Fellow Programme in Management (FPM) Full Form, Course, Institutes, Syllabus, Jobs, Scope 2021-2022

Lubaba Shaheen's profile photo

Lubaba Shaheen

Content Writer

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.

Note: Students who wish to pursue their education in Management field or get a career boost, can check MBA course.

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

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

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.


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] : 4 answered questions


Ques. What is the cost of doing FPM in ISB Hyderabad?

● Top Answer By Keshav Jindal on 26 Mar 21

Ans. It is to be cleared first that the FPM course is completely equivalent to a Ph.D degree. It takes approximately 4-5 years to complete, along with accurate learning and research work. The fact is that ISB generally pays Rs. 40000 as a stipend along with House Allowances to the candidates who are doing FPM on a full-time basis. Thereby you are not required to pay anything from their own pocket, but they can earn 40 thousand per month. However, the most important thing is that FPM requires accuracy to complete the study without spending money. So, you have to study with full accuracy, and earn support from this institute to carry on your personal and family expenses. You have to enroll as a full-time candidate and should not have any other source of income.  If you have any other second income, then it will not work. After completing this program, the student will get unlimited rewards, considering their knowledge and income.Read more
1 Answer

Ques. Is Amity University Noida good for part-time PhD in Management?

● Top Answer By Vikas Hariharan on 23 Feb 21

Ans. One of my friends suggested that nothing is bad in Amity University Noida. Especially talking about the management specialization in this college, it is much better over here. For a full time PhD in Management you can surely opt for it at Amity.  You can also choose part time PhD but they mention that in the certificate too. Because of this the students choose to do part time PhD from other private universities as after completing the PhD for 4 years when a student gets a tag like that then it may create a bad impression for the candidature of the student. This information is also not mentioned by them in the website and at their advertisements for PhD programs. But Amity being a good college you will get a lot of opportunities over there and if you are smart enough then you will definitely be able to make your career on that. Since the faculties are very good, you will definitely get good support from them in your research work and with your talent and hard work you will definitely be able to reach your goal. If you are looking for better options then you should prepare for UGC NET. After completing UGC NET exam you will definitely apply for PHD in government colleges. Since this examination is conducted 2 times in a year you have a better chance and time for preparation as well. And after completing PhD from government colleges you will be having more chances in getting a job at Government College. But since this is a competition, anything can happen so people choose private universities for PhD programs. If you want to do a PhD program from Amity then you should always choose for a full time PhD program or if you want to do a PhD as part time then you can choose any other private university.Read more
1 Answer

Ques. How can an IPM student get admission for FPM at IIMA?

● Top Answer By Neha Uniyal on 19 Feb 21

Ans. FPM programs at some of the older IIMS are quite rigorous and you could essentially compare them with other programs globally. It is believed they are better than most PhDs at Indian universities. But, you will definitely find better options than only IIM Ahmedabad. The admission process is quite tough. You will be expected to have really competitive scores in CAT or GMAT with an aptitude for research. Additionally, you will also have to apply to concentrated areas like finance and marketing. The interviews are also quite tough and they will test you on the basis of aptitude, prior publications, knowledge including both empirical and theoretical data as well as the consistency of your academic scores. Questions are asked from anywhere on the topic of your interest. You have to prove that you have a good command of theories and facts, a good ability to connect data and to apply theoretic reductions, and at the same time, be precise and complete. You need to first and foremost have a post-graduate degree with at least 55% aggregate. This degree could be MA, MSc, M. Com, M.C.A or even MBBS. You can even substitute giving the CAT with GMAT, UGC, GRE JRF, and CSIR. Be ready to pay an average fee of INR 10 lakhs at least. The starting monthly stipend is INR 32,800. It probably should help you recover some part of the fee you are paying. What is good is that if you are a PGP from any IIM, you are likely to receive a CAT score waiver.Read more
1 Answer

Ques. How is the FPM program of IIM Rohtak?

● Top Answer By Deepika Kunwar on 04 Nov 20

Ans. Indian Institute of Management Rohtak is among the top B-schools in the country. IIM Rohtak has been ranked 21st by NIRF 2020. The Institute offers various programs that include 2 PG programs, 2 Fellowship programs, and various executive training programs. IIM Rohtak offers a part-time, non-residential fellowship program in management. FPM is specifically designed for working professionals who want to pursue research in management. The grand total fees for completing FPM at IIM Rohtak is INR 6 lacs. Admissions: For admissions in FPM, the requirements include having a PG degree or equivalent in any discipline with at least 55% marks or equivalent CGPA. Alternatively, The applicant may also have a four-year bachelor's degree with at least 6.5 CGPA or equivalent. The candidates need to have a valid score in CAT/GMAT/GRE/GATE. The candidates need to appear for the Research Aptitude Test conducted by IIM Rohtak. Admission to FPM courses is based on academic qualifications, performance in management exams, personal interviews, and work experience. The application fee is INR. 1000/-. Scholarships: IIM Rohtak offers fellowship to the participants of FPM. For the first two years, students are given INR 30,000 and for the next two years an amount of INR 35,000 is provided. A contingency grant of INR 1,85,000 is given to all students distributed across all four years of the program. Students who have participated in the national level or international level of any sports can also apply for Sports Scholarships.   Placement: Indian Institute of Management Rohtak had achieved a 100% placement record for the batch of 2018-20. 86 recruitment companies visited the campus. The highest salary offered was 24 LPA and the average salary offered was 13 LPA. The IT industry had the most number of placement offers. IIM Rohtak had also witnessed 100% placement for summer internships. The major recruitment companies included Amazon, Bain capability network, Lenskart, Infosys, etc. The course is diverse and brings in plenty of opportunities. The above-mentioned facts will help the student to guide and take the decision about attending IIM Rohtak for an FPM.Read more
1 Answer

Fellow Programme in Management [FPM] Fee Structure in India

2.08 L (Minimum Fee)PUBLIC COLLEGES2.08 L  (Maximum Fee)
2.08 L (Average Fee)
27.50 K (Minimum Fee)Private COLLEGES6 L (Maximum Fee)
2.69 L (Average Fee)