Top 10 MBA Colleges in India 2023 – Fees, Salary, Exam
The field of management in India offers a plethora of career and academic opportunities, with a wide range of business schools and management institutions offering MBA programs. The Top Online MBA colleges in India often include the prestigious Indian Institutes of Management (IIMs) and the Indian Institutes of Technology (IITs), along with various esteemed private management institutions. Below, we have listed a few of the prestigious colleges and universities that provide excellent MBA programs for aspiring students.
An MBA, which stands for Masters of Business Administration, is a postgraduate degree in management that typically spans over two years. It is available for students to pursue after completing their graduation. The MBA degree offers a wide range of specializations, allowing students to focus on specific areas of business and management. Furthermore, there are numerous colleges and universities that offer MBA programs, providing students with a variety of options to choose from when it comes to pursuing their desired specialization.
While the Indian Institutes of Management (IIMs) are widely recognized as leading institutions for management education, it is important to note that there are several esteemed public and private colleges and institutes that also offer highly valued MBA degrees. These institutions provide excellent opportunities for students to pursue a management career and offer programs that are well-regarded in the industry. It is essential for aspiring management professionals to consider these alternative options and explore the diverse range of colleges and institutes that can help shape a successful management career.
Here is a list of the Top 10 MBA Colleges in India according to the NIRF (National Institutional Ranking Framework) rankings for 2022:
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Top 10 MBA Colleges in 2023 According to NIRF Management Category Ranking
We have compiled a list of the top 10 MBA colleges in India, based on the prestigious NIRF rankings of the management category in 2022. These colleges hold a high level of prestige and are well-regarded in both academic and professional circles.
Consistently ranked as the leading management institute in India since 2020, the Indian Institute of Management, Ahmedabad (IIMA) provides students with an exceptional education in the field of management through its various degree and diploma programs. One of its flagship programs is the Post Graduate Program (PGP) in Management, which spans a duration of 2 years and equips students with comprehensive knowledge and skills in the field.
The IIM Ahmedabad MBA is highly regarded and has an average course fee of INR 25 lakhs, which includes the tuition fee, security deposit, and mess fee. Candidates are admitted to the program based on their performance in entrance examinations such as CAT (Common Admission Test) and GMAT (Graduate Management Admission Test). These tests serve as an important criterion for evaluating the eligibility and suitability of candidates for the program.
Indian Institute of Management Bangalore (IIM-B) is one of the leading business schools in India, renowned for offering an MBA program to students. It holds a prominent position alongside IIM-A (Indian Institute of Management Ahmedabad). As of 2022, IIM-B is ranked the second-best management institute in India by the National Institutional Ranking Framework (NIRF). The institute has also achieved the prestigious EQUIS accreditation since 2018, further solidifying its reputation for excellence in management education.
IIM Bangalore MBA program, making it one of the best in the country. A significant majority of students who pursue the MBA course at IIM-B secure lucrative job offers in various management fields upon completion of their studies.
3. IIM Calcutta
IIM Calcutta is recognized as one of the top management institutions in India, securing a prominent position as the third-ranked institute. It holds the prestigious AACSB accreditation, which is widely regarded as one of the most esteemed accreditations in the field of business studies. The IIM Calcutta MBA is a 2-year MBA degree program in the regular mode, which is considered its flagship program. IIM Calcutta has consistently maintained its position among the top five business schools in India, further affirming its reputation for excellence in management education.
IIM Calcutta Admission to the MBA program at IIM Calcutta is open to candidates who have cleared either the CAT (Common Admission Test) or GMAT (Graduate Management Admission Test) examination. The program spans a duration of two years and offers specializations in 12 different areas. The average course fee for the MBA program at IIM Calcutta is approximately INR 24 lakhs. The institute boasts high-paying placement opportunities, ensuring excellent Return on Investment (RoI) for its graduates.
4. IIT Delhi
While traditionally known for its excellence in technical education, the Indian Institutes of Technology (IIT)-Delhi is also highly regarded for providing elite education in business administration. Among the eight IITs offering MBA programs, six of them are ranked within the top 15 management institutions by the National Institutional Ranking Framework (NIRF). IIT-Delhi, in particular, holds the fourth position among the top management institutions in India. This highlights the reputation and authority of IITs in delivering high-quality management education to students, complementing their strong standing in technical education.
