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Best 20 MBA Colleges in India

Best 20 MBA Colleges in India   Searching for the Best 20 MBA Colleges in India? Congratulations, your search has made you arrive at the best place to look for the Best 20 MBA colleges in India! We at Formfees have curated a highly comprehensive and informative blog for you regarding your query about the Best […]

 Saurav Anand 26/05/2023
formfees, MBA college in India
Top 20 MBA Colleges in India

Best 20 MBA Colleges in India  

Searching for the Best 20 MBA Colleges in India? Congratulations, your search has made you arrive at the best place to look for the Best 20 MBA colleges in India!

We at Formfees have curated a highly comprehensive and informative blog for you regarding your query about the Best 20 MBA colleges in India.

So, buckle up while we make you familiar with the aspects you need to requirements regarding the Best 20 MBA colleges in India.

Well, this article won’t be just that. Along with the Best 20 MBA colleges in India, we shall also make you familiar with the related aspects to this topic, such as the Best 20 MBA colleges in India NIRF rank.

What is NIRF?

The National Institute for Research Framework makes the most reliable survey of the higher education institutions in the country. Hence, this article shall have a separate dedicated to the Top MBA colleges in India according to the NIRF rank. The colleges you can expect to be mentioned in this list are:

Second, comes in line is the MBA colleges fee. MBA is a financially expensive course, so it is better to be aware of the fee of your desired college beforehand. The list of the Best 20 MBA colleges in India with fees is provided in the article for this purpose. The MBA colleges mentioned in this list in the article below are:

Then we shall look at the Best 20 MBA colleges in India placement-wise. The colleges you can expect to be mentioned here are:

Then we shall also look at the Best 20 Private MBA colleges in India. The list shall contain some of the MBA colleges from below along with their fee structure and accepted entrance exams:

The following article is designed to provide you with a wholesome picture of not just the Best 20 MBA colleges in India, but the MBA course in general, Best 20 MBA colleges in India admission process, Eligibility criteria for the Best 20 MBA colleges in India, Job Scope, Top recruiting companies. We hope that by the end of this article, all your queries regarding the Best 20 MBA colleges in India are sorted out. Yet, if some of your doubts persist regarding these Best 20 MBA colleges in India, unhesitantly contact us at Formfees and one of our consulting executives shall get in touch with you.

Best 20 MBA Colleges in India:

What makes the Top MBA colleges stand out among the rest?

Following are the categories that make an MBA college among the Best MBA colleges in India:

  • The best faculty access- One of the first of these is best faculty access. These top MBA colleges in India hire the best faculty in the MBA field for their institutions, making them truly exceptional.
  • Best accommodation facilities- The accommodation facilities are among the best provided by these best MBA colleges in India to students, which makes a lot of students flock to these institutions.
  • Top Placement packages- Because these Top MBA colleges are the most prestigious in the management field and are respected by corporations and firms in the industry, students who graduate from these Best 20 MBA colleges in India for MBA are naturally the most appealing candidates to be hired.
  • Remarkable industry reputation- Many of the companies specifically mention the preference to the students from the Best MBA Colleges in India due to great industry access these colleges maintain a reputation by regularly updating their MBA courses as per the industry standard.

Quick Facts about MBA colleges in India:

  • According to the MHRD-NIRF rankings for 2022, there are in total of 5556 MBA colleges in India.
  • IIM Ahmedabad, IIM Bangalore, IIM Calcutta, IIT Delhi, IIM Kozhikode, IIM Lucknow, and IIM Indore are among the top MBA colleges in India.
  • There are nearly 116 Top MBA colleges in India as of data today.
  • Approximately 70 of the top MBA colleges in India are private, while 46 are public institutions/government owned.
  • Admission to the Best 20 MBA colleges in India is based on merit and various admission exams such as CAT, GMAT, and others.
  • The average fees in the Best 20 MBA colleges in India range from INR 50,000 to INR 8.78 lakhs per year, depending on the college.
  • Various companies that conduct a placement program in the Best 20 MBA colleges in India   are –Infosys, Amazon, Wipro, Apple, IBM, Brain & Company, Accenture, BCG, Tata Consultancy Services, Citigroup, Larsen & Toubro, Deloitte, Goldman Sachs, etc

Best 20 MBA Colleges in India: College Details

Based on the most recent NIRF ranking 2022 (2023 ranking shall be available by July 2023), we have ranked the Top MBA Colleges in India based on post-MBA salary. Among the Top MBA Colleges in India are the Indian Institutes of Management (IIM), IMT, ISB, SPJIMR, FMS Delhi University, MDI, IIT, XLRI, and many more. Here is a list of the Best 20 MBA colleges in India.

