Fellow Programme in Management (FPM) Full Form, Course, Institutes, Syllabus, Jobs, Scope 2020-2021

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Lubaba Shaheen

Content Writer | Updated on - Sep 15, 2021

The FPM course, or the Fellow Program in Management, is a 4 year long course doctoral course in the various specializations of management. It is considered an ideal degree for students who want to pursue managerial roles or pursue an academic career in the future.

FPM specializes in Information Systems, Business Policy, Human Resource Management, Innovation and Management in Education, Strategy, etc. The course is usually divided into 3 modules, which contain compulsory and elective courses. A student is allowed to apply and study only two areas of specialization at a time. FPM is a full-time, residential course.

The top colleges in India for the FPM course include the Indian Institutes of Management all over India. Since FPM is a research programme, the selected students by IIM are provided an excellent environment for carrying out advanced research, thus creating highly committed researchers trained in the most recent methodologies and engaged in producing original research work.

FPM: Key Points

  • Course Level: Doctoral
  • Full-Form: Fellow Programme in Management
  • Duration: 4 years.
  • Minimum Eligibility: Post graduation with 55% aggregate
  • Admission Process: Admission in this course is offered generally on the basis of entrance exams.
  • Top Entrance Exams: CAT, GMAT, GRE, UGC JRF, RAT, XAT, IIMB Test, etc.
  • Top FPM Institutes: Indian Institute of Management (IIM) Bangalore, Indian Institute of Management Ahmedabad, Indian Institute of Management Calcutta, Indian Institute of Management Lucknow, Indian Institute of Management Indore, Management Development Institute
  • Distance Education/Correspondence/Online: No
  • Specializations: Decision Science, Information Systems, Business Policy, Human Resource Management, Innovation and Management in Education, Strategy
  • Course Fee: INR 2 to 13 lakhs
  • Average Salary: INR 3 to 60 lakhs
  • Top Recruiting Companies: HCL Infosystems Ltd., AIM Technical and Management Services Pvt. Ltd., Greytip Software Pvt. Ltd., Reliance Brands Limited, Britannia Industries Ltd., etc.
  • Job Positions: Management Executive, Relationship Manager, Financial Management Advisory, Management Representative, Logistics & Customer Service Officer, Assistant Manager (Marketing), Business Development Manager, and such.


The basic eligibility for FPM is post-graduation with 55% aggregate in MA, Msc, M.Com., M.B.A., M.C.A or M.Tech. Professional qualifications of C.A., ICWA, and C.S. with 50% aggregate marks are also considered. Professional qualifications such as MBBS and LLB with 55% aggregate marks or equivalent CGPA or engineering degree in the likes of B.Tech and B.E. with 60% aggregate marks or equivalent CGPA are also accepted. The primary entrance examination is the Common Aptitude Test (CAT), which can be substituted with the GMAT, GRE, UGC JRF, CSIR, etc. Some institutes also conduct their own entrance examinations such as IIMB Test, Xaviers Aptitude Test, etc.

Following are the top FPM Institutes in India according to the National Institutional Ranking Framework (NIRF) 2020:

NIRF Ranking Institute Name Admission Process Average Fees Starting Monthly Stipend
1. Indian Institute of Management, Ahmedabad CAT, GMAT, GRE INR 10 lakhs INR 32,800
2. Indian Institute of Management, Bangalore IIMB Test, GMAT, GRE, CAT INR 13 lakhs INR 35,000
3. Indian Institute of Management, Calcutta CAT, GMAT, GRE INR 13 lakhs INR 30,000
4. Indian Institute of Management, Lucknow CAT, GMAT, GRE INR 12 lakhs INR 25,000
7. Indian Institute of Management, Indore Research Aptitude Test (RAT) INR 10 lakhs INR 27,000

FPM, being a full-time residential course, cannot be done while pursuing any other employment or education opportunities. The average annual fee is INR 2 to INR 13 lakhs. Keep in mind that in most IIMs, the tuition fee is completely waived off and a monthly stipend is also provided for all students, which increases according to the student’s performance. All through the duration of the course is 4 years, a maximum of 5 years can be taken to complete the course. Distance learning is not an option in FPM.

