Top MBA Colleges in India 2024: Fees, Admissions, Placements & Rankings

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Update at Apr 19, 2024, 6:01 am

India is a land of budding entrepreneurs and hence perhaps the best place to get an MBA degree. As per Statista, about 26000 thousand startups dot the country, thus offering a platform to learn and gain business acumen. India is known for its Indian Institute of Management (IIM) which is globally famous. Additionally, there are thousands of other accredited MBA Colleges in India which are known for their outstanding course curriculum and amazing placements.

Best MBA Colleges in India: Highlights 2024

India boasts some of the most popular and premier MBA colleges. It is home to about 20 reputed IIMs, 11 XAT-level colleges, and more than 4000 private MBA colleges that have carved a niche for themselves. IIM Ahmedabad, one of the best MBA colleges in India ranked 1st by NIRF, also has a 35th rank globally, which speaks of its impeccable quality. Also, MBA colleges in India have top-notch course curriculum, which is generally an amalgamation of theoretical, case-based, and pragmatic approach. 

Top 10 MBA Colleges in India 

S.No

Colleges

City

NIRF Ranking

Category

Entrance Exam Accepted

1

Indian Institute of Management, IIM Ahmadabad

Ahmadabad

1

Government

GMAT,  GRE,  CAT, GATE

2

Indian Institute of Management, IIM Bangalore

Bangalore

2

Government

CAT

3

Indian Institute of Management, IIM Kozhikode

Kozhikode

3

Government

CAT, GRE, GMAT

4

Indian Institute of Management, IIM Calcutta

Kolkata

4

Government

GMAT + PI

5

Indian Institute of Technology, Delhi

Delhi

5

Government

CAT

6

Indian Institute of Management, IIM Lucknow

Lucknow

6

Government

CAT, GMAT, NTA, CUET-PG

7

National Institute of Industrial Engineering, IIM Mumbai

Mumbai

7

Government

CAT

8

Indian Institute of Management, IIM Indore

Indore

8

Government

CAT, IPMAT

9

XLRI-Xavier School of Management, Jamshedpur

Jamshedpur

9

Private

XAT, GMAT

10

Indian Institute of Technology, IIT Bombay

Mumbai

10

Government

CAT, JEE Main, JEE Advanced

How to Get Admission to the Best MBA Colleges in India?

To get admission to the best MBA colleges in India, various factors need to be kept in mind. Here is a complete checklist to help you through each step:-

Eligibility Criteria

To be eligible to sit for entrance exams, you need to be a graduate or have a bachelor’s degree in any field. Bachelor in Fine Arts is not eligible, but apart from that, all the streams can sit for the various MBA entrance exams.

MBA Entrance Exam

The next step is to research the MBA exam which you wish to sit for. So, different colleges accept different scores, for example, the IIMs accept the CAT score, while Narsee Monjee Institute of Management and Studies has their exam which is the NMAT. IIFT and Symbiosis also have their exams. Hence, it is advisable to thoroughly research every exam, and then decide on which to sit for. Also, the pattern of each exam is different and therefore, one needs to embrace and get familiar with the pattern so that they can ace them with flying colors. 

Cut-off Score for Admission

Every college has its cut-off score based on which it calls candidates for their next steps of evaluation. The cut-off for top MBA colleges in India like IIMs is as high as 99 percentiles while those of other colleges may vary depending on the number of seats they have. 

Group Discussion/Personal Interview

Once you clear the written examination, you are invited for GD/PI process by the respective colleges you had applied for. Generally, one round of group discussion happens and there may be one or more than one round of Personal Interview to gauge one’s personality. 

Selection Criteria

The scores for each round are taken into account for evaluation purposes. Some of the top MBA colleges in India colleges also consider work experience and give weightage to it for their final selection. 

Final Letter of Acceptance

Once you clear all the rounds, a letter of acceptance is issued by the college. And voila, now you can join your dream college.

Counselling Session

Colleges keep either virtual webinars or have one-on-one counseling sessions available, to guide the students to select a college of their choice. The sessions also aid in helping students choose a stream of their choice.

The Complete Guide to the Fee Structures of Top 10 MBA Colleges in India

The top 10 MBA colleges in India include the IIM which is considered to be one of the prestigious B-schools all over the world. Their high-class infrastructure, mode of teaching, and foreign exchange programs all aid in giving them the coveted niche. Hence, their fee structure is also designed in a manner that matches their academic quality. 

The fee structure of the colleges varies between 20- 30 lakhs, depending on the college, whether they include foreign exchange programs,s and other factors like accommodation facilities. The fees are justifiable as the average placement package of these top ten colleges is more than their total tuition fees. 

Further private MBA Colleges in India are a little steep ranging anywhere between 12- 25 Lakhs, depending upon location, credentials, and other parameters. 
It is also worth noting that the fees of Government MBA Colleges in India are considerably less as compared to private colleges. In fact, the starting range is as low as 50,000/- INR for some of the government colleges, thus making it affordable for one and all. 

