Top MBA Colleges in India List of Top Colleges with Average Package
CL Team September 10 2024
Choosing the right MBA college is a pivotal decision that can shape your career and life trajectory. When evaluating top B-schools, it is crucial to consider factors such as placement records, quality of education, and networking opportunities to make an informed choice.
To aid in this decision-making process, we have categorized the top MBA colleges in India into four distinct clusters. Each cluster represents a tier of prestigious institutions, providing clarity on their relative standings. As you progress through the clusters, the differences between colleges become less pronounced, highlighting their overall excellence.
Top MBA Colleges: CLUSTER 1
Every year, IIM Ahmedabad, IIM Bangalore, and IIM Calcutta consistently secure the top three spots among preferred MBA institutions. Their remarkable placement records, strong brand reputation, and extensive opportunities make them standout choices.
Other notable institutions in this cluster include FMS Delhi, IIM Lucknow, and XLRI Jamshedpur. These schools also offer excellent programs, and the best choice will depend on individual preferences and career goals.
For candidates with over three years of work experience, ISB Hyderabad presents an attractive option with its one-year MBA program, which accepts GMAT scores for admission. On the other hand, FMS Delhi, TISS Mumbai, and JBIMS Mumbai are recognized for their "value for money" offerings due to their lower fees and strong placement records. However, JBIMS faces a slight disadvantage because of the 85% reservation for Maharashtra residents.
TISS, while lower on the list, offers specialized programs that might appeal to those with specific interests, such as HR. General management programs are often preferred for their flexibility in allowing students to choose a specialization after the first year. However, if you have a particular interest in HR, specialized programs like those at TISS and XLRI Jamshedpur could be more suitable.
|
No. |
Sub-Cluster |
Institute |
City |
Program |
Average Package (LPA) |
|
1 |
1A |
Indian Institute of Management (IIM-A) |
Ahmedabad |
MBA |
36.14 |
|
2 |
1A |
Indian Institute of Management (IIM-B) |
Bangalore |
MBA |
35.92 |
|
3 |
1A |
Indian Institute of Management (IIM-C) |
Kolkata |
MBA |
35.07 |
|
4 |
1A |
Indian Institute of Management (IIM-B) |
Bangalore |
PGP-BA |
35.92 |
|
5 |
1A |
Indian Institute of Management (IIM-L) |
Lucknow |
MBA |
32.20 |
|
6 |
1A |
FMS - Delhi University |
New Delhi |
MBA |
34.10 |
|
7 |
1A |
Xavier Labour Research Institute (XLRI) |
Jamshedpur |
PGDM - HRM |
32.70 |
|
8 |
1A |
Xavier Labour Research Institute (XLRI) |
Jamshedpur |
PGDM - BM |
32.70 |
|
9 |
1A |
Indian Institute of Management (IIM-L) |
Lucknow |
MBA - ABM |
32.20 |
|
10 |
1B |
Indian School of Business (ISB) |
Hyderabad |
PGP |
33.25 |
|
11 |
1B |
Tata Institute of Social Sciences (TISS) |
Mumbai |
MA - HRM LR |
19.62 |
|
12 |
1B |
Indian Institute of Management (IIM-K) |
Kozhikode |
MBA |
31.02 |
|
13 |
1B |
Xavier Labour Research Institute (XLRI) |
NCR |
PGDM - BM |
32.70 |
|
14 |
1B |
Indian Institute of Management (IIM-I) |
Indore |
MBA |
30.21 |
|
15 |
1B |
SP Jain Institute of Management & Research (SPJIMR) |
Mumbai |
PGDM |
33.02 |
|
16 |
1C |
Jamnalal Bajaj Institute of Management Studies (JBIMS) |
Mumbai |
MMS |
28.02 |
|
17 |
1C |
Indian Institute of Management (IIM-K) |
Kozhikode |
MBA - Finance |
26.11 |
|
18 |
1C |
Indian Institute of Management (IIM-K) |
Kozhikode |
MBA - LSM |
25.96 |
|
19 |
1C |
Indian Institute of Foreign Trade (IIFT) |
New Delhi |
MBA |
29.10 |
|
20 |
1C |
Management Development Institute (MDI) |
Gurgaon |
PGPM |
27.67 |
Top MBA Colleges: CLUSTER – 2
In Cluster 2, several non-IIM institutions have distinguished themselves, often surpassing some IIMs in terms of growth, educational quality, and placement performance. For example, IIFT Kolkata is placed in Cluster 2A, ahead of many older, well-established institutes. This ranking is largely due to its integrated placement process with IIFT Delhi, which ensures uniform opportunities across both campuses.
