Businesses have expanded their scope, as has the degree of Master in Business Administration. Gone are the days when only IIMs were considered as the best MBA colleges in India. Today, several colleges offer MBA courses, too, with the best faculty and curriculum.
If you opt for an MBA program, you can choose from these colleges according to their rankings and fees. To make the choice easier, we have compiled a list of the best MBA colleges in India. Please continue reading to uncover many aspects about the best colleges for MBA in India, their rankings, and other information that can help you make a calculated decision.
Top 10 Best Colleges for MBA in India
Over 5000 government and private colleges in India offer MBA courses. There are several specializations which are catered by these colleges/institutes. Let us now read about the top 10 colleges for MBA in India based on the IIRF rankings and several other factors.
Indian Institute of Management (IIM), Ahmedabad
Sprawling across 102 acres, the IIMA campus is one of India’s top educational institutions for MBA today. It was awarded the number 1 spot by IIRF repeatedly since 2021.
You can opt for a full-time residential program for the same or get a one-year full-time degree (if you are an experienced professional). Additionally, you can get a hybrid management program or fellowship program according to your interests and preferences.
The subject course includes accounting and finance, business management, and economics, which are taught to instil the best skills and insights about the business world. It is not a surprise that companies around the globe come to offer placements to the students of IIM Ahmedabad.
Faculty of Management Studies, University of Delhi, Delhi
Established in 1954, the Faculty of Management Studies is one of the most renowned institutes for MBA in Delhi and the country. In 2023, this renowned University held the 5th ranking by the IIRF. According to a survey by Business Today, it held the 8th rank in 2023.
Being one of the premier institutes in India, it has the reputation of having the best faculty and alumni. Sandip Das, and Mahesh Verma, are a few of its prominent alumni. When it comes to the courses, there is more focus on practical and conceptual knowledge. It has the best placement performance too.
National Institute of Industrial Engineering (NITIE), Mumbai
Holding the All-India rank of 7 awarded by the IIRF survey, the National Institute of Industrial Engineering is one of the premier institutes for postgraduate degrees in MBA.
The average salary offered to final-year MBA aspirants is Rs 12.7 Lakhs per annum. It has good placement strategies as well as Industrial Income. Unlike other colleges, this institute offers a wide variety of subjects. Some popular ones are Digital Forensics, General Management, Economics, and Retail Management.
Shailesh J Mehta School Of Management, (IIT Mumbai), Mumbai
After holding the 12th IIRF ranking in 2022, the Shailesh J Mehta School Of Management jumped four places to rank number 8 in 2023. Its flagship MBA program is considered one of the best in the country.
Some notable alumni gracing this institute are Ganesh Natarajan and Ashish Dwivedi. A postgraduate course ranging from E-commerce and digital marketing to accounting and finance helps one learn all there is to learn in business. The tuition fees of the MBA program range from Rs 8-20 lakhs, depending upon the specialization you choose.
Indian Institute of Foreign Trade (IIFT), New Delhi
IIFT is deemed to be a University in Delhi and has become a hub of learning and simultaneously excelling in the field of business. It bagged the 9th overall ranking in 2023.
The placement performance and pedagogy techniques are above average compared to other institutes. Research faculty and record also undertake studies in the World Trade Organisation, United Nations Conference on Trade and Development (UNCTAD), World Bank, and even the Ministry of Commerce and Industry in India.
Jamnalal Bajaj Institute of Management Studies, Mumbai
Located in the heart of Mumbai, The Jamnalal Bajaj Institute of Management Studies offers a full-time MBA and a Master’s in Finance or a Master’s in Human Resource and Development Management. The course fee for an MBA ranges between Rs 6-7 Lakh, making it a comparatively affordable course in India. The institute boasts an average package of Rs 14-26 LPA for its alumni.
It holds an enviable record of having famous business leaders like Uday Kotak and Nitin Paranjpe as its alumni. Thanks to its history and achievements, global companies offer placement drives and internships to students.
