Before discussing the top six business schools in India, let’s understand why management courses are so much in demand in the country. To begin with, it is an all-rounder academic-slash-practical course. It accepts students from all fields and provides crucial life learning. Career flexibility and networking opportunities are also two important reasons why an MBA is the most sought-after course in India.
The right degree opens you up to great graduate employment opportunities, career acceleration, experiential learning, exposure, professional networks, and more. Here is a detailed breakdown of the top contenders for best business schools in India.
1. Indian Institute of Management, Ahmedabad (IIM-A)
Built with the support of Harvard Business School, IIM-A is spread over 102 acres in Ahmedabad, Gujarat. It is the most highly rated business school in India. Raghuram Rajan and Harsha Bhogle are its notable alumni. NIRF ranked it as #1 in 2024.
International educational institutions like the London Business School, the Wharton School, and the Kellogg School of Management are officially affiliated with the institute.
Infrastructure amenities
The IIM-A campus has excellent libraries, hostels, recreational areas, and high-tech classes.
The Vikram Sarabhai Library offers digital resources, making it an infinite source of knowledge.
Gyms, pools, and sports complexes are present on the campus.
Career prospects
The institute recorded a 100% placement rate in 2024 for its flagship program, the Post Graduate Programme in Management (PGP). The highest package was ₹1 crore, with an average of ₹35 lakh for home country and $10,000 for international placements.
IIM-A alumni populate senior leadership roles at McKinsey, Goldman Sachs, Google, and similar tech and consulting giants. The institute also provides entrepreneurship support to aspiring candidates. It has the govt-backed Centre for Innovation, Incubation & Entrepreneurship (CIIE) with experienced mentors and industrial leaders.
Fees and scholarships
The most famous two-year PGP course at IIM-A costs around ₹25-30 lakhs. Various corporate companies offer scholarships in CSR schemes to students.
2. Indian Institute of Management, Bangalore (IIM-B)
Next in the trinity of ABC in the top six business schools in India is IIM-B. The institute comes with high recommendations for its entrepreneurship and research-driven environment. K. Radhakrishnan, the former Chairman of ISRO, and Deep Kalra, founder of MakeMyTrip, are some of its eminent alumni. Its AACSB accreditation guarantees its worldwide recognition.
Infrastructure amenities
Located in the tech city of Bangalore, IIM-B offers a 100-acre innovation-driven campus. Like IIM-A, it has enormous courtyards for students to organize intellectual meetings. The campus implements sustainability initiatives as a green step to conserve the earth’s resources.
Career prospects
Some of the most reputable courses here are:
- MBA in Business Analytics
- Post Graduate Programme in Enterprise Management (PGPEM)
- Executive Post Graduate Programme in Management (EPGP)
It also offers doctoral programs and provides maximum placement in the consulting sector. The highest package in the previous cohort was ₹1 Cr, and the average package was ₹32 lakhs.
IIM-B has the best incubator in India, NSRCEL (N. S. Raghavan Centre for Entrepreneurial Learning). It has provided financial support to around 75 startups.
Fees and scholarships
Average fees for any course range from ₹25 to ₹35 lakhs per year. IIM-B offers merit-based scholarships to students in need.
3. Indian Institute of Management, Calcutta (IIM-C)
IIM Calcutta is one of the most well-equipped B-school campuses in India. MIT Sloan, along with the Government of India, laid its foundation stones in 1961. Indra Nooyi, the former CEO of PepsiCo, and Gopal Vittal, CEO of Bharti Airtel, are some of the distinguished alumni of the institute. AACSB, AMBA, and EQUIS have accredited IIM-C, recognizing it as one of the best business schools in the world.
It is widely labeled as a “Finance Campus” due to its huge alumni network, record-breaking campus placements, and entrepreneurial initiatives.
Infrastructure amenities
IIM-C provides an ideal setting for academic rigor and holistic student life. It has consistently upgraded its infrastructure to ensure that students, faculty, and staff have access to state-of-the-art facilities.
IIM-C also has an innovation park with incubation centers and working spaces for startup founders and their teams.
Career prospects
Besides its PGP program, IIM-A also has courses in product technology, investment banking, public policy, and governance. Global companies like Amazon, Bain & Co., JP Morgan, HSBC, and unicorn startups are their regular recruiters.
The average salary recorded for the previous batch was ₹35-40 LPA; the highest was an international offer with ₹1 Cr per annum.
