Top MBA Institutes in India: A Guide for 2024 Admissions

We normally think of the IIMs when considering top MBA institutes in India. The situation has altered over time, and various additional MBA colleges have made it onto India’s list of top MBA colleges in 2024. The Indian Institutes of Management (IIMs), XLRI, ISB, IIT, SPJIMR, FMS Delhi University, MDI, IMT, and numerous other institutions are among the best MBA colleges in India. This article offers a list of the best MBA programs.

To assist you in making an informed career decision, we have prepared a table that lists the top 30 business schools in India, along with their flagship program, tuition costs, entrance exam, NIRF ranking, and average pay post-MBA.

MBA Rankings in India 2024 (Top MBA colleges ranked till #15)

Based on post-MBA salary, we have ranked the top MBA colleges in India. The following is a list of the top 30 MBA colleges in India in 2024:

Sr.no	NIRF 2022 Ranking	Top MBA Colleges in India	Program	Average/Mean/Median Salary (INR)	Fees(Domestic)	Accepted Exam
1	3	IIM Calcutta	PGP	34,20,000	24,00,000	MDI Gurgaon – Management Development Institute
2	NA	Indian School of Business (ISB)	PGP	34,08,000	41,98,000	GMAT/GRE
3	2	IIM Bangalore	PGP	33,82,000	24,50,000	CAT/GMAT
4	1	IIM Ahmedabad	PGP	33,81,865	23,00,000	CAT/GMAT
5	NA	FMS Delhi	MBA	32,40,000	20,960	GMAT/CAT
6	21	SPJIMR Mumbai	PGDM	32,05,000	20,42,000	GMAT/CAT/XAT
7	6	IIM Lucknow	PGP	31,03,000	19,25,000	CAT/GMAT
8	8	XLRI Xavier School of Management	PGDM (Business Management)	30,70,000	23,60,000	XAT/GMAT/CAT
9	5	IIM Kozhikode	PGP	29,50,000	20,50,000	CAT/GMAT
10	NA	JBIMS	MMS	27,63,000	6,00,500	MAH CET/CAT/CMAT
11	11	IIT Bombay – Shailesh J Mehta School of Management Mumbai	MBA	25,90,000	9,06,400	CAT
12	24	Indian Institute of Foreign Trade (IIFT Delhi)	MBA in International Business	25,16,000	21,77,314	IIFT/ GMAT
13	7	IIM Indore	PGP	25,01,000	21,14,222	CAT/GMAT
14	13	MDI Gurgoan – Management Development Institute	PGDM	23,80,000	28,16,200	CAT/GMAT
15	26	IIM Shillong	PGP	23,10,000	14,60,000	CAT/GMAT

Source

Apart from IIMs, other well-known top management institutes in India include XLRI, ISB, SP Jain, FMS Delhi, and MDI Gurgaon.  

When examining post-MBA salaries at India’s best business schools, it is impossible to disregard the cost of obtaining an MBA. The average college tuition included in the table is around INR 20,00,000. However, there are additional expenditures to consider aside from your tuition amounts, such as living expenses during your MBA, hostel fees, and mess fees.

List of Top 10 MBA Institutes in India 2024

The following are the top ten MBA colleges in India:

• IIM Bangalore
• IIM Calcutta
• ISB
• IIM Lucknow
• FMS Delhi
• SPJIMR Mumbai
• XLRI, Jamshedpur
• IIM Indore
• MDI – Gurgaon
• IIM Ahmedabad

1) IIM Bangalore: 

The Indian Institute of Management Bangalore (IIM Bangalore or IIMB) is a public business school and National Institute of Importance in Bangalore, India. It was the third IIM to be created, following IIM Calcutta and IIM Ahmedabad.

Postgraduate, Doctoral, Executive Education, and Certificate Programs are available at the institute. The MBA program is the BSchool’s flagship program, and it is available in three formats: one year full-time, two years full-time, and two years executive (weekend). The Post Graduate Programme in Management (PGP) is the traditional flagship two-year full-time residential MBA program for applicants with 0-4 years of experience who have been admitted via the Common Admission Test (CAT).

