Choosing between Indian Institute of Technology (IIT) and a National Institute of Technology (NIT), can be a complete dilemma for an engineering aspirant. However, no matter which institute you are pursuing your B.Tech degree, your complete amount of money spent on the program will be recovered within 3 to 6 months of salary earned during the first year after graduation. Whether candidates are choosing top names in IITs such as IIT Madras, IIT Delhi or IIT Delhi, or going for NITs such as NIT Trichy, NIT Surathakal or Rourkela, the average placement package offered by recruiters in these institutes may help you recover your fees. These colleges offer high return on investment and are credible in offering engineering education along with industry driven skills.
The prestigious engineering institutes charge affordable tuition fees and hostel charges. While the graduates earn decent salaries in the beginning of their careers to pay back what they have invested for their education. In this article, aspirants aiming for B.Tech degree can find a comprehensive comparison between IITs and NITs of India to help determine which will be the best option for your career. This includes factors like fees charged by each institute, median package offered with an estimated time to recover your fee while working.
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Top 10 IITs: B.Tech ROI & Fee Recovery
As per the data provided below, aspirants can check the recovery period for four years' tuition costs is quite quick for IIT graduates. With an average period of 5.6 to 9.5 months, having a very good median placement package that exceeds the cost for completing the courses.
The recovery period is quickest at IIT (BHU) Varanasi at 5.6 months owing to its cheap fee structure and excellent median package of 20 LPA, whereas it is longest at IIT Madras, which stands at 9.5 months.
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|
NIRF Rank
|
Institution
|
Total 4-Year Fee (Approx.)
|
Median Package
|
Estimated Fee Recovery Period
|
|
1
|
IIT Madras
|
10.71 - 16.91 lakh
|
17.50 LPA
|
9.5 months
|
|
2
|
IIT Delhi
|
11.74 lakh
|
19.08 LPA
|
7.4 months
|
|
3
|
IIT Bombay
|
11.96 - 14.87 lakh
|
19.61 LPA
|
8.2 months
|
|
4
|
IIT Kanpur
|
9.19 - 11.41 lakh
|
19.40 LPA
|
6.4 months
|
|
5
|
IIT Kharagpur
|
8.50 - 14.73 lakh
|
19.76 LPA
|
7.1 months
|
|
6
|
IIT Roorkee
|
11.33 - 14.25 lakh
|
17.00 LPA
|
9.0 months
|
|
7
|
IIT Hyderabad
|
12.11 lakh
|
21.00 LPA
|
6.9 months
|
|
8
|
IIT Guwahati
|
11.46 lakh
|
19.48 LPA
|
7.1 months
|
|
10
|
IIT (BHU) Varanasi
|
8.36 - 10.41 lakh
|
20.00 LPA
|
5.6 months
|
|
12
|
IIT Indore
|
11.09 - 13.87 lakh
|
19.48 LPA
|
7.7 months
|
Top 10 NITs: B.Tech ROI & Fee Recovery
From the given data, it can be seen that Top NIT students also recover their fees quickly, taking only 5.3 to 11.8 months to pay back the four years’ tuition fees. NIT Warangal has the shortest period of recovery at 5.3 months, owing to its high median package salary of 14.20 LPA while having a lower total fee of 6.29 lakhs. NIT Surathkal and NIT Trichy are two other examples of top institutes with quick recovery periods of less than six months. At even the institutes which take longer to recover the fees like NIT Patna (11.8 months) and MNIT Jaipur (10.6 months), the graduates easily recover their costs in less than a year.
|
NIRF Rank
|
Institution
|
Total 4-Year Fee (Approx.)
|
Median Package
|
Estimated Fee Recovery Period
|
|
9
|
NIT Trichy
|
7.24 lakh
|
14.35 LPA
|
6.1 months
|
|
13
|
NIT Rourkela
|
9.20 - 11.43 lakh
|
15.25 LPA
|
8.1 months
|
|
17
|
NIT Surathkal
|
6.76 lakh
|
14.00 LPA
|
5.8 months
|
|
21
|
NIT Calicut
|
6.63 - 8.14 lakh
|
12.25 LPA
|
7.2 months
|
|
28
|
NIT Warangal
|
6.29 lakh
|
14.20 LPA
|
5.3 months
|
|
42
|
MNIT Jaipur
|
9.75 lakh
|
11.00 LPA
|
10.6 months
|
|
44
|
VNIT Nagpur
|
5.58 - 5.65 lakh
|
9.00 LPA
|
7.5 months
|
|
49
|
NIT Durgapur
|
7.45 - 9.27 lakh
|
11.24 LPA
|
8.9 months
|
|
50
|
NIT Silchar
|
8.21 lakh
|
11.00 LPA
|
9.0 months
|
|
53
|
NIT Patna
|
6.12 - 7.70 lakh
|
7.00 LPA
|
11.8 months
|
Therefore, IITs as well as NITs are excellent monetary investments for engineers. This is due to the fact that the good placement package they offer far outweighs any four-year education cost that could be quite low or moderate. It means that one can recoup the total cost of his or her education within just a year of joining the workforce.
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How do you calculate the fee recovery period?
The calculation of the fee recovery period involves taking the sum of the 4-year tuition fees and institutional fees and then dividing them by the median monthly salary of the graduate.
Does the hostel and living expenses affect the fee recovery period?
Yes, the inclusion of hostel, mess, and other living expenses would slightly add to the total amount of money invested and increase the total fee recovery period by about 2-4 months.