Fees and scholarships
IIMs are self-funded institutes. For any course, the annual fees range from anywhere between ₹35-40 lakhs per year.
4. FMS Delhi
People famously call FMS Delhi “The Red Building of Dreams” for its great returns and low academic fees. It ranked 7th in NIRF, 2024. Ashish Chauhan, CEO of the NSE, and Deepinder Goyal, Founder & CEO of Zomato and the OG Shark, are some of its alumni.
Infrastructure amenities
Located in Delhi University’s North campus, FMS Delhi has a classic red-brick building. Its location exposes students to a plethora of opportunities. The Ratan Tata Library and Bloomberg terminals are its central learning areas. Harvard-based learning styles inspire the academics here.
Career prospects
Students highly regard the Executive MBA and MBA in healthcare at FMS. They are also called “No-Frills MBA” because although the institute does not offer any extravagant amenities, it still gives out soaring placement records.
The Big 4s, Amazon, McKinsey, Goldman Sachs, and HUL are some of its recruiters. The average package exceeds the ₹ 40 LPA mark, and the highest might go beyond ₹ 1 Crore.
Fees and scholarships
FMS’s MBA comes with great results and no hefty bills. Average fees are ₹ 2 lakhs, and installments are allowed.
5. SPJIMR Mumbai
The NIRF ranking 2024 places Jain Institute of Management and Research (SPJIMR) at #20. It has innovated new techniques of learning in management education.
Social cognizance, student-centered learning, and community inclusivity are its three fundamentals. Sandeep Bhushan, the Director & head of Meta (Facebook) India, and Rohit Kapoor, CEO of Swiggy Food Marketplace (Ex-OYO) are some of its eminent alumni.
Infrastructure amenities
SPJIMR occupies a 45-acre campus located in Mumbai’s Andheri West. The institute features digital classrooms, hostels, a sports complex, a lake, and seminar halls. The campus’s location allows access to the corporate areas of Mumbai like BKC and Nariman Point.
The institute also has a Delhi branch, at Kasturba Gandhi Marg.
Career prospects
SPIJMR might rank a little lower than IIMs; however, its placement records are almost equal. The highest package documented was ₹ 81 LPA. The median salary ranged between ₹ 30-45 LPA. BCG, Microsoft, and Procter & Gamble (P&G) are some of its recruiters.
Fees and scholarships
An executive MBA at SPJIMR starts at ₹ 10 lakhs for a 21-month course. A full-time PGDM course costs around ₹ 20 lakhs for 2 years. It also offers attractive scholarships, listed below:
- Mirae Asset Foundation (MAF) Scholarship
- Merit-based Financial Assistance
6. MDI Gurugram
The NIRF ranking places Management Development Institute at #11. Additionally, Business Today named it one of India’s Best B-Schools for 2023. Ramesh Gopalakrishnan, the Global COO of Tata Consumer Products, and Puneet Gupta, MD, Morgan Stanley, are some of its well-known alumni.
Infrastructure amenities
MDI occupies a 40-acre campus in Gurugram, the new Singapore of India. The institute has state-of-the-art classrooms, 24/7 accessible discussion halls, Bloomberg labs, and recreational centers. It also has residential facilities and libraries with digital access to international journals.
Career prospects
PGDM, Executive postgraduate courses, fellowship programs, and diplomas are some of its notable courses. It provides these in the HR, healthcare, and finance sectors.
Similar to top-tier MBA colleges, MDI has almost a 100% placement record. MDI graduates occupy honorable roles at Tata Administrative Services, BCG, Mahindra, Nestle, and Aditya Birla Group.
The highest package bagged by a student is ₹1.13 Cr per annum for international offers here. Domestic offers range from ₹45-60 LPA. The average salary of an MDI graduate has been consistently above ₹35 LPA.
Fees and scholarships
PGDM at MDI may cost around ₹25-28 lakh (for 24 months). The executive course costs around ₹15-18 Lakhs. They are available in both online and offline formats. MDI also offers an FPM (PhD) Program with stipends for its research scholars.
Concluding Remarks
An MBA is not just a course; for some, it has proved to be their golden ladder. It’s a game-changing degree when done right. However, most institutes mandate the Common Admission Test (CAT) for entry to Indian students. The exam notification for CAT is usually released in the last week of July, and the exam takes place in November. Overseas MBA aspirants can consider the GMAT. So, straighten your back and focus on your goals. If an MBA is your calling, then consider the top six business schools in India to reap in the rewards and opportunities.