Similarly, IIM Lucknow's Agribusiness Management (ABM) program is ranked higher than IIM Ahmedabad’s Food and Agribusiness Management (FABM) program. This is because IIM Lucknow provides equal placement opportunities for its ABM and PGP programs, whereas IIM Ahmedabad has distinct placement processes for its PGP and FABM programs.
Prominent technical institutes such as IIT Bombay, IIT Delhi, and IIM Mumbai also feature prominently in this cluster, recognized for their strong MBA programs in Operations, Systems, and Analytics.
The International Business (IB) programs offered by MDI Gurgaon are placed in this cluster rather than Cluster 1, mainly due to cost considerations. Additionally, various newer IIMs like IIM Ranchi and IIM Udaipur, along with several respected non-IIM institutions, are included in this cluster. This reflects a diverse range of institutions providing competitive MBA programs.
Top MBA Colleges: CLUSTER – 2
|
No. |
Sub-Cluster |
Institute |
City |
Program |
Average Package (LPA) |
|
1 |
2A |
Indian Institute of Technology Bombay - SJMSOM |
Mumbai |
MBA |
28.88 |
|
2 |
2A |
Indian Institute of Foreign Trade (IIFT) |
Kolkata |
MBA |
29.10 |
|
3 |
2A |
Indian Institute of Management (IIM-S) |
Shillong |
MBA |
26.96 |
|
4 |
2A |
IIM Mumbai (Former NITIE) |
Mumbai |
PGDIM |
25.40 |
|
5 |
2A |
Indian Institute of Management (IIM-A) |
Ahmedabad |
MBA - FABM |
20.04 |
|
6 |
2B |
Indian Institute of Technology Delhi - DMS |
New Delhi |
MBA |
25.82 |
|
7 |
2B |
Management Development Institute (MDI) |
Gurgaon |
PGPM-HRM |
26.42 |
|
8 |
2B |
Management Development Institute (MDI) |
Gurgaon |
PGPM - IB |
27.67 |
|
9 |
2B |
Management Development Institute (MDI) |
Gurgaon |
PGP-BA |
- |
|
10 |
2B |
Symbiosis Institute of Business Management (SIBM) |
Pune |
MBA |
26.77 |
|
11 |
2B |
Symbiosis Centre for Management and HRD (SCMHRD) |
Pune |
MBA |
23.71 |
|
12 |
2B |
Narsee Monjee Institute of Management Studies (NMIMS) |
Mumbai |
MBA - Core |
26.63 |
|
13 |
2B |
Jamnalal Bajaj Institute of Management Studies (JBIMS) |
Mumbai |
MSc Finance |
21.00 |
|
14 |
2B |
Mudra Institute of Communications Ahmedabad (MICA) |
Ahmedabad |
PGDM-C |
20.09 |
|
15 |
2B |
BITS School of Management (BITSOM) |
Mumbai |
MBA |
23.85 |
|
16 |
2C |
Indian Institute of Management (IIM-Trichy) |
Trichy |
MBA |
20.55 |
|
17 |
2C |
Indian Institute of Management (IIM-U) |
Udaipur |
MBA |
20.09 |
|
18 |
2C |
Indian Institute of Management (IIM Raipur) |
Raipur |
MBA |
21.04 |
Top MBA Colleges: CLUSTER – 3
Cluster 3 is distinguished by its focus on specialized MBA programs and institutions renowned for their niche expertise. Leading the cluster is MICA, which is acclaimed for its Marketing and Advertising programs, solidifying its position as a top choice for candidates interested in these fields. Similarly, IRMA is well-regarded for its focus on rural management, offering unique opportunities for those aiming to make an impact in this sector.
