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Fellow Programme in Management (FPM): Course, Institutes, Syllabus, IIM, Jobs, Scope, 2023

The FPM course, or the Fellow Program in Management, is a 4 year long 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.

See More: Full Form of Management Courses

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.

What is FPM?

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 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 2023 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 to provide 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: 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: Entrance Exams

Some of the FPM entrance examinations are:

Entrance Exam Registration Date Exam Dates
ATMA 1st week of June 2023 July 23, 2023
CAT August 3, 2023 November 26, 2023
CMAT February 13, 2023 To be Announced
GMAT To be Announced To be Announced
NMAT September 2023 November 2023
SNAP 2nd week of August 2023 2nd week of December 2023
XAT To be Announced To be Announced
Entrance exams

FPM Top Colleges

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

Institutes City Average Fees
Indian Institute of Management Bangalore INR 13 lakhs
Indian Institute of Management Ahmedabad INR 10 lakhs
Indian Institute of Management Kolkata INR 13 lakhs
Indian Institute of Management Lucknow INR 12 lakhs
Indian Institute of Management Indore INR 10 lakhs
Xavier's Labour Relations Institute Jamshedpur INR 5.5 lakhs
Indian Institute of Management Kozhikode INR 9 lakhs
Management Development Institute Gurugram INR 6.23 lakhs
Indian Institute of Management Udaipur INR 9 lakhs

Also Check:

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

IIM Fellow Programme in Management 

FPM or Fellow Programme in Management is a residential doctoral full-time programme. The course offers studies in various fields of management along with some functional areas. 

The significant motive of the program is to train prospective scholars and help them to become innovative and skilled researchers, and train them to teach in various fields of management. IIMs are the best educational institutes to provide management programs and are situated all over the country in various states. Check out the FPM program available in various IIMs.

Indian Institute of Management, Ahmedabad

Indian Institute of Management, Ahmedabad is arguably the best IIM in India. The institute has been consistently ranked by the NIRF at the number one position. The college offers the FPM course, where the candidates must be eligible to pursue it.

For entry, a minimum of master's of PG Diploma degree is needed. Candidates having either CA/ICWA/CS qualifications with at least 55% aggregate scores and aspirants having a Btech or a four year degree with a CGPA of 6.5 are also eligible to apply. The average fee for the course in this institute is INR 10 lakhs.

Indian Institute of Management, Kolkata 

IIM Calcutta is one of the most renowned as well as the oldest IIM in India. It also consists of the FPM program and offers a total of 9 specializations in this course. It is a full-time degree course offering the students with advanced research and studies in different fields of management.

The eligibility criteria for pursuing the FPM degree at IIM Calcutta is completing your post graduation with a minimum of 60% aggregate marks. Also ICWA, CS or CA degree holders can apply. The average fee for pursuing the degree at IIM Calcutta is INR 27 lakhs.

Indian Institute of Management, Bangalore 

Indian Institute of Management or IIM Bangalore is also among the top-ranking IIMs of India. To be eligible for this program at IIMB, candidates have to either gain a master’s degree or a 5 year integrated masters degree with a minimum of 55% aggregate bachelor and master's marks. 

Also, candidates having a professional qualification in, ICWA, CA, CS, with 50% scores are eligible to apply. The average fees for pursuing the FPM program at IIM Bangalore, is INR 13 lakhs.

Indian Institute of Management, Lucknow 

Indian Institute of Management, or IIM Lucknow, also comes at the top and is also famous for offering the FPM course. To get eligible for this course, candidates need to have a masters degree with a minimum of 55% aggregate scores. Also, candidates having a CA/ICWA or CS degree will be eligible to apply.

Candidates have to crack the entrance exam at first, and then come through the PI round to get finally selected. The entrance exams accepted for the exams are CAT/ GATE/ GRE/ GMAT/ JRF/ SRF(UGC/CSIR/ICAR).

