Indian Institute of Management (IIM) Mumbai – Complete Guide to Fees and Financial Structure (2025)

Introduction

The Indian Institute of Management Mumbai, formerly known as the National Institute of Industrial Engineering (NITIE), is one of India's most prestigious business schools. Located in Powai, Mumbai, the institute received the IIM status in 2023, officially becoming the 21st Indian Institute of Management in the country. IIM Mumbai is renowned for its legacy in industrial management, operations, supply chain, sustainability, and analytics education.

Over the years, the institute has built an excellent reputation for its high-quality academic programs, impressive placement records, and cutting-edge research initiatives. As IIM Mumbai transitions from a specialized industrial management institute to a full-fledged IIM, many students and aspirants are curious about its tuition structure, fees, scholarships, and funding options.

This comprehensive guide offers a detailed view of IIM Mumbai’s fee structure for the academic year 2025 and other financial aspects that students should be aware of.

Overview of Academic Programs at IIM Mumbai

IIM Mumbai currently offers a variety of postgraduate and doctoral programs designed to meet the evolving needs of the business world. These programs are structured to develop management professionals with strong analytical, leadership, and strategic decision-making capabilities.

Programs Offered:

1. Master of Business Administration (MBA)

   • MBA (General)

   • MBA in Operations and Supply Chain Management (OSCM)

   • MBA in Sustainability Management (SM)

2. Executive Programs

   • Post Graduate Diploma in Executive Management (PGDEx-VLFM)

3. Doctoral Program

   • Doctoral Program in Management (Ph.D.)

Each of these programs has distinct eligibility criteria, curriculum, and fee structures. Let’s break down the detailed fees below.

Detailed Fee Structure – Academic Year 2025

1. MBA Programs (General, OSCM, SM)

The flagship two-year MBA programs offered by IIM Mumbai are structured to provide students with foundational and advanced management knowledge. The following is the breakdown of the fees for the two-year MBA programs:

Notes:

• The hostel and mess fees vary based on the room type and mess selection.

• The refundable caution deposit is returned after successful completion of the course.

• Fees may be revised based on inflation and institutional policy.

2. PGDEx-VLFM (Post Graduate Diploma for Executives)

The PGDEx-VLFM is a one-year full-time executive management program targeting professionals with experience in manufacturing and operations.

3. Doctoral Program (Ph.D. in Management)

Ph.D. candidates receive substantial support to pursue research in their chosen field. The fees for the doctoral program are significantly subsidized to encourage research excellence.

Ph.D. scholars also receive monthly stipends based on the guidelines of the institute and available funding.

Additional Expenses and Living Costs

While tuition and academic fees are the primary components, students also incur other expenses during their stay at IIM Mumbai.

Hostel Charges:

• Shared Accommodation: ₹20,000 – ₹40,000 per year

• Single Occupancy (if available): ₹50,000 – ₹75,000 per year

Mess Charges:

• Monthly: ₹3,000 – ₹4,500

• Annual Estimate: ₹36,000 – ₹54,000

Books, Study Materials & Laptop:

• Estimated at ₹30,000 – ₹50,000 for the entire program

Local Transportation & Miscellaneous:

• ₹20,000 – ₹30,000 annually

Scholarships and Financial Aid

IIM Mumbai supports inclusivity and ensures that meritorious and deserving students are not denied access to quality education due to financial constraints.

Types of Scholarships:

1. Merit-Cum-Means Scholarships

• Offered to students with academic excellence and family income below a specified threshold.

2. Reserved Category Scholarships

• Students belonging to SC, ST, OBC, and EWS categories are eligible for scholarships provided by the central and state governments.

3. Institute-Specific Scholarships

• IIM Mumbai provides its own scholarships from the institutional corpus based on academic performance, financial background, and leadership qualities.

4. Scholarships for Women

• Female candidates are encouraged through financial aid and dedicated scholarship funds.

5. Corporate Scholarships

• Sponsored by partner organizations to support students in specific domains like analytics, sustainability, and supply chain.

Financial Support and Education Loans

Several leading public and private banks, as well as NBFCs, offer student loans for IIM Mumbai students under favorable conditions. Benefits typically include:

• No collateral for loan amounts up to ₹7.5 lakhs

• Subsidized interest rates for top-ranking institutes

• Extended repayment periods (up to 15 years)

• Moratorium periods covering the study duration and a grace period after graduation

Popular loan providers include nationalized banks and government education loan schemes.

Payment Schedule

The total fees are usually payable in six installments spread across the two academic years. The tentative schedule is as follows:

• Installment 1: At the time of admission (includes caution deposit)

• Installment 2: Start of Term I

• Installment 3: Start of Term II

• Installment 4: Start of Term III

• Installment 5: Start of Term IV

• Installment 6: Start of Term V

The fee structure and schedule are shared with candidates during the admission offer process.

Placement-Related Fee Components

IIM Mumbai does not charge additional placement fees. Placement training, corporate interactions, and networking opportunities are included as part of the academic fee structure.

The Career Development Cell at IIM Mumbai assists students in:

• Resume building

• Mock interviews

• Internship guidance

• Final placement preparation

Comparative Fee Analysis with Other IIMs (2025 Estimates)

To provide broader context, here is a comparison of MBA fees across major IIMs:

As seen, IIM Mumbai’s fees remain comparatively affordable, especially given its strategic location in Mumbai and its reputation for excellence in operations and supply chain.

Frequently Asked Questions (FAQs)

1. Is there a waiver for the caution deposit?

No, the caution deposit is mandatory but refundable upon completion of the program.

2. Are there fee reductions for economically weaker students?

Yes, need-based scholarships and government aid are available.

3. Do international students pay the same fees?

International students may be subject to a different fee structure as per institute norms.

4. Is hostel accommodation compulsory?

Yes, full-time students are required to stay on campus for a residential learning experience.

5. Can I pay the fees in installments?

Yes, fees are divided into installments as per the academic terms.

Conclusion

The Indian Institute of Management Mumbai offers a world-class management education experience at a competitive cost. With its strategic location in India’s financial capital, world-class faculty, and robust industry linkages, the value proposition for students is significant. The fee structure is transparent and includes facilities like placement support, accommodation, and access to premier academic resources.

Prospective students are advised to keep an eye on the official IIM Mumbai notifications and brochures for any updates in the fee structure, scholarship offerings, and financial aid schemes for the 2025 academic year.