Looking for top MBA colleges in India? MBA colleges (or B-schools) are the most important part of business study. In my earlier article All you need to know about MBA, I have already explained the most important things about MBA and other business courses. In this article I am going to list the best MBA colleges in India in 2022.
While COVID-19 disturbed the rhythm of business education, MBA was one of the courses that didn’t see much decline. However all the classes of MBA were disrupted and the students are waiting for their courses to finish in 2022. Even CAT exams didn’t see many candidates appearing for the exam.
Now as colleges are getting open, the demand for MBA admission in 2022 is going to see a boom. If you are looking to get an MBA degree, now is an excellent opportunity for you to strive and earn the advantage of connecting to a blossoming sector.
Why choose the Top MBA Colleges?
If you are really looking to join a college, be sure to opt for the best MBA colleges in India, like IIMs. IIMs take admissions using their CAT exam – which is scheduled for November 2022 this year. I have already written a guide on how to prepare for the CAT Exam, do have a read.
Now, note that not everyone can get into IIMs. Seats are too low compared to the candidates. You have very little chance of admission, even with a 99 percentile score under your belt. Worry not, in addition to these IIMs, there are some awesome colleges that provide global level MBA programs. There are other MBA entrance examinations as well – like XAT, MAT, SNAP etc. So apply for these as well, work hard and wish for the best. Always choose the best of the lot and opt for the B-schools that are better and worth giving your career’s drivers seat.
Here are a couple of reasons why you should opt for these top MBA colleges in India:
- Reputation: Having a degree from a top-notch college gives you what you need the most: reputation. MBAs from these top MBA colleges are highly respected in their fields and they get better job positions in popular companies.
- Best Salaries: Top B-Schools/MBA colleges offer elite level campus selection. Most selected students get 3 to 30 times extra salary when compared to selections from other colleges with the same course.
- Best Brands: Top B-schools attract top brands from across the country and the world. By moving from the best schools to the best workplaces – you give your future a great boost. You earn better, you live better and you get a better career prospectus.
Top 100 MBA Colleges in India in 2023
- Indian Institute Of Management, Ahmedabad
- Indian Institute Of Management, Kolkata
- Indian Institute Of Management, Bengaluru
- Faculty Of Management Studies, University Of Delhi, Delhi
- Indian School Of Business, Hyderabad
- Indian Institute Of Foreign Trade (IIFT), New Delhi
- Indian Institute Of Management, Lucknow
- Xavier Labour Relations Institute (XLRI), Jamshedpur
- Management Development Institute (MDI), Gurgaon
- S P Jain Institute Of Management And Research (SPJIMR), Mumbai
- Indian Institute Of Management, Indore
- Indian Institute Of Management, Kozhikode
- Jamnalal Bajaj Institute Of Management Studies, Mumbai
- Shailesh J Mehta School Of Management, (IIT Mumbai), Mumbai
- Dept. Of Management Studies, (IIT Delhi), New Delhi
- Indian Institute Of Technology, (IIT) Kharagpur
- Indian Institute Of Management, Ranchi
- Indian Institute Of Management, Tiruchirappalli
- Indian Institute Of Management, Udaipur
- Symbiosis Centre For Human Resource Development (SCMHRD), Pune
- Mudra Institute Of Communications (MICA), Ahmedabad
- Symbiosis Institute Of Business Management, Pune
- Indian Institute Of Management, Rohtak
- Indian Institute Of Management, Raipur
- NMIMS School Of Business Management, Mumbai
- Indian Institute Of Management, Visakhapatnam
- Indian Institute Of Management, Kashipur
- Indian Institute Of Management, Nagpur
- University Business School (UBS), Punjab University, Chandigarh
- Department Of Business Economics, University of Delhi, Delhi
- MHRM Department Of Humanities And Social Science, (IIT Kharagpur), Kharagpur
