Best MBA Colleges: in India, with Fees, Placement Wise, Ranking Wise

Q: Is it okay to do MBA from an average college?

Doing an MBA from an average college has its pros and cons.MBA admission in premier colleges like IIMs are expensive and normal colleges can offer you the same education at a very cheap MBA cost.The placements at Tier 2 and Tier 3 MBA colleges do not match the level of IIMs, but the salary package here is also good and often in 7 digits only. This, in turn, improves the ROI offered by the college.If you earn the requisite skills during the 2 year tenure and become capable enough, then you can also apply for off-campus placements and get a good job.

Nikita Joshi

Content Curator | Updated on - Nov 6, 2023

Best MBA colleges in India include IIM Ahmedabad, IIM Bangalore, IIM Calcutta among IIMs and IIT Delhi, IIT Kharagpur, IIT Madras among IITs. There are around 4500 other MBA government and private colleges that come under best MBA colleges according to NIRF ranking.

IIM Ahmedabad out of all the IIMs in India has been ranked as the best MBA college in India by NIRF Ranking and Outlook Ranking to pursue the MBA Course. The Outlook ranking survey and NIRF have ranked IIM Bangalore as the second best MBA college in India. In the QS global rankings report of 2023, IIM Ahmedad secured the 44th rank, followed by IIM Bangalore (Rank 50) and IIM Calcutta (Rank 68) in the list of top MBA colleges globally. Indian School of Business was also included in this list at 78th spot.

Best MBA Colleges in India offer MBA Courses in Part-time, Full-time, Distance, and Online modes and in various MBA Specializations such as Marketing, Finance, Human Resources, Information Technology, and many more. To get MBA Admission in the best MBA college, you need to have a high merit score in graduation, as well as a CAT score of 99%. Performance in MBA GD/PI rounds also plays a crucial role in deciding your admission to the best MBA colleges.

Distance MBA	Online MBA	MBA Specializations

Table of Content

Best MBA Colleges in India: NIRF Ranking
Best MBA Colleges in India with Fees
Best MBA Colleges in India Placement Wise
Best MBA Colleges in India Top Recruiters
Tier 1 MBA Colleges
Tier 2 MBA Colleges
Tier 3 MBA Colleges
How to select the best MBA College?
Best MBA College as per Entrance Exam

9.1 CAT

9.2 MAT

9.3 CMAT

9.4 XAT

Best MBA Colleges as per Outlook Ranking
Best MBA Colleges in Delhi
Best MBA Colleges in Mumbai
Best MBA Colleges in India: FAQs

Best MBA Colleges in India: NIRF Ranking 2023

The top 15 MBA Colleges as ranked by NIRF are listed below

NIRF Ranking 2023	Institutes
1	IIM Ahmedabad
2	IIM Bangalore
3	IIM Kozhikode
4	IIM Calcutta
5	IIT Delhi
6	IIM Lucknow
7	IIM Mumbai (NITIE)
8	IIM Indore
9	Xavier Labour Relations Institute (XLRI)
10	IIT Bombay
11	IIM Raipur
12	IIM Rohtak
13	MDI Gurgaon
14	IIT Kharagpur
15	IIT Madras

Also Check: Top MBA Colleges

Best MBA Colleges in India With Fees

MBA fees vary from INR 5 lakh to 20 lakh in most colleges. The variable fee is due to multiple factors like College Type, i.e., whether the institute is Govt or Private. MBA Placements also impact the MBA course fee.

College Name	Total MBA Fees
IIM Ahmedabad	INR 23,00,000
IIM Bangalore	INR 23,15,000
IIM Calcutta	INR 27,00,000
IIM Lucknow	INR 20,10,000
IIT Kharagpur	INR 10,44,000
IIM Kozhikode	INR 17,50,000
IIM Indore	INR 15,60,000
IIT Delhi	INR 9,60,000
XLRI Jamshedpur	INR 23,60,000
MDI Gurgaon	INR 18,80,000
IIT Bombay	INR 9,76,000
IIT Roorkee	INR 8,20,000
NITIE Mumbai	INR 12,00,000
IIT Madras	INR 8,00,000
IIM Trichy	INR 18,00,000
IIT Kanpur	INR 3,00,000
IIM Udaipur	INR 6,16,000
SPJIMR Mumbai	INR 17,50,000
IIM Ranchi	INR 15,30,000

