IIM Mumbai (NITIE)

IIM Mumbai: Understanding the Fee Structure

Compared to almost all other IIM institutes, IIM Mumbai is still quite young, but even so, the fee structure at IIM Mumbai is clear and will not change in the near future. undefined

• Tuition Fee: ₹21 lakh up for the 2-year MBA course. This is much lower than some of the more established IIMs like IIM Ahmedabad ₹31.5 Lakh and IIM Calcutta ₹31 Lakh.
• Hostel Charges: About ₹75,000 per year for basic space rental along with the cost of utilities.
• Caution Money Deposit: ₹50,000, which is completely refundable at the end of the program, subject to adjustments for any balance that the participant may owe.
• Alumni Association Fee: ₹7,000 to be paid once only for life membership of the association.
• Other Charges: These can include library, technology, and other miscellaneous fees, usually ranging from ₹10,000-15,000 per year.

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IIM Mumbai: Courses Offered Along with their Fee Structure

The fee structure for MBA programs in IIM Mumbai includes ₹10.5 lahks per annum, and the total fee for both the primary courses offered in IIM Mumbai sums up to ₹21 lahks for the entire course period of two years.

1. Post Graduate Diploma in Management (PGDIM): Post Graduate Diploma in Management (PGDIM):

Focus: Primary M.B.A Majoring in General Management supported by core business areas of study comprising of Marketing, Finance/ ACCOUNTING, Operation and Strategic Management.

2. Post Graduate Diploma in Management (PGDIM) - Operations and Supply Chain Management: 

Focus: Consequently, a specialized program is intended to provide students with the valuable knowledge and skills necessary for successful operations and supply chain management performance.

IIM Mumbai's fees for its MBA program are lower than those of other established IIMs. IIM Mumbai charges less for its MBA program than other reputable IIMs. IIM Mumbai offers comparatively lower fees to increase access to high-quality management education. Being a recently established IIM, they may place a higher priority on attracting students with affordable tuition. The reasonable tuition at IIM Mumbai reflects its distinct approach to increasing accessibility to high-quality management education while preserving innovation and high standards. Students looking for a low-cost MBA experience from a newly established IIM with great potential might find this attractive.

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IIM Mumbai Fees Compared to Other IIMs

IIM Mumbai offers a significant fee advantage compared to several other established IIMs, especially for its MBA program. Here's a breakdown:

Key Points:

• IIM Mumbai's MBA fee is nearly 34% lower than Ahmedabad and Calcutta, 17% lower than Bangalore, and slightly lower than Lucknow and Indore.
• This makes IIM Mumbai a more cost-effective option for MBA aspirants seeking quality education from an IIM.

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IIM Mumbai: Eligibility Criteria for MBA

IIM Mumbai offers admission based on your CAT scores, and to be eligible to take admission into IIM Mumbai one must follow the given guidelines:

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IIM Mumbai: Previous Year’s CAT 2023 Cutoffs

IIM Mumbai, previously known as NITIE, admits students based on their CAT scores. Like other IIMs, IIM Mumbai sets two types of CAT cutoffs: 

• The Qualifying CAT cutoff 
• The Final CAT cutoff. 

Securing a minimum qualifying cutoff just means that the candidate is eligible for the next steps in the admission procedure. It is also important to understand that the Final CAT cutoff at IIM Mumbai will be higher than the Qualifying CAT cutoff. 

For the 2024 admissions at IIM Mumbai, the Qualifying CAT cutoff should be more or less equivalent to 80 percentile or above for the General category candidates, with sectional cutoffs ranging between 75 and 80 percentile. The Qualifying CAT cutoffs are also specified for candidates from other categories.

The category-wise CAT 2023 cutoff for IIM Mumbai MBA admission is tabulated below, sourced from the institute's official website for your reference:

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IIM Mumbai: Rankings

The NIRF ranking of the IIMs for the year 2023 shows that IIM Mumbai has continuously occupied top positions in various categories. As per the above-mentioned standards and criteria, the Faculty Quality Weightage and Employability Weightage are maintained by the institution to obtain a good ranking compared to other universities.

Out of the ‘Management Institutes’ category IIM Mumbai has started this year with some better rankings than last year. However, there is an improvement in the 2023 NIRF ranking where IIM Mumbai has shifted 2 places up to the 7th place in the ‘Management Institutes’ category. It shows that the institute has moved up for the second year in succession and is headed towards a better ranking. It is worth mentioning that IIM Mumbai has ranked in the top 10 in the ‘Management Institutes’ category for the second year in a row, reaffirming its consistent performance.

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IIM Mumbai: Placement Report

IIM Mumbai has concluded its placements for 2024, with the highest package reaching ₹54 LPA and the average package for the top 50% of the batch at ₹33.84 LPA. The placement process included the participation of a total of 180 recruiters, consisting of top companies such as American Express, Accenture, Axis Bank, Abbott, Cipla, and Wipro, with the highest number of students getting placed in the Manufacturing sector (19%).

For the Summer Internship Placements in 2025, IIM Mumbai plans to get its students placed with the highest stipend, reaching ₹4.80 Lakhs per month and an average stipend of ₹2.27 Lakhs per month.

Here is the report from the official website of IIM Mumbai showing the placement statistics for the previous academic years. Have a look at them and make an informed decision for your future.

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IIM Mumbai: Get to Know About the Scholarship Opportunities

At IIM Mumbai, fee assistance opportunities are available through various scholarship schemes awarded based on merit and financial need. Here are some details regarding the available scholarships:

1. Teaching Assistantship for GATE-qualified candidates:

GATE-qualified candidates at IIM Mumbai are eligible for a Teaching Assistantship valued at ₹ 12,400 per month and contingency expenditure per institute regulations.

2. Financial Assistance for SC/ST candidates:

SC/ST candidates can avail of financial assistance as per the scheme provided by the Government of India, subject to meeting the specified terms and conditions.