The MBA program offered by IIT-Delhi is highly esteemed and considered a valuable qualification for pursuing a management career in India and abroad. The Return on Investment (RoI) for an MBA from IIT-Delhi is notably high, making it a highly sought-after institution for obtaining an MBA degree. The approximate fee range for completing an IIT Delhi MBA Fee is between INR 10 lakhs to INR 11 lakhs. Admission to the program requires appearing for the CAT examination and obtaining a percentile score above the cut-off set by the institute.
IIM Kozhikode (IIM-K) has been recognized as the fifth top management institution in India, according to the NIRF rankings in 2022. The institute has received prestigious accreditations like EQUIS and AMBA, affirming its standing in the field of management education. It offers a comprehensive Post Graduate Program (PGP) in Management spanning a duration of two years. The PGP is a full-time course that provides specializations in various domains such as Economics, HRM and Organizational Behaviour, Marketing, and more. IIM Kozhikode’s program is designed to equip students with the necessary skills and knowledge for successful careers in management.
IIM Kozhikode Exam (IIM-K) considers applications from candidates who have successfully cleared either the CAT (Common Admission Test) or GMAT (Graduate Management Admission Test). The average course fee for the PGPM (Post Graduate Program in Management) at IIM-K ranges from INR 20 lakhs to INR 21 lakhs.
6. IIM Lucknow
IIM Lucknow (IIM-L) holds the distinguished position of being India’s sixth top management institution according to the NIRF rankings of 2022. The institute has garnered prestigious accolades such as AACSB and AMBA, further highlighting its excellence in management education. IIM-L offers a comprehensive Post Graduate Program in Management (PGPM) with various specialization areas. This two-year full-time management course is equivalent to an MBA degree, equipping students with the necessary skills and knowledge for successful careers in the field of management.
To secure admission to IIM Lucknow, candidates need to qualify for the CAT or GMAT entrance exam. The IIM Lucknow MBA fee for the 2-year full-time course ranges from INR 19 lakhs to INR 20 lakhs. The institute also provides comprehensive placement assistance, which ensures good career opportunities and a high return on investment for students.
7. IIM Indore
IIM Indore is recognized as the seventh top business school in India, according to the NIRF rankings. It is part of the esteemed Indian Institutes of Management (IIM) consortium. The institute holds the distinction of being accredited by three internationally renowned accreditation bodies for business education: EQUIS, AMBA, and AACSB. These accreditations affirm the high quality of management education provided by IIM Indore, reflecting its commitment to excellence in teaching, research, and overall educational experience.
IIM Indore MBA offers specializations in six areas: Marketing, Finance, Human Resource Management, Quantitative Research, Operations, Economics, and Strategy. The institute admits candidates who have successfully cleared the CAT or GMAT examinations for admission screening.
XLRI, Xavier School of Management, located in Jamshedpur, Jharkhand, is a highly regarded private business school. The institution offers an AICTE-approved PGDM (Post Graduate Diploma in Management) degree, which is equivalent to an MBA qualification. As per the NIRF rankings of 2022, XLRI is ranked as the eighth top management institution in India. XLRI has achieved prestigious accreditation and membership from esteemed organizations such as the Association of MBAs (AMBA) and the AACSB, further solidifying its reputation for providing high-quality management education.
The PGDM program at XLRI has a duration of 15 months. To secure admission to XLRI for the PGDM course, students are required to appear for the Xavier Aptitude Test (XAT) and obtain a valid percentile score. The average course fee for the PGDM program ranges from INR 20 lakhs to INR 25 lakhs.
9. National Institute of Industrial Engineering Mumbai
The National Institute of Industrial Engineering, Mumbai (NITIE), is recognized as the ninth top business school in India according to the NIRF rankings. The institute has been conferred with the status of an Ivy League Business School in India by the MHRD (Ministry of Human Resource Development). NITIE offers students a Post Graduate Diploma in Industrial Management (PGDIM), which is considered equivalent to a traditional MBA degree. This program equips students with the necessary skills and knowledge in the field of industrial management, preparing them for successful careers in the industry.
Eligible candidates for the PGDIM program at NITIE are those who have cleared the CAT examination. The average course fee for the PGDIM is approximately INR 15 lakhs. NITIE has a commendable placement record, with students receiving job offers with an average package of INR 21 lakhs.
10. IIT Madras
IIT Madras, a leading technological institute in India, is renowned for its excellence in management education through its MBA program. The institute holds the approval of the AICTE (All India Council for Technical Education) for its technical courses and has also received recognition from the ISO (International Organization for Standardization). This recognition underscores the institute’s commitment to providing high-quality education and further enhances its reputation in the field of management education.