- Dept. Of Management Studies (IIT Roorkee), Roorkee
- Indian Institute Of Management, Shillong
- Institute Of Management Technology (IMT), Ghaziabad
- International Management Institute (IMI), New Delhi
- Xavier Institute Of Management, Bhubaneswar
- Sydenham Institute Of Management (SIMSREE), Mumbai
- Indian Institute Of Management, Jammu
- Indian Institute Of Management, Sambalpur
- Goa Institute Of Management (GIM), Goa
- Great Lakes Institute Of Management, Chennai
- Indian Institute Of Management, Bodh Gaya
- FORE School Of Management, New Delhi
- WOXSEN School Of Business, Hyderabad
- Management Development Institute (MDI), Murshidabad
- Institute Of Management Technology (IMT), Nagpur
- International Management Institute (IMI), Kolkata
- International Management Institute (IMI), Bhubaneswar
- Atal Bihari Vajpayee-Indian Institute Of Information Technology And Management (ABV-IIITM), Gwalior
- National Institute Of Industrial Engineering (NITIE), Mumbai
- Indian Institute Of Management, Amritsar
- Indian Institute Of Management, Sirmaur
- T.A.PAI Management Institute (TAPMI), Manipal
- Dept. Of Management Studies, Indian Institute Of Technology (IIT-ISM), Dhanbad
- Institute Of Management Studies, BHU, Varanasi
- Symbiosis Centre For Information Technology, Pune
- Birla Institute Of Management Technology (BIMTECH), Greater Noida
- IFIM Business School/Jagdish Sheth School Of Management, Bengaluru
- Institute Of Management Technology (IMT), Hyderabad
- Loyola Institute Of Business Administration (LIBA), Chennai
- Indian Institute Of Social Welfare & Business Management (IISWBM), Kolkata
- VIT Business School, Vellore
- TAXILA Business School, Jaipur
- Amrita School Of Business, Coimbatore
- NIRMA University (Institute Of Management), Ahmedabad
- Lal Bahadur Shastri Institute Of Management, New Delhi
- Bharati Vidyapeeth University Institute Of Management And Research (BVIMR), New Delhi
- CHITKARA Business School, Rajpura-Patiala
- Jindal Global Business School (JGBS), Sonipat
- University School Of Business (USB), Chandigarh University, Mohali
- Institute Of Public Enterprise, Hyderabad
- Institute Of Management And Entrepreneurship Development (IMED), Pune
- Bharath Institute Of Higher Education And Research (BIHER), Chennai
- ICFAI Business School(IBS), Hyderabad
- Amity Global Business School, Noida
- Jaipuria Institute Of Management, Noida
- Institute Of Rural Management, Anand
- KIIT University-School Of Management, Bhubaneswar
- Dr. MGR Educational And Research Institute, Chennai
- AIMS Institute, Bengaluru
- SDM Institute For Management Development (SDMIMD), Mysuru
- Manipal Institute Of Management/Manipal University, Manipal
- Meenakshi Academy Of Higher Education And Research (MAHER), Chennai
- ABBS School Of Management, Bengaluru
- REVA University(School Of Management Studies), Bengaluru
- International School Of Business And Media, Pune
- Institute Of Management Studies (IMS), Ghaziabad
- Institute For Technology And Management, Mumbai
- Indian Institute Of Forest Management, Bhopal
- School Of Management And Entrepreneurship, Shiv Nadar University, Greater Noida
- PES University, Bengaluru
- Symbiosis Institute Of Management Studies (SIMS), Pune
- Jagan Institute Of Management Studies (JIMS), Rohini/Delhi
- MIT School Of Business, Pune
- Army Institute Of Management, Kolkata
- Justice KS Hegde Institute Of Management, NITTE/ Udupi
- K.J. Somaiya Institute Of Management Studies & Research, Mumbai
- Symbiosis Institute Of Business Management, Bengaluru
- RV Institute Of Management, Bengaluru
- Welingkar Institute Of Management Development & Research, Mumbai
The 10 Best MBA Colleges
1. Indian Institute of Management, Ahmedabad
The Indian Institute of Management (IIM), Ahmedabad, was granted the status of an Institute of National Importance by the Ministry of Human Resources, Government of India, in 2017. Its campus is located across 102 acres of land in Vastrapur, Ahmedabad and houses the academic blocks, staff workplaces, student and faculty accommodation, the R.J. Matthai auditorium, and more.