NIRF 2021 RankingTop MBA Colleges in IndiaProgram NameTuition Fees (Domestic) INR
1IIM AhmedabadPGP23,00,000
2IIM BangalorePGP23,00,000
3IIM CalcuttaPGP24,00,000
4IIM KozhikodePGP20,00,000
5DMS IIT DelhiMBA8,00,000
6IIM IndorePGP16,20,000
7IIM LucknowPGP19,25,000
8XLRI Xavier School of Management JamshedpurPGDM (Business Management)25,80,000
9IIT KharagpurMBA11,59,760
10IIT Bombay – Shailesh J Mehta School of Management MumbaiMBA9,06,400
11MDI Gurgaon – Management Development Institute GurugramPGDM21,34,000
12National Institute of Industrial Engineering MumbaiPGDM14,63,000
15IIM RaipurPGP14,20,400
16IIT KanpurMBA10,97,600
19SPJIMR MumbaiPGDM19,00,000
20Symbiosis Institute of Business Management PuneSUBMIT21,27,950
23IIM ShillongPGP14,60,000
NAFMS DelhiMBA1,92,000
NAIndian School of Business (ISB) HyderabadPGP33,05,120

Best 20 MBA Colleges in India: NIRF Rank

The National Institutional Ranking Framework is abbreviated as NIRF. It is a system for assessing and maintaining the country’s high standards for higher education. The HRD ministry has approved the NIRF, a government initiative. As a result, when comparing higher education institutions in India, the NIRF ranking model is one of the most reliable.

The NIRF provides several ranking options, including state, city, and course rankings. As a result, the NIRF has identified the Best 20 MBA colleges in India. The NIRF rankings for 2022 are as follows.

The Best 20 MBA colleges in India NIRF rank will be revealed by the end of July 2023.

Name of the InstituteNIRF Rankings 2021
IIM Ahmedabad1
IIM Bangalore2
IIM Calcutta3
IIT Delhi4
IIM Kozhikode5
IIM Lucknow6
IIM Indore7
XLRI Jamshedpur8
NITIE Mumbai9
IIT Madras 10
IIT Bombay 11
IIT Kharagpur12
MDI Gurgaon13
IIM Raipur 14
IIM Ranchi15
IIM Rohtak 16
SIBM Pune 17
IIM Trichy 18
IIT Roorkee 19
IIT Kanpur20

Best 20 MBA Colleges in India: Fees

There are other MBA colleges in India that you might be interested in addition to the Best 20 MBA colleges in India. Understanding how much an MBA program will cost is essential if you want to pursue this degree because it will have an impact on your financial planning and let you know if you can pay for it. Figuring out the fee schedule will help you with budgeting, college comparison, scholarship possibilities, and much more. The list of the Best 20 MBA colleges in India  with fees is here below:

Name of the instituteCourse fee
IIM BangaloreINR 23,00,000
IIM CalcuttaINR 24,00,000
Indian School of Business (ISB)INR 33,05,120
IIM LucknowINR 19,25,000
FMS DelhiINR 1,92,000
SPJIMR MumbaiINR 19,00,000
XLRI Xavier School of ManagementINR 25,80,000
IIM IndoreINR 16,20,000
MDI Gurgaon – Management Development InstituteINR 21,34,000
IIM AhmedabadINR 23,00,000
National Institute of Industrial EngineeringINR 14,63,000
IIT Bombay – Shailesh J Mehta School of Management MumbaiINR 9,06,400
Indian Institute of Foreign Trade (IIFT Delhi)INR 8,85,000
IIM KozhikodeINR 20,00,000
Symbiosis Institute of Business ManagementINR 21,27,950
IIM ShillongINR 14,60,000
DMS IIT DelhiINR 8,00,000
IIT KharagpurINR 11,59,760
IIT KanpurINR 10,97,600
IIM RaipurINR 14,20,400

Best 20 MBA Colleges in India: Placement-wise

For an MBA course, the placement a college offers is of the most vital importance. The candidates are advised to go through the college placement record before enrolling in any MBA college in India. The top MBA colleges are sure to provide you a great placement deals in the campus placement itself. So, Here is the list of the Best 20 MBA colleges in India placement-wise. Have a look:

Name of the CollegeAverage Salary
IIM IndoreINR 30.21 LPA
IIFT Delhi & KolkataINR 29.10 LPA
MDI GurgaonINR 27.67 LPA
IIM TiruchirappalliINR 20.55 LPA
IIM BangaloreINR 35.31 LPA
XLRI JamshedpurINR 32.70 LPA
IIM LucknowINR 32.20 LPA
IIM KozhikodeINR 31.02 LPA
TISS MumbaiINR 27.22 LPA
IIM ShillongINR 26.96 LPA
BITSoM MumbaiINR 23.85 LPA
SCMHRD PuneINR 23.83 LPA
IIM RaipurINR 21.04 LPA
SJMSoM IIT BombayINR 28.88 LPA
IIM CalcuttaINR 35.07 LPA
FMS DelhiINR 34.10 LPA
ISB HyderabadINR 34.21 LPA
Masters Union, GurugramINR 33.10 LPA
SPJIMR MumbaiINR 33.02 LPA
IIT KanpurINR 10.97 LPA

Best 20 MBA Colleges in India: Private Colleges

The best 20 private MBA colleges in India are on par with the par with top MBA colleges in India. These colleges have a good reputation, and it is worthwhile for a candidate to pursue an MBA from one of the best private MBA colleges in India.