IIT Madras MBA program offers specializations in Finance, Marketing, Human Resource & Organizational Behaviour, Operations, Information Systems, and Integrative Management. Candidates who have successfully cleared the CAT examination are considered for further screening and admission. The average course fee for completing an MBA from IIT Madras is approximately INR 9 lakhs.
India's Top Alternative MBA Colleges
In addition to the top-ranked MBA colleges listed above, there are numerous other prestigious institutions in India that offer high-quality education in various specializations of management. These alternative MBA educational institutions are spread across different locations in India and include both private and public colleges and universities. Here is a curated list of some of the best MBA colleges in India:
1. Institute of Management and Technology Ghaziabad (IMT Ghaziabad)
IMT Ghaziabad is a well-established private university that holds several prestigious accreditations and recognitions, including AACSB, SAQS, NBA, and membership in the AIU. It is a reputable institution that can serve as a viable alternative for students seeking higher education in management. IMTG offers a Post Graduate Diploma in Management (PGDM) course, which is equivalent to an MBA degree.
IMT Ghaziabad offers an AICTE-approved PGDM program with specializations in areas such as marketing, finance, dual country program, banking and financial services, and more. The institute considers candidates who have cleared entrance examinations like CAT, GMAT, or XAT for admission.
2. Amity Online University
Amity University is a renowned institution in the field of higher education, and its Amity Online University is an extension of its commitment to providing a world-class education to students through online mode. This online MBA college in India has gained accreditation and approval from prestigious bodies such as UGC-DEB, AICTE, NAAC (A+), WES, AIU, and ACU, and has also received recognition in the QS World Rankings.
Attaining an online degree from Amity University ensures the validity and credibility of your qualification. The university offers a meticulously designed MBA program with 12 specialized areas in business administration, providing students with a competitive edge in their professional careers upon completion of the degree.
3. DY Patil Vidyapeeth Centre For Online Learning
D.Y. Patil University Centre for Online Learning (DPU-COL) is an extension of the esteemed D. Y. Patil Vidyapeeth in Pune, India. Recognized as one of the top universities in India with a notable alumni network, DPU-COL aims to make higher education easily accessible to students by offering full-time degree programs and certificate courses in an online format. This initiative enables students to pursue their education remotely and gain valuable qualifications.
It is an accredited college in India that offers an MBA degree in India with recognition from various esteemed institutions and organizations such as UGC-DEB, AICTE, NAAC (A++), NIRF, AIU, ACU, WES, ISO, and more. The degree obtained from this university holds a valid and reputable status.
4. Manav Rachna University Online
Manav Rachna University offers an Online MBA program for students who prefer the flexibility and convenience of distance learning. The Online MBA program provides an opportunity for working professionals and individuals who cannot attend regular classes to pursue a postgraduate degree in management.
The Online MBA program at Manav Rachna University is designed to provide students with a comprehensive understanding of business concepts, strategies, and practices. It offers specializations in areas such as Marketing, Finance, Human Resource Management, Operations Management, International Business, and Business Analytics. Completing an Online MBA from Manav Rachna University can provide individuals with the necessary knowledge and skills to advance their careers in the field of management while balancing their personal and professional commitments.
5. Manipal Online University
Manipal University, established in 1953, has experienced significant growth over the years, offering a wide range of courses in diverse areas including management, business management, and technical and professional domains. One of its initiatives, Online Manipal, enables Manipal University, Jaipur (MUJ), to provide online education to students. As a reputable and accredited MBA online college in India, Manipal University offers carefully curated courses that are approved by recognized bodies such as UGC-DEB, NAAC (A+), AICTE, NIRF (Ranked 7), AIU, ICES, and others. These accreditations attest to the quality and credibility of the programs offered by Manipal University, making it a trusted choice for pursuing an online MBA education in India.
6. Lovely Professional University (LPU) Online
Lovely Professional University Online, located in Jalandhar, Punjab, is an excellent choice for pursuing your dream MBA degree through online mode. LPU (Lovely Professional University) is a highly esteemed institute for higher education, renowned for its academic and professional excellence. It is recognized and respected in both academic and professional circles. As a result, students seeking online MBA colleges can confidently consider admission to LPU. The university ensures that the online courses offered are of the same high quality as their offline counterparts, providing students with a top-notch educational experience.