Indian Institute of Management, Indore
Another famous business school, the 6th IIM established in the country, is the Indian Institute of Management, Indore. Although it is relatively new, it has quickly made its place among the top business universities in the country. In 2023, it held the rank of number 12 in the entire country.
One can enroll in a Post Graduate MBA program or sign in for an Executive Post-Graduate Programme in Management. Its state-of-the-art infrastructure and programs have enhanced students’ learning process.
IIM has the reputation of having the maximum internships for its students. In 2023, over 160 recruiters from top companies hired 568 students from the institute.
Department of Management Studies, IIT Delhi, New Delhi
Ankur Dhingra, Gaurav Aggarwal, and many more successful business leaders have graduated from this prestigious institute. The IIRF gave it the 14th spot, and it performed fairly well in the placement strategies and support parameters.
The course in Business and Economics offered by this institute allows students to learn about economics, business, and general management. You can enrol in a full-time MBA or three-year evening course on campus. Both the faculty and the course curriculum are a blend of theoretical and functional skills.
ITM Business School, Navi Mumbai
Greatly dedicated to business management courses such as MBA and PGDM, the Institute for Technology and Management is another prominent institute for MBA in India. It boasts a placement rate of 100% and helped its students obtain a package of Rs 21 LPA in 2022 placements.
Every year, companies like Amazon, Deloitte, JP Morgan, LG, Voltas, HDFC, and more turn out to be the top recruiters in the placement drives of the institute. The Outlook Survey 2022 ranked ITM Business School as the 14th best B-School in Mumbai. ITM has acquired its accreditation from the NBA and is also approved by AIU and AICTE.
However, it is a pricey college, and the cost of pursuing a 2-year MBA program at ITM Business School is around Rs 10.45 Lakhs. Also, it would be best if you scored well in your CAT, MAT, NMAT, XAT, or any other relevant entrance exam to get admission.
Indian Institute of Management, Bangalore
Amongst the most prestigious Indian colleges for MBA, IIM Bangalore definitely makes it to the top 10. It is located in India’s high technology capital- Bangalore- and is a centre of excellence for business management courses. The college was established in 1973, and since then, it has been one of the best government institutes for MBA and relevant courses.
In 2023, IIM Bangalore provided placements to 512 students, offering the highest average salary (Rs 35.31 Lakhs) compared to any other government institution. Several facilities, such as a gym, sports complex, auditorium, library, labs, cafeteria, etc., make it an educational hotspot for aspiring students.
However, getting admission into IIM Bangalore is highly competitive, and you need to showcase your excellence by getting the best results in your CAT exam.
Final Words
All the colleges/universities/institutes mentioned above are highly acclaimed for offering MBA and other relevant courses. The process of admission to these institutes is quite strenuous, and the competition is cut-throat. To grab your spot in the university of your choice, you must begin preparing for the entrance tests with full dedication.
Also, you must carefully choose the specialization for your MBA course to ensure the course is highly beneficial for your career growth. With the help of the top institute’s education and placement assistance, nothing can stop you from building a robust career in your preferred field!
Frequently Asked Questions
What is the ranking order of business schools in India in 2023?
Answer:In 2023, the best 5 B-Schools were ranked in the following order: IIM Ahmedabad, IIM Bengaluru, IIM Kolkata, IIM Lucknow, Faculty of Management Studies, University of Delhi.
Which college in India is the best for MBA?
Answer:According to the NIRF rankings, while several IIMs in India offer best-in-class education, IIM Ahmedabad is considered the top MBA College in India in 2023. .
Which MBA specialization is the best in 2023?
Answer: Several specialisations in MBA, such as MBA in Finance, Marketing, Human Resources, Business Analytics, Information Technology, Digital Marketing, etc. are very famous in 2023 and help students get amazing jobs at great firms.
Which MBA college is known to offer the best placements?
Answer:Several Indian MBA Colleges, such as IIFT, IIM Kozhikode, Great Lakes Chennai, Taxila Business School Jaipur, etc, are known to offer the best placement opportunities to the students.
