Introduction – Top MBA colleges in India
When we think of top MBA colleges in India, generally, the IIMs come to our minds. With time, the scenario has changed, and numerous other MBA colleges have made it to the list of top MBA colleges in India in 2023. The top MBA colleges in India include the Indian Institutes of Management (IIMs), XLRI, ISB, IIT, SPJIMR, FMS Delhi University, MDI, IMT, and many more. The list of the top 100 MBA colleges is included in this article.
If you’re looking to pursue an MBA in India, the vast amount of online information can be confusing and overwhelming. To help you choose wisely, we’ve compiled a table of the top 100 business schools, covering programs, fees, entrance exams, NIRF rankings, and average post-MBA salaries.
In this article, we also give you a brief overview of the top 10 Business schools in India and will answer the below Questions:
- What are the eligibility criteria for admission to the top MBA colleges in India?
- What is the admission process of the top MBA colleges in India?
- What is the fee structure of the top MBA colleges in India?
- What kind of job placements do the top MBA colleges in India provide?
Before we move forward, let’s address the most frequently asked question
Which MBA college has the highest average salary/package?
IIM Calcutta had the highest average salary, while ISB (Indian School of Business) followed closely behind. Below is a list of the top 10 colleges based on their average salary.
|Top MBA colleges in India 2023||Average Salary|
|IIM Calcutta||INR 34,20,000|
|ISB (Indian School of Business)*||INR 34,08,000|
|IIM Bangalore||INR 33,82,000|
|IIM Ahmedabad||INR 33,81,865|
|FMS Delhi**||INR 32,40,000|
|SPJIMR Mumbai||INR 32,05,000|
|IIM Lucknow||INR 31,03,000|
|XLRI Xavier School of Management||INR 30,70,000|
|IIM Indore||INR 25,01,000|
|MDI Gurgaon – Management Development Institute||INR 23,80,000|
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Note: The average salaries have been taken from the placement reports for the class of 2020-22 of the respective colleges.
- Introduction – Top MBA colleges in India
- What should be your target GMAT score?
- MBA Rankings in India 2023 (Top MBA colleges ranked till #100)
- Top 10 MBA Colleges in India 2023- A brief overview
- Top MBA colleges in India – FAQs
What should be your target GMAT score?
Most top-ranked MBA colleges require a high GMAT score. Therefore, it’s important to set a realistic target score that aligns with your goals and abilities. To help you with this, we’ve created a quick and easy quiz that will provide you with personalized recommendations on what your target GMAT score should be. So, take a few minutes to complete the quiz and gain valuable insights that will help you achieve success on the GMAT!
MBA Rankings in India 2023 (Top MBA colleges ranked till #100)
We have ranked the top MBA colleges in India based on the post-MBA salary. The top MBA colleges in India include the Indian Institutes of Management (IIM), XLRI, ISB, IIT, SPJIMR, FMS Delhi University, MDI, IMT, and many more. Here is the list of the top 100 MBA colleges in India in 2023:
|Sr.no||NIRF 2022 Ranking||Top MBA Colleges in India||Location||Program||Average/Mean/Median Salary (INR)||Fees(Domestic)||Accepted Exam|
|2||NA||Indian School of Business (ISB)||Hyderabad||PGP||34,08,000||41,98,000||GMAT/GRE|
|8||8||XLRI Xavier School of Management||Jamshedpur||PGDM (Business Management)||30,70,000||23,60,000||XAT/GMAT/CAT|
|11||11||IIT Bombay – Shailesh J Mehta School of Management Mumbai||Mumbai||MBA||25,90,000||9,06,400||CAT|
|12||24||Indian Institute of Foreign Trade (IIFT Delhi)||Delhi||MBA in International Business||25,16,000||21,77,314||IIFT/ GMAT|
|14||13||MDI Gurgoan – Management Development Institute||Gurugram||PGDM||23,80,000||28,16,200||CAT/GMAT|
|16||25||Pravin Dalal School of Entrepreneurship and Family business Management (NMIMS)||Mumbai||MBA||23,07,000||17,50,000||NMAT/GRE/GMAT|
