FPM or Fellow Programme in Management is a 4 years full-time, residential Doctoral level (Ph.D.) program. This program trains aspirants to become highly skilled and innovative researchers and teachers in various aspects of management. It mainly focuses on preparing students for careers as faculty members at premier academic institutions.
The basic eligibility for applying in FPM is to have a post-graduate degree or equivalent in any discipline (including MA, Msc, M.Com., M.B.A., M.C.A or M.Tech) with at least 55% marks or equivalent CGPA. Before taking admission the aspirants have to go through entrance exams. The scores of the entrance exams accepted for the course are CAT, GMAT, GRE, UGC JRF, RAT, XAT, IIMB Test, etc. Check: Related Courses
FPM is offered by various famous institutes all over India and usually by the IIMs. The top FPM Institutes in India are:
- 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
FPM Course Structure
After joining the FPM course, the students have to go through a course work phase fore the first two years. The students are required to complete atleast 90 credits before being inducted into the research phase after passing the Comprehensive Qualifying Examination (CQE).
During the first year, the program offers courses covering various disciplines exposing the students to different facets of business management. Students are provided with the option of choosing electives from a pool of specialized courses during the second year. The elective courses are designed to nurture future managers in the area of their interests, aligning them with their career goals and objectives.
The FPM can be divided into three stages:
Stage 1: Coursework
- Coursework break-up:
| Foundation Courses | 32 credits to be completed in the first six months of the coursework |
| PGP Courses | 12 credits (can be completed anytime during the course work) |
| FPM Compulsory Courses | 18 credits (to be completed during the course work period as scheduled by the FPM office) |
| FPM Area / Related area | Up to 44 credits from area and related area courses |
- Coursework duration: 15 months
| Term | Duration | Contents |
|---|---|---|
| Term I | 6 months | Foundation courses (32 credits), FPM Compulsory courses (6 credits), PGP-I courses (8-12 credits) |
| Term II | 3 months | PGP courses (0-4 credits), FPM Compulsory, Area and Related area courses |
| Term III | 3 months | PGP courses (0-4 credits), FPM Compulsory, Area and Related area courses |
| Term IV | 3 months | PGP courses (0-4 credits), FPM Compulsory, Area and Related area courses |
- Total 104-106 Credits
Stage 2: Comprehensive Examination
After the completion of the course work, the students take the area comprehensive examination. The comprehensive examination tests whether the student has obtained a satisfactory level of knowledge in his/her field of specialization and whether he/she has satisfactorily integrated the various courses taken in the area.
Stage 3: Thesis and dissertation
After clearing the comprehensive examination, the students enters the thesis stage where each participant will be advised by a Thesis Advisory Committee (comprising 3 or 4 faculty members). The participant first develops a thesis proposal, for which he/she identifies a thesis topic. After the approval of the thesis proposal the participant works closely with the TAC on his/her thesis. On completion of the thesis research, the participant gives a public seminar, submits the thesis and defends the same.
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. |
FPM Entrance Exam Books
Given below is a list of the books to read for FPM entrance exams:
| Cost Accounting- A Managerial Emphasis | Horngren, Datar, Foster, Rajan, Iitner |
| Organizational Behavior | Robbins, S.P., Judge, T.A., Sanghi |
| Cost Accounting | Arora, M. N |
| Management Accounting | M.Y.Khan and P.K.Jain |
| Fundamentals of Managerial Economics | Hirschey, Mark |
| Statistics for Business | Robert Stine and D Foster |
| Management and Organizational Behavior | Pierce, J.L. & Gardner, D.G |
The career options after FPM are mainly academic based, 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.
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