To help you explore some of the options, BusinessBecause has curated a selection of institutions that sit within the esteemed top 20 of the NIRF Ranking 2024.
Here are five of the best non-IIM MBA colleges in India that are all ranked in the National Institutional Ranking Framework (NIRF):
1. IIT Delhi (NIRF ranked 4)
Known for its innovation prowess, the Indian Institute of Technology (IIT) Delhi's full-time MBA program combines cutting-edge business acumen with technological expertise, fostering leaders adept in business strategy and innovation.
In its Final Placement Report for 2021-2023, IIT Delhi boasted a maximum cost-to-company (CTC) of INR 41.13 lakhs (US$48,900) per annum (LPA), with a median CTC of INR 24.45 lakhs (US$29,000). Recruiters of IIT Delhi MBA graduates encompass a diverse range of prominent organizations in finance, sales and marketing, IT and HR. This includes companies such as Amazon, Adani Group, JSPL, JSW, ICICI Bank, Tata Consumer Products, GAIL, People Interactive, IBM, Yes Bank, Barclays, BlackRock, and Anand Rathi Financial Services, among others.
2. XLRI (NIRF ranked 9)
Renowned for its rigorous academic curriculum and holistic approach, XLRI Jamshedpur offers a management courses emphasizing ethical leadership and social responsibility. Students can choose between a Postgraduate Diploma in Management (PGDM) for Human Resource Management (HRM) and a PGDM for Business Management (BM). XLRI achieved 100% placements for the 2022-2024 PGDM cohort, boasting a top domestic offer of INR 75 lakhs (US$89,200) in the finance sector.
Both HRM and BM programs witnessed exceptional placements, with 503463 candidates securing offers from 154 recruiters,...
3. IIT Bombay (NIRF ranked 10)
IIT Bombay offers a full-time MBA program. The MBA batch of 2022-2024 at IIT Bombay's SJMSOM achieved 100% placement rates and an average CTC of INR 28.01 lakhs (US$33,300), in line with average salaries from the previous year.
Notably, the highest salary rose to INR 72 LPA (US$85,600), surpassing the previous year's INR 54 lakhs (US$64,200), while the median salary rose slightly to INR 26.73 LPA (US$31,800) from INR 25.80 lakhs. Almost half of IIT Bombay MBA students received pre-placement offers (PPO) from summer internships, and recruiting companies included JPMorganChase, Accenture, Amazon, Air India, and TATA Communications.
4. Management Development Institute (NIRF ranked 11)
MDI Gurgaon stands tall among business schools with its comprehensive two-year, six-term PGDM program fostering strategic thinking and leadership. MDI Gurgaon offers a two-year, six-term PGDM. Its placement for 2024’s graduates showcased exceptional outcomes, with the highest CTC reaching INR 63.3 LPA (US$75,250), an increase from last year. Engaging 155 recruiters, including 89 new companies, the institute secured placements for all 314 students.
Professor Kirti Sharma, associate professor and lead for placements at MDI Gurgaon, said, “MDI is dedicated to nurturing long-term partnerships with recruiters who share our commitment to excellence, ethical practices, and employee well-being. We value recruiters with a proven market reputation, a dedication to CSR, ethical governance, and a genuine commitment to employee well-being.
"Our alumni have excelled in esteemed organizations like AB InBev, McKinsey & Company, Amazon, Google, Aditya Birla Group, and many more, forging successful careers after their journey with us," Prof. Kirti Sharma said.
5. IIT Kharagpur (NIRF ranked 19)
Offering a management curriculum grounded in innovation and entrepreneurship, IIT Kharagpur's program prepares students for dynamic business landscapes. IIT Kharagpur's placement report for 2021-2023 highlighted remarkable outcomes, with 94 students securing placements.
The highest CTC stood at INR 43.37 LPA (US$51,600), while the average settled at INR 22.13 LPA (US$26,300). Noteworthy were the top 25% and 50% averaging INR 27.78 LPA (US$33,000) and INR 24.66 LPA (US$29,300), respectively. Recruiters included Accenture, Amazon, Reliance Retail, Genpact, Deloitte, ICICI Bank, Mahindra, and other prominent names.
Application process
To apply to the non-IIM MBA colleges above, you will need to sit the CAT exam. The Common Admission Test (CAT) is India's most prestigious national-level entrance examination for admission to top b-schools in India.
The CAT exam comprises three main sections: Verbal Ability and Reading Comprehension (VARC), Data Interpretation and Logical Reasoning (DILR), and Quantitative Ability (QA). These sections assess different skill sets, collectively determining candidates' overall CAT scores. A computer-based exam allows candidates to manage each section within the allotted time frame at their own pace.
To apply, you must also have a bachelor’s degree or equivalent awarded by any of the universities incorporated by an act of the central or state legislature in India or other educational institutions established by an act of Parliament or declared to be deemed as a University under Section 3 of the UGC Act, 1956, or possess an equivalent qualification recognized by the Ministry of HRD, Government of India.
Applicants in their final year of a bachelor's degree or equivalent qualification and those who have fulfilled degree requirements but are awaiting results are also eligible to apply.
Following the declaration of the CAT results, students can apply separately to these colleges. Admission to these colleges includes a written test (depending on the college) and an interview. After the interview, students will receive the final offer letter for admission.
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