Public MBA colleges in India generally boast a long history of producing impressive alumni and may offer lower fees thanks to subsidies from the government.
However, private MBA colleges in India also have a lot to offer, including links to multinational corporations and up to 100% placement rates for their graduates.
While the Indian School of Business—India’s highest-ranked institution in the Financial Times Global MBA Ranking at 31st globally—did not participate in the NIRF ranking, several other private institutions continue to deliver high-quality business programs.
Here, we break down the top 10 private MBA colleges in India according to the NIRF ranking, including details on their entry requirements, curriculum, and post-MBA salaries.
Unless stated otherwise, all the schools on this list offer a two-year Post Graduate Diploma in Management (PGDM) and require candidates to have a bachelor’s degree with at least a 50% grade to enter.
10. Institute of Management Technology, Ghaziabad
Fees: INR 2,153,000 ($25,647)
At the Institute of Management Technology (IMT), the two-year MBA program allows students to specialize in marketing, financial management, HR, or operations management.
Additionally, students can choose minor specializations in areas such as business analytics, IT, strategy innovation and entrepreneurship, and economic environment and policy.
The program enhances learning with hands-on workshops in design thinking and innovation, data science and analytics, and entrepreneurship and new ventures, complementing a rigorous curriculum and summer internships.
It is no wonder, then, that grads command high salaries: the average for the Class of 2022 was INR 1,600,000 ($19,059).
9. Great Lakes Institute of Management, Chennai
Fees: INR 1,477,000 ($17,593)
The MBA at Great Lakes Institute of Management is designed for professionals with fewer than three years’ work experience under their belts, but that doesn’t mean it’s a lightweight program.
On the contrary, the school hosts visiting faculty from Ivy League colleges in the USA, including Kellogg, Stanford, and Yale.
The program includes experiential learning with students tackling real business problems under the guidance of a business mentor.
The recruiters snapping up Great Lakes grads include global brands such as Deloitte, EY, Amazon, HSBC, and Accenture, with the average salary post-graduation in 2022 coming to a massive INR 1,450,000 ($17,271).
8. MICA, Ahmedabad
Fees: INR 2,300,000 ($27,404) approx.
MICA is one of India’s top institutions for data specializations. The two-year MBA offers a range of specializations, including data science and business analytics, advertising and brand management, digital communication management, and media and entertainment management.
Additionally, students have the option to pursue a minor specialization in sales and customer relationship management.
A key component of the MICA MBA experience is a mandatory summer internship between the first and second years, which allows students to gain valuable industry experience in their chosen field.
After graduation, MICA graduates enjoy particularly strong salary prospects. In 2022, MICA graduates earned an average salary of INR 1,900,000 ($22,641).
To apply, candidates must hold a valid score in either the GMAT, CAT or XAT exams.
7. Amity University, Noida
Fees: INR 1,556,000 ($18,534)
Amity University is an internationally recognized institution. As well as its residential MBA program being ranked in the top 30 overall programs in India by NIRF, its online MBA is one of the best in India, ranking higher than any other Indian program in the QS Online MBA rankings 2024.
Electives on the program are wide ranging, offering teaching on thought-provoking topics like leadership, influence, and power, product and brand management, and management of technology and innovation.
In 2022, Amity University graduates took home an average salary of INR 600,000 ($7,146).
Applicants need a minimum GMAT score of 550 (which is around 525 under the new GMAT scoring system), MAT score of 650, or CMAT score of 200 to be eligible for entry.
6. Amrita Vishwa Vidyapeetham, Coimbatore
Fees: INR 1,350,000 ($16,080)
The MBA on offer at Amrita Vishwa Vidyapeetham is highly customizable to students’ ambitions, offering specializations in:
- AI and Business Analytics
- Finance
- Human Resources
- Marketing
- Operations
Students can also apply to a dual degree program where, in addition to the MBA, they complete an MS in Business Analytics at the University at Buffalo in New York, USA.
In addition to classroom teaching, students experience a wealth of hands-on learning. This includes a summer internship, business research projects, a capstone business simulation program, plus the option to receive additional certifications from the likes of IBM, SHRM, and more.