The institute offers various courses, including Post Graduate Diploma Programme in Management (PGP), along with Post Graduate Diploma Programme – Agri-Business Management (PGP-FABM), Doctoral (Fellowship) Programme (FPM), executive training Programme (PGPX), and ePost Graduate Program (ePGP). The institute’s main standard courses include PGP (MBA) and executive MBA area unit.
2. Indian Institute of Management, Kolkata
IIM Calcutta was established in November 1961 by the Government of India as the first national institute for postgraduate studies and research in management. It has earned a global reputation for imparting high-quality management education. It has also played an essential role in professionalizing Indian management through its postgraduate and doctoral level programs, executive training programs, research, and consulting activities.
The institute is the only B-school to have earned three international accreditations – AACSB, AMBA, and EQUIS. It has some of the country’s most renowned faculty members for management studies faculty. The placement of IIM Kolkata is also great – the 2021 batch has a 100% placement with a hike of 4 percent in the average salary package. It offers an average CTC of Rs. 29 lakhs per annum (LPA).
3. Indian Institute of Management, Bengaluru
IIM Bangalore is one of the most prestigious institutions for pursuing MBA in India. It was ranked 2nd among management schools by NIRF 2022 and currently has an impressive faculty of more than 140 highly qualified researchers and academicians dedicated to providing a fruitful learning experience for the students. Its main courses are MBA, Ph.D., PGPPM, and Ph.D. MBA ( Business Analytics).
The institute shortlists candidates based on their CAT scores. It holds the distinction of being the only business school in India to be ranked in the Top 50 EMBA ranking globally. Also, IIM Bangalore has a great record of placements – major companies such as Amazon, Accenture, Microsoft, Philips, and Uber prefer to recruit from the institute. It also provides scholarships to deserving students.
4. Faculty of Management Studies, University Of Delhi, Delhi
The Faculty of Management Studies, the University of Delhi (abbreviated as FMS Delhi) is one of the leading business schools in India, in the league of the top three IIMs. It has been ranked 9th by Business Today (2022) and BT- MDRA (2021). It offers various courses at the postgraduate level in management (HR, healthcare, marketing, finance, and strategy) and one doctoral (Ph.D.) program.
Admission to FMS Delhi is strictly merit-based – based on the candidate’s score in the previous qualifying examination and their performance in national-level entrance exams (CAT, XAT, MAT, GATE, etc.). The placement of FMS Delhi has exponentially improved in recent years. For 2022, it recorded a placement of 100% with 257 participating students. The highest salary package on record at FMS Delhi is 58 LPA, and the average salary is 32.4 LPA.
5. Indian School of Business, Hyderabad
The Indian School of Business (ISB), Hyderabad, was established in 2001 and is among the top-ranked institutions globally. It received the 23rd rank in the Financial Times Global MBA Rankings, 2021. Its main courses are postgraduate programs in management and business. Admission to ISB Hyderabad mainly depends on the candidate’s marks in their last passed exam and their score in the entrance examinations such as GMAT and GRE.
In 2022, ISB Hydrabad recorded its highest salary package of INR 60 LPA. The average CTC offered at the institute is 34.21 LPA. Students received 2072 placement offers, and a total of 392 recruiters took part in that placement drive. Amazon, Flipkart, BGC, Google, Deloitte, and HDFC Bank are some top recruiters participating in the placement drive.
6. Indian Institute of Foreign Trade (IIFT), New Delhi
The Times of India, India Today, Financial Express, and NIRF have featured the Indian Institute of Foreign Trade (IIFT), New Delhi, as one of the best MBA colleges in the last four years (2019, 2020, 2021, 2022). It offers a two-year MBA in International Business program that the AITE has authorized. Also, it offers Executive Diploma programs in International Business (IB), Human Resource Management (EPGDHRM), and International Business, International Business Strategy.