What Entrance Exams are Required for MBA Colleges in India?

The key to admission to any top B-school is via an MBA exam. Some of the popular MBA entrance exams in India are as follows:-

1). CAT (Common Admission Test)

  • Registration Date: 4 August 2024
  • Last Date: 15 September 2024
  • Exam Date: 24 November 2024

One of the most popular exams in India, the CAT is considered to be your gateway for admission to top B-schools. The paper of CAT is one of the toughest in the country. It consists of a mix of MCQs and subjective questions. Sections are Quantitative Aptitude, Verbal and Reading Comprehension, and Logical Reasoning.

The two-hour test is designed in a way to evaluate one’s intelligence quotient. The mode of the exam is online, though you need to go to the allocated centers to complete them. One thing to keep in mind is that for each wrong question, there is a negative marking, which makes this exam a tough one. If you want to get admission to one of the best MBA Colleges in India, you should sit for CAT exam. 

2). XAT (Xavier Aptitude Test)

  • Registration Date: NF
  • Last Date: NF
  • Exam Date: 7 January 2024

Xavier Aptitude Test is another national entrance exam, that helps in getting admission to reputed institutes like XLRI Jamshedpur, and XIMB and even colleges like IMT Ghaziabad accept these scores. The exam pattern is a little different consisting of 101 MCQs. There are three main sections, one consists of Verbal Ability, Quantitative Aptitude, Decision-making, and Logical reasoning, the second is keyword testing and the third section is Analytical Essay Writing alongside General Knowledge questions. 

3). NMAT (Narsee Monjee Aptitude Test)

  • Registration Date: NF
  • Last Date: NF
  • Exam Date: NF

Narsee Monjee Management Aptitude Test or NMAT is an entrance exam that helps in getting admission not only in Indian colleges but also colleges across four other countries. It’s a two-hour exam with MCQ-type questions consisting of sections like English language, Quantitative Aptitude, and Logical Reasoning. One unique feature of this exam is that allows one to retake the exam within a given time frame. 

4). MAT (Management Aptitude Test)

  • Registration Date: 4th week of March 2024 (Tentative)
  • Last Date: 1st week of May 2024 (Tentative)
  • Exam Date: NF

Most of the top MBA colleges in India accept MAT scores too. It’s a national-level entrance exam that consists of 5 sections each carrying forty marks. The sections are Data Analysis and Sufficiency, Indian and Global Environment, Mathematical Skills, Intelligence and Critical Reasoning, and Language Comprehension. MAT is held four times in a year, so you get ample opportunities to take it up. 

5). GMAT (Graduate Management Admission Test)

  • Registration Date: NF
  • Last Date: NF
  • Exam Date: NF

The Graduate Management Aptitude Test is another examination that is an international-level entrance test for admission to B-Schools. It’s a three-hour-long paper with different sections like Verbal Reasoning, Quantitative Aptitude, Data Insights and Integrated Reasoning. There is a time limit for each section thus encouraging students to focus on time management. Also, if you want to ace the exam, it is important to have a strong base in logical reasoning. 

In addition to the above-mentioned exams, there are other MBA entrances like IBSAT, IIFT, SNAP, and state-specific MBA ones like AIPCET, TANCET, and others, helping you to gain admission in state-level MBA colleges. 

MBA Colleges In India with No Entrance Exam Requirement

Yes, some MBA colleges take students without any MBA entrance exam. Colleges, like SOIL, shortlist candidates based on their set cut-off score in graduation to complete their seat count.  Further, few colleges have management or NRI quotas, that admit students without any entrance exam. However, it is always suggested to check for accreditation of the colleges to ensure that there are no scams.

What are the Best Private MBA Colleges in India?

India is proud to have some of the Best Private MBA Colleges in India which are known for their amazing infrastructure, state-of-the-art facilities, and top-notch faculty members. Some private colleges also offer foreign exchange programs, thus offering a platform for students to get a certificate degree from an abroad institute.

Here Is a List of Some of the Prominent Private MBA Colleges in India:-

S.No

 Colleges Names

 Fees

 NIRF Ranking

Eligibility

Entrance Exam

1

XLRI-Xavier School of Management, Jamshedpur

21L - 29L

9

Graduation 50%

 XAT, GMAT

2

Management Development Institute, MDI Gurugram

23L - 25L

13

Graduation 50%

CAT, XAT, MAT, GMAT

3

Kalinga Institute of Industrial Technology,  KIIT Bhubaneswar

7L - 10L

16

Graduation 50%

MAT, XAT, CAT, CMAT, KIITEE Management, OJEE, KIITEE, CUET-PG, ATMA

4

Symbiosis Institute of Business Management,SIBMPune

22L - 24L

17

Graduation 50%

      SNAP

5

 Shreyans Prasad Jain Institute of Management and Research, SPJIMR

20L - 21L

20

Graduation 50%

CAT

6

NMIMS School of Business Management, Mumbai

6L - 24L

21

Graduation 50%

NMAT

7

ICFAI Foundation for Higher Education, Hyderabad

15L - 16L

40

Graduation 50%

CAT, NMAT, IBSAT

8

Lovely Professional University, LPU

2L - 10L

46

Graduation 55%

LPU NEST, MAT, XAT, CAT, NMAT, CMAT

What are the Best Government MBA Colleges in India?