Indian Institute of Management, Indore 

Indian Institute of Management or IIM Indore also offers a Fellow Programme of Management. Candidates seeking admission to this course need to crack the entrance exams for MBA, and will be finally selected via the PI round. The total intake for the FPM course at IIM Indore is 30.

The institute offers a total of 8 different specializations for this program. The eligibility criteria for this course in IIT Indore is gaining a masters degree in the relevant stream with 60% aggregate scores. Also, candidates having a ICWA or CS or CA degree with a minimum of 50% scores are eligible to apply. The total fee for this course here is INR 50,000.

Indian Institute of Management, Rohtak 

Indian Institute of Management, or IIM Rohtak, is also among the top ranking IIMs of India. FPM at IIM Rohtak is a part-time distance education degree course. The tuition fees for FPM at this institute is INR 220,000, whereas, the average fee for the course is INR 6.50 lakhs.

Eligibility to this program requires a master's degree with a minimum of 55% aggregate marks from a recognised educational institute. Also, ICWA, CS or CA degree holders with a minimum of 50% aggregate marks are eligible to apply. The entrance exams accepted by this college are CAT, GRE, GATE, UGC-NET and GMAT.

Indian Institute of Management, Udaipur 

IIM Udaipur is also one of the best IIMs, especially in offering the FPM programme. It is an on-campus degree course, which generally lasts for 3 to 5 years. 

The eligibility for FPM at IIM Udaipur remains the same as the other IIMs, i.e., securing a minimum of 60% aggregate marks at post graduation. And also individuals with CS, CA or ICWA degrees can apply. Valid RAT/ GMAT / CAT/ GRE / JRF scores are accepted here for this program.

Indian Institute of Management, Kashipur 

Candidates can also take their FPM degree from IIM Kashipur. It is situated in Uttarakhand and offers a total of 8 different specializations for the course. It is a full-time on-campus program, which generally lasts for 3 years. The maximum time given to complete the program is 6 years. 

The eligibility for this IIM also remains the same, as candidates need to hold a master degree with 60% aggregate marks or they need to have either a ICWA, or CS or CA degree. The entrance exams accepted by this educational institute are CAT, GATE, GRE, GMAT, and IIMB.

Indian Institute of Management, Tiruchirappalli 

IIM Tiruchirappalli is also among the renowned IIMs of India. The FPM program in this institute lasts for 4 years, where candidates can access several specializations. The eligibility criteria for pursuing the course in this institute is gaining 50% and 60% graduation marks in bachelors and masters degree respectively. 

Also, ICWS, CS and CA degree holders can apply. The entrance exams accepted for this institute are NET/UGC-JRF/CAT/GMAT. Candidates can access the program here via these exams, The total fee for the FPM program at IIM Tiruchirappalli is INR 1 lakh.

Indian Institute of Management Kozhikode 

One of the greatests Indian Institute of Management is IIM Kozhikode. Candidates can access here a total of 8 different specializations. Candidates having either a master degree or a PG diploma with a minimum of 55% aggregate scores are eligible to apply. Also, degree holders of ICWS, CA and CS can do the same.

The entrance exams which candidates can sit for to get admission to this course at IIM Kozhikode, are GMAT, CAT, GRE and IIMB. Final selection of the candidates will be done via seeing their performance in the PI round. The average fees for FPM at IIM Kozhikode is INR 9.5 lakhs.

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

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 Jobs

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.

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.


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] Fee Structure in India

1.85 L (Minimum Fee)PUBLIC COLLEGES6 L  (Maximum Fee)
3.34 L (Average Fee)
27.50 K (Minimum Fee)Private COLLEGES18.25 L (Maximum Fee)
4.46 L (Average Fee)

Fellow Programme in Management [FPM] Fee Structure By state

Uttar Pradesh

6 L
86.50 KPrivate COLLEGES5.49 L
3.95 L


2.08 L
27.50 KPrivate COLLEGES27.50 K
27.50 K


1.85 L
6.15 LPrivate COLLEGES6.15 L
6.15 L


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