IIM's n other B-schools hike fees

[praveerkhaitan]

IIM fees should be atleast 10 lacs considering the quality and level of education they impart to us. talking of faculty , i feel they more than deserve the rise if they get it..indian teachers are grossly underpaid...which is why there is such a dearth of good faculty..the ppl who are gona make u ..n u are eying their salaries itself...haha... if u cant earn tht much in a year after mba and repay with interest apart from sustaining urself...u shudnt be joining it neways. take a loan. repay the loan. if u cant....write to pc for a waiver(pun intended)

[sumitrungta]

Originally Posted by social_loafer

yar...arent u treating IIMs as placement agency?..u pay a certain amount..and get a job paying more than that....isint it? and as long as that initial amount charged by placement agency is justified by ur future salary..the placement agency is correct?


Regarding...we are not qualified for raising doubts abt decision taken by administrators of management school..dunno what ur trying to say? are they gods..? and we cant question them?.....

~the issue is not the fee hike..but a 60% hike.....

Man placement agencies...!!! If this isnt dis respect to IIMs then it surely is to all the brilliant students and teachers out there.....

I am in no which way trying to do that bro....i was talking in terms of worth and that too since ppl out here are being too materialistic to evaluate a MBA degree in terms of returns.....for me its about once in a life time learning and savouring moment (that i hope to live in the next two years).....

And secondly i am not trying to say that they are GODS...but what i am trying to say that one shud have respect for the ppl out der....in all likely hood those ppl are better than most of us out here in analysing and deciding upon such things....u can argue upon dis as much as u want but it is a fact...which ppl shud try to understand.....

p.s. : My final word on dis, I dont know if the decision is justified or not or whether it was called for or not, but one thing that I know for sure is that It is not unfair and it is worth it...(atleast the way I look at it)

[rpradeephere]

Originally Posted by nexus.magnate

Hi All ,

Friends IIMs have forgot that the teaching is a noble cause and they are driven by greedy money minded people , the reason for fees hike is to compensate better perks for their faculties. Faculties may be feeling jealous by seeing heavy pay packet for the students. If students are getting better salaries than its because of thier caliber (after all the hard work of CAT and getting selected among odd 1 and half lac aspirants).

I did not want to post in this thread. But the above just made me lose my cool.

My god. What attitude was that!

I don't understand what you think about these profs.

Just imagine, after passing out of IIM's, wet behind the ears we expect crazy salaries, salaries which were unheard of even 2-3 years back. And you are talking of profs who are teaching us expecting a better salary as greedy. Especially after knowing of their salary.

IIM Calcutta Media >> News and Events >> Full Article

Please see the above. A professor with (conservatively estimating) 20 years of experience gets 55-60k per month. Thats 7-8L. AndI am talking of a professor.

One conveniently, at the age of 23 wants a 20L domestic I banking salary or a nice 125K USD job at New York and hopes the placements and salaries perpetually increase but talks of profs expecting a hike from a paltry 7-8L salary as "greedy/jealous".

Please.

I just hope all these profs retire and you join IIMs and find some stupid teaching assistants teaching. The IIMs have been built by these profs. Period. Our top engineering colleges became top because of these profs and we now know how it is these days.

And the second grouse.

Someone is talking of calibre! And that the money they get in the market today is because of their "calibre".

For 2005 batch passouts of IIMA, guess how much was the average salary? Rs. 7.9 Lakhs. Yes. Today, its 17.85 L. In 3 years flat. Did the calibre increase by whatever percentage?

Beta, There is something called "demand/supply", something called "better opportunities", something called "better economy" and so many other things. How nice of us to convert all this into a word called "calibre". Makes us feel happy, intelligent, inflated and arrogant.

BTW, Do you know what you implied in your post?

For "MY calibre" I should get 15-20L salaries at 23 years and for the "Profs Calibre" he must be happy with 7-8L salary at 45 years.

This just irked me. And the reasoning for it was something as irrational as "teaching is noble" and stuff.

The problem with our economy is all of us have got things a bit too easy and we have taken it for granted. Just like some correction is taking place in Stock indices and Real estate prices, I hope some correction happens in the market and all of us realize our absolute values.

Disclaimer:

1. I am not pro hike/anti hike of fees etc. My only gripe was against the above quoted para which talks of profs expecting a salary hike etc as bad.

2. His/Her points on other topics like his friend's dad getting 2.4L and stuff, I felt they were relevant and will be a healthy discussion.

[rohith_s_theone]

IIM-B has hiked fees from 2.5Lakhs per annum to 4 Lakhs per annum.
The reason they have given is that the sixth pay commission report will be implemented shortly by the government which will increase the salaries by 30 to 40 %
They are passing the additional burden directly to the students.
They also claim that inspite of the fees increase the students will bear only 50% of the cost (which means to say that cost per student in IIM will be 16 Lakhs per head)

I don't see why the costs are so high. Like engineering colleges IIMs do not have labs.
The buildings and other infrastructure is already there. The salaries paid to the teachers are also not that high. The government also gives a large sum of money.

I feel that if they cut unnecessary costs then the students will be benefited.

[Keere]

Unlike engineering colleges, Management Education requires quality faculty. High Quality faculty doesn't come at a low cost.

