What is MBA – Top MBA colleges in India 2023 – Fees, Average Salary
When we talk about top MBA colleges in India, generally, the IIMs come to our minds. However, with time, the scenario has changed, and numerous other MBA colleges make it to the list of top MBA colleges in India in 2023. The top MBA colleges in India include the Indian Institutes of Management (IIMs), XLRI, ISB, IIT, SPJIMR, FMS Delhi University, MDI, IMT, and many more. The list of the top 100 MBA colleges is included in this article.
If you are planning to go for an MBA program, you have many options to choose from. But, the amount of information you find on the internet related to the Top business schools in India may overwhelm and confuse you. To help you make an informed decision for your career, we have created a table representing the top 100 business schools in India with their flagship program, tuition fees, entrance exam, NIRF ranking, and average salary post-MBA.
Before we move forward, here is a brief overview of the top 10 MBA colleges in India in 2023:
|Top MBA colleges in India||Average Salary|
|IIM Ahmedabad||INR 33,81,865|
|IIM Bangalore||INR 33,82,000|
|IIM Calcutta||INR 34,20,000|
|ISB (Indian School of Business)*||INR 34,08,000|
|IIM Lucknow||INR 31,03,000|
|FMS Delhi**||INR 32,40,000|
|SPJIMR Mumbai||INR 32,05,000|
|XLRI Xavier School of Management||INR 30,70,000|
|IIM Indore||INR 25,01,000|
|MDI Gurgoan – Management Development Institute||INR 23,80,000|
Note: The average salaries have been taken from the placement reports for the class of 2020-22 of the respective colleges.
- Indian Institute of Management Ahmedabad (IIM-A) Established in 1961, IIM-A is widely regarded as one of the best business schools in India. It offers a two-year post-graduate program in management, which is divided into six trimesters. The total fee for the program is around Rs. 28 lakhs. The average salary package offered to graduates is around Rs. 25 lakhs per annum.
- Indian Institute of Management Bangalore (IIM-B) Founded in 1973, IIM-B is another top-ranking business school in India. The two-year post-graduate program in management offered by the institute is known for its rigorous curriculum and practical approach. The total fee for the program is around Rs. 23 lakhs. The average salary package offered to graduates is around Rs. 26 lakhs per annum.
- Indian Institute of Management Calcutta (IIM-C) Established in 1961, IIM-C is one of the oldest and most prestigious business schools in India. The institute offers a two-year post-graduate program in management, which is known for its focus on research and innovation. The total fee for the program is around Rs. 27 lakhs. The average salary package offered to graduates is around Rs. 24 lakhs per annum.
- Xavier School of Management (XLRI), Jamshedpur XLRI is a private business school that was founded in 1949. The institute offers a two-year post-graduate program in business management, which is highly regarded for its focus on ethics and social responsibility. The total fee for the program is around Rs. 25 lakhs. The average salary package offered to graduates is around Rs. 22 lakhs per annum.
- Faculty of Management Studies (FMS), Delhi FMS is a public business school that is affiliated with the University of Delhi. The institute offers a two-year post-graduate program in management, which is known for its affordable fee structure and high-quality education. The total fee for the program is around Rs. 2 lakhs. The average salary package offered to graduates is around Rs. 22 lakhs per annum.
What is MBA?
MBA stands for Master of Business Administration. It is one of the most recognized and respected post-graduate programs in the world, and more than 3000 business schools offer 10,000+ MBA programs today across the globe.
An MBA is generally, a two-year post-graduate degree course in Business management and administration. The reason what makes it so popular is the catalytic effect it has on peoples’ careers. If you want to boost your career, then MBA is one of the most efficient ways to do it. Also, an MBA comes in various forms, which we call ‘courses’ and ‘specializations.’
There are many benefits of pursuing a Masters’s in business administration. Some of the reasons are Career growth and Transformation, Higher pay package, subject specialization, and many more.
