delhi*: Typically above 90 percentile for general category students.
- *Newer IIMs*: Such as IIM Vishakapatnam, IIM Shillong, and IIM Udaipur, may have lower cutoffs, around 80-90 percentile.
- *Other top B-schools*: Like IMT Ghaziabad, XIM Bhubaneswar, and TAPMI, may also consider students with lower percentiles.
It's essential to note that CAT cutoffs can vary from year to year, and other factors like your academic background, work experience, and performance in the personal interview (PI) and written ability test (WAT) also play a significant role in the admission process.
To explore more options and predict your chances of getting into various colleges, you can use online CAT college predictor tools .
Have a great day
Hello Greetings
Considering your 82.58 percentile in CAT and 22 months of industry experience in IT and Financial analysis, you have several options for General Management PGDM or PGPM programs.
*Decent Colleges Accepting Low CAT Percentile:*
- _SPJIMR_: Offers PGDM and PGPM programs, accepting CAT scores, with a minimum eligibility criterion of 50% aggregate in graduation ¹ ².
- _SOIL_: Provides PGPM and PGDM programs, considering CAT scores, with a focus on experiential learning ³.
- Other institutes like _IMT Ghaziabad_, _XIMB_, and _IRMA_ might also accept candidates with lower CAT percentiles, but this may vary depending on the program and intake.
*Key Factors to Consider:*
- _Work Experience_: With 22 months of experience, you might be eligible for PGPM programs, which typically require more work experience than PGDM programs ¹.
- _Career Gap_: Explain your career gap effectively in your application, highlighting any relevant activities or skills gained during that period.
- _Profile-Based Selection_: Some institutes consider profiles, including work experience, academic background, and extracurricular activities, in addition to CAT scores ¹.
*Next Steps:*
1. Research the institutes mentioned above and their programs.
2. Review the eligibility criteria, admission process, and fees for each program.
3. Prepare your application, ensuring you effectively communicate your strengths, work experience, and career goals.
4. Be prepared for interviews, focusing on your profile, experience, and motivation for pursuing a PGDM or PGPM program.
Remember, a lower CAT percentile doesn't necessarily limit your options. Focus on showcasing your strengths, experience, and fit with the program to increase your chances of admission.
Have a great day
Hi Gaurav,
The Common Admission Test (CAT) is a national-level management entrance exam conducted annually in India for admission into MBA/PGDM programs at prestigious institutions like the Indian Institutes of Management (IIMs) and other top B-schools.
For registering for CAT 2025, you can follow the given steps:
For more recent details, you can check out the given link.
Best wishes!
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Admissions Open | Globally Recognized by AACSB (US) & AMBA (UK) | 17.3 LPA Avg. CTC for PGPM 2024 | Extended Application Deadline: 10th Feb 2024
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