7. Institute of Chartered Financial Analyst of India (ICFAI)
ICFAI Centre for Distance and Online Education (CDOE), located in Hyderabad, India, is a specialized initiative by the ICFAI Foundation for Higher Education. It is dedicated to offering MBA programs to students through online mode. CDOE focuses on providing quality distance education in the field of management, allowing students to pursue their MBA degrees conveniently and flexibly. With a commitment to delivering a comprehensive and industry-relevant curriculum, CDOE aims to equip students with the necessary skills and knowledge for successful careers in the business world.
8. Jain Online University
Jain University, situated in Bangalore, India, is a deemed-to-be university founded in 1990 by Dr. Chenraj Roychand as Sri Bhagawan Mahaveer Jain College. In 2009, it attained the status of a deemed-to-be university under Section 3 of the UGC Act, 1956. The university provides a diverse range of undergraduate, postgraduate, and research programs across various disciplines including engineering, management, law, arts, and sciences. Jain University is recognized for its emphasis on research, entrepreneurship, and innovation, fostering a conducive environment for students to explore and excel in their chosen fields.
9. Symbiosis University Pune
Symbiosis Centre for Distance Learning (SCDL) has established itself as a leading and highly reputable distance learning institution in India since its establishment in 2001. It has gained recognition for its commitment to delivering quality education and has become one of the most popular and sought-after distance learning institutes in the country. Symbiosis Centre for Distance Learning (SCDL) provides a wide range of programs in the form of Post Graduate Diplomas, Diplomas, and Certificates. These programs cover various industry sectors such as Business Management, International Business, Information Technology, Banking and Finance, Supply Chain Management, Customer Relationship Management, Insurance Management, Education Management, Business and Corporate Law, and Entrepreneurship Development. Students have the opportunity to choose from a diverse selection of courses that align with their interests and career goals.
10. Indira Gandhi National Open University (IGNOU)
Indira Gandhi National Open University (IGNOU) offers an Online MBA program for students who prefer the flexibility of distance learning. IGNOU is a well-established and renowned open university in India that offers various distance education programs, including the Online MBA. The Online MBA Degree at IGNOU is designed to provide students with a comprehensive understanding of business management concepts and skills. It covers various areas of management, including finance, marketing, operations, human resources, and more. The program is structured to equip students with the knowledge and skills required for managerial roles in diverse industries.
Basic Eligibility For MBA Colleges In India
There are two main types of entrance examinations for admission to an MBA course in India. Universities and institutions may either accept candidates who have appeared in a national-level entrance exam or conduct their own aptitude tests for admission. Here is a brief overview of the common entrance tests considered by universities for screening MBA aspirants.
- Common Admission Test (CAT): For online MBA Exam CAT is a national-level entrance exam conducted by the Indian Institutes of Management (IIMs) for admission to their MBA programs. Many other prestigious MBA colleges also accept CAT scores.
- Common Management Admission Test (CMAT): CMAT is a national-level entrance exam conducted by the National Testing Agency (NTA). It is accepted by a wide range of AICTE-approved MBA colleges.
- Graduate Management Admission Test (GMAT): GMAT is an internationally recognized entrance exam conducted by the Graduate Management Admission Council (GMAC). It is accepted by many MBA colleges in India as well as abroad.
Which MBA Colleges Are Best For You?
With the wide range of colleges and business schools offering MBA programs today, choosing the right one can indeed be a daunting task.
Below are some key factors to consider when choosing the Top MBA Colleges in India
or business school for yourself:
- Reputation and Accreditation: Look for colleges and business schools with a strong reputation and accreditation from recognized bodies. This ensures the institution meets certain quality standards and provides a reputable degree.
- Rankings and Recognition: Consider the rankings of the institution in reputable ranking systems. These rankings can give you an idea of the institution’s overall quality and reputation within the industry.
- Curriculum and Specializations: Evaluate the curriculum offered by the institution and the availability of specializations that align with your career goals and interests. Ensure the curriculum is relevant, up-to-date, and covers the areas you wish to specialize in.
- Faculty and Industry Experience: Look into the qualifications and experience of the faculty members. They should have a strong academic background and relevant industry experience to provide you with quality education and guidance.
- Infrastructure and Facilities: Assess the infrastructure and facilities of the institution, including libraries, laboratories, classrooms, and other resources necessary for a conducive learning environment.
In this blog, we discussed the top online MBA colleges in India for the year 2023. These institutions offer high-quality education and flexible learning options for working professionals and individuals who prefer online education. We also mentioned the approximate fee ranges for these programs. It is important to note that the fee structure mentioned is subject to change and it is advisable to visit the official websites of the respective colleges for the most accurate and up-to-date information.
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