Many students get confused about whether to pursue an MBA or PGDM. Here is an article that can help you decide between the two post-graduate degrees. Besides, an MBA is only worth the time and money you want to invest in it. Here is an article that can help you know the value of your MBA investment in 2023 by doing a cost-benefit analysis. Also, check out which MBA program had a high ROI.
MBA Admissions 2023 – When is the deadline?
The admissions for 2023 intake has started. Top business schools like Harvard Business School, Wharton, Columbia Business School, Kellogg School of Management, Indian School of Business, and many more are already done with their Round 1 applications. Take a look at the upcoming deadlines for 2023 intake.
Want to get into top business school?
To get into top programs, you need to understand what the admissions committee is looking for. The MBA Admission committees look for Intellectual aptitude, Interpersonal skills, personal fit, and Leadership qualities. Various parameters are used to evaluate your skills. For example, your GMAT score and GPA will give an idea about your intellectual aptitude. Similarly, your career goals will help in assessing if you are a good fit for the b-school. Here is an article where we discuss in detail how to get into top business schools. Check out this article on How to impress the MBA Admissions Committee.
What is the average MBA Salary?
The average salary for the top 50 business schools is around $100k. Besides, your post-MBA salary also depends on the country you work in. Apart from the country, the industry you choose determines your salary. On average, the salary for students graduating from a Top 60 US B-School is around $152,000. Moreover, jobs after MBA graduates in Consulting, Financial Services, and Technology offer a starting salary of over $100,000.
Which entrance Exam to take?
Many business schools ask you to take standardized tests like GMAT and CAT as part of their application. Here is an article highlighting the differences between GMAT and CAT. Also, check out how you can use CAT preparation for the GMAT.
Another popular entrance exam is GRE. General, if you want to do an MBA, then you should take the GMAT, but if you are still confused about which master’s degree to pursue, then go for GRE. However, a lot of business schools have started taking both GMAT and GRE. Here is an article that will help you decide whether to take the GMAT or GRE. You can also watch this video to know the diffrence between GMAT and GRE:
Choosing the right MBA college is crucial for your career growth, and the above list of top 10 MBA colleges in India for 2023 can help you make an informed decision. However, the fees and average salary offered by these colleges should not be the only deciding factor. You should also consider the reputation of the college, the faculty, the course curriculum, and the placement record before making a final decision. Pursuing an MBA from a reputed college can open up a world of opportunities and help you achieve your career goals.
What is MBA? – FAQ
What is an MBA?
MBA or Master of Business Administration is an internationally recognized post-graduate program that equips its students with the necessary skills to make a career in business and management
Why MBA in 2023?
An MBA degree continues to be the stepping-stone that enables the dreams of many MBA applicants. It can lead to better career opportunities and a higher pay package. However, that’s not all. Check out this article to know the top 20 reasons to pursue an MBA in 2023.
What are the different types of MBA?
MBA comes in all shapes and sizes. There are many types of MBA programs and specializations offered. Here is an article outlining the different types of MBA programs.
What is the full form of an MBA?
The full form of MBA is Master of Business Administration.
What is the typical duration of an MBA?
The duration of a typical MBA program is 2 years. However, many business schools offer a 1 year MBA as well.
Do I need to take a test for getting into an MBA program?
Yes. Many business schools ask you to take standardized tests like GMAT and CAT as part of their application. Here is an article highlighting the differences between GMAT and CAT.
Do Indian business schools accept GMAT for their MBA programs?
Yes, there are a few business schools that accept GMAT for their full-time MBA program for domestic students. However, all international students are required to take the GMAT. Also, GMAT is the preferred test for executive and 1 year MBA programs. Here is an article on the scope of GMAT in India.
How to get into MBA programs of top business schools?
To get into top business schools you need a well-rounded application. This article explains what this means.
How to get into the Indian School of Business (ISB)?
Here is an 8-step guide to get into the Indian School of Business in 2023.