The career options after FPM are mainly academic, but leaves the corporate sector open as a choice too. The Average FPM salary can be around INR 3 to 60 LPA in various sectors like Marketing Companies, Sales sector, Educational Institutes, Financial Organizations, Banks, Export Companies, etc.

why study fpm

FPM: Eligibility

FPM: Eligibility

The qualifications generally required for an FPM programme include any of the following:

  • Post-Graduate degree (or equivalent) in any stream (including M.A., M.Sc., M.Com., M.B.A., M.C.A, M.Tech) with 55% aggregate marks or equivalent CGPA
  • Professional qualifications of C.A., ICWA, and C.S. with 50% aggregate marks or equivalent CGPA
  • Professional qualifications such as MBBS and LLB with 55% aggregate marks or equivalent CGPA
  • Engineering degree in the likes of B.Tech and B.E. with 60% aggregate marks or 6.5 CGPA.
FPM Admission Process

FPM Admission Process

Generally, FPM Admission is based on the Common Aptitude Test. Most colleges have multiple areas of specializations under the FPM programme. Candidates require a valid CAT score. However, GMAT and GRE scores are also accepted if the candidate has not given CAT.

  • Some colleges, such as IIM Bangalore, also provide their own entrance test as an option for students who do not have the required valid test scores.
  • IIM Ahmedabad, as an exception, does not require any test scores, provided the candidate is a PGP Alumni of any IIM.
  • Colleges like IIM Indore conduct their own entrance test for the FPM programme.

Other examination scores that are also widely accepted include GATE, CSIR, and UGC-JRF.

Applying with a standard examination:

Most of the Indian Institutes of Management all over India use standardized tests. The steps to follow are:

  1. Online Registration: Create a login ID and password and then fill the online application form at the official website.
  2. Form Fill-Up: Enter the personal, educational, work experience, GATE/CAT/GMAT/GRE/NET score, along with the registration numbers, and upload the relevant documents.
  3. Application Fee: Pay the required application fee.
  4. Save: Once the application filling gets over, record your login credentials and take the hard copy of your application fee for future reference.
  5. Interview: Candidates will be shortlisted and called for an interview during March-April 2020 for final selection on the basis of their performance in CAT or the standard test in lieu of CAT, academic background, and experience.

Applying for a specific entrance test:

A few institutes such as IIM Bangalore, IIM Indore, and Tata Institute of Social Sciences conduct their own entrance tests for certain specializations such as the IIMB Test or the Research Aptitude Test. To apply for these examinations, the steps to be followed are:

  1. Online Registration: Students need to register providing their email id, mobile number, and password after which a login id will be created.
  2. Form Fill-up: Once the login ID is generated, candidates need to fill up the online form by giving personal and academic details. The course needs to be selected for which one wants to give the test. Also, upload all the required documents and images.
  3. Application Fee: Students need to pay the application fees using a Credit Card, Debit Card or Net Banking.
  4. Download Application Form: After successfully paying the application fee, save and download the form for the future.
  5. Issuing of Admit Card: Based on the record of details submitted, admit cards will be issued to the eligible students.
  6. Exams: After getting the admit card, exam dates are released by different conducting bodies. One needs to sit for the exam and qualify it to get an admission successfully.
  7. Group Discussions and Personal Interview: The selected candidates will then be called for personal interview rounds.
FPM: Entrance Exams

FPM: Entrance Exams

Some of the FPM entrance examinations are:

  • CAT 2020: The Common Admission Test is a computer-based test for admission conducted by the Indian Institutes of Management conducted in the 3rd week of November.
  • GATE 2020: The Graduate Aptitude Test in Engineering is an examination that primarily tests the comprehensive understanding of various undergraduate subjects, conducted by the Indian Institutes of Technology. It is accepted for a few areas of specializations.
  • GRE 2020: The GRE test is organized by Educational Testing Services across thousands of centers in 160 countries.
  • GMAT 2020: GMAT 2020 is a computer-based exam that measures verbal, quantitative and analytical concepts, conducted by the Graduate Management Admission Council
Exam Name Application Period Exam Date (Tentative) Exam Mode
CAT 2020 August 8, 2020 November 25, 2020 Online
GATE 2020 September 2020 February 2021 Online
GMAT 2020 In process To be notified later* Online
GRE 2020 All year round All year round Online 

* Due to the COVID 19 outbreak, GMAT testing has been suspended in many locations due to safety issues.

tips for FPM entrance exams

FPM Top Colleges

FPM Top Colleges

Some of the top FPM institutes according to India Today Rankings are mentioned below:

Ranking Institutes City Required Score Average Fees
1 Indian Institute of Management Bangalore 81.34 INR 13 lakhs
2 Indian Institute of Management Ahmedabad 80.61 INR 10 lakhs
3 Indian Institute of Management Kolkata 79.05 INR 13 lakhs
4 Indian Institute of Management Lucknow 67.29 INR 12 lakhs
5 Indian Institute of Management Indore 67.01 INR 10 lakhs
7 Xavier's Labour Relations Institute Jamshedpur 65.33 INR 5.5 lakhs
8 Indian Institute of Management Kozhikode 64.82 INR 9 lakhs
12 Management Development Institute Gurugram 61.89 INR 6.23 lakhs
13 Indian Institute of Management Udaipur 60.79 INR 9 lakhs

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FPM College Comparisons

The table below discusses the top FPM colleges and shows a comparison between Indian Institute of Management, Xavier's Labour Relations Institute and Indian School of Business:

Parameters Indian Institute of Management Xavier's Labour Relations Institute Indian School of Business
Location All over India Jamshedpur Hyderabad
Ranking Top 10 in India Today 7th in India Today Unranked in Management Category
Eligibility A professional qualification like CA, ICWA, CS, with at least 50 percent marks;
Bachelor's degree (10+2+4 pattern) with at least 6.5 CGPA
A Master's Degree
A Master's degree or its equivalent in any discipline with at least 55% marks;
Five years/four years Integrated Master's Degree program;
BE/B.Tech degree or its equivalent with at least 60% marks 
A Master’s or a 4 year Bachelor’s degree;
A valid GMAT / GRE / CAT / JRF score;
A TOEFL score (no more than two years old) ;
Three letters of recommendation
Admission Process IIMB Test / CAT Xaviers Aptitude Test CAT
Average Course Fees INR 9 to 13 lakhs  INR 5.5 lakhs INR 8 lakhs
Average Placement Package INR 24.54 LPA INR 24.35 LPA INR 22.14 LPA
Top Recruiting Companies Accenture, Genpact, Infosys Consulting, ITC Infotech, Sterlite Quantiphi, Goldman Sachs, JP Morgan, Bank of America, Citibank, PWC, Reliance Foundation  Boston Consulting Group, Accenture Strategy, Microsoft, Amazon, P&G, Aditya Birla Group, ITC, Avendus Capital, Standard Chartered, Capgemini ELITE, Hindustan Unilever, KPMG, PWC Reliance, Aditya Birla Group, ABP News Network Pvt. Ltd., Infosys, KPMG

FPM College Comparison: Average Fees & Placement Package

Source: College Websites

FPM Specializations

FPM Specializations

There are several types of FPM specializations. The top 5 specializations are as mentioned below:

  • Decision Sciences: It is concerned with the application of Quantitative Methods and Information Technology to business problems. Research is also conducted in developing new methodologies for specific problems.
  • Economics and Social Sciences: It deals with International Trade, Monetary Economics, Labour economics, Game Theory, and Migration, among other related concepts.
  • Entrepreneurship: It covers research that spans a wide range of theoretical perspectives in entrepreneurship, research methods and tools, and specific topics covering different contexts in which the entrepreneurship phenomenon is observed and practiced.
  • Finance and Accounting: The course influences the theories of asset pricing, financial management, and financial reporting among others.
  • Marketing: This course will focus on Business to Business Marketing, Consumer Behaviour, Retailing, Sales and Distribution management, etc.