Why should government keep giving money to a class of people who are going to be more than fit enough to pay for their own education.

P.S: I am an aspirant and I do have calls from IIMs.

[gvg]

Hi Puys,

There has been a lot of heated debate about the hike in the IIM fees. Keeping in mind the quality of professors it does make sense them getting a pay hike. But I would like to point out that most professors are consultants in top MNCs apart from teaching in IIMs. So in a way they are making money, the govt has allowed them to work apart from being faculty here. I feel this whole concept is beneficial both ways as in both the profs benefit as well as the students. Secondly speaking of the hike specifically I feel the govt can allocate more funds for the IIMs and IITs and IISc. with an allocation of 34,000 crores for education this year they are focussing more on getting more IIMs and IITs in place rather than ensure that the present ones are catered for in a proper manner. It is difficult to secure a loan upwards of 8,00,000 which just accounts for the tution fees excluding boarding, lodging and other incidental expenditure. Banks ask for collateral and a lot of other conditions which are almost impossible to meet. It is better that the govt does something than transfer the burden onto the students. With regards the argument that the students earn a lot more once they pass out, it should be kept in mind that first the student has to get in before he can pass out and if he lacks the funds to even get in then it just shows the sad state of affairs in India.

[somak2001us]

now IIM Lucknow increases their fees..

IIM-L to hike fee from next session-Lucknow-Cities-The Times of India

[willsurelywin]

Originally Posted by rpradeephere

I did not want to post in this thread. But the above just made me lose my cool.


For 2005 batch passouts of IIMA, guess how much was the average salary? Rs. 7.9 Lakhs. Yes. Today, its 17.85 L. In 3 years flat. Did the calibre increase by whatever percentage?

Beta, There is something called "demand/supply", something called "better opportunities", something called "better economy" and so many other things. How nice of us to convert all this into a word called "calibre". Makes us feel happy, intelligent, inflated and arrogant.

BTW, Do you know what you implied in your post?

For "MY calibre" I should get 15-20L salaries at 23 years and for the "Profs Calibre" he must be happy with 7-8L salary at 45 years.

This just irked me. And the reasoning for it was something as irrational as "teaching is noble" and stuff.

The problem with our economy is all of us have got things a bit too easy and we have taken it for granted. Just like some correction is taking place in Stock indices and Real estate prices, I hope some correction happens in the market and all of us realize our absolute values.

Disclaimer:

1. I am not pro hike/anti hike of fees etc. My only gripe was against the above quoted para which talks of profs expecting a salary hike etc as bad.

2. His/Her points on other topics like his friend's dad getting 2.4L and stuff, I felt they were relevant and will be a healthy discussion.

dude with US RECESSION and with IT recession and its effect on total economy all will get their absolute values..

the days of all top **** and harry in pvt sector r gone

[amitnsitian]

Now its IIMB's turn to do the honours

IIM Bangalore hikes fees to Rs 4 lakh

First year 4 lacs and second year 5 lacs

[krishsuraj]

Originally Posted by nexus.magnate

Hi All ,

Friends IIMs have forgot that the teaching is a noble cause and they are driven by greedy money minded people , the reason for fees hike is to compensate better perks for their faculties. Faculties may be feeling jealous by seeing heavy pay packet for the students. If students are getting better salaries than its because of thier caliber (after all the hard work of CAT and getting selected among odd 1 and half lac aspirants).I could not understand why there is sudden increase in fees year after year , last year they have increased from 175000 to around 250000 and again this year from 250000 to 400000 despite the fact that each of the top IIMs have surplus money of 100 crores with them.

As far as BANK loans are considered , its not at all justified that since we get good placement from IIMs we should pay huge fees , if tomarrow IIMs say that ur getting 25 lac as a package from this institute so pay 20 lac as fees on the name of development and will politely say "Dont worry we have a tie up with bank and it will provide the loans".

One of my junior who is in final year of Engg, he have a calls from IIM B ,C , K he is in big shock because of this fees hike, his father is a clerk in a bank with annual income of just 2.4 lac , his father has already took a loan for his engineering studies and agian a loan of around 8 lac will be verydifficult for him.IIMs support scholarship only to those whose annual income are less than 2 lac(how rubbish), If someone's family income is less than 2 lac how one can prepare for CAT ,as preparation itself costs around Rs.30-40 K(including coaching clases test series and forms of various institues).

CALLS : IIM B , I , K ,FMS

Converted :SCMHRD

I just dont understand the concern surrounding the fee hike. I just graduated from IIML and I had taken a loan of around 5.5 L which included 4L as fees and 1.5L for monthly expenses and now my monthly repayment is ard 10,000 rupees. Most IIM grads get around 55k-60k atleast in hand per month (excluding year end bonuses which form a sizeable part of the salary). They can easily pay off the loan. Even if the fees for the current batch is hiked to 8L for two years and another 2L for monthly expenses, the monthly repayment wont exceed 20k which i feel is quite justified. Why should the tax payer finance an IIM grad's education? i'm sure when Class of 2010 passes out of the IIMs, the monthly in hand component would have exceeded 80k-90k. And ya, even if your father has zero income, u get a loan without any collateral or margin payment.

And comments like 'greedy for money', 'teaching is a noble cause' sounds funny coming from an IIM aspirant.