The competition is fierce, just as it is for the Top 20 Private MBA Colleges in India. As a result, many genuinely talented students are unable to pass the exam. Rather than dropping their year, many candidates prefer to pursue their degree from the Best Private MBA colleges in India.

These colleges have equally good placement programs, reputable faculty access, and excellent infrastructure facilities. Look below for a list of the Top 20 Private MBA Colleges in India and their average fees:

Name of the CollegeEntrance ExaminationTotal Course Fees (Approx.)
Narsee Monjee Institute of Management Studies (NMIMS)NMAT by GMACINR 5,50,000 - 9,25,000
Xavier School of Management (XLRI)XAT, GMATINR 8,50,000 - 20,00,000
S.P. Jain Institute of Management & Research (SPJIMR)CAT, XAT, GMATINR 7,50,000 - 19,60,000
Management Development Institute (MDI)CAT, GMAT, MDI TestINR 9,73,000 - 25,00,000
Institute of Rural Management (IRMA)IRMA, MAT, CAT, ATMAINR10,10,000 - 11,60,000
FORE School of ManagementGMAT, XAT, CATINR 13,00,000 - 14,98,000
Goa Institute of ManagementCAT, XAT, GMATINR 11,96,000 - 15,98,000
Great Lakes Institute of ManagementCAT, GMAT, CMAT, XATINR 16,65,000 - 18,94,000
Loyola Institute of Business Administration (LIBA)CAT, XATINR 6,01,000 - 12,70,970
Symbiosis Institute of Management Studies (SIMS)SNAPINR 4,06,000 - 13,97,050
ITM Business SchoolCATINR 8,00,000 - 10,25,000
PSG Institute of ManagementMAT, CAT, TANCETINR 8,00,000
Institute of Management Technology (IMT)CATINR6,00,000 - 17,50,000
International Management Institute (IMI)XAT, CAT, GMATINR 11,00,000 - 16,49,000
Indian School of Business (ISB)GMAT, GREINR 30,41,000 - 47,55,000
T.A. Pai Management Institute (TAPMI)CAT, XAT, GMAT, MATINR 16,90,000
Welingkar Institute of Management Development and ResearchCAT, XAT, ATMA, CMAT, GMATINR 11,00,000
Symbiosis Institute of Business ManagementSNAPINR 6,10,000 - 17,06,000
Lal Bahadur Shastri Institute of ManagementCATINR 3,25,000 - 10,89,200
Jagan Institute of Management StudiesCAT, CMAT, XAT, MATINR 7,15,000

Best 20 MBA Colleges in India: Admission Process

There are two modes to get admission to Best 20 MBA colleges in India 

  • Entrance exam
  • Direct Admission based on merit basis or management quota basis

The process of admission to Best MBA colleges in India can be broken down into the following steps:

  • Registration and Applying for the Entrance exam: Registration on the given date or before is often missed by the students, resulting in they cannot appearing for the examination for Best 20 MBA colleges in India. The important exam for MBA is CAT; can be registered on the official website iimcat.in. For other exams like NMAT, XAT, CMAT, and SNAP, the students have to register separately.
  • Clearing the exam: Place your attendance in the examination hall. A lot of students miss the examination even after registration. Come with preparation and the intention of clearing the exam. Wait for the result.
  • Wait for the Shortlisting Process:  The shortlisting process for Best 20 MBA colleges in India course is done based on the total number of students who appear for the exams and the number of seats available. The cutoff for Best MBA colleges in India for all colleges is then announced.
  • Last Admission process stage - GD-PI-WAT Round: In admission for the Best 20 MBA colleges in India this round is for the group discussion and the personal interview. Both carry different weightage for the final result.

Best 20 MBA Colleges in India: Eligibility

The eligibility criteria for the Best 20 MBA colleges in India are provided below. The students are expected to go through the eligibility criteria vigilantly to avoid any mistakes in for applying and pursuing the course Best MBA colleges in India.

  • Students are expected to keep their graduation score up to 50%.  Top colleges such as IIMs and IITs require at least 60% marks to apply for the Best 20 MBA colleges in India.
  • Students belonging to the reserved categories such as OBC, SC, and ST  in Best MBA colleges in India course get 5% relaxation.
  • The majority of MBA colleges allow their final-year students to apply for MBA admissions if the students can submit their provisional certificates from the college. Hence even final-year students can apply for Best 20 MBA colleges in India course.