Other FPM Specializations

Information Systems Public Policy Strategy
Productions and Operations Management Business Policy Food & Agri-business
Innovation and Management in Education Organizational Management Human Resource Management
FPM Syllabus

FPM Syllabus

The FPM syllabus is divided into the compulsory subjects and the electives subjects. A list of the compulsory subjects is tabulated below under the respective modules.

Module 1 Module 2 Module 3
Research Methodology (including SPSS) Financial Econometrics Data Collection and Dissemination: Methods and Techniques
Strategic Financial Management Security Analysis and Portfolio Management Computer Application in Qualitative and Quantitative Research
Optional Courses Optional Courses Behavioural Finance
Economics: Theory, Policy, and Applications Financial Markets, Institutes, and Governance Venture Capital and Entrepreneurial Finance
Financial and Cost Accounting Corporate Tax Planning Fixed Income Securities
Written Analysis and Communication Advanced Corporate Finance Financial Engineering
Economic Growth and Development Micro Finance Agri-Finance
Public Expenditure and Financial Administration Corporate Restructuring and Valuation Project Analysis, Evaluation, and Financing.

After completing the course work, students have to pass an Area Comprehensive Examination to demonstrate that they have reached a level of proficiency in the Area of high levels of specialization. Subsequently, students work on their Ph.D. dissertations. These dissertations are expected to make original contributions to an Area of management or to one of management's source disciplines

FPM Job Profiles and Career Prospects

FPM Job Profiles and Career Prospects

The course provides a great opportunity for people to turn their career path towards academics. In addition, it provides an open option for both corporate and academic careers. The expected qualities one derives after doing the course include:

  • The ability to plan, create strategies and ideas.
  • To be able to supervise and monitor research projects.
  • To resolve issues faced by management firms and organizations in India

They are recruited in job roles such as:

  • Management Executive
  • Relationship Manager
  • Financial Management Advisory
  • Management Representative
  • Logistics & Customer Service Officer
  • Assistant Manager (Marketing)
  • Development Manager, etc.

Popular hiring organizations for such post-graduates include:

  • HCL Infosystems Ltd.
  • AIM Technical and Management Services Pvt. Ltd.
  • Greytip Software Pvt. Ltd.
  • Reliance Brands Limited
  • Britannia Industries Ltd., etc.

FPM Job Profiles with Description

The table below provides an idea about the probable job options after completing FPM.

Job Position Description Average Annual Salary
Management Executive The responsibilities include purchasing, hiring, training, quality control, along with day-to-day supervisory duties INR 60 lakhs
Relationship Manager The duty includes dealing with individual retail customers, and assist them on various banking and financial products INR 3.4 lakhs
Financial Management Advisory Financial Management Advisories help their clients plan for their short and long-term financial goals. INR 3.02 lakhs
Management Representative They are responsible for attending to customer requirements, quality management, and for reporting to top management officials INR 5.75 lakhs

FPM Salary Trends

Source: Payscale

Popular hiring organizations for such post-graduates include:

  • HCL Infosystems Ltd.
  • AIM Technical and Management Services Pvt. Ltd.
  • Greytip Software Pvt. Ltd.
  • Reliance Brands Limited
  • Britannia Industries Ltd., etc.
FPM FAQs

FAQs

Ques. Who should do this program?

Ans. Students/professionals who want to pursue a career in advanced research and academics (including teaching) are the ideal candidates for this program. The applicant should have high scholastic ability, aptitude for research and excellent analytical skills. He/She should have enough motivation to withstand the rigour of the Fellow Program.

Ques. Do I need an MBA to pursue FPM?

Ans. Not necessary, the course work provides understanding of relevant fields of management. Different areas prefer students from diverse backgrounds to match the area requirement.

Ques. Are students allowed to take employment outside?

Ans. Students are allowed to seek employment after making their proposal presentations successfully and when they are likely to defend their final theses in the next six months. Students seeking employment prior to their final thesis defense are required to take a no objection certificate from their DAC (Dissertation Advisory Committee) Chairperson.

Ques. What is the duration and break up of the course?

Ans. The FPM is a four year full-time program. In the first two years of the program, you will undertake basic management courses. The subsequent years are dedicated to research and the completion of your doctoral dissertation. The FPM is a full-time, residential program and is not available in a part-time or distance learning format.

Ques. If I have an MBA, can I be excused from some of the course work?

Ans. If you demonstrate advanced knowledge in a particular area, you may be granted exemption from that course. Exemption requests are submitted to the course instructor and must be approved by the FPM Dean. If approved, alternative coursework may be proposed.

Ques. How do I become a strong contender?

Ans. Besides fulfilling the requirement, you should present a strong educational background (excellent grades and test scores), outstanding intellectual capabilities, creativity, ability to converse effortlessly in English, potential to engage in high quality research, a high level of motivation and drive to become a scholar in management, and strong recommendations from faculty members to support your potential for success in business academia.

Ques. I am an alumnus of IIM. Still do I need to write CAT to get into IIM for FPM?

Ans. No, those who have Post Graduate Diploma in Management (PGDM) from any IIM are exempted from writing any qualifying examination. Executive PGDM holders from IIM are also similarly exempted.

Ques. I have not given the CAT exam this year. Can I still apply?

Ans. If you have given CAT within the last three years, you can still apply. Moreover, you may also qualify through GRE, GATE, GMAT, UGC-NET/JRF, IIMB Test depending on your area of specialisation.

Ques. Is there any age limit to apply to the FPM course?

Ans. No, there is no age limit.

Ques. Are doctoral students expected to teach?

Ans. No. However, they are required to assist faculty members in their area of work, if they wish to work as research and teaching assistant (RTA), for which an additional stipend per course would be paid extra from third year.

Fellow Programme in Management [FPM] : 11 answered questions

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Ques. How good is the FPM program in IIM Kozhikode and what are the requirements to get into it?

● Top Answer By Aaditya Hari Nair on 15 Sept 21

Ans. The Fellow Programme in Management (FPM) of IIM Kozhikode is a full-time, residential program and is a financially supported doctoral program as was once initiated by the institute.  Here is a breakdown of various vital points, The program is renowned for its rigorous, interdisciplinary training mandated in every domain of business management. The FPM graduates are one of the vital sources for management researchers, along the lines of faculty resources in top-notch educational domains, industries, businesses, governments, and societal advancements.  Two-thirds of the students belonging to the FPM program are now either placed at several national and international institutes. Applicants holding an Executive PGDM from IIM Kozhikode, the applicants bearing a PGDM (full-time 2-year program) from any of the IIMs, despite their establishment, can be exempted from taking qualifying tests.  Candidates would be eligible based on their recommendations, their profile and their qualifying scores. Candidates would have to further go through a personal interview (and/or written exams) at IIM Kozhikode. Read more
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Ques. What is the Fellow Program (doctoral program) at NITIE Mumbai?

● Top Answer By Janvi Bhambri on 20 Aug 21

Ans. NITIE's Fellow program is equivalent to all IIMs, IITs, and NITs' Ph.D. programs. It is a leading source of rigorous and multidisciplinary research in all areas of industrial management, Operations & supply chain, Economics & Social Sciences, project management, Finance & Accounting, Information Systems, Marketing, and Organizational Behavior & Human Resources Management. NITIE accepts applications for the Fellow program - (a) Regular full-time candidates (b) Sponsored candidates.  Regular full-time candidates with a valid GATE scorecard/NET-JRF are eligible for financial aid from the institute.  In 1st year, you will do the coursework. A mentor will be assigned to you during the second semester of the program based on the research proposal that you submitted during the admissions process.  The majority of course works are written in such a way that they will help you in your research work. You will receive the title of Fellow of NITIE in your field of specialization after completing the program. The title is comparable to a Ph.D. degree from an approved university, according to the Association of Indian universities, the Ministry of Human Resource Development.Read more
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Ques. How is IIM Rohtak for an FPM program?

● Top Answer By Komal Chawla on 02 Aug 21

Ans. Ph.D. is a very tough course and comes with a lot of problems. The chances of completion of this course are less than 30% and require a lot of motivation and dedication. FPM, on the other hand, is completely worth your time and money. IIMs put a lot of effort and thought into their courses. They have very good expertise and provide a lot of resources to their students to offer a great quality of education to their students. If you are someone who loves to study and has a lot of interest in learning new things then you can definitely do it. You can easily go through the rigor but it will be impossible for an average student who is not very talented or brilliant at academics. IIM Rohtak is a very good institute for an FPM program that provides a lot of facilities and resources to its students and as this course is very difficult so you must put in a lot of effort and hard work to successfully complete the course.Read more
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Ques. How good is doing FPM in IIM-Rohtak? What are the the future prospects? Is there any scope to work for MNCs after doing this course?

● Top Answer By Admin on 02 Aug 21

Ans. My cousin is in his sophomore year, pursuing FPM at IIM Rohtak, and here is what he has to say about the course. Course structure: In the very beginning of your first year, you will have to attend the classes with the students from PGP. From the second year onwards, you will attend classes that are a fair mix of several PGP classes and a few subjects of your own preference. The only point of difference both the scenarios share is that in a class with the PGP students, you will have to sit with at least 50 students, while if you are in the FPM class alone, there will be about 5 other students at a maximum.The second-year usually is packed with submissions of certain mini-thesis papers and a comprehensive viva, following which you are transported on to research. The duration provided can be of 2 years or more. Faculty: The faculty at the institute are supportive and experienced. Every student secures a hand of support whenever required and obtains guidance from the very beginning of the first year. You can change your guide, from the second year, as per your choice. Campus: The main campus is yet under establishment.IIM Rohtak, at present, is operating from Maharishi Dayanand University. Other than that, the rooms you can avail of, have sharing policies and do not support family accommodation. Career Exposure: Following your studies, you can either go on to become a researcher or an academician. According to the recent placement highlights the average CTC offered at the institute is around 13 LPA. You can check the detailed placement stats of the institute, on the official website. Here is a detailed outlook of the institute. Hope this helps you understand better.Read more
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Ques. How is the FPM program at IIM Rohtak? Did any student leave it after the first year itself?

● Top Answer By Shilpa Nayak on 31 Jul 21

Ans. My cousin recently joined the institute and has seen students frequently vacate the FPM program of IIM Rohtak. There can be several reasons for this. However, it is somewhat unlikely and vague as well. Especially, when considering the issues concerning the director, as is known by the students. Nobody can vouch for the scenario taking place at the institute. Thus, it is always the right choice to analyze what you are going for. It is suggested to stay updated with any information at all.Read more
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Fellow Programme in Management [FPM] Fee Structure in India


39 K (Minimum Fee)PUBLIC COLLEGES2.08 L  (Maximum Fee)
1.24 L (Average Fee)
38 K (Minimum Fee)Private COLLEGES6.37 L (Maximum Fee)
3.39 L (Average Fee)

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