Over the past couple of decades, MBA programs in colleges across India have been competing with universities across the world. Admissions to these programs are in high demand since they offer an immersive experience setting up students for success throughout their careers.
Companies from all over the world including the likes of Goldman Sachs, JP Morgan and Chase, Boston Consulting Group, Google, are regular recruiters at these campuses.
The Indian Institutional Ranking Framework (IIRF) recently published rankings for the top MBA institutions in the country. It collected data directly from the institutions and worked with experts in the sector to draw up the rankings. Each is scored on its teaching, placements, resources, research and reputation.
Find out the best 10 MBA colleges in India based on this ranking, the selection process for their programs, and career prospects once you graduate.
10. Shailesh J Mehta School of Management, Indian Institute of Technology Bombay
Fees: Rs 20,00,000 (US$24,100)
The Shailesh J Mehta School of Management is part of the Indian Institute of Technology Bombay, and was established in 1995. The school offers management courses in IT, Finance, Marketing, and others building excellent career prospects for students once they graduate.
To apply for admission to its MBA program, candidates need a degree from a four-year bachelor’s program with at least 60% marks. They also need a relevant CAT score and should be above the 75th percentile each in QA, VARC, and DILR and 90th percentile overall.
Most of the students who join the MBA program come from an IT background and have less than three years of work experience.
The eligible candidates are selected for a personal interview based on a composite score that takes into account their CAT score and performance during their 12th standard examination and graduation. Women, postgraduates and professionals can get an additional 5% weightage based on their work experience.
After the interview, candidates will be selected for the program based on their CAT performance, personal interview, and their profile.
The latest available placement report showed that the largest share of students from IIT Mumbai went into consulting companies and that the highest CTC offered was 49 LPA (approx. US $60,000 per year). On average students received offers of around 25.9 LPA ($31,200 per year) with a median CTC of 25.8 LPA ($31,100).
9. Institute of Indian Management Indore (IIM Indore)
Fees: Rs 20,10,800 (US$24,200) and Rs 30,11,800 ($36,250) for NRI candidates
IIM Indore is a sought-after institute among MBA candidates with its experienced faculty and excellent facilities.
To be eligible for admission to IIM Indore, candidates need a bachelor’s degree from a four-year program or an equivalent with at least 50% marks. They also have to be at least in the 80th percentile for Quant, VARC, and DIRL, and in the 90th percentile overall in their CAT exams.
Most of the students from the latest batch were from an IT background with less than three years of experience.
Based on their 10th and 12th scores, scores from their CAT exam, and a diversity factor, the institute shortlists candidates for a personal interview.
As well as the personal interview, MBA candidates are selected based on a score that takes into account their marks from the 10th standard and CAT examination.
Most grads enter the consulting sector. According to the latest available placement report, the last batch from the MBA program received offers with an average CTC of 30.21 lakhs (approx. US $36,400) (median CTC: 27.2 lakhs or $32,750). The highest CTC received was for 1.14Cr ($137,250).
8. Institute of Indian Management Mumbai (IIM Mumbai, formerly NITIE Mumbai)
Fees: Rs 21 Lakhs (US $25,300)
IIM Mumbai is one of the best-known management institutions in the country and attracts the country's top students.
To be eligible for admission to the MBA program at IIM Mumbai, candidates must hold a bachelor’s degree from a 4-year program scoring at least 50% or the equivalent. They also have to be at least in the 85th percentile in their CAT exams and be at least in the 80th percentile in VARC and DILR and hold a 75th percentile Quant score.
Shortlisted candidates are called for a personal interview and places allocated on this, their CAT score, academic performance, work experience, with an additional score for gender diversity.
The program offers specialization in Marketing, Finance, HRM, and many others. After graduation, most students enter consulting, with placements offering an average package of Rs 29 lakhs or approx. US $35,000 (median Rs 28 LPA or $33,750). In the last batch, the highest CTC received was Rs 78.2 LPA ($94,000).
7. Indian Institute of Foreign Trade (IIFT) Delhi
Fees: MBA in International Business Delhi Rs.21,77,314 (US $26,200) Kolkata Rs.20,97,314 ($25,250) MBA in Business Analytics Rs 17,16,506 ($20,700)
To be eligible for the MBA program at the Indian Institute of Foreign Trade, Delhi, students must hold a bachelor’s degree with a minimum of 50% percent marks.
The latest placement reports indicate that graduates achieved an average CTC of Rs 29.1LPA or approx. US $35,000 (median 26.5LPA) during campus placements. The highest CTC received was Rs 85.4 LPA ($102,800) for an international placement, and Rs 76.5 LPA($92,100) for a domestic role.
6. Institute of Indian Management Lucknow (IIM Lucknow)
Fees: Rs 20,75,000 (approx. US $25,000)
The Indian Institute of Management Lucknow was the fourth IIM in India and was established in 1984. Ever since it has produced MBA graduates that have gone on to lead companies all over the world.
To be eligible for the program at IIM Lucknow, candidates must hold a bachelor’s degree with at least 50% marks or an equivalent and should be among the 85th percentile or above for VARC, DILR, and QA in their CAT and in the 90th percentile overall.
Eligible candidates are shortlisted for a personal interview and a writing test.
After this, the students are selected based on their CAT scores, academic performance during their 12th and graduation, performance in the writing test and personal interview, with additional points for gender and academic diversity.
The institute offers specializations in marketing, finance, accounting, HR, operations, IT, and others.
After graduating from the institute, students achieve placements with an average CTC of 32.2 LPA or approx. US $39,000 (Median 30LPA) according to the latest reports. The highest CTC received in the last batch was 1Cr ($120,400).
5. Institute of Indian Management Kozhikode (IIM Kozhikode)
Fees: Rs 20,50,000(approx. $25,000)
The Indian Institute of Management Kozhikode is one of the younger IIMs but its excellent faculty and infrastructure have offered students some of the best career prospects in the country.
Candidates need a bachelor’s degree, scoring at least 60%, to be eligible for admission to IIM Kozhikode. Eligible candidates will be shortlisted for a personal interview (PI) and writing ability test (WAT) based on their CAT score, class 10th and 12th scores, with additional points for work experience and gender/academic diversity.
The final list of students will be selected after the PI and WAT based on their CAT score, performance in interview and writing tests, and their resumes.
The institute offers specialization in marketing, IT, economics, finance, accounting, and more. According to the latest reports, graduates received placements with an average CTC of Rs 29.5 LPA or $35517(Media Rs 26.5 LPA). The highest CTC received was Rs 61.5 LPA.
Most of the graduates went into consulting with Bain and Company and Goldman Sachs making the largest number of offers.
4. Institute of Indian Management Bangalore (IIM Bangalore)
Fees: Rs 20,50,000 (approx. $25,000)
The Indian Institute of Management Bangalore offers students an amazing opportunity to work with the top companies in the world once they graduate. After graduation, most of the students go into the consulting field with companies like Bain and Company, Boston Consulting Group, and Goldman Sachs making the largest number of hires. Students usually get an average CTC of 28.6 LPA or $34436 (Median 28.98 LPA or $34893) during campus placements.
The institute offers specialization in economics, marketing, entrepreneurship, finance, and accounting among others.
Most of the students who join the MBA program at IIM Bangalore come from an engineering background with around 2 years of experience.
Candidates need a valid CAT or GMAT/GRE score to be eligible for admission to IIM Bangalore. The final selection is based on their CAT scores, academics, work experience, and their performance in writing ability tests and interviews.
3. Institute of Indian Management Calcutta (IIM Calcutta)
Fees: Rs 31,00,000 (approx. $37325)
Most of the students who join the MBA program at the Indian Institute of Management Calcutta are from an engineering background and with around a year of work experience.
To be eligible for admission to the program, candidates must hold a bachelor’s degree with at least 50% marks and be in the 80th percentile for VACR, DILR, and QA sections and in the 90th percentile or above overall in the CAT exams.
Eligible candidates are shortlisted for a personal interview and a writing test based on their academic performance and CAT scores.
After the interview, students are selected based on their CAT score, performance in their interviews and writing test, and work experience.
The last batch of students graduating from IIM Calcutta had an average CTC of 35.07 LPA or approx. US $42,250 (median: 33.67 LPA) during placements, with the highest CTC being 1.15 Cr among domestic placements, and 94.82 LPA among international placements.
2. Faculty of Management Studies (FMS), University of Delhi
Fees: approximately Rs.2,00,000 or US $2,400
FMS is one of the top management institutes in the country, but also one of the least expensive. It boasts the best ROI of MBA colleges in India. Tuition fees come to only about 2 lakh rupees for the entire program but the students achieve placements of around 34 LPA or approx. US $41,000 once they graduate. The highest CTC received during the latest placement rounds was Rs 1.23Cr.
While the eligibility criteria are pretty much the same as the rest in this list, the competition is huge and simply being eligible is not likely to get you an admission here. That said, you need at least 50% marks at graduation level and candidates are selected based on their CAT score, marks in 10th and 12th, discussion of statement of purpose, extempore, and performance during the interview.
The institute offers specialization in marketing, finance, entrepreneurship, IT, and many others. Most graduates go into the consulting field with companies such as Accenture, Amazon, American Express, and Bain and Company being some of the regular recruiters at the campus.
1. Indian Institute of Management Ahmedabad (IIM Ahmedabad)
Fees: R. 25,00,000 or approx. US $30,000
IIM Ahmedabad is the leading management institute in the country with students receiving an average of Rs 32.79 LPA or $39478 (Median: Rs 31.49 LPA or $37912) during campus placements. That said there’s stiff competition to get admission to the institute.
Most of the students joining the program come from an IT and industrial background and are freshers or have one to two years of experience.
To be eligible for admission, candidates must hold a bachelor’s degree with at least 50% marks or an equivalent and a valid CAT score and be at least in the 70th percentile for all the sections and in the 80th percentile overall.
Foreign nationals must take the GMAT exam to be eligible for admission.
Like most other institutes, eligible candidates will be shortlisted for a personal interview and a writing exam and will be selected based on their performance as well as their marks from 10th, 12th, bachelor’s, and work experience.
The institute has a strong focus on agribusiness but also offers courses in HR, finance, accounting, marketing, and others.
The highest CTC offered during the last placement drive was for 61.48 LPA. Most of the students went into the consulting field with Boston Consulting Group being the top recruiter followed by Bain and Company.