Best 20 MBA colleges in India: Entrance Exams

The various entrance exams to get into the top Best 20 MBA colleges in India   are as follows:

Exam NameRegistration Dates for the Exam
MH CET9 March – 6 April 2023
CAT 2023September 2023 third week
XAT 2024November 30, 2023
SNAP 2023November 2023 third week
NMAT by GMAC 2023November 2023 last week
CMATDecember 26, 2022 – February 25, 2023
IIFT 2024November 2023 third week
IBSAT 2023November 2023 last week
TISSNET 2024Nov 2023 to Jan 2024

Best 20 MBA colleges in India: Jobs Opportunities and Salary

The job designation and respective job description and average salary for candidates pursuing Best 20 MBA colleges in India are provided below in the table:

Job ProfileJob DescriptionAnnual  Salary
Management ConsultantManagement consultants analyze corporate processes and offer options for improvement, which aid firms in performing better. They create strategies In collaboration with clients, put innovative ideas and strategies into action, and resolve complicated business problems.INR 5-10 lakhs per annum
Human Resources ManagerThey are responsible for hiring, developing, and retaining staff. They monitor compliance with employment laws and regulations, oversee employee benefits, and create and administer HR policies and processes for firms.INR 5-12 lakhs per annum
Marketing ManagerMarketing managers create and execute marketing plans to advertise goods or services. They supervise advertising campaigns, conduct market research to better understand consumer behavior, and work with other departments to create promotional materials.INR 4-12 lakhs per annum
Business Development ManagerThey develop connections with potential customers and look for new business opportunities. They manage sales teams, create and implement plans to enhance sales and negotiate contracts.INR 4-12 lakhs per annum
Operations ManagerThey supervise an organization's daily operations. They manage personnel, establish and execute operational policies and processes, and manage spending and budgets.INR 4-10 lakhs per annum

Best 20 MBA Colleges in India: Recruiters

There are various companies actively recruiting young graduates as interns and also as professionals who pursue the Best 20 MBA colleges in India. Some of the top recruiting companies for Best 20 MBA colleges in India are given below:

  • Accenture
  • AgroTech
  • Amazon
  • Apollo Hospitals
  • Ashok Leyland
  • Asian Paints
  • Bank of America
  • Cognizant
  • Dell
  • Deloitte
  • Edelweiss Securities
  • Flipkart
  • General Electric
  • Godrej                                                 
  • Goldman Sachs                                   
  • Google                                                
  • HCL Technologies                               
  • HDFC Bank                                          
  • Hindustan Unilever                            
  • HSBC                                                   
  • HT Media                                            
  • Infosys                                                
  • Johnson Johnson                                
  • JP Morgan Chase                                
  • Kotak Mahindra Bank                         
  • KPMG                                                  
  • Larsen and Toubro                             
  • Ogilvy and Mather                              
  • ONGC
  • Oracle                                                 
  • Panasonic                                           
  • PepsiCo                                               
  • Philips India
  • Philips India                                        
  • Raymonds
  • Reliance Industries Limited
  • Reserve Bank of India
  • SEBI
  • State Bank of India
  • Tata

Frequently Asked Questions about Best 20 MBA Colleges in India

Here are the Frequently Asked Questions about the Best 20 MBA colleges in India:

Q. What are the top 3 of the Best 20 MBA colleges in India?

Ans. The top 3 of the Best 20 MBA colleges in India are:

Q. Who prepares the Best 20 MBA colleges in India list?

Ans. The list of Best 20 MBA colleges in India is prepared by the NIRF.

Q. What is the average fee of the Best 20 MBA colleges in India?

Ans. The average fee range of the Best 20 MBA colleges in India is INR 6 lakh – INR 10 lakh.

Q. What is the job scope after completing the course from the Best 20 MBA colleges in India?

Ans. The job scope after completing the course from the Best 20 MBA colleges in India are as follows:

  • Management Consultant
  • Marketing Manager
  • Human Resources Manager
  • Operations Manager
  • Business Development Manager

Q. Which is the best MBA college in India?

Ans. According to the most recent NIRF rankings, IIM Ahmedabad is the best MBA college in India. IIM Bangalore is ranked second, IIM Calcutta is ranked third, IIM Lucknow is ranked fourth, and IIT-Delhi-Do MS is ranked fifth.

Q. Between a private and a government MBA college, which is better?

Ans. Any MBA college that is UGC-recognized and AICTE-approved is a good choice because they provide the most up-to-date curriculum. However, the candidate must decide which MBA college to attend from among private and public institutions. Private institutions have better infrastructure, but government institutions have lower fees.

Q. Which are the best MBA colleges in India?

Ans. IIM Bangalore, IIM Ahmedabