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.