Established institutions such as XIMB and IMT Ghaziabad are also prominent in this cluster, known for their robust placement records and strong academic reputation. For candidates with more than two years of work experience, the one-year PGPM program at Great Lakes Chennai is an appealing option, despite its lack of AICTE recognition. This program is supported by impressive placement results and industry recognition.
Additionally, several IITs are included in this cluster, valued for their affordability and strong placement opportunities, particularly for those pursuing specializations in operations, systems, or analytics. These institutes offer a solid balance of cost-effectiveness and quality education, making them a preferred choice for many MBA aspirants.
Top MBA Colleges: CLUSTER – 3
|
No. |
Sub-Cluster |
Institute |
City |
Program |
Average Package (LPA) |
|
1 |
3A |
Indian Institute of Science (IISc) |
Bengaluru |
M.Mgmt |
28.00 |
|
2 |
3A |
Xavier Institute of Management (XIMB) |
Bhubaneswar |
MBA - BM |
20.03 |
|
3 |
3A |
Xavier Labour Research Institute (XLRI) |
Jamshedpur |
Global MBA |
28.02 |
|
4 |
3A |
Indian Institute of Technology Kharagpur - VGSOM |
Kharagpur |
MBA |
22.13 |
|
5 |
3A |
Indian Institute of Technology Madras – DMS |
Chennai |
MBA |
20.19 |
|
6 |
3A |
Indian Institute of Management (IIM Kashipur) |
Kashipur |
MBA |
18.10 |
|
7 |
3A |
Indian Institute of Management (IIM Ranchi) |
Ranchi |
MBA |
16.17 |
|
8 |
3B |
Indian Institute of Management (IIM Rohtak) |
Rohtak |
MBA |
18.70 |
|
9 |
3B |
Indian Institute of Management (IIM Ranchi) |
Ranchi |
MBA - HRM |
15.63 |
|
10 |
3B |
Indian Institute of Management (IIM Lucknow) |
Lucknow |
PGP - SM |
30.00 |
|
11 |
3B |
IIM Mumbai (Former NITIE) |
Mumbai |
MBA (SM) |
25.40 |
|
12 |
3B |
Institute of Management Technology (IMT) |
Ghaziabad |
PGDM |
17.35 |
|
13 |
3B |
Institute of Management Technology (IMT) |
Ghaziabad |
Marketing, Finance |
17.35 |
|
14 |
3B |
Institute of Rural Management (IRMA) |
Anand |
PGPRM |
15.00 |
|
15 |
3C |
Great Lakes Institute of Management (GLIM) |
Chennai |
PGPM - 1 year |
18.10 |
|
16 |
3C |
International Management Institute (IMI) |
New Delhi |
PGDM |
17.01 |
|
17 |
3C |
Narsee Monjee Institute of Management Studies (NMIMS) |
Mumbai |
MBA - HR |
19.60 |
|
18 |
3C |
Indian Institute of Technology Roorkee – DoMS |
Roorkee |
MBA |
18.30 |
|
19 |
3C |
Indian Institute of Technology Kanpur – DoMS |
Kanpur |
MBA |
18.10 |
Top MBA Colleges: CLUSTER – 4
Cluster 4 is distinguished by a mix of established regional institutions and newer IIMs, reflecting a broad spectrum of MBA programs with strong local reputations and emerging prominence. This cluster includes well-regarded regional schools such as TAPMI, GIM, KJ Somaiya, and IIM Trichy, known for their solid track records and regional influence.