The average post-MBA salary for MBAs from Amrita Vishwa Vidyapeetham in 2022 was INR 810,500 ($9,654).
To apply, you’ll need a valid score in the CAT, XAT, MAT, CMAT, GMAT.
Read next: 9 Ways Business School In India Is Changing In 2024
5. SVKM's Narsee Monjee Institute of Management Studies, Mumbai
Fees: INR 2,500,000 ($29,794)
At 600 seats, the MBA at NMIMS is one of the larger classes on this list.
Students cover the fundamentals of business before choosing an area of specialization to concentrate on in their second year.
Beyond the classroom, students attend lectures by CEOs, and take part in business simulation games, psychological profiling, and personality development workshops.
After graduation, the NMIMS class of 2022 went on to earn impressive average salaries of INR 2,135,000 ($25,431).
To enter the program, you will need to complete the NMAT exam.
4. SP Jain Institute of Management and Research, Mumbai
Fees: INR 2,400,000 ($28,865)
SP Jain is one of the top MBA colleges in Mumbai and sits at number 20 on NIRF’s list of the best MBA colleges in India.
Named one of the best schools in the world for social impact, students at SP Jain are also treated to immersive learning experiences such as the ‘PGLab’, a personal leadership growth workshop targeting their people management skills.
SP Jain grads secure some of the highest average salaries of the top private MBA colleges in India. The average salary in 2022 was INR 3,200,000 ($38,116)—the highest on this list.
To be considered for a place, you will need a valid CAT or GMAT score and to complete a personal interview.
3. Symbiosis Institute of Business Management, Pune
Fees: INR 2,796,000 ($33,204)*
Symbiosis Institute of Business Management is one of the top MBA colleges in Pune and features a forward-thinking MBA curriculum.
Core courses include teaching on data-driven decision-making and supply chain management, while electives cover India-specific topics such as:
- Doing Business in India
- Indian Ethos and Values for Management
- Indian Film Industry: A Business Perspective
Students can also specialize in marketing, HR, finance, operations and supply chain management, or data analytics.
At the end of the program, Symbiosis Institute grads secure enviable pay packages. The average in 2022 was INR 2,400,000 ($28,587).
2. Management Development Institute (MDI) Gurgaon, Gurugram
Fees: INR 1,670,000 ($19,892)
MDI Gurgaon is undoubtedly one of the top private MBA colleges in India.
The school is recognized by multiple reputable institutions, namely the All India Council for Technical Education and the Association of Indian Universities. This means receiving a diploma from MDI Gurgaon is equivalent to a government program.
The school offers specializations in:
- Accounting and finance
- Operations management
- Marketing
- Strategy
- Information management
Students can also study for one term with a partner institution overseas, with partners including management institutions in France and Japan.
MDI Gurgaon is well-known for its strong work placement outcomes. Most job placement offers for MDI Gurgaon students come from consulting and financial services firms, yielding average salaries of INR 2,613,000 ($31,125) in 2022.
You’ll need a minimum of three years’ postgraduate work experience to be considered, as well as a valid CAT score. To find out more, read our MDI Gurgaon MBA Application Insider.
1. XLRI-Xavier School of Management, Jamshedpur
Fees: INR 2,860,000 ($34,085)
Finally, we come to the two-year MBA program at XLRI-Xavier School of Management, at ninth place overall on the NIRF ranking and the top private MBA college in India in 2024.
Students can specialize their MBA in the following areas:
- Human resource management
- Business management
- General management
- Innovation, entrepreneurship and venture development
- Logistics and supply chain management
XLRI Jamshedpur also offers unique experiential learning elements such as its Village Exposure Program, a consultancy project in which students lend their business expertise to solve problems for rural communities.
Perhaps not surprisingly for such a reputable program, 2022 graduates from XLRI Jamshedpur earned the second-highest average salaries on this list, at INR 3,024,000 ($36,021).
The program requires a minimum of three years’ work experience and a score on the XAT 2024, GMAT, or GRE.
To find out how to craft a winning application, read our XLRI Jamshedpur Application Insider.
© Image by Alexis Ricardo Alaurin on Pexels, reproduced under this license
This article was written in January 2024, and updated in August 2024 to reflect the 2024 NIRF ranking.
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