- FMS Delhi's fee is Rs 2.43 lakh for the 2026-28 batch in our table, against Rs 20.75 to 27.5 lakh at the older IIMs. Its 2027-29 fee sheet works out to about Rs 2.60 lakh and can be revised.
- FMS reported an average of Rs 32.27 lakh and a median of Rs 29.59 lakh (2024-26). That is above IIM Indore and Kozhikode and just below IIM Lucknow, and below IIM Ahmedabad, Bangalore and Calcutta.
- Our CAT cutoff estimate of 98.5 is modelled for a roughly 50% chance of a call. FMS shortlists on a weighted CAT score (VARC 40%, DILR 30%, QA 30%), so one percentile number does not describe it.
- 287 of the 304 students who appeared for placement were placed, in a batch of 307.
FMS Delhi vs IIM is not a fee contest. FMS charges about Rs 2.43 lakh for two years against Rs 20.75 to 27.5 lakh at the older IIMs, yet its reported average package (Rs 32.27 lakh, 2024-26) sits above IIM Indore and IIM Kozhikode and just below IIM Lucknow.
This post lines FMS up against six IIMs on verified fee and package, explains why its CAT cutoff is hard to state, and says what the low fee leaves out. Figures are as of 6 November 2026.
FMS Delhi vs IIM: how do the fee and package compare?
| Institute | Total fee (batch) | Average (Rs lakh) | Median (Rs lakh) | Placement batch | CAT cutoff (est.) |
|---|---|---|---|---|---|
| FMS Delhi | Rs 2.43 lakh (2026-28) | 32.27 | 29.59 | 2024-26 | 98.5 |
| IIM Ahmedabad | Rs 27.5 lakh (2025-27) | 37.97 | 37 | 2024-26 | 98.3 |
| IIM Bangalore | Rs 26 lakh (2026-28) | 35.35 | 34.75 | 2024-26 | 98 |
| IIM Calcutta | Rs 27 lakh (2026-28) | 36 | 35 | 2024-26 | 97 |
| IIM Lucknow | Rs 20.75 lakh (2026-28) | 33.2 | 32.9 | 2024-26 | 97 |
| IIM Indore | Rs 24.12 lakh (2026-28) | 27.27 | 25 | 2024-26 | 96 |
| IIM Kozhikode | Rs 23.5 lakh (2026-28) | 28.18 | 27.5 | 2023-25 | 92 |
IIM Ahmedabad reports its package on a different basis from most colleges (maximum earning potential for domestic offers), so compare its average with care. The cutoff column is our estimate of the percentile for about a 50% chance of an interview call, General category, average profile.
FMS's average is Rs 0.93 to 4.72 lakh below IIM Lucknow, Bangalore, Calcutta and Ahmedabad, and Rs 4.09 to 5 lakh above IIM Kozhikode and Indore.
Why is the CAT cutoff for FMS hard to state?
- It shortlists on a weighted score. FMS uses CAT 2026 with VARC at 40%, DILR at 30% and QA at 30%, and gives 5 extra marks to women. Two candidates with the same overall percentile can rank differently.
- The final merit list is broader. Weighted CAT is 50%, Class X 10%, Class XII 10%, a statement-of-purpose discussion 10%, an extempore 5% and the interview 15%.
- Our figure is a model. The 98.5 comes from our own estimate. FMS's own cutoffs are not in our files, and figures quoted for FMS vary from page to page.
How does admission to FMS work?
- Eligibility (2027-29): a bachelor's degree after twelve years of schooling with at least 50% (passing marks for SC, ST; 45% for OBC-NCL, EWS, PwD and CW). Final-year students can apply.
- Exam: CAT 2026 is compulsory. No work-experience rule is stated.
- Dates: applications close on 25 November 2026, four days before CAT is held on 29 November. Check how your score reaches FMS.
- Intake and class: 251 seats for 2027-29. The 2024-26 batch had 307 students, 44% engineers, 54% freshers and an average of 19.5 months of work experience. More detail is on the FMS Delhi page.
How are the FMS placement numbers counted?
FMS's 2024-26 report says 287 students were placed of 304 who appeared for placement. The batch had 307 students, and 3 took a placement holiday. That is 94.4% of those who appeared and 93.5% of the batch. 119 companies took part.
The report also says offers above Rs 25 lakh went to 74.9% of the batch. It lists recruiters by domain, and we hold no sector split for FMS, so a sector comparison with the IIMs is not possible here.
What about brand, network and the Delhi advantage?
FMS was established in 1954 and is a faculty of the University of Delhi, in Kamla Nagar. Delhi gives access to Delhi NCR employers, which is a convenience and not a number.
Brand and alumni strength are real, but our data cannot measure them. Treat any claim here as opinion and ask alumni in the sectors you want.
What does the fee-to-package ratio say?
- Average package: Rs 32.27 lakh.
- Total fee: Rs 2.43 lakh.
- 32.27 divided by 2.43 is 13.3.
Answer: About 13 times the fee. On the same method IIM Ahmedabad is 1.35, IIM Bangalore 1.36, IIM Calcutta 1.33, IIM Lucknow 1.60, IIM Kozhikode 1.20 and IIM Indore 1.13.
The IIM fees in the table are about 8.5 to 11.3 times FMS's. The ratio is dramatic because the fee is so small. The real difference for most students is the loan, since the two years of lost salary and living costs apply at both.
Who should pick FMS over an IIM call?
- You hold a call from IIM Indore, IIM Kozhikode or a newer IIM. FMS's average is higher than both and its fee is about a tenth.
- You want to avoid a large loan.
- You plan to work in Delhi NCR.
Pick the IIM if you hold a call from Ahmedabad, Bangalore or Calcutta, whose medians (Rs 37, 34.75 and 35 lakh) are above FMS's Rs 29.59 lakh, or if an IIM's published sector mix matches your target. IIM Ahmedabad, for example, reports consulting at 155 of 392 accepted offers, about 39.5%. With a call from IIM Lucknow, compare medians (32.9 against 29.59) with a Rs 18 lakh fee gap.
What does a Rs 2.43 lakh fee not include?
- Fee revisions. The University of Delhi can revise fees at any time. The 2027-29 fee sheet works out to about Rs 2.60 lakh, four semesters at roughly Rs 65,075.
- Living costs. A semester fee does not cover housing, food, books or travel in Delhi. Check FMS's page for hostel details.
- Income not earned. Two years of study cost the same lost salary at an IIM or at FMS.