For a very long time, the Indian Institutes of Management (IIMs) have always been the most frequently occurring MBA colleges in India whenever top MBA colleges are mentioned. However, in recent times, the narratives have changed as there are other MBA colleges that are taking the lead role in India.
14 out of 20 IIMs made it to the top 100, with other MBA colleges competing with them in terms of quality. So, there are more than enough options for you to make your choice if you have the aim of obtaining your MBA in India. Also worthy of note is the average salary for an MBA graduate in India which is estimated to be INR 11,43,955.
We have been able to help you compile a list of the top ten MBA colleges in India that are performing above average and they are enlisted below:
- Indian Institutes of Management, Ahmadabad
The IIM Ahmadabad was founded in 1961 by an excellent scientist known as Vikram Sarabhai. The institute is known for its academic excellence, dedication and faculty pool. It has collaborated with the Harvard Business School to change the way management education is handled in the institution. As a result, case-study based approach to learning was introduced and has proved to be more effective in imparting the students.
There are three different postgraduate programs in MBA offered in IIM Ahmadabad and they include:
- Two-year postgraduate program in management (MBA)
- Two-year postgraduate program in food and agribusiness (MBA-FABM)
- One-year full-time postgraduate program in management executive (MBA-PGPX)
To be admitted in the institute, you must:
- Be at least 25 years
- Possess a bachelor’s degree or its equivalent
- Have a full-time work experience of at least four years
- Have a valid GMAT or GRE score.
All the application process takes place online. Tuition fee is INR 23,00,000.
- IIM Bangalore
IIM Bangalore was established in 1973 and was the third IIM to be established in India. It was recently declared an ‘Institute of National Importance’ under the IIM acts of 2017. There are five degree-granting programs offered in the postgraduate management studies:
- PGP in Management
- Executive PGP (EPGP) in Management
- PGP in Enterprise
- PGP in Public Policy and Management
- PGP in Business Analytics.
The programs are designed to provide mid-level and senior-level professionals with a platform that would enable them maximize their career roles in leadership.
Eligibility Criteria for Admission
To apply for admission in IIM Bangalore, you must:
- Be a graduate with at least 50% CPGA
- Have at least five years full-time work experience after graduation
- Have a valid GMAT or GRE score.
In addition to the above, you will also be required to submit two Letters of Recommendation and a Statement of Purpose. Tuition fee, international immersion program fee and accommodation charges will be needed for you to become a full student of the institution.
The tuition fee is INR 23,00,000.
- IIM Calcutta (IIMC)
This was the first Indian Institute of Management to have been established and was followed by IIM Ahmadabad. The aim of establishing the institute was to meet the need for qualified managers to assume their roles in the managerial positions of the industrial revolution. With the success of the first two IIMs, there was need for other institutes to be set up in order to groom current and future leaders who would rule the business world. The IIMC has a global reputation for its postgraduate, doctoral and executive management education programs. It is interesting to note that even though it has honed a niche for global reputation, the IMMC is known locally as Joka management or IIM Joka as a result of the significance of the place of Joka. The eligibility criteria are the same as other IIMC programs in India.
The tuition fee is INR 23,00,000.
- Indian Business School (IBS)
Indian School of Business is known for its role in building world-class leaders and has become one the most sought-after business schools in India. To secure admission in the school is very competitive as the school tries to select the best brains for its MBA programs.
To gain admission into the institution, you must start early to process the admission. If not, your chances of getting admitted might become very slim.
- IIM Lucknow International Program Management for Executives (IPMX)
This is a one-year executive MBA program that focuses on exposure to the international business environment. The students are provided the opportunity to be equipped with global business knowledge and issues. This is in line with the vision of the institute to nurture value-driven global players, leaders and managers.
There are two main postgraduate programs offered at IIM Lucknow with some sub-programs. They include:
- Post Graduate Programs in Management
- Post Graduate Program for Executives
In addition, the institute has entered an alliance with Harvard Business School to provide quality education to its students. It also entered into partnership with Kelly School of Business in USA to provide a certificate program in Business Analytics for executives.
To be able to secure admission into the IIMS Lucknow, you must:
- Be an executive with a bachelor’s degree or its equivalence
- Have a minimum of 50% marks or equivalent CGPA
- Have a minimum of five years full-time managerial experience after graduation
- Have a valid GMAT score with test taken during the last five years.
You can visit the website for more information.
- Management Development Institute, Gurgaon
Management Development Institute popularly known as MDI Gurgaon or MDI is a privately owned institution located in Gurgaon, a commercial hub close to New Delhi, the Indian capital. It is the first business school that was accredited by the Association of MBA (AMBA), London. It was also accredited by the South Asian Quality System (SAQS). It has also been ranked consistently as one of the leading MBA schools in India. The NBA (National Board of Accreditation) also awards it with A Grade.
It offers numerous postgraduate programs (PGM) in fields like management, human resource management, national management program, public policy and management, among others. The MDI teaches with a fusion of research and industry experience as well as education and consultancy. Students are employed by reputable organizations in different sectors all over the world upon graduation.
The tuition fee is on the range of INR 21,34,000 – 25,00,000.
- Xavier Labour Relations Institute (XLRI) School of Management, Jamshedpur
The XLRI School of Management is a business management school with an international standard. It was established in 1949 and accredited by AICTE, NBA, AMBA, and AACBS. The vision of the institution is to train responsible global leaders for a sustainable future and the common good of all. It also provides value-based teaching approach and impact students with the ability to solve real-life management challenges that face the private, public and nonprofit sectors of the country.
The tuition fee is between INR 20,95,000 and INR 23,60,000.
- SP Jain Institute of Management and Research (SPJIMR)
This is one of the most prestigious business schools in India and is located in Mumbai. It has consistently ranked as one of the best management schools in the country and founded in 1981 by the then British Prime Minister, Margaret Thatcher. The vision of the institution is to practice and promote a value-based growth.
The SPJIMR offers Post Graduate Diploma in Management in a full-time residential mode in different areas of specializations including Finance, Information Management, Marketing Management and Operations as well as Supply Chain Management. It also offers other Post Graduate Management Programs in other fields.
The PGM programs are accredited by the AICTE, AMBA, and NBA. The tuition fee is INR 17,87,500.
- Great Lake Institute of Management (GLIM), Chennai
GLIM Chennai was established by Dr. Bala V. Balachandran whose aim was to set up a leading management institute in India by providing low-cost quality education to the students.
The institution is accredited by AMBA, SAQS, AICTE and NBA. All courses available at the institute are approved by All Indian College of Technical Education (AICTE) and they include Management Degrees, Post Graduate Degree in Management (PGDM) and Post Graduate Program in Management (PGPM).
Students are also provided education loans by the institution in collaboration with HDFC CREDILA, Avanse, Bank of Baroda and Axis Bank.
- Indian Institute of Technology (IIT), Kharagpur
The institute has a curriculum designed to focus on the overall development of the students and this is evidenced in the rate at which the students secure jobs in top businesses all over the world. It has a wide alumni network that supports the institute in great ways such as mentoring the incoming students in various aspects.
The admission process at the IIT is very strict and has made it attract only the best brains from all over the country and abroad. The institute has also contributed immensely in different fields through its research labs and facilities. Furthermore, it accepts international students of various backgrounds and provides scholarships to take care of diverse needs of the students.
It is advisable for students to apply for a reputed B-School in the country. The reputation of your college has an effect on your career opportunities after graduation.
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The following are reasons to study for MBA in India:
- High quality education: studying in India offers you profound value for your money. The colleges in India typically charge less than their counterparts in Europe and America. Further to that, the living cost in the country is relatively cheaper and affordable for international students.
- Top business schools to choose from: there are numerous top business schools in India to choose from while applying for your MBA program. The schools, in addition, offer high quality and globally-accredited MBA programs.
- Friendly student visa: to obtain a student visa to study in India does not cost an arm and it does not come with any challenges. The process for obtaining a student visa by international students has been streamlined and simplified.
- Exciting career opportunities
Most Fintech, healthcare and technology companies are offering exciting career opportunities for MBA students. Big multinationals like Amazon, McKinsey, Google, and others employ graduates from Indian business schools.
You will definitely enjoy every bit of decision you took to acquire an international MBA in India as there are exciting opportunities available for you, both locally and internationally.