Top 10 MBA Colleges In India | Fees, Placements, Salaries & Program Details

From developing a competitive management mindset to realizing global career prospects, studying at one of the top 10 MBA colleges in India has much to offer to you as an aspiring MBA. 

To be eligible for an MBA, you need to graduate from a recognized university in any stream, with up to 60% aggregate marks. 

The Common Admission Test (CAT) is the most widely accepted entrance exam for the best MBA colleges in India. 

To get into the Indian Institutes of Management (IIMs) you need to take the CAT, although many other top business schools in India accept the more flexible NMAT Exam.

Here are the top 10 MBA colleges in India, according to the 2023 NIRF Ranking. We share the fees and information on placements and packages post-MBA.

10. Indian Institute of Management Udaipur

Fees: INR 17,50,000 ($21,332)

IIM Udaipur offers a two-year MBA integrating mainstream business management subjects in the first year, and electives in the second year. 

IIM Udaipur’s intake is 305 students. Famous alumni of this top MBA college include Ritu Singh, CEO, Elawoman, Rohit Jaiswal, Co-Founder, Bombay Shaving Company, and Priyanka Verma, Product Manager, ICICI Bank.

The college recorded high placement during the 2023 season, with average cost to company (CTC), meaning the total salary package for an employee, at INR 20,02,000 ($24,464). Frontline recruiters included Accenture Strategy, Wells Fargo, and Cognizant. 

9. Management Development Institute Gurgaon

Fees: INR 21,16,800 ($29,533) 

©MDI/FB

The only non-IIM in our top 10 MBA colleges in India list, MDI Gurgaon offers a two-year, six-term PGDM with general business management topic covered in the first year, and electives in the second year. 

Established by the Industrial Finance Corporation of India, MDI Gurgaon also offers PGDM-HR, PGDM-IB, PGDM-BM, and PGDM-PPM (public policy in management). 

Famous alumni include Anurag Batra, chairman and editor-in-chief, Businessworld, Durjoy Datta, writer and author, and KS Sabarinadhan, politician. 

The class of 2021-2023 had 472 students—one of the largest on the list. Average compensation package of the cohort was INR 26,13,000 ($31,922). Major recruiters were Deloitte, Airbnb, BMW Group India, and Google. 

8. Indian Institute of Management Rohtak

Fees: INR 17,90,000 ($21,820)

IIM Rohtak offers a two-year PGP which includes a summer internship. Second year elective courses give students to specialize further in key areas such as finance, marketing, management information systems, and human resources. 

Notable alumni include Ditesh Verma, global macro portfolio manager at BlackRock, Manmohan Bora, manager of strategy and operations at Deloitte, and Dick Deka, chief manager at ICICI Bank. 

The 2023 cohort included 237 students with 100% recorded placement. Top recruiting industries were consulting (24%) and finance (19%). Recruiting companies in these industries included Capgemini, Axis Bank, and Wells Fargo. The average salary package was INR 18,73,000 ($22,831). 

7. Indian Institute of Management Raipur

Fees: INR 15,92,960 ($19,418)

IIM Raipur offers a two-year PGP consisting of six trimesters for the cheapest fees out of the top 10 MBA colleges in India. The first-year curriculum covers marketing, finance, quantitative methods, operations, behavioral sciences and strategy, with electives in the second year. 

The intake at IIM Raipur is 255. Famous alumni of IIM Raipur include Pranay Mondal, IndiaMart, Tanmoy Mondal, HCL Technologies, and Abhishek Pratap, Polycab.

The institute recorded high placement in 2023 and is strong for graduate outcomes, with average package of INR 21,014,000 ($25,710). Top recruiters were Accenture, Airtel, IBM, and Swiggy. 

6. Indian Institute of Management Indore

Fees: INR 11,04,711 ($13,466) 

©IIM Indore Facebook

The IIM Indore MBA offers courses in economics, finance and accounting, information systems, marketing, organizational behavior and human resource, organization management and quantitative techniques, management strategy, communication, and humanities and social sciences streams. 

IIM Indore is especially strong in terms of its teaching and resources as well as its graduate outcomes. For international students, fees are slightly higher at INR 16,01,711 ($19,561).

Notable alumni from IIM Indore include Hussain Haidry, writer and poet, and Siddharth and Avinash Sethi, co-founders of Infobens Technologies.

IIM Indore recorded 100% placement in 2023, with an average CTC of INR 30,21,000 ($36,825). The highest salary recorded at IIM Indore in 2023 was 1.14 crore (approx.. $140,000) which marks a 132% increase from the previous year.