In addition, this cluster features some of the latest IIMs, including those in Vizag and Nagpur, representing a blend of traditional and cutting-edge institutions in the MBA field.
Specialized programs are also a highlight of this cluster. Notable offerings include NITIE’s PGDISEM, JBIMS’s MSc in Finance, and specialized HR programs at NMIMS and XIMB. Furthermore, Delhi University’s value-for-money MBA programs, such as MFC, MHROD, and MBE, are part of this cluster, providing a diverse array of options to meet various career aspirations and preferences.
Top MBA Colleges: CLUSTER – 4
|
No. |
Sub-Cluster |
Institute |
City |
Program |
Avg. Package (LPA) |
|
1 |
4A |
BITS Pilani, Department of Management |
Pilani |
MBA-BA |
17.45 |
|
2 |
4A |
T A Pai Management Institute (TAPMI) |
Manipal |
PGDM |
14.6 |
|
3 |
4A |
Indian Institute of Management (IIM-N) |
Nagpur |
PGP |
16.74 |
|
4 |
4A |
Indian Institute of Management (IIM-Sambalpur) |
Sambalpur |
PGP |
16.64 |
|
5 |
4A |
Indian Institute of Management (IIM-V) |
Visakhapatnam |
PGP |
16.61 |
|
6 |
4A |
Indian Institute of Management (IIM-Amritsar) |
Amritsar |
PGP |
16.51 |
|
7 |
4A |
Indian Institute of Management (IIM-J) |
Jammu |
PGP |
16.5 |
|
8 |
4A |
Department of Business Economics, Delhi University |
Delhi |
MBA (BE) |
15.92 |
|
9 |
4B |
Master of HR and Organisational Development, DSE, Delhi Univ. |
Delhi |
MBA (HRD) |
14 |
|
10 |
4B |
Sydenham Institute of Management Studies (SIMSREE) |
Mumbai |
MMS/PGDBM |
13-14 |
|
11 |
4B |
Xavier Institute of Management (XIMB) |
Bhubaneswar |
MBA - Rural Mgmt |
12.5 |
|
12 |
4B |
International Management Institute (IMI) |
New Delhi |
PGDM BFS |
16.48 |
|
13 |
4B |
International Management Institute (IMI) |
New Delhi |
PGDHRM |
15.58 |
|
14 |
4B |
Indian Institute of Management (IIM-Bodh Gaya) |
Bodh Gaya |
PGP |
14.96 |
|
15 |
4C |
Indian Institute of Management (IIM S) |
Sirmaur |
PGP |
14.45 |
|
16 |
4C |
FORE School of Management |
New Delhi |
PGDM IB |
15.1 |
|
17 |
4C |
Goa Institute of Management (GIM) |
Goa |
PGDM |
14.87 |
|
18 |
4C |
Symbiosis Institute of International Business (SIIB) |
Pune |
MBA IB |
13.12 |
|
19 |
4C |
Symbiosis Institute of Operations Management (SIOM) |
Nasik |
MBA Ops |
14.35 |
|
20 |
4C |
K J Somaiya Institute of Management Studies & Research (SIMSR) |
Mumbai |
MBA/MBA-HCM |
12.32 |
Top MBA Colleges: CLUSTER – 5 & 6
If you haven't secured admission to any college up to Cluster 4 and retaking the CAT/XAT exams isn't a viable option or won't significantly improve your scores, it’s time to consider institutes in Clusters 5 and 6. These colleges provide solid education and good career prospects, though the roles, profiles, and salary levels may not match those of higher-ranked institutions.
At this level, location becomes particularly important, as institutes in metropolitan areas often have better industry connections and placement opportunities.