|17||9||National Institute of Industrial Engineering||Mumbai||PGDM||22,00,000||14,63,000||CAT|
|18||4||DMS IIT Delhi||New Delhi||MBA||21,90,000||10,40,000||CAT|
|19||17||Symbiosis Institute of Business Management||Pune||SIBM||20,80,000||21,27,950||SNAP|
|24||35||Xavier Institute of Management||Bhubaneswar||MBA-BM||17,54,000||19,90,000||XAT/GMAT/CAT/x-GMAT/NMAT|
|27||10||DoMS IIT Madras||Chennai||MBA||16,66,000||9,14,000||CAT|
|30||30||IMI Delhi – International Management Institute||New Delhi||PGDM||15,28,000||20,19,060||CAT/GMAT|
|33||33||Indian Institute of Management Visakhapatnam||Visakhapatnam||MBA||15,06,000||16,79,920||CAT|
|34||60||FORE School of Management||New Delhi||PGDM||14,04,000||16,98,000||CAT/XAT/GMAT|
|35||16||IIM Rohtak||Rohtak||PGP||13,74,000||16,10,000||CAT/ GMAT|
|36||36||IIM Jammu – Indian Institute of Management||Jammu||MBA||13,53,000||17,15,000||CAT|
|37||69||IIM Sirmaur – Indian Institute of Management||Sirmour||MBA||12,74,000||15,75,000||CAT|
|39||66||IIM Sambalpur – Indian Institute of Management||Sambalpur||PGP||12,64,000||13,03,000||CAT|
|40||31||Great Lakes Institute of Management||Chennai||PGDM||12,50,000||18,75,000||CAT/GMAT/XAT/CMAT|
|41||38||TAPMI Manipal – T A Pai Management Institute||Manipal||PGDM||12,50,000||16,50,000||CAT/XAT/GMAT|
|42||68||Prin. L. N. Welingkar Institute of Management Development and Research – Online Distance Learning Center||Mumbai||PGDM||12,25,000||13,00,000||CAT/MAT/XAT/CMAT/ATMA|
|43||36||GIM – Goa Institute of Management||Goa||PGDM||12,14,534||18,31,200||CAT/XAT/GMAT/CMAT|
|44||51||Jaipuria Institute of Management||Jaipur||PGDM||11,49,000||11,25,000||CAT/ MAT/ XAT/ CMAT/ GMAT|
|45||58||IRMA – Institute of Rural Management Anand||Anand||PGDRM||11,39,000||10,10,000||CAT/XAT/IRMASAT|
|46||NA||LBSIM – Lal Bahadur Shastri Institute of Management||Delhi||PGDM||11,30,000||13,90,000||GMAT/CAT|
|47||76-100||LIBA – Loyola Institute of Business Administration||Chennai||PGDM||11,00,000||16,99,500||CAT/XAT|
|48||19||IIT Roorkee – Indian Institute of Technology||Roorkee||MBA||10,58,000||16,80,000||CAT|
|49||45||Institute of Management Nirma University||Ahmedabad||MBA||10,50,000||10,04,000||CAT|
|50||59||IMI Kolkata – International Management Institution||Kolkata||PGDM||10,03,000||13,00,000||CAT/XAT/GMAT|
|51||60||IFMR Graduate school of Business KREA University (IFMR GSB)||Andhra Pradesh||MBA||10,00,000||18,71,000||NMAT/CAT/XAT/CMAT/GMAT|
|52||76 -100||IMT Nagpur – Institute of Management Technology||Nagpur||PGDM||10,00,000||12,04,000||CAT/ XAT/ GMAT/ CMAT|
|53||50||BHU – Banaras Hindu University||Varanasi||MBA||9,70,000||1,50,000||BHU PET|
|54||75||IMT Hyderabad – Institute of Management Technology||Hyderabad||PGDM||9,65,000||14,50,000||CAT XAT GMAT CMAT|
|55||56||BIMTECH – Birla Institute of Management Technology||Great Noida||PGDM||9,38,000||13,00,000||CAT/XAT/GMAT|
|56||54||BML Munjal University||Gurgaon||MBA||8,77,000||12,35,000||CAT/MAT/XAT|
|57||70||IMI Bhubaneswar – International Management Institute||Bhubaneswar||MBA||8,75,000||12,99,000||XAT/ GMAT/ CAT/ CMAT|
|58||32||IFHE Hyderabad – ICFAI Foundation For Higher Education||Hyderabad||MBA||8,71,000||16,02,000||IBSAT/CAT/GMAT/NMAT|
|60||48||KIIT School of Management||Bhubaneswar||MBA||7,50,000||14,90,000||KIITEE/CMAT/ATMA/XAT/MAT/GMAT|
|61||NA||Institute of Management and Entrepreneurship Development Bharati Vidyapeeth||Pune||MBA||7,00,000||4,50,000||BMAT|
|62||27||Amrita Vishwa Vidyapeetham||Coimbatore||MBA||6,53,000||12,86,000||CAT/ XAT/ MAT/ CMAT/ GMAT/ GRE/ KMAT|
|63||76 -100||Manipal University Jaipur||Jaipur||MBA||6,50,000||7,89,000||CAT MAT CMAT XAT GMAT|
|64||53||Thapar Institute of Engineering and Technology||Patiala||MBA||6,21,000||8,28,360||CAT GMAT NMAT CMAT XAT MAT|
|65||28||Amity University||Gautam Buddh Nagar||MBA||6,00,000||10,58,000||CAT/GMAT/XAT/NMAT/CMAT/MAT/Amity written exam|
|66||66||School of Petroleum Management Pandit Deendayal Energy University||Gandhinagar||MBA||6,00,000||8,20,000||CAT XAT NMAT|
|67||67||Punjab University||Chandigarh||MBA||6,00,000||8,00,000||MAT XAT NMAT CMAT CAT|
|68||63||PSG College of Technology – PSGCT||Coimbatore||MBA||5,80,000||1,48,000||MAT CAT TANCET MBA|
|69||41||University of Petroleum and Energy Studies||Dehradun||MBA||5,70,000||15,26,000||UPESMET/ MAT/ CMAT/ CAT/ XAT/ GMAT/ NMAT|
|70||76 -100||Visvesvaraya Technological University [VTU]||Belgaum||MBA||5,60,000||5,00,000||MAT CAT CMAT KMAT Karnataka PGCET|
|71||46||Indian Institute of Technology (ISM)||Dhanbad||MBA||5,50,000||3,00,000||CAT|
|72||76 -100||Babasaheb Bhimrao Ambedkar University (BBAU)||Lucknow||MBA||5,50,000||1,81,000||Written exam by the institute|
|73||47||KL College of Engineering||Vaddeswaram||5,21,000||6,00,000||CAT/ MAT/ XAT/ NMAT/ ICET/ KL Business School Aptitude Test (KLUBSAT)|
|74||76-100||IIHMR University||Jaipur||MBA – HM||5,10,000||9,60,000||MAT/ CAT/ CMAT/ ATMA/ XAT/ GMAT/ IIHMR-U|
|75||74||Rajagiri Centre for Business Studies – RCBS||Kochi||PGDM||5,00,000||7,00,000||CAT/ CMAT/ KMAT/ KERALA MAT|
|76||57||AMU – Aligarh Muslim University||Aligarh||MBA||4,80,000||5,87,000||AMU Entrance exam|
|77||34||LPU – Lovely Professional University||Phagwara||MBA||4,32,000||5,32,000||LPU NEST/XAT/MAT/CAT/CMAT|
|78||76-100||Birla Institute of Technology Mesra||Ranchi||MBA||4,12,000||5,89,000||CAT/ MAT/ XAT/ CMAT|
|79||76 -100||University of Jammu||Jammu||MBA||4,00,000||3,85,000||CMAT/ MAT/ CAT|
|80||76 -100||Dayalbagh Educational Institute||Agra||MBA||3,50,000||22,050||Written exam by the institute|
|81||76 -100||Galgotias University||Gautam Buddh Nagar||MBA||3,00,000||3,08,000||CMAT/ MAT/ CAT/ NMAT|
|82||76 -100||Christ University||Bangalore||MBA||NA||NA||CAT/ CMAT/ MAT/ XAT/ ATMA/ GMAT|
|83||40||Chandigarh University||Mohali||MBA||NA||5,82,000||CUCET/ CAT/ MAT/ GMAT|
|84||76-100||Alliance School of Business Alliance University||Bangalore||MBA||NA||14,00,000||AMAT/GMAT/CAT/NMAT/XAT/MAT/CMAT/KMAT|
|85||29||Jamia Millia Islamia||New Delhi||MBA||NA||47,000||JMI Entrance|
|86||62||GGSIPU – Guru Gobind Singh Indraprastha University||Delhi||MBA||NA||2,42,000||CAT/ CMAT/ IPU CET|
|87||64||Atal Bihari Vajpayee Indian Institute of Information Technology and Management||Gwalior||MBA||NA||3,38,000||CAT|
|88||65||Graphic Era University – GEU||Dehradun||MBA||NA||5,26,000||CAT/ MAT/ XAT|
|89||71||K J Somaiya Institute of Management||Mumbai||MBA||NA||16,29,279||CAT/ XAT/ CMAT/ GMAT|
|90||76 -100||School of Management Studies – University of Hyderabad (SMS Hyderabad)||Hyderabad||MBA||NA||2,02,000||CAT|
|91||76 -100||Pune Institute of Business Management||Pune||MBA||NA||NA||MAT/ XAT/ GMAT/ CAT/ CMAT/ ATMA/ MAH CET|
|92||76-100||Jaipuria Lucknow – Jaipuria Institute of Management||Lucknow||PGDM||NA||10,45,000||CAT MAT XAT CMAT GMAT|
|93||76-100||Jagan Institute of Management Studies||Delhi||PGDM||NA||8,00,000||GMAT MAT CAT XAT CMAT ATMA|
|94||NA||IIFM – Indian Institute of Forest Management||Bhopal||Post Graduate Diploma in Forestry Management||NA||5,39,000||XAT/CAT|
|95||NA||Chandragupt Institute of Management||Patna||PGDM||NA||765000||CAT/ XAT/ CMAT|
|96||NA||IPE Hyderabad – Institute of Public Enterprise||Hyderabad||PGDM -IB||NA||815000||CAT/ MAT/ XAT/ CMAT/ ATMA GMAT|
|97||NA||IIITM Gwalior – Indian Institute of Information Technology and Management||Gwalior||MBA||NA||338000||CAT|
|98||NA||Shoolini University||Solan||MBA||NA||488000||MAT GMAT CAT SAT India HPCET|
|99||NA||J. C. Bose University of Science and Technology YMCA||Faridabad||MBA||NA||197000||CAT MAT XAT|
|100||NA||Faculty of Social Science Dayalbagh Educational Institute||Agra||MBA||NA||22050||Written exam by the institute|
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Note: The average salaries have been taken from the placement reports for the class of 2020-22 of the respective colleges.
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Apart from IIMs, there are other prominent top management colleges in India like XLRI, ISB, SP Jain, FMS Delhi, and MDI Gurgaon that are giving tough competition to the IIMs. The average salary from these five business schools is approx. INR 30,00,000.
While looking at the post-MBA salary for the top business schools in India, you can’t ignore the cost that is involved in getting an MBA. One of the things that you need to ask yourself is the ROI on your MBA investment.
The average tuition fee for the colleges mentioned in the table is approx. INR 13,00,000. However, there are other costs apart from your tuition fee, such as the living cost during MBA, hostel fee, and mess fee, that also needs to be taken into consideration.
Take a look at our video where we highlight the top 5 reasons to pursue MBA in 2023:
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List of Top 10 MBA Colleges in India 2023 | Top Business Schools
Now that you know the Top 100 MBA colleges in India let’s take a close look at the top 10 best business schools in detail.
Here is the list of the top 10 MBA colleges in India:
- IIM Bangalore
- IIM Calcutta
- IIM Lucknow
- FMS Delhi
- SPJIMR Mumbai
- XLRI, Jamshedpur
- IIM Indore
- MDI – Gurgaon
- IIM Ahmedabad
IIM Bangalore | Top MBA college in India
IIM Bangalore stands #1 on our list of top 10 MBA colleges in India. Let’s have a look at the details about IIM Bangalore’s flagship program- PGP, its admission criteria, eligibility, fee structure, and placement reports.
IIM B Flagship Program
Master of Business Administration (MBA), a Two-year full-time program is the flagship program at IIM Bangalore. Besides PGP, IIM-B offers the following programs in management studies:
- Master of Business Administration (EPGP), One-year full-time program
- Master of Business Administration (MBA), Two-year weekend program
- Master of Business Administration (Business Analytics) (MBA(BA)), Two-year full-time program
- Master of Management Studies (Public policy) (MMS (PP)), One-year full-time program
Standardized test for IIM B PGP admission
Domestics students can apply for admission into IIM-B PGP through CAT (Common Admission Test) (Cut-off – 85 percentile). International applicants can apply through the GMAT.
IIM B PGP eligibility criteria
You must fulfill the following requirements to be eligible to apply for IIM Bangalore PGP:
- You must have a bachelor’s degree or equivalent with 50% marks.
- You must have a valid CAT score (Cut-off: 85 percentile)
- International applicants can apply through a valid GMAT score
IIM B PGP Admission process
IIM Bangalore evaluates your application on the following criteria:
- CAT scores
- Performance in writing assessment test (WAT)
- Performance in the personal interview
IIM B PGP Fee structure
IIM Bangalore has set the total tuition fee for their PGP class of 2022 at INR 24,50,000. Moreover, you will be asked to make a caution deposit of INR 20,000, and an advance of INR 30,000 at the mess (each term)
IIM B PGP placement report
The table below highlights details about the placements for IIM Bangalore’s PGP 2020- 2022:
|Total # of students opting for placements||524|
|# of students who opted out of placements||11|
|Total # of offers made||662|
|# of companies recruiting||137120|
|Average domestic salary||INR 33.82 lakhs|
For details on IIM Bangalore’s post-graduate program for executives (EPGP), you can refer to the following article: IIM Bangalore EPGP.
IIM Calcutta | Top Indian business school
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IIM Calcutta ranks second in our list of top MBA colleges in India. IIM Calcutta is a well-known choice for students who seek a career in finance or consulting. Let’s have a look at significant details about IIM-C’s flagship course, its admission criteria, eligibility, fee structure, placement trends, etc.
IIM C Flagship program
The flagship program at IIM Calcutta is known as the Master of Business Administration (MBA). Besides MBA, IIM-C offers the following programs in management studies:
- MBAEx (formerly known as PGPEx)
Standardized test for IIM C MBA admission
- CAT (Cut-off – 85)
- GMAT (only for international applicants) (Cut-off – 85 percentile)
Domestic candidates can apply for IIM-C MBA 2023-2025 only through CAT 2022.
Interested candidates living, working, or studying outside India during the period December 15, 2021 to January 15, 2023, will be considered as ‘Overseas Candidate’ for admission to the MBA Program of IIM Calcutta for 2023-25 Batch.
However, an overseas candidate who is expected to be in India during CAT 2022 conducted on November 27, 2022, will not be eligible to apply under the overseas category.
IIM Calcutta MBA eligibility criteria
IIM Calcutta decides on your eligibility for its MBA program based on the following criteria:
- If you have a bachelor’s degree with at least 50% marks
- If you have a valid CAT 2022 score. Overseas candidates who is expected to be in India during CAT 2022, will not be eligible to apply under overseas category.
IIM Calcutta admission process
IIM Calcutta evaluates your application for final selection into its MBA program based on the following parameters:
- Your CAT 2022 score / GMAT score (weightage – 30)
- Performance in the personal interview (weightage – 48)
- Performance in written ability test (WAT) (weightage – 8)
- Your work experience (weightage – 8)
- Points awarded for Academic Diversity(weightage – 6)
Your application goes through three rigorous stages of shortlisting. Details about each stage can be found here: IIM Calcutta PGP admission policy.
IIM Calcutta Fee structure
IIM Calcutta has kept the tuition fee for the class of 2020-2022 is 26.98 lakhs, excluding the other costs.
For information on IIM Calcutta’s executive MBA program, you can refer to the following article: IIM Calcutta PGPEx.
Indian School of Business (ISB)
Indian School of Business (ISB) Hyderabad is the next institute on our list of top MBA colleges in India. We have put ISB in the third position due to its global tie-ups, great placement stats, and significant alumni list.
Let’s have a look at the details about ISB’s flagship course
ISB Flagship program
ISB’s flagship course is called PGP (post-graduate program in management). ISB also offers the following post-graduation programs in management:
- PGP for Senior Executives
- PGP for working professional
- PGP in Management for Family Business
Standardized test for ISB PGP admission
ISB accepts either GMAT scores or GRE scores for PGP admissions.
ISB PGP eligibility criteria
You will be considered eligible to apply for ISB PGP only if you fulfill the following criteria:
- You have a valid GMAT score (or GRE score)
- You have a bachelor’s or equivalent degree
- For international applicants, TOEFL/IELTS score is must (if your primary language for education wasn’t English)
- You have at least 24-months of full-time work experience
ISB PGP Fee structure
The total cost of attendance for ISB PGP stands at INR 41.63 lakhs (approx.), which is inclusive of taxes and other costs.
ISB PGP Placement report
ISB PGP class of 2022 received 2072 offers with an average CTC of INR 34.08 lakhs, an increase of 20.81% compared to last year’s CTC of INR 28.21 lakhs.
For detailed information on ISB PGP, you can refer to the following article: Indian School of Business PGP.
“I once rejected a candidate who had a stellar MBA application profile with an excellent work background. But, he did not perform well in the #ISBinterview. He, later on, got into Harvard Business school.”– AM Kannan, Former Director, Admissions and Financial Aid at ISB
Clearly, apart from judging a candidate’s profile, future goals, experience, and fitment, their performance in the interview plays a significant role. Watch this video where a former director of Admissions and Financial Aid at ISB, shared few anecdotal evidence like the one mentioned above and gave first-hand insights into preparing for the ISB interview:
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Moving on to the next college on our list of top MBA colleges in India – IIM Lucknow. The upcoming sub-sections highlight details about IIM Lucknow’s flagship program.
The flagship program at IIM Lucknow is called Post-graduate program in management (PGP). Besides PGP, IIM offers a bunch of other management studies programs for graduates and executives.
Standardized test for PGP admission
IIM Lucknow accepts CAT 2022 scores for its PGP.
PGP eligibility criteria
You will be deemed eligible for IIM Lucknow PGP if you fulfill the following criteria:
- You must hold a bachelor’s degree or equivalent with at least 50% marks
- Candidates in the final year of graduation can also apply. But, you will be required to produce relevant certificates by June 30, 2020, if selected.
- You must have a valid CAT 2022 score
PGP admission process
IIM Lucknow evaluates your application on the following parameters:
- Your past academic performance
- CAT 2022 scores
- Performance in Written Ability Tests (WAT)
- Performance in Group Discussion
- And, performance in the personal interview
Note: Only the candidates shortlisted for interviews are further evaluated on the criteria mentioned above.
PGP fee structure
The total cost of attendance for IIM Lucknow’s PGP class of 2023 -2025 is approx.INR 19 lakhs.
PGP placement reports
The following table gives an overview of the final placements at IIM Lucknow PGP class of 2020-2022:
|# of offers made||534|
|Highest CTC (domestic)||INR 61.59 lakhs|
|Median salary||INR 29 lakhs|
|Highest CTC (International)||INR 61.59 lakhs|
|Average CTC||INR 31.03 lakhs|
Faculty of Management Studies – Delhi University
FMS Delhi is one of the most sought-after MBA colleges in India due to its low cost of attendance and high ROI. Let’s have a look at details about its flagship program.
FMS DU Flagship program
The flagship program at Faculty of Management Studies (FMS) Delhi is a full-time course called MBA. Other management studies programs offered at FMS Delhi are:
- MBA-Executive HCA
Standardized test for FMS DU MBA admission
FMS Delhi will accept CAT 2022 scores for its MBA admissions for the batch 2023-2025.
FMS DU MBA admission process
The candidates are shortlisted for the interview round based on their CAT scores. 30%, 30%, and 40% weightage shall be given to QA, DI/LR, and VRC sections of the CAT, respectively.
After the interview, the shortlisted candidate will be further evaluated based on the following components of their application:
- CAT 2022 scores
- Past academic performances
- Performance in Group discussion
- Performance in Extempore
- And, performance in the personal interview
FMS DU MBA fee structure
You will be liable to pay a tuition fee of INR 20,960 for an MBA at FMS Delhi. Due to such low fees, FMS Delhi is known to have a high ROI.
FMS DU MBA placement reports
The following table highlights details about FMA Delhi MBA 2022 placements:
|# of students who sought placement holiday||12|
|# of recruiters||78|
|# of offers made||262|
|Average salary||INR 32.4 lakhs|
|Highest salary||INR 58 lakhs|
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SPJIMR Mumbai reserves the sixth position on our list of top MBA colleges in India due to the high global relevance of its programs. Let’s have a brief overview of its flagship program, application deadlines, eligibility criteria, fee structure, and placement reports.
SPJIMR Flagship program
The flagship program at SPJIMR Mumbai is called Post Graduate Diploma in Management (PGDM) – a two-Year full-time MBA. Along with PGDM, SPJIMR Mumbai offers a bunch of management studies programs, including a dedicated management program for women (PGMPW). Its Global management program (GMP) gives its students global exposure through connections with some of the leading business schools.
Standardized test for SPJIMR PGDM admission
SPJIMR Mumbai is quite flexible in terms of the standardized test scores it accepts for admission. You can take any one of the following three entrance exams to secure admission into SPJIMR Mumbai PGDM 2023-2025:
- CAT 2022
- XAT 2022
SPJIMR PGDM eligibility criteria
You must qualify under the following criteria to be eligible for PGDM at SPJIMR Mumbai:
- You must have a bachelor’s degree or equivalent
- You must have less than or equal to 5 years of work experience.
- You must have a valid CAT, XAT, or GMAT score
The cut-off scores for SPJIMR PGDM admissions are as follows:
- CAT 2022: Sectional percentile- 75, Overall percentile- 85
- GMAT: Sectional percentile- 75, Overall percentile- 85
Note: If you are applying through GMAT scores, you must have appeared for the exam in between the following period: January 1, 2021, to December 31, 2023.
SPJIMR PGDM Admission criteria
SPJIMR Mumbai divides its admission process into two segments: Profile based, and Profile-cum-score based
- For the first segment, the applicants are shortlisted based on their past academic performance, i.e., 10th, 12th, and graduation years. The shortlisted candidates are then called for an early interview
- The second segment of shortlisting is done after the availability of the test scores. The candidates are called for the second round of interview
The final selection of the candidates is based on the following parameters:
- Past academic performance
- Performance in entrance tests (CAT/XAT/GMAT)
- The relevance of work experience (if any)
- And, performance in both the rounds of interviews
SPJIMR PGDM fee structure
The fee for the PGDM class of 2022-2024 at SPJIMR Mumbai is INR 20.42 lakhs, which covers the tuition fee, accommodation charges, and Global fast track. You will be required to bear any other expenses incurred during the program.
SPJIMR PGDM placement reports
The table below highlights important details about the placements of SPJIMR Mumbai’s PGDM 2022:
|Participants in the batch||238|
|# of recruiters||70|
|Average salary||INR 32.05 lakhs|
|Median salary||INR 30.10 lakhs|
XLRI is the oldest and one of the best management studies institutes in India and ranks #8th in our list of the top MBA colleges in India. Let’s have a look at its flagship program, with details about its admission criteria, fee structure, placement report, etc.
XLRI Jamshedpur Flagship program
The flagship management studies program at XLRI, Jamshedpur, is a two-year full-time program called PGDM (Business Management). It also offers PGDM (HRM). It offers another part-time program in management studies known as PGDM (BM) part-time.
Standardized test for XLRI PGDM (BM) admission
XLRI requires you to take the XAT 2023 (Xavier Aptitude Test) for admission into its PGDM (BM) and PGDM (HRM) programmes.
XLRI PGDM (BM) and (HRM) eligibility criteria
If you plan on applying for XLRI’s PGDM (BM) and (HRM), you need to make sure that you fulfill the following eligibility criteria:
- You must have a recognized bachelor’s degree (10+2+3)
- You must have a valid XAT score.
XLRI PGDM (BM) and (HRM) Admission criteria
XLRI shortlists candidates to allot seats for its PGDM in business management through a three-step process:
- Registration for XAT 2023
- Shortlisting through XAT scores
- Personal Interview
Your application will be reviewed on the following parameters:
- You XAT score
- Your performance in the personal interview
XLRI PGDM (BM) and (HRM) Fee structure
XLRI Jamshedpur has set the cost of attendance for its PGDM in business management at INR 27.40 lakhs for two years. Besides the tuition fees, you will have to pay for the mess and hostel charges.
XLRI PGDM (BM) Placement reports
The following table highlights details about the placement of the XLRI PGDM (BM) class of 2022:
|# of recruiters||99|
|# of offers made||437|
|Average salary||INR 30.70 lakhs|
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The next college in our list of top MBA colleges in India is the Indian Institute of Management Indore.
The flagship program at IIM Indore is a two-year full-time residential MBA program called Post-graduate Programme in Management (PGP). Besides PGP, IIM Indore offers the following programs in management studies:
- Executive PGP
- Five years IPM
Standardized Test for PGP admission
You must take the CAT 2022 entrance exam to apply for PGP at IIM Indore (2023-2025 batch).
PGP eligibility criteria
Your eligibility to apply for PGP at IIM Indore (2023-2025 batch) will be decided on the following factors:
- You have a bachelor’s degree or equivalent with at least 50% scores.
- You have a valid CAT score. (International applicants can apply through GMAT scores)
- The cut-off percentile for CAT 2022 is as follows: Sectional percentile – 80, Overall percentile – 90.
- The cut-off GMAT scores for international applicants is 700, and the cut-off AWA score is 4.
PGP Admission criteria
The decision on your admission will be made by evaluating the following components of your application:
- Past academic performance
- CAT 2022 score or GMAT score (for international applicants)
- Performance in Writing ability test (for domestic students)
- Performance in personal interviews
International applicants are required to submit the following with their applications:
- Completed application form
- GMAT scores
- TOEFL score (if your primary language of education wasn’t English)
- Three letters of recommendation
- A statement of purpose
- A self-attested copy of passport.
PGP fee structure
The Indian students are liable to pay a fee of approx. INR 21 lakhs for IIM Indore PGP. For international candidates, the costs for PGP stand at approx. INR 25 lakhs.
The following table gives an overview of IIM Indore’s PGP 2022 placement report:
|No of Students participating||572|
|# of recruiters||180|
|Average salary||INR 25.01 lakhs|
|Highest salary (domestic)||INR 49 lakhs|
MDI – Gurgaon
The two-year full-time PGDM (Post Graduate Diploma in Management) at MDI, is ranked #10 in our top 10 MBA colleges in India list. The upcoming sub-sections are going to highlight important details about the MDI flagship program – PGDM, such as its eligibility criteria, admission process, fee structure, and placement reports.
MDI – Flagship program and other programs
Apart from the PGDM program, MDI offers these two programs under PGP:
- Post Graduate Diploma in Management – Human Resource Management (PGDM-HRM)
- Post Graduate Diploma in Management – International Business (PGDM-IB)
Eligibility for IMD PGDM Admission
To be eligible for the IMD PGDM program an applicant should have a CAT 2022 score or a valid GMAT score. Applicants who have both scores should specify which one they wish to be considered for the admissions.
Here is the eligibility requirement for the program:
- The candidate must have 50% marks in Class 10th and 12th
- Minimum 3-years Bachelor’s degree, with 50% mark
- The Bachelor’s Degree or equivalent qualification obtained by the candidate must entail a minimum of three years of education after completing higher secondary schooling (10+2) or equivalent.
On the basis of the details provided in the application form and the CAT or GMAT scores, candidates will be shortlisted to be called for the selection process between February and April 2023 at a center in one of the following cities: Bangalore, Gurugram, Kolkata, Hyderabad, Chennai, and Mumbai. Centers other than Gurugram are tentative. The selection process may also be conducted online through zoom for which the intimation will be given to the short-listed candidates in advance.
The final selection of the candidates will be based on the weightage of CAT-2022/valid GMAT score, PI, Academic merit, academic diversity, work experience, and social diversity, etc.
IMD – fee structure
The total cost of the PGDM program at MDI is INR 18,12,800. Here is the fee structure for the PGDM program 2022-2024:
|Nomenclature of Fees||1st Year||2nd Year|
|Tuition Fees||Rs 9,06,400||Rs 9,06,400|
|Boarding Charges||Rs 72,500||Rs 72,500|
|Lodging Charges||Rs 89,500||Rs 89,500|
|Learning Material Fees||Rs 56,600||Rs 56,600|
|Students Activities||Rs 28,500||Rs 28,500|
|Library Fee||Rs 34,000||Rs 34,000|
|Alumni Fee||Rs 14,300||–|
|Security Deposit*||Rs 27,500||–|
|Total||Rs 12,29,300||RS 11,87,500|
|Grand Total of Two Year||Rs 24,16,800|
|Tuition fee and other charges for NRI Students (excluding boarding and lodging expenses)||US $ 41,250||US $ 41,250|
|Grand total of Two year for NRI students||US $ 82,500|
MDI PGDM Placement report
The average salary for the 2020-2022 PGDM batch is INR 22,05,000. Here are the key highlights of the MDI PGDM placement report:
|Number of companies||87|
|Median Salary||INR 24,00,000|
|Average Salary||INR 26,65,000|
|Highest Salary||INR 40,50,000|
IIM Ahmedabad ranks #1 on our list of top MBA colleges in India. The upcoming sub-sections are going to highlight important details about IIM Ahmedabad’s flagship program – PGP, such as its eligibility criteria, admission process, fee structure, placement reports, and ROI.
IIM A Flagship program
The two-year Post-graduate Program in Management (PGP) is the flagship program at IIM Ahmedabad.
Besides, PGP, IIM-A offers the following programs in management studies:
- One-year full-time post-graduate program in management for executives (MBA-PGPX)
- A two-year postgraduate program in food and agri-business management (MBA-FABM)
Standardized Test for IIM A PGP Admission
If you are a domestic student, you can apply for PGP at IIM Ahmedabad through the Common Admission Test (CAT).
Note: IIM Ahmedabad considers GMAT scores only for overseas Indian candidates and foreign candidates seeking admission into its PGP.
IIM A PGP eligibility criteria
You must fulfill the following requirements to be eligible to apply for PGP at IIM Ahmedabad:
- You must have a bachelor’s degree or equivalent with 50% marks. (45% for SC, ST and PwD category applicants)
- You must have a valid CAT score (Cut-off: 80 percentile)
- IIM Ahmedabad allows overseas Indian candidates to apply through a valid GMAT score (cut-off- 720)
IIM A PGP admission process
Your application for admission to IIM Ahmedabad’s PGP will be evaluated on the following parameters:
- CAT scores
- Past academic performances
- Performance in the personal interviews
The admission criteria for IIM Ahmedabad’s PGP go beyond just having valid CAT scores and a bachelor’s degree. The competition for admission into IIMA PGP is quite high. It has not only set cut-off scores for the CAT, but also for the individual sections of the CAT. Besides the CAT score, your past academic performances will be minutely evaluated.
You can get details about the evaluation criteria for each component of your application here: IIM Ahmedabad PGP Selection Process
The information on the admission criteria for overseas Indian candidates can be found here: IIM Ahmedabad PGP Selection Criteria for Overseas Indian Candidates
IIM Ahmedabad PGP fee structure
IIM Ahmedabad has set the Tuition fee for its PGP class of 2022 at INR 24,61,000.
The cost of attendance mentioned above does not cover the expenses for laptop, travel, and other personal expenses.
IIM Ahmedabad PGP placement reports
The table below lists down details about the placement for the PGP class of 2020-2022:
|Total # of students eligible for placements||382|
|Students who didn’t seek placement||3|
|Mean Salary||INR 33,81,000 lakhs|
|Maximum Salary||INR 1.14 Cr|
For details on IIM Ahmedabad’s post-graduate program for executives (PGPX), you can refer to the following article: IIM Ahmedabad PGPX.
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Top MBA colleges in India – FAQs
Some of the top MBA colleges in India are IIM Bangalore, IIM Ahmedabad, IIM Calcutta, ISB, SPJIMR, FMS Delhi, and many more.
The Average Tuition fee for the top MBA colleges in India is approx. INR 10,68,413.
Yes. However, an MBA is only worth the effort, time, and expenses you put into it. Here is an article to help you understand if an MBA is worth it.
Yes. Most of the Indian colleges accept GMAT scores. IIMs accept it for MBA admissions into their 1-year full-time executive programs. However, for their two-year program, an Indian student is required to submit CAT 2022 Score. Here is an article to understand the scope of GMAT in India.
An MBA program duration can range from 1 to 2 years.
There are six types of MBA Program:
1. One-year MBA
2. Two-Year MBA
3. Executive MBA
4. Deferred MBA
5. Part-Time MBA
6. Online MBA
Here is the list of the top 10 MBA colleges in India:
1. IIM Bangalore
2. IIM Calcutta
4. IIM Lucknow
5. FMS Delhi
6. SPJIMR Mumbai
7. XLRI, Jamshedpur
8. IIM Indore
9. MDI – Gurgaon
10. IIM Ahmedabad