IIFT selects students for admission to the MBS (IB) program based on a CBT exam administered by NTA on its behalf, followed by a group discussion, a writing skill assessment, and an interview. The institute has recognition for its outstanding placements and good return on investment. It completed its 2022 placement campaign with a top national and international pay of INR 46.5 LPA and 80 LPA, respectively.
7. Indian Institute of Management, Lucknow
Established in 1984, the Indian Institute of Management (IIM), Lucknow, is authorized by AMBA & AACSB and has been placed amongst the top-ranked management institutes for several years in a row. The institute offers postgraduate, doctorate, and certificate programs such as PGPM, EFPM, IPMX, and GMPE. It has an experienced and qualified faculty comprising a team of highly respected HODs and more than 30 associates and assistant professors.
Admission to the institute is strictly-entrance based, with candidates selected based on their CAT scores, followed by counseling, interviews and group discussions. It conjointly provides numerous merit-based as well as need-based scholarships. Also, it offers excellent placements to help students, with reputed firms visiting the campus once a year.
8. Xavier Labour Relations Institute (XLRI), Jamshedpur
Founded in 1949, the Xavier School of Management [XLRI], Jamshedpur, Jharkhand, is the oldest and one of the most reputed B-schools in India. It received the 9thrank in the management category by NRF in 2020. Currently, it offers a variety of programs, including Post Graduate Diploma in Management (PGDM) in three specializations, a fellowship program in management, and an executive fellow program in management – both of which are doctoral-level programs.
The XLRI conducts the annual Xavier Aptitude Test (XAT) online in January all over India in 81 cities. Short-listing of candidates is done based on their scores in different sections of the XAT, followed by group discussion. Despite the global pandemic, the XLRI achieved a 100% placement record for the 2019-2021 batches of PGDM HRM and PGDM BM.
9. Management Development Institute (MDI), Gurugram
Management Development Institute (MDI), Gurugram, is one of the best private colleges for business management courses in India. It was awarded the 10th rank in its category by NIRF in 2020. It is India’s first B-School to be accredited by AMBA London. The college admits students based on their percentile and performance in the CAT and not based on reservations because it does not come under the direct jurisdiction of the government.
MDI Gurgaon offers various executive and postgraduate diploma courses in management. It provides students with an average placement package ranging from INR 6 LPA to INE 15 LPA. Over the past years, some of the institute’s top recruiters have been Amazon, Airtel, Asian Paints, Bajaj Auto, BCCL Boston Scientific, Bridgestone, and Coca-Cola.
10. S P Jain Institute of Management And Research (SPJIMR), Mumbai
Established in 1981, the SPJIMR is located in India’s financial center, Mumbai. It is a private institute with remarkable entrepreneurial agility, boasting a sprawling campus of over 45 acres. It offers full-time residential, executive education, executive management, entrepreneurship, family-managed business, global, and social sector programs. It has a reputation for carving out a distinctive path in management education.
Admissions to the institute are based on the candidates’ CAT, XAT, or GMAT scores. The SPJIMR 2022 placement for PGPM and PGDM courses was recently closed with an average salary package of INR 26.6 LPA and INR 32.05 LPA, respectively. A total of 130 students and more than 75 companies participated in that placement process. Some of the institute’s leading recruiters are Accenture, IBM, Flipkart, KPMG, Infosys, and Sapient.
Why choose an MBA course?
According to the annual survey by the Graduate Management Admission Council (GMAC), out of 700 global recruiters, about three out of four candidates agree that employees in their firms possessing a business school education earn much more than those who haven’t taken management education. We have noticed similar agreements from a number of other individuals as well, to varying degrees:
- Health care companies – 90%
- Fortune Global 500 companies – 85%
- Products/Services companies – 80%
- Technology – 78%
- Consulting – 77%
9 out of 10 MBA alumni agreed that their salaries increased because they were from B-schools. With COVID-19 pandemic on decline, students with better skills and talent from B-schools will be the first to get into the top corporations.