Getting a coveted MBA degree from one of the Government colleges of India, adds credibility to your profile, adding it to the levels of success. There are many government MBA Colleges in India that have reasonable fee structures and fantastic placements. Enlisted are the colleges.

S.No

 Colleges Names

 Fees

 NIRF Ranking

Eligibility

Entrance Exam

1

Indian Institute of Management, IIM Bangalore

24L - 25L

2

Graduation 50%

 CAT

2

Indian Institute of Management, IIM Lucknow

12L - 20L

6

Graduation 50%

CAT, GMAT, NTA, CUET-PG

3

Indian Institute of Technology, IIT Roorkee

4L - 8L

8

Graduation 60%

CAT, GATE, JEE Advanced

4

Indian Institute of Management,IIM Raipur

8L - 16L

11

Graduation 50%

 CAT

5

Indian Institute of Management, IIM Rohtak

9L - 18L

12

Graduation 60%

CAT, IPM Aptitude Test

6

Indian Institute of Management, IIM Udaipur

17L - 20L

16

Graduation 50%

 CAT

7

Indian Institute of Management, IIM Kashipur

15L - 17L

19

Graduation 50%

CAT

8

Indian Institute of Management, IIM Tiruchirappalli

 16L - 19L

22

Graduation 50%

 CAT

Fee Structures of Top 10 MBA Colleges in India

S.No

 Colleges Names

 Average Fees

 Total Seats

1

Indian Institute of Management, IIM Ahmedabad

  25L

385

2

 Indian Institute of Management, IIM Bangalore

  24L - 25L

565

3

 Indian Institute of Management, IIM Lucknow

  20. 75L

 490

4

Indian Institute of Management, IIM Kozhikode

12L

525

5

  Indian Institute of Management, IIM Indore

  21.14L

 450+150

6

  Indian Institute of Management, IIM Calcutta

  27L

 462

7

   Indian Institute of Technology, IIT Bombay

   5.24L

 152

8

 XLRI-Xavier School of Management, Jamshedpur

  4L - 30L

 1310

9

Indian Institute of Technology, Delhi

  9.60L

 115

10

Indian Institute of Technology, IIT Madras

9.14L

68

Top MBA Colleges in India Based on NIRF Rankings in 2024

National Institutional Ranking Framework (NIRF) is prepared by MHRD (Ministry of Human Resource Development) and takes into account various parameters such as learning and teaching techniques, outreach, research, and inclusivity. The ranks stand as a testament to the college’s quality of education and serve as a credential to their academia. 
If you are looking for MBA colleges based on the NIRF Rankings, then IIMs is the first choice. All the IIMS have taken up the space in the top 10 colleges. Other premier colleges that have etched their position in the list are NITTIE, IIT Delhi, and IIT Mumbai. 

Which MBA College in India Provides the Highest Salary Opportunities?

The MBA college that tops the highest salary option is IIM Ahmedabad. For the year 2023, the highest salary clocked at placement was a whopping 1.2 crore for international placement and 75.02 Lakhs for domestic placement making it one of the best MBA colleges in India. Other IIMS and XLRI’s are other colleges that are on the list of offering high salary packages. 

Top MBA Colleges in India Based on Placement

One of the dreams of taking admission in a premier MBA college is to land a dream job which is a dream salary package. India is proud to have colleges that have great professional connections with corporates and MNCs, thus providing some of the best placements to the students. Here is a list of top MBA colleges that you can select based on the parameters of placement. 

Which MBA Specialization is Highly in Demand?

Though all the streams of MBA have their own set of opportunities, General Management is the specialization that is highly in demand. Based on the fact, that managerial positions after a certain level require knowledge in almost all segments like marketing, finance, and human resources, the best specialization that one can have in the present scenario is that of “General Management.” Most of the IIMs offer a General Management degree and have thus curated the course in such a way that it amalgamates the essence of each stream beautifully.  Many government MBA Colleges in India also offer general management as the degree thus opening avenues of opportunities for the students to explore. India is a land of budding entrepreneurs and hence perhaps the best place to get an MBA degree. As per Statista, about 26000 thousand startups dot the country, thus offering a platform to learn and gain business acumen. India is known for its Indian Institute of Management (IIM) which is globally famous. Additionally, there are thousands of other accredited MBA Colleges in India which are known for their outstanding course curriculum and amazing placements. 

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