You are here: Home » Management » News » B-school
Business Standard

7th Pay Commission woes: B-Schools weigh funding options to bear additional costs

IIM Calcutta is open to varied ways of raising funds, including increasing the number of executive training programmes and alumni endowments

Nirmalya Behera & Vinay Umarji  |  Bhubaneswar/ Ahmedabad 

With the implementation of the 7th Pay Commission recommendations set to bring in additional cost on salaries and pensions, top B-schools are weighing options to bear the same.

From hiking fees to increasing executive education programmes, B-schools including the Indian Institutes of Management (IIMs) are looking at ways to raise funds to match the salaries of faculties and staff in line with the pay panel recommendations. However, IIMs feel the real impact of the 7th Pay Commission implementation cannot be gauged immediately. "Faculty salaries are not determined unless the UGC Pay ...

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, August 04 2016. 17:02 IST