Best MBA Colleges in India Placement Wise

College Name	Average Salary
IIM Ahmedabad	INR 33 LPA
IIM Bangalore	INR 29.8 LPA
IIM Calcutta	INR 26.9 LPA
IIM Lucknow	INR 20 LPA
IIT Kharagpur	INR 18 LPA
IIM Kozhikode	INR 23 LPA
IIM Indore	INR 22.92 LPA
IIT Delhi	INR 22.69 LPA
XLRI Jamshedpur	INR 15 LPA
MDI Gurgaon	INR 10.5 LPA
IIT Bombay	INR 20.98 LPA
IIT Roorkee	INR 9.18 LPA
NITIE Mumbai	INR 20.8 LPA
IIT Madras	INR 14.38 LPA
IIM Trichy	INR 14.9 LPA
IIM Udaipur	INR 13.08 LPA
SPJIMR Mumbai	INR 26.36 LPA
IIM Raipur	INR 15.2 LPA
IIM Ranchi	INR 15 LPA

Best MBA Colleges in India: Top Recruiters

Aditya Birla Group	Ultra Tech
Accenture	Infosys
HSBC	Hindustan Unilever Limited
Deloitte	Myntra
Wipro	Yes Bank
Udaan	Uber
Swiggy	Infosys
Amazon	Kotak

Best MBA Colleges: Tier 1 MBA Colleges in India

With an acceptance rate of less than 2%, tier 1 colleges offering MBA courses form the best b-schools in the country.

They are usually ranked in the top 15 colleges and students get placed with the mean salary going as high as INR 25 LPA.
Some of the recruiters who visit Tier-1 MBA colleges are McKinsey, Goldman Sachs, Bank Of India, Merryl Lynch, and so on.

Institute	Annual Fees (in INR)	Average Salary Offered (in INR)
IIM Ahmedabad (IIM A)	11,50,000	25.83 LPA
IIM Bangalore (IIM B)	10,70,000	24.54 LPA
IIM Calcutta (IIM C)	27,00,000	25.40 LPA
IIM Indore (IIM I)	8,00,000	22.92 LPA
IIM Kozhikode (IIMK)	8,75,000	23.08 LPA
IIM Lucknow (IIML)	7,13,000	24.25 LPA
XLRI Jamshedpur (XLRI)	4,26,000	15 LPA
SPJIMR Mumbai	9,30,000	26.36 LPA
IIT Kharagpur	3,14,000	18 LPA
MDI Gurgaon	9,43,000	22 LPA

Best MBA Colleges: Tier 2 MBA Colleges in India

Tier 2 MBA colleges are ranked in the top 50 and are a good option after the tier 1 colleges.

You can fetch a minimum of INR 12-17 LPA by studying in a Tier 2 college.
Along with well-equipped infrastructure, the colleges have a decent faculty and placement cell.

Institute	Annual Tuition Fees (in INR)	Average Salary Offered (in INR)
Department of Management Studies, IISc Bangalore	2,56,000	10.2 LPA
Department of Management Studies IIT Madras	4,00,000	11 LPA
NMIMS Mumbai	9,25,000	17.58 LPA
Symbiosis Centre for Management and Human Resource Development, Pune (SCMHRD)	9,40,000	16.61 LPA
Symbiosis Pune (SIBM)	9,60,000	20.14 LPA
IIT Roorkee	4,21,000	14.727 LPA
IIM Rohtak	4,95,000	13.70 LPA
IIM Raipur	7,27,000	15.2 LPA
BITS Pilani	4,24,000	9.17 LPA
Banaras Hindu University	1,21,000	7.2 LPA

Best MBA Colleges: Tier 3 MBA Colleges in India

The colleges tabulated below come under the tier 3 colleges. Read the table below to know about the tuition fees and the salary offered.

Institute	Annual Tuition Fees (in INR)	Average Salary Offered (in INR)
GIM Goa	8,18,325	16.62 LPA
IIM Nagpur	7,42,000	12.40 LPA
IIM Amritsar	6,00,000	12.61 LPA
IIM Visakhapatnam	10,70,000	13.08 LPA
IRMA Anand	5,83,400	10.74 LPA
Welingkar Institute of Management, Mumbai (We-B)	5,50,000	9 LPA
MICA Ahmedabad	10,00,000	12.80 LPA

Best MBA College: How to Select Best B School?

The following are the parameters that one should consider while selecting the best B School:

MBA College Ranking

A stable rank and different accreditations earned such as AICTE, NAAC, UGC, and so on reflect a good reputation and the credibility of the institution.
Rankings on the basis of specialization are also taken into consideration while judging a B-school.
While IIM Ahmedabad, IIM Bangalore, and IIM Calcutta are good for marketing management, Narsee Monjee and XLRI are known for their Specialization in Finance.

Course Curriculum, Teaching Methods, and Faculty

The selection can be done on the basis of the pedagogy too, i.e., the teaching method that the institution follows.
There is 4 most important pedagogy involved in MBA, namely, lectures, case studies, experiential learning, and simulation.
Case studies form a productive method of teaching in the field of management.

