FPM (Fellowship Programme in Management)

Updated on Oct 7, 2022 03:58 IST
Vipra Shrivastava

Vipra ShrivastavaSenior Manager - Content

Fellow Programme in Management or FPM is a doctoral programme, which offers studies in various fields of business and management. Offered by the Indian Institute of Management and other top B-schools, FPM is a four-year residential programme that aims to train participants for research and teaching. Candidates who plan to make a career as teachers/lecturers or make a career in the research field mainly pursue the FPM.

The FPM course is open for postgraduate students who have a good academic record along with a good score in entrance exams like CAT/GMAT/GRE/UGC-NET/GATE/CSIR. Seats are offered based on the candidate’s academic profile, entrance exam score, group discussion, personal interview and work experience (in some institutes).

What is FPM?

FPM programme is of four years divided into two stages. The first stage consists of the first two years in which the candidate is exposed to the basic disciplines of management to build a solid base for thesis. In the last two years, the candidate chooses a topic for his/her thesis and is placed under the guidance of a faculty member or advisory committee. For thesis, candidates can choose topics from Economics, Finance, Human Resource Management, Public Policy, Information Systems, Marketing, Organisational Behaviour, Production, Operations, Strategic Management, Decision Science, etc.

Fellowship students are offered a monthly fellowship of a certain amount along with fee waiver throughout their four years of the course. In the third year, the candidates also get the option to start working as research/training assistants for which they are paid extra amount.

FPM Eligibility Criteria

  • For FPM, the candidate must have a Master's degree or its equivalent in any discipline with at least 55 per cent marks in aggregate (50 per cent for SC/ST candidates).
  • In Graduation or equivalent, the candidate must have scored east 60 per cent marks in aggregate (55 per cent for SC/ST candidates).
  • Candidate with five/four-year Integrated Master's degree programme in any discipline, with at least 55 per cent marks in aggregate (50 per cent for SC/ST candidates), obtained after completing higher secondary schooling (10+2) or equivalent can also apply for FPM.
  • Candidate with BE/BTech degree or its equivalent with at least 60 per cent marks in aggregate (50 per cent for SC/ST candidates) with two years of relevant work experience are also eligible to apply.

Fellow Programme in Management: Required Skillset

Any candidate who plans to pursue Fellow Programme in Management must not only be a post-graduate in the desired stream/course, but also possess the aptitude for four years of rigorous work. Some of the qualities are given below:

FPM Required Skillset

Logical and analytical skills

Time management skills

Sound managerial skills

Innovative thinking

Strong in mathematics

Flexibility and openness to new ideas

Good communication skills

Ability to work under pressure

Top MBA Colleges in India Offering FPM

FPM course is offered by all the top IIMs including IIM Ahmedabad, IIM Bangalore, IIM Calcutta, IM Lucknow, IIM Kozhikode and IIM Indore. Some of the top non-IIMs offering FPM programme are listed below:

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FPM Syllabus

The syllabus of FPM programme broadly includes the following topics.

Module 1 Module 2 Module 3

Compulsory courses

Compulsory courses

Compulsory courses

Research Methodology

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


Public Expenditure and Financial Administration


Corporate Restructuring and Valuation

Project Analysis, Evaluation and Financing


International Finance

FPM Job Profiles and Recruiters

Besides lecturership and research candidates opting for FPM can also go for private jobs at senior managerial levels. Popular job profiles available for FPM are Management Executive, Relationship Manager, Financial Management Advisor, Management Representative, Project Manager, Development Manager, etc. On successful completion of the programme, candidates are placed in various national and international universities and institutions.

Top recruiters include HDFC Bank, HCL, Greytip Software, Britannia Industries, Reliance Brands Limited, AIM Technical and Management Services Pvt. Ltd.

FAQs Regarding FPM

Q: For whom is an FPM program suitable?

A: FPM is suitable for those management students or professionals with a Master's degree who is interested to pursue research in management concepts. They should aim for either a career in academics or a job that requires the application of management concepts such as policymaking, consulting, etc.  

Q: Is it mandatory to have prior work experience to pursue FPM?

A: It is not mandatory to have prior work experience for FPM since the programme is research-oriented. However, having prior work experience would add value to candidature. 

Q: Is there any age limit to pursue FPM?

A: Generally, there is no age limit for the candidates applying for the FPM programme. However, some institutes have the age limit factor in their admission criteria, which ranges from 50 to 55 years of age. 

Q: Would I receive a stipend while pursuing FPM?

A: Yes, FPM students do receive stipends or contingency grants during their course duration. The amount varies from institute to institute. On average, the stipend amount ranges from INR 25,000 to INR 35,000 per month.

Q: Do B-schools provide scholarship for pursuing FPM?

A: Yes, a number of B-schools provide scholarship to meritorious candidates or those having a strong or exceptional profile. The scholarship criteria may vary from institute to institute.

Q: What is the admission process for FPM?

A: Candidates have to apply for the program through one of the entrance exams such as CAT, GMAT, GRE, UGC-NET, GATE, CSIR. Upon getting shortlisted based on the exam scores and profile, candidates have to appear for Personal Interview rounds at the B-schools. Apart from that majority of the B-schools consider a Statement of Purpose (SoP) and Letters of Recommendation (LoR), preferably from academicians with whom the candidate has either studied or worked before.

Q: How is FPM different from the other postgraduate management programs?

A: The nature of FPM is much more rigorous as compared to the MBA/PGDM or Executive MBA programmes. The duration of FPM is four years and the curriculum is research-oriented. Initially, the curriculum would be similar to that of an MBA followed by which the research-oriented curriculum will begin. The students would have to submit dissertations and have regular sessions with their guides or faculty members and even defend their research, which includes data crunching and analytical reasoning.

Q: Is there any option to pursue FPM in an online mode?

A: No. FPM is a full-time residential program. There is no provision to pursue the programme in an online mode simultaneously with career or other academic commitments.

Q: What are the career options after completing FPM?

A: After completing FPM, the most popular career choice is to opt for an academic career. The graduated Fellows either join top institutes as faculty members, management researchers or work as management consultants, CXOs, Analytics Expert or the various sectors of the Government.

Q: Which are the top B-schools in India offering FPM?

A: When it comes to FPM, the best B-schools in India are the IIMs, ISB Hyderabad and Mohali, XLRI Jamshedpur, FMS Delhi, MDI Gurgaon and Goa Institute of Management to name a few.

Q: Do B-schools conduct placement process for the FPM students?

 A: Yes, top B-schools do conduct the placement process for the FPM students in the final year. The participating recruiters include management institutes, banks and financial institutes, consultancy firms, etc.

Popular FPM (Fellowship Programme in Management) Colleges in India

Following are the most popular FPM (Fellowship Programme in Management) Colleges in India. Learn more about these FPM (Fellowship Programme in Management) colleges (Courses, Reviews, Answers & more) by downloading the Brochure.
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Popular Private FPM (Fellowship Programme in Management) Colleges in India

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Popular FPM (Fellowship Programme in Management) Specializations in India

Following are the most popular FPM (Fellowship Programme in Management) Specializations . You can explore the top Colleges offering these Specializations by clicking the links below.

Popular Specializations


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