My list of top MBA colleges in India is based on several reports that have been released in the last 5 years. Additionally, I have customized these reports with valuable feedback from over 40 MBA students in my network. If you are looking to get admission to MBA courses, be sure to choose one from the list.
But again, this is just data. Depending on your budget, your location and priorities, your options may differ from mine. Whatever you choose, be sure to think twice before stamping over your decision. This is a question of not just your career but your whole life. Talk to seniors, educators and experts – tell them your needs and then come at a conclusion.
Before you choose a College from this list
The actual list of top MBA colleges in India, apart from being an excellent indicator of marketable business schools for MBA, also plays a vital role in helping future MBA students find the answer to a certain fundamental query – which is the MBA program right for you? For that purpose, we recommend taking a closer look at your graduation level work and objectives. Also consider the main takeaways of every program, payback time, cost factors, and the skills you are going after based on your personality.
Take out the time to pay a visit to your MBA college of choice, identify your crucial requirements, and decide whether or not this college is suitable for you.
Ranking systems offer numerical conclusions to you, but your own analysis will serve as the ultimate conclusion.
How to Select an MBA college on Your Own
Do you not want my list to guide you? It’s alright. I can guide you on how you can select an MBA college on your own. You can pick a college using this method, says IIM Ahmedabad – critically examine that college with several factors listed below, and then decide on whether or not to choose this one over another college, like IIM Kolkata.
Such comparisons can also go beyond IIMs. Take any number of B-schools, give them points based on their quality (and possibilities to get an admission). Compare those scores. Whichever scores better wins.
Let’s see what indicators you should use to critically examine and evaluate top B-schools in India:
1. Exams Accepted and Cut-off
Every MBA college has different eligibility criteria for admission. Many of the top MBA colleges in India, such as IMT, IMI, and MDI, take overall cut-offs into account. Others like SPJIMR give greater weightage to academic profile and achievements, apart from the entrance exam results. Before choosing an MBA college, make sure you consider the exam you are appearing in, whether the college will accept its score for admission, and the expected cut-off.
2. MBA Fees
You should give preference to a moderate fee structure with satisfactory placement, which can give you a feeling of security regarding your career. Take time to compare the fee structures of the MBA colleges you are considering. Remember to calculate the total fees and expenses for your two years at the college, and not merely the tuition fees (which constitute just 50 to 60 percent of the total fees).
3. Campus Placements
Check what the average placements over time in the college you are considering taking admission in are. Certain queries should spontaneously come to mind in this regard. For example, who are the top recruiters there? Which MBA program there has the best placement record? Ensure that such questions are satisfactorily answered before you make your final choice.
4. Ranking and Accreditation
Even among the top MBA colleges in India, ranking and accreditation plays an important role when comparing them to each other. International and National accreditations play a crucial role in representing the vital parameters of an MBA college – the quality of education, faculty, research, facilities, pedagogy, and much more. Here are the important national and international accreditations you must consider before choosing an MBA college.
- National Assessment & Accreditation Council (NAAC)
- National Board of Accreditation (NBA)
- Association to Advanced Collegiate Schools of Business (AACSB), USA
- Association of MBAs (AMBA), UK
- EFMD Quality Improvement System (EQUIS)
5. General Vs Specialized MBA
You must decide if you want to study General MBA with specialization in the second year, or opt for specialized MBA from the start itself. It is important to mention that several top MBA colleges in India offer General MBA and very less specialized MBA programs. On the other hand, there are other colleges which offer a number of specialized MBA programs like MBA Business Analytics, MBA Rural Management, MBA Finance, and much more. You must ensure that the college you are opting for offers specialization in the branch of MBA you are interested in.
6. College’s Legacy and Alumni Base
Older MBA colleges have better alumni bases. By virtue of the global network of the college’s old students, you have better career opportunities as well. Even among IIMs, the older ones finish their placement early in the year with magnificent salaries, whereas the newer ones struggle for several months. The college’s legacy reflects not just its placement potential, but its growth and sustainability over time. Older colleges usually have more experienced faculty as well.