2) IIM Calcutta: 

In November 1961, the Government of India established the Indian Institute of Management Calcutta (IIMC) as the first national institute for Post-Graduate studies and Research in Management in collaboration with the Alfred P. Sloan School of Management (MIT), the Government of West Bengal, The Ford Foundation, and Indian industry. Several important faculty members, like Jagdish Sheth and J. K. Sengupta, were members of its nucleus during its early years.

Over time, IIMC has matured into a mature institution with a global reputation for providing high-quality management education. Through its Post Graduate and Doctoral level programs, Executive Training Programs, and Research and Consulting Activities, it has been a pioneer in professionalizing Indian management.

3) ISB (Indian School of Business): 

Located in Hyderabad and Mohali, it is a leading business school. ISB stands out for its globally renowned faculty, diverse student body, and strong alumni network. The institute emphasizes experiential learning, international exposure, and entrepreneurship, making it a preferred choice for aspiring business leaders.

4) IIM Lucknow: 

The Indian Institute of Management Lucknow (IIM Lucknow or IIM-L) is a public business school located in Lucknow, Uttar Pradesh, India. The Government of India founded it in 1984 as the fourth Indian Institute of Management (IIM). IIM Lucknow offers post-graduate diplomas, fellowships, and executive management programs. It has been designated an “Institution of Excellence” by India’s Ministry of Human Resource Development. 

The newly founded IIM Jammu, IIM Rohtak, and IIM Kashipur are also mentored by IIM Lucknow. It was also a mentor institute for IIM Sirmaur till 2018. The institute offers various management programs and specializes in finance, marketing, and operations management. IIM Lucknow is known for its case study-based teaching, industry collaborations, and extensive corporate networking, contributing to its high placement record.

5) FMS Delhi: 

Faculty of Management Studies, Delhi, is one of the oldest business schools in India. Known for its affordable fees and excellent ROI, FMS Delhi offers a two-year full-time MBA program with various specializations. FMS Delhi has a strong reputation for placements, with students being recruited by top companies across sectors.

6) SPJIMR Mumbai: 

SP Jain Institute of Management and Research, Mumbai, is a leading business school known for its unique pedagogy and focus on developing socially responsible business leaders. SPJIMR is highly regarded for its experiential learning approach, emphasis on ethical practices, and strong industry partnerships, which lead to excellent placement opportunities for students.

7) XLRI, Jamshedpur: 

Xavier School of Management, popularly known as XLRI, is a premier business school in India. XLRI offers various management programs with specializations in areas like human resources, finance, marketing, and operations management. The institute is known for its strong academic curriculum, experienced faculty, and emphasis on ethics and sustainability. XLRI has a stellar track record of placements, with students securing offers from reputed national and international companies.

8) IIM Indore: 

Indian Institute of Management Indore is known for its academic excellence, rigorous coursework, and innovative teaching methods. The institute offers a range of management programs and is particularly renowned for its specialization in analytics and data science. IIM Indore has a strong industry interface, tie-ups with leading companies, and a dedicated placement cell that ensures students receive excellent job offers.

9) MDI Gurgaon: 

It is a top-ranked business school. The institute offers a range of management programs and specializes in areas like finance, marketing, and operations management. MDI Gurgaon has a robust corporate network, facilitating internships, live projects, and final placements for its students.

10) IIM Ahmedabad: 

Indian Institute of Management Ahmedabad is one of India’s most valuable business schools. Known for its academic rigour, global exposure, and renowned faculty, IIM Ahmedabad offers various management programs. The institute emphasizes a case study-based learning approach and strongly focuses on entrepreneurship and innovation. IIM Ahmedabad has consistently achieved high placement records, attracting top recruiters from national and international markets.

Wrapping Up

Finally, selecting the best MBA institutes in India for your 2024 admissions is a critical decision that will influence your career path. Over the years, the landscape of MBA education in India has changed dramatically, with various colleges emerging as major rivals. This guide has provided an overview of some of the country’s top MBA programs, highlighting their distinguishing characteristics and capabilities.

While rankings and reputation are crucial considerations, it is also critical to match your personal goals and aspirations to the institute’s programs. Curriculum, faculty knowledge, industry ties, and alumni network are all important factors in determining your MBA experience and post-MBA employment prospects.  It is important to note that each MBA program has its own particular culture and learning environment. Visiting campuses, speaking with current students and alumni, and attending information sessions can provide vital insights into the institute’s ethos and assist you in making an informed selection.