- Our 14 newer IIMs charge Rs 17.9 to 26.18 lakh in total fee and report average packages of Rs 13.3 to 27.03 lakh (12 with a verified average).
- FMS Delhi (Rs 2.43 lakh, average Rs 32.27 lakh), SPJIMR (Rs 33.6 lakh), MDI (Rs 29.5 lakh) and XLRI (Rs 31.4 lakh) all report higher averages than the best new IIM, IIM Shillong at Rs 27.03 lakh.
- Under a stated assumption, FMS, SPJIMR, MDI and XLRI recover fee plus two years of salary in about 0.8 to 2 years, against 2.2 to 7 years for the new IIMs shown.
- Entry is not easier at a new IIM: their cutoff estimates run from 85 to 97.5 percentile, and SPJIMR's estimate is 93.
- How much the IIM name is worth to a recruiter is a judgement the numbers cannot settle.
On verified numbers, FMS Delhi, SPJIMR, MDI and XLRI report higher average packages than any of the 14 newer IIMs in our table, although SPJIMR, MDI and XLRI charge more than the typical new IIM. The new IIMs offer the IIM name and a CAT-only route, which these figures cannot price.
This guide compares the groups on fee, package, entry difficulty and payback, with batch years on every number. It also explains where fees are not like for like. Figures were checked on 6 Nov 2026. Cutoffs are modelled estimates, not official thresholds.
Which IIMs count as new in this new IIM vs FMS, XLRI, SPJIMR comparison?
We call the six older IIMs (Ahmedabad, Bangalore, Calcutta, Lucknow, Indore, Kozhikode) old, and the other 14 in our table new: Tiruchirappalli, Shillong, Ranchi, Udaipur, Raipur, Rohtak, Kashipur, Nagpur, Visakhapatnam, Amritsar, Bodh Gaya, Jammu, Sambalpur and Sirmaur. IIM Mumbai is left out of both groups.
The non-IIM side is FMS Delhi, SPJIMR Mumbai, MDI Gurgaon and XLRI Jamshedpur. A per-IIM table is in our separate guide to old versus new IIMs.
What do the fees show, and are they like for like?
The 14 new IIMs have verified total fees from Rs 17.9 lakh (IIM Rohtak) to Rs 26.18 lakh (IIM Shillong), with a median of Rs 20.39 lakh. FMS Delhi is Rs 2.43 lakh, SPJIMR Rs 24.86 lakh, MDI Rs 22 lakh and XLRI Rs 30.5 lakh.
How do average and median packages compare, with batch years?
| Programme | Total fee (lakh, batch) | Average / median (lakh, batch) | CAT cutoff estimate |
|---|---|---|---|
| FMS Delhi | 2.43 (2026-28) | 32.27 / 29.59 (2025-26) | about 98.5 |
| SPJIMR Mumbai | 24.86 (2027-29) | 33.6 / 32.85 (2024-26) | about 93 |
| MDI Gurgaon | 22 (2027-29) | 29.5 / 29 (2025-26) | about 95 |
| XLRI Jamshedpur BM | 30.5 (2027-29) | 31.4 / 29 (2024-26) | XAT route, none |
| IIM Shillong (new IIM) | 26.18 (2024-26) | 27.03 / 26 (2024-26) | about 94 |
| IIM Rohtak (new IIM) | 17.9 (2026-28) | 20.03 / 18 (2024-26) | about 97.5 |
| IIM Udaipur (new IIM) | 19.26 (2026-28) | 18.8 / 18 (2025) | about 95 |
| IIM Sirmaur (new IIM) | 21 (2026-28) | 13.3 / 14.2 (2024-26) | about 88 |
Across the new IIMs, 12 have a verified average, ranging from Rs 13.3 lakh to Rs 27.03 lakh with a median of Rs 18.44 lakh. IIM Amritsar and IIM Sambalpur have no verified average in our table. XLRI's report covers its BM and HRM programmes together, across Jamshedpur and Delhi-NCR.
How hard is entry? Cutoff estimates and official minimums
Our estimates are the CAT percentile for a 50% chance of an interview call (General category, average profile). For the new IIMs they run from 85 to 97.5, with a median of 94.5. FMS Delhi is 98.5, MDI 95 and SPJIMR 93. SPJIMR's estimate is below the new-IIM median, yet its average package is higher than any new IIM's.
Some minimums are official. IIM Rohtak's 2026-28 policy set a minimum overall CAT percentile of 97 (General) to register, and IIM Udaipur's registration cutoffs were 94 overall and 75 in each section. Those are gates to the next stage, not guarantees. SPJIMR also screens on profile, accepts freshers and up to 5 years of experience, and takes CAT or GMAT. XLRI uses XAT.
What do brand, recruiters, city and exam route add?
- Brand. The IIM name carries weight with many employers, but that is a judgement, and our data cannot measure it. FMS, SPJIMR, MDI and XLRI have their own placement records, shown above.
- Recruiters. Read each college's report for the sector split. XLRI and SPJIMR list consulting and FMCG names, and IIM Shillong reports 27% consulting and 24% BFSI. Check the report for your target sector.
- City. Check each campus's location against the employers and sectors you want, since the city shapes internships.
- Exam route. The new IIMs are CAT-only. CAT 2026 is on 29 Nov 2026, FMS applications close on 25 Nov and SPJIMR's on 27 Nov. MDI's close on 28 Nov. XLRI registration closes on 6 Dec for XAT on 3 Jan 2027.
Take the free CAT Compass mock to see where your score sits, then use the MBA Predictor to see which of these you can reach.
How long does each take to pay back, and on what assumptions?
This illustration assumes you currently earn Rs 8 lakh, forgo that salary for two years and earn the college's average package afterwards. Payback is the fee plus the forgone salary divided by the yearly pay gain, with no tax, interest or hostel. Change the inputs in the ROI calculator.
| Programme | Fee divided by average | Payback (years) |
|---|---|---|
| FMS Delhi | 0.08 | 0.8 |
| SPJIMR Mumbai | 0.74 | 1.6 |
| MDI Gurgaon | 0.75 | 1.8 |
| XLRI Jamshedpur BM | 0.97 | 2.0 |
| IIM Shillong | 0.97 | 2.2 |
| IIM Rohtak | 0.89 | 2.8 |
| IIM Udaipur | 1.02 | 3.3 |
| IIM Sirmaur | 1.58 | 7.0 |
Across all 12 new IIMs with a verified average, fee divided by average runs from 0.89 to 1.58, with a median of 1.09. The averages are from different batches, and a different current salary changes every row.
A decision table by priority
| If your priority is | Lean towards | Because |
|---|---|---|
| Lowest fee | FMS Delhi | Rs 2.43 lakh total, but the cutoff estimate is about 98.5 percentile |
| Highest verified average | SPJIMR, FMS, XLRI | Rs 33.6, 32.27 and 31.4 lakh, against Rs 27.03 lakh for the best new IIM |
| An IIM degree and a CAT-only route | A new IIM | Check the fee and the individual average, which range widely |
| A lower entry estimate | SPJIMR (about 93) or a new IIM at 85 to 94 | Check your own estimate in the predictor |
| XAT strength | XLRI | XAT is its route; fee is Rs 30.5 lakh before hostel |
It depends on your score, your target sector and your budget. A single average hides the spread inside each college, so read the placement report before you decide.