Hello aspirant,

IIMs can be broadly classified into 3 clusters based on the fee they charge.

IIM A, B, C - Rs. 20 to 22 lakh

IIM L, K, I - Rs. 14 to 17 lakh

New IIMs - Rs. 10 to 14 lakh

IIMs have been increasing their fee by 10 to 15% every year citing inflation. The fee might go up next year by 10 to 15% going by the trend.

Apart from the tuition and accommodation fee, one can expect to incur around Rs. 2 to 3 lakh as living expenses for 2 years. Also, the foreign exchange program will cost around Rs. 3 to 4 lakh, if one opts for it. Educational loans are available at competitive rates to fund the academic expenses that one has to bear at IIMs, including the exchange program.

People go out often during the 2 year period. People go on trips to improve the bonding between the peers. It is important to know your peers well while doing an MBA. People spend a lot of time to socialize with their peers during their stay at the institute and the process can be expensive. Knowing your peers well can help a lot during the later part of the career in getting valuable opportunities.