Furthermore, placements in these clusters are often regionally focused. For example, if you study in the NCR region, job prospects may be primarily confined to that area. Given the moderate salary expectations from these institutions, it is crucial to manage your MBA expenses carefully, including tuition fees and accommodation. Effectively balancing these costs is essential, especially if you are taking on a substantial loan. Servicing a large loan with a modest salary can be challenging, so careful financial planning is necessary.
Top MBA Colleges: CLUSTER – 5 & 6
|
No. |
Sub-Cluster |
Institute |
City |
Program |
Avg. Package (LPA) |
|
1 |
5A |
National Institute of Bank Management |
Pune |
PGDM B & FS |
15.22 |
|
2 |
5A |
Shri Ram College of Commerce (SRCC GBO), Delhi University |
Delhi |
GBO |
13.48 |
|
3 |
5A |
Great Lakes Institute of Management (GLIM) |
Chennai |
PGDM |
14.5 |
|
4 |
5A |
Symbiosis Institute of Business Management (SIBM) |
Bengaluru |
MBA |
13.48 |
|
5 |
5A |
Narsee Monjee Institute of Management Studies (NMIMS) |
Bengaluru |
PGDM |
14.0 |
|
6 |
5A |
SDA Bocconi Asia Center |
Mumbai |
International Masters in Business |
14.3 |
|
7 |
5B |
Great Lakes Institute of Management (GLIM) |
Gurgaon |
PGPM 1 year |
11.6 |
|
8 |
5B |
IFMR GSB, Krea University |
Sri City, Andhra Pradesh |
MBA |
13.5 |
|
9 |
5B |
University Business School (UBS) |
Chandigarh |
MBA |
13.67 |
|
10 |
5B |
Narsee Monjee Institute of Management Studies (NMIMS) |
Navi Mumbai |
MBA |
13.35 |
|
11 |
5B |
Narsee Monjee Institute of Management Studies (NMIMS) |
Hyderabad |
PGDM |
13.01 |
|
12 |
5B |
Narsee Monjee Institute of Management Studies (NMIMS) |
Indore |
MBA |
12.5 |
|
13 |
5B |
Welingkar Institute of Management |
Mumbai |
MMS, PGDM |
12.01 |
|
14 |
5B |
Nirma University – Institute of Management (IMNU) |
Ahmedabad |
MBA |
13.0 |
|
15 |
5B |
Symbiosis Institute of Management Studies (SIMS) |
Pune |
MBA |
16.0 |
|
16 |
5B |
Symbiosis Institute of Digital & Telecom Management (SIDTM) |
Pune |
MBA |
12.78 |
|
17 |
5B |
Management Development Institute (MDI) |
Murshidabad |
PGP |
12.67 |
|
18 |
5B |
Lal Bahadur Shastri Institute of Management (LBS) |
New Delhi |
PGDM, Finance |
12.42 |
|
19 |
5B |
Bharathidasan Institute of Management (BIM) |
Tiruchirapally |
MBA |
12.4 |
|
20 |
5C |
Loyola Institute of Business Administration (LIBA) |
Chennai |
PGDM |
11.5 |
|
21 |
5C |
Birla Institute of Management Technology (BIM Tech) |
Greater Noida |
PGDM, IB |
11.24 |
|
22 |
5C |
Delhi School of Management - Delhi Technological University (DTU) |
New Delhi |
MBA |
10.3 |
|
23 |
5C |
International Management Institute (IMI) |
Kolkata |
PGDM |
10.65 |
|
24 |
5C |
Symbiosis Institute of Mass Communication (SIMC) |
Pune |
MBA CM |
8.2 |
|
25 |
5C |
Symbiosis Institute of International Business (SIIB) |
Pune |
MBA E&E |
11.54 |
|
26 |
5C |
Symbiosis Center for Information Technology |
Pune |
MBA-ITBM |
11.18 |
|
27 |
5C |
Symbiosis Institute of Banking and Finance (SSBF) |
Pune |
MBA BF, PGDBF |
11.0 |
|
28 |
5C |
