The FPM or Fellowship Program in Management course offered at the IIMs is simlar to PhD courses offered at various other institutions. Students who have completed their MBA or PGDM course are eligible to apply for this course. In terms of quality, there is no denying the popularity of the course. The FPM program provided by IIM-B is ranked amongst the top 50 in the world the Financial Times. Just like any other PhD course, the FPM course requires students to prepare and present a viable research thesis.