IIM brand spells high value for money

Jaishankar Jayaramiah, Sudipta Dutta, Reema Jose
Posted: Monday, Apr 28, 2008 at 2324 hrs IST
Updated: Monday, Apr 28, 2008 at 2324 hrs IST

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IIM-A gives green light to new pay scale

: IMS Dehradoon, Ashutosh Pandey believes that fee is not a big deal since, recovery of the fees is easily possible through the offered packages. In the case of IIMs he says, “The IIM believes in practical teaching. Students should get a chance to learn under actual working conditions through case studies. Neither the fee hike nor the reservations will affect the brand IIM.”

Indian industry that descends every year to hire IIM students in their campuses across the country has been positive in its reaction to the fee-hike. T V Mohandas Pai, head, human resource development Infosys Technologies, says: “The fee hike in IIMs is a good move. IIM is a premium product and the cost of education should reflect that. The government should stop giving subsidies to the IIMs and let them stand on their own feet. The fee should be hiked so that the IIM can pay their faculty well and get good people.” He feels that poor students should be given scholarships to apply for an institute of their choice, while, Ravi Ramu, chief financial officer cum director of real estate major Puravankara Projects Ltd says, “That the IIMs have played a vital role in providing corporate India and MNCs top quality management talent over the last two decades is well established… Increasing fees is an imperative for the teaching and support staff to be appropriately compensated and facilities upgraded, expansion plans to be financed and business returns generated. After all the students need to pay a market price for the value they obtain – they can well afford it.”

Although the Union Human Resources Minister, Arjun Singh, has held that these elite management schools were established by the government and that there was “no question of withdrawing support or grant to them”, an IIM-B alumnus D Muralidhar, who is also senior vice-president of Federation of Karnataka Chambers of Commerce and Industry (FKCCI) says, “I strongly support the move of all the IIMs in increasing the annual fees.” Muralidhar said the government's subsidy for education should be restricted only upto high school level. It is well known that good pay attracts good faculty and this is a model that is followed in the US. S Viswanathan, chairman of CII Karnataka said the IIMs should be self-funding and not dependent upon any authority for its finance requirement. It should also be able to take decisions without any...

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