Symbiosis Institute of International Business (SIIB) |
Pune |
MBA AB |
10.66 |
|
29 |
5C |
ICFAI Business School |
Hyderabad |
MBA/PGPM |
10.42 |
|
30 |
5C |
ISM Dhanbad |
Dhanbad |
MBA |
11.6 |
Top MBA Colleges: CLUSTER – 5 & 6
|
No. |
Sub-Cluster |
Institute |
City |
Program |
Avg. Package (LPA) |
|
1 |
6A |
Institute of Management Technology (IMT) |
Ghaziabad |
DCP |
- |
|
2 |
6A |
Jagan Institute of Management Studies |
New Delhi |
PGDM |
- |
|
3 |
6A |
Institute of Management Technology (IMT) |
Hyderabad |
PGDM |
12 |
|
4 |
6A |
Great Lakes Institute of Management (GLIM) |
Gurgaon |
PGDM |
11.6 |
|
5 |
6A |
Institute of Management Technology (IMT) |
Nagpur |
PGDM |
10.81 |
|
6 |
6A |
Xavier Institute of Management & Entrepreneurship (XIME) |
Bengaluru |
PGDM |
10.75 |
|
7 |
6A |
SOIL Institute of Management |
Gurgaon |
PGDM |
10.3 |
|
8 |
6A |
NL Dalmia Institute of Management Studies and Research |
Mumbai |
PGDM |
10 |
|
9 |
6A |
SDM Institute for Management Development (SDMIMD) |
Mysore |
PGDM |
9.8 |
|
10 |
6A |
Faculty of Management Studies, BHU (FMS BHU) |
Varanasi |
MBA, MBA IB |
9.7 |
|
11 |
6A |
Flame University |
Pune |
MBA |
9.15 |
|
12 |
6A |
Symbiosis Institute of Computer Studies and Research (SICSR) |
Pune |
MBA IT |
6.55 |
|
13 |
6A |
International School of Business & Media |
Pune |
PGDM |
14 |
|
14 |
6B |
Xavier Institute of Social Service (XISS) |
Ranchi |
PGDM HRM |
9.4 |
|
15 |
6B |
Symbiosis Institute of Business Management |
Hyderabad |
MBA |
9.2 |
|
16 |
6B |
Indian Institute of Forest Management (IIFM) |
Bhopal |
PGDFM |
8.5 |
|
17 |
6B |
TAPMI School of Business, Manipal University |
Jaipur |
MBA |
7.6 |
|
18 |
6C |
BML Munjal University |
Gurgaon |
MBA |
9.4 |
|
19 |
6C |
Xavier Institute of Social Service (XISS) |
Ranchi |
PGDM Marketing & PGDM Finance |
9.4 |
|
20 |
6C |
Kirloskar Institute of Advanced Management Studies |
Harihar, Pune |
PGDM |
8.5 |
|
21 |
6C |
Xavier Institute of Management & Entrepreneurship (XIME) |
Kochi |
PGDM |
8.07 |
|
22 |
6C |
Symbiosis Institute of Health Services (SIHS) |
Pune |
MBA |
6.98 |
Conclusion
Choosing the right MBA college is a crucial decision that significantly impacts your career trajectory. When evaluating top B-schools, it’s essential to consider factors such as placement records, the quality of education, and networking opportunities to make an informed choice.
To assist you in this process, we have categorized the top MBA colleges in India into distinct clusters based on their prestige and performance. Each cluster represents a tier of institutions, providing a clear understanding of their relative standings.
For those preparing for entrance exams, a strategic approach is key. Once you’ve completed your preparation, consider joining Career Launcher Medical Square, Nagpur Branch to gain further insights and guidance on your MBA journey. Whether aiming for top-tier institutions in Cluster 1 or exploring opportunities in lower clusters, having a solid plan and support system will enhance your chances of success.