IIM Bangalore to Hike Placement Fee

IIM Bangalore to Hike Placement Fee

The Indian Institute of Management, Bangalore (IIM-B) is all set to increase its Placement Fee this year. This is happening at IIM-B after a period of three years. Incidentally, IIM Ahmedabad & IIM Kozhikode had already increased their placement fees last year, while IIM Indore also plans to follow suit next year.

Rise in costs, service tax and recognition of their own increased brand value has prompted most IIMs to raise their Placement Fees, and in some cases - like IIM Kozhikode's - this increase is up to 25%.

The exact increase in Placement Fee by IIM-B is yet to be decided, but it could be somewhere between Rs. 20,000 to Rs. 50,000.

The Placement Fee, in fact, is comprised of Participation Fee and Recruitment Fee. The Participation Fee is a fixed amount that a company has to pay to the institute to be present on its campus, while the Recruitment Fee is a variable component wherein the institute charges a specific amount from the company, multiplying it by the number of students it recruits.

	Participation Fee	Recruitment Fee
Day Zero	Rs. 1 Lakh	Rs. 50,000
Day One	Rs. 60,000	Rs. 50,000
Day Two	Rs. 40,000	Rs. 40,000
Day Three	Rs. 30,000	Rs. 30,000

Current Placement Fee Structure for Recruitment from IIM-B by Domestic Recruiters

The Placement Fee varies for domestic and international recruiters. IIM-B, as of now, does not charge any Participation Fee from international companies, but a Recruitment Fee of $ 4,000 (around Rs 1.6 Lakh) is collected from the international companies recruiters.

Incidentally, the money generated by these institutes through their placement processes is utilized towards meeting capital expenditure and other campus-related expenses. As of now, the proposal to increase the Placement Fee has been made to the IIM-B Board and expected to get the Board's clearance in next couple of weeks. All the companies will be informed accordingly after that.

Concluded.

Contributed by -
Coolavenue's Editorial Team.

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