5. Indian Institute of Management Lucknow

Fees: INR 20,75,000 ($25,294)

IIM Lucknow offers an MBA with specializations in management of finance and accounting, human resource, decision sciences, business, agribusiness, communication, marketing, IT and systems, operations, strategic, and general management. 

In 2023, IIM Lucknow also launched an MBA in Entrepreneurship and Innovation.

The intake for IIM Lucknow is 563. Famous alumni of IIM Lucknow include Roopa Satish (IndusInd Bank), Shraya Sachdev (Puma), Ajit Thakur, CEO of Trinity Pictures, and Rajdeep Grewal, founder of the Journal of Marketing Research.

The institute recorded 100% placement for the 2023 season, with average CTC at INR 32,23,000 ($39,288), the school’s highest ever reported. Major recruiters were Accenture, Boston Consulting Group, and, Deloitte. 

4. Indian Institute of Management Calcutta

Fees: INR 31,00,000 ($37,789) 

A two-year PGP at IIM Calcutta will offer you specialization options in accounting, finance, marketing, operations, management, and other mainstream disciplines. Electives in the second year will hone your domain skills and expertise. The intake at IIM Calcutta is 479. 

Ashish Chauhan (MD of Bombay Stock Exchange), Anindya Ghose (Director at the Stern School of Business, New York University), and Swami Mukundananda (spiritual leader) are all IIM Calcutta alumni.

IIM Calcutta recorded 100% placement for 2023, with an average package of INR 35,07,000 ($42,750), the highest on our list. Top recruiters included Amazon, IBM, and Microsoft.

3. Indian Institute of Management Kozhikode

Fees: INR 20,50,000 ($24,989) 

IIM Kozhikode offers specialization in major mainstream disciplines. It also offers a range of electives such as digital pillars of industry, project management, lean Six Sigma, and many others. 

Notable alumni from IIM Kozhikode are Sneha Choudhry (co-founder of Zolo), Hansih Yadav (Partner, McKinsey & Company), and Dr Krishnadas Nanath (faculty at Middlesex University, Dubai).

Like many of the best MBA colleges in India, IIM Kozhikode recorded 100% placement in 2023, with a very impressive average CTC of INR 31,02,000 ($37,813). In 2023, The Information Technology and Analytics sector made 59 offers from notable recruiters such as Microsoft, Mercedes Benz, and EXL Analytics. 

2. Indian Institute of Management Bangalore

Fees: INR 24,50,000 ($29,865)

Image credited to ©Trilok Rangan and used under this license.

IIM Bangalore offers two-year and one-year full-time PGP programs, as well as two-year weekend PGPs. Apart from the mainstream disciplines, other specialization areas include capital markets, corporate governance and citizenship, entrepreneurship, public policy, supply chain management, and more. 

One of the most respected IIM colleges in India, IIM Bangalore has strong brand power across India and notable alumni include Vandana Shiva (scholar and activist), Apurva Purohit (writer and former CEO, Radio City), and K Radhakrishnan (space scientist).

At 530 students, IIM Bangalore has the largest intake out of the top Indian MBA colleges.

IIM Bangalore recorded 100% placement in 2023, with 164 participating companies. The median package was INR 35,31,000 ($43,042). Top recruiters included Accenture, Tata Consultancy Services, Boston Consulting Group (BCG), Bain and Company, and others.

1. Indian Institute of Management Ahmedabad

Fees: INR 31,50,000 ($38,398)

Image credited to ©British High Commission, New Delhi and used under this license.

Topping our list of the top 10 MBA colleges in India and perhaps the most famous of all the IIMs in India is IIM Ahmedabad.

The fees of IIM Ahmedabad for the MBA are the highest on our list, but can be offset by bank loans and scholarships that the school offers accepted students.

The two-year PGP at IIM Ahmedabad is rated as one of the toughest MBA programs in the world to enter. It offers 24-credit core courses in the first year and 19-22 credit electives in the second year. 

The program covers major disciplines including marketing, human resource, information systems, finance and accounting, and economics, among others. 

IIM Ahmedabad has a long list of notable alumni, including Chetan Bhagat, CK Prahlad, KV Kamath, Shikha Sharma, Rahugram Rajan, Kiran Karnik, and many more. 

IIM Ahmedabad conducted its 2023 placement in two stages, reporting 100% placement. In the final placements, the firms that made the most offers included McKinsey & Company, followed by Boston Consulting Group (BCG). The average package for IIM Ahmedabad was an impressive INR 34,36,000 ($41,884).

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This list of the top 10 MBA colleges in India is based on the latest NIRF Ranking 2023. Only schools that offer an MBA program (PGP) have been included. Fees and other information sourced direct from school websites.