MBA Placements

With the huge tuition fee paid, a student expects a high and satisfactory ROI during MBA Placements.
Therefore, the placement record of the institution is one of the most important parameters to judge it.
You can make a judgment by digging into the top recruiters, average salary, highest salary earned, etc.
For instance, XLRI is ranked 1 in terms of ROI with the average salary recorded is INR 22,35,000. In IIM Calcutta more than 350 companies visited last year.

Check: XLRI Jamshedpur Cutoff

MBA Internships

If the curriculum includes MBA internships, then it is considered a good factor when selecting the best MBA college.
This is because continuous interaction with the industry experts who are already in the field makes the learning more efficacious.
Hence, you should always research the industrial workshops arranged during the course of study.

Check: MBA Internships

MBA Fees and Cost of Living

Right from the MBA entrance exam to the admissions and tuition fees, students have to pay hefty amounts during the entire course.
There are a lot of merit-based scholarships available for MBA candidates.
For instance, the MBA Fees for IIM Calcutta is approximately INR 27,00,000 a year but there are a number of scholarships available for deserving candidates such as B.P. Poddar Scholarship, India Carbon Scholarship, and so on.

MBA College Acceptance Rate

The acceptance rate is inversely proportional to how ‘exclusive’ the college is.
The lower acceptance rate signifies that the institution is looking for a quality set of students.
While the acceptance rate of the top-tier colleges can be even less than 2%, the acceptance rate of Tier 2 and Tier 3 colleges are a bit more relaxed.

Best MBA Colleges in India as per Entrance Exams

Different colleges accept different MBA entrance exams. Some of the top MBA entrance exams are CAT, MAT, XAT etc

Best MBA Colleges in India Accepting CAT Scores

CAT is the most popular entrance exam in India for MBA courses. The CAT Cut Off for top MBA colleges in India is around 98-99 percentile.

Some of the top MBA colleges in India accepting CAT scores are:

Indian Institutes of Management (IIMs)
Indian Institutes of Technology (IITs) and National Institutes of Technology (NITs)
FMS Delhi
MDI Gurgaon
SPJIMR Mumbai
IMT Ghaziabad

Best MBA Colleges in India Through MAT

MAT is conducted by AIMA (All India Management Association) for admission in the top B Schools of India.

The exam consists of 200 MCQs and the syllabus includes Data Analysis & Sufficiency, Language Comprehension, Intelligence & Critical Reasoning, Mathematical Skills, and Indian & Global Environment sections.

Some of the top MBA colleges in India accepting MAT score are:

IIM Rohtak
Christ University, Bangalore
Department of Management Studies, IIT Madras
BIT Mesra Ranchi

Best MBA Colleges in India Through CMAT

CMAT is one of the national level MBA exams, conducted by the National Testing Agency (NTA), which also conducts JEE Main and NEET exams. The paper is divided into 4 sections namely, Quantitative Techniques and Data Interpretation, Language Comprehension, Logical Reasoning, and General Awareness.

Some of the top MBA Colleges in India Accepting CMAT score are:

SJMSOM, IIT Bombay
Great Lakes Institute of Management, Chennai
GIM North Goa
XIME Bangalore

Best MBA Colleges in India Through XAT

Accepted in more than 700 B-schools, XAT or Xavier’s Aptitude Test is conducted by XLRI Jamshedpur every year on the behalf of Xavier Association of Management Institutes. XAT 2022 has been conducted in January.

Some of the top MBA Colleges in India Accepting XAT score are:

IIM Lucknow
XLRI Jamshedpur
DoMS, IIT Madras
Great Lakes Institute of Management, Chennai

Best MBA Colleges as per Outlook Ranking 2023

Institute	Outlook Ranking 2023
IIM Ahmedabad	1
IIM Bangalore	2
IIM Kolkata	3
IIM Lucknow	4
IIM indore	5
IIM Shillong	6
IIM Ranchi	7
IIM Raipur	8
FMS New Delhi	9
JBIMS Mumbai	10
Pondicherry University	11
IIM Kashipur	12
Anna University, Chennai	13
GGSIPU Delhi	14
Panjab University	15
ABV IIITM Gwalior	16
Gujarat University	17
Madras University	18
IIM Nagpur	19
Maharaja Sayajirao University Of Baroda, Gujarat	20
IIM Amritsar	21
MANAGE Hyderabad	22
NSUT Delhi	23
Institute Of Insurance And Risk Management, Hyderabad	24

Best MBA Colleges In Delhi

The table below mentions some of Delhi MBA colleges as per NIRF ranking, including IIT Delhi, MDI Gurgaon, and many more.

College Name	NIRF Management Ranking 2023
Indian Institute of Technology Delhi	5
Jamia Millia Islamia	25
Indian Institute of Foreign Trade	27
International Management Institute	34
Fore School of Management	63
Guru Gobind Singh Indraprastha University	66
Jagan Institute of Management Studies	71
Jamia Hamdard	96
New Delhi Institute Of Management	99

Best MBA Colleges in Mumbai

Top MBA Colleges in Mumbai offer different management courses such as MBA and PGDM. The table enlists best MBA colleges in Mumbai, as per NIRF ranking.

College Name	NIRF Ranking 2023
National Institute of Industrial Engineering (IIM Mumbai)	7
IIT Bombay	10
S P Jain Institute of Management and Research	20
SVKM’s Narsee Monjee Institute of Management Studies	21
K. J. Somaiya Institute of Management Studies & Research	45
Principal L N Welingkar Institute of Management Development and Research	73

Best MBA Colleges in India: FAQs

Ques. How do you get the best MBA college?

Ans. Ensuring that you get the best MBA college depends on multiple factors like Entrance Exam Choice, MBA College Choice, Academic Performance, Perfect Timing, etc.

MBA entrance exam choice can help you land in the perfect college for you, and the better your college, the better will the be the quality of MBA education offered.
A good MBA college is one that has a good track record of MBA Placements, Faculty is good and the overall grooming for the management industry is better than others. Recruiters do not just look for your marks but also the skills you have earned in your management education.
A good MBA degree is not just the responsibility of the college but also yours. A good academic performance marked with active participation in events and seminars organized by various hubs in the college and also with decorated internships is really important.

Ques. What is the fees of MBA?

Ans. The total fee varies from college to college and it ranges from INR 2- 30 LPA.

Ques. Which is the best college to do MBA in India?

Ans. IIM Ahmedabad is the best college to do MBA in India if we go according to NIRF Ranking and various other ranking surveys. IIM Ahmedabad offers General MBA and MBA in Food & Agri-Business Management, and the average MBA salary here is INR 33 LPA.

Apart from IIM Ahmedabad, there are plenty of other good MBA colleges in India, including IIM Bangalore, IIM Calcutta, IIM Lucknow, IIM Trichy, FMS Delhi, SPJIMR Mumbai, MDI Gurgaon, IIFT Delhi, etc. NITIE Mumbai is also a good government MBA college and it has shown a good improvement of 17 ranks in NIRF MBA Ranking this year.

Ques. Which MBA college gives highest salary?

Ans. IIM Ahmedabad has made the record by offering the highest salary at INR 1.32 crore in 2020 MBA Placements. In addition to it, some other colleges with highest MBA salary are IIM Calcutta, IIM Lucknow, FMS Delhi, Narsee Monjee Mumbai, SPJIMR Mumbai, IIM Kozhikode and NITIE Mumbai. All of these colleges have secured the highest package of MBA above INR 50 lakh per annum (LPA).

Ques. Can I get admission in MBA without CAT?

Ans. Yes, there are various MBA entrance exams other than CAT through which you can get admission in MBA course.

Some of the top MBA entrance exams in India are MAT, XAT, CMAT, NMAT, SNAP, ATMA, IBSAT, etc.
There are various state level MBA entrance exams also like MAH CAT, UPSEE MBA, TANCET, KMAT, Karnataka PGCET, OJEE, etc.
Many college also accept the score of international exams like GMAT and GRE. IBS Hyderabad is one such MBA college.

Ques. Does college name matter in MBA?

Ans. Yes, MBA college name does matter. Many people say that it is about skills and knowledge in the end, but trends and data show that MBA college name does matter. From campus recruitment to off-campus placements, recruiters do look for candidates with a good resume listing a premier MBA college, as these colleges have established a reputation for themselves. Students of IIMs and IITs have received better job offers compared to students of other Tier 2 and Tier 3 MBA colleges.

Ques. Is it okay to do MBA from an average college?

Ans. Doing an MBA from an average college has its pros and cons.

MBA admission in premier colleges like IIMs are expensive and normal colleges can offer you the same education at a very cheap MBA cost.
The placements at Tier 2 and Tier 3 MBA colleges do not match the level of IIMs, but the salary package here is also good and often in 7 digits only. This, in turn, improves the ROI offered by the college.
If you earn the requisite skills during the 2 year tenure and become capable enough, then you can also apply for off-campus placements and get a good job.

Ques. Is MBA worth in India?

Ans. If pursued from Best MBA Colleges, MBA is definitely worth it in India, as MBA colleges in India have an affordable tuition fee and offer a higher ROI than MBA Abroad

Ques. What is the MBA Admission fee in top MBA colleges in India?

Ans. The average fee in top MBA colleges in India is INR 10-15 lakhs but it can go up to INR 25-30 lakhs in some IIMs.

Ques. How can I improve my chances to get admission in top 10 MBA colleges in India?

Ans. You can score more than 95% in your graduation, score 99% in CAT and other entrance exams, and also do well in MBA GD/PI rounds to get admission in top 10 MBA colleges in India.