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 2023.
Here are five of the best non-IIM business schools in India that are all ranked in the National Institutional Ranking Framework (NIRF):
1. IIT Delhi (NIRF ranked 5)
Known for its innovation prowess, Indian Institute of Technology (IIT) Delhi's management program combines cutting-edge business acumen with technological expertise, fostering leaders who are adept in business strategy and innovation. IIT Delhi offers full-time MBA. In its Final Placement Report for 2021-2023, IIT Delhi boasted a highest offered cost-to-company (CTC) of INR 41.13 lakhs per annum (LPA), with a median CTC of INR 24.45 lakhs. Recruiters encompass a diverse range of prominent organisations 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 offers a management course that emphasizes ethical leadership and social responsibility. XLRI Jamshedpur offers PGDM (BM) and PGDM (HRM) programmes. XLRI achieved 100% placements for the 2021-2023 batch, boasting a top international package of INR 1.1 crore in HR. Both HRM and BM programs witnessed exceptional placements, with 463 candidates securing offers from 117 recruiters, yielding 484 domestic and 3 international offers. The average salary...
3. IIT Bombay (NIRF ranked 10)
IIT Bombay offers a full-time MBA programme. The MBA batch of 2021-23 at IIT Bombay's SJMSOM achieved 100% placement, marking an 11% surge in the average salary to INR 28.88 LPA, up from INR 25.93 lakhs last year. Notably, the highest salary rose to INR 54 LPA, surpassing the previous year's INR 49 lakhs, while the median salary increased to INR 26.64 LPA from INR 25.80 lakhs. The placements recorded a minimum salary of INR 20 LPA for the batch comprising 115 students.
4. Management Development Institute (NIRF ranked 13)
MDI stands tall among business schools with its comprehensive management program fostering strategic thinking and leadership. MDI Gurgaon offers a two-year, six-term PGDM. Its placement for 2023 showcased exceptional outcomes with the highest CTC reaching INR 60 LPA. Engaging 102 recruiters, including 21 new ones, the institute secured placements for 472 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 14)
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, while the average settled at INR 22.13 LPA. Noteworthy were the top 10% averaging INR 1.55 LPA and the top 25% and top 50% averaging INR 27.78 LPA and INR 24.66 LPA respectively. Recruiters included Accenture, Amazon, Reliance Retail, Genpact, Deloitte, ICICI Bank, Mahindra, and other prominent names.
Application process
To apply to the 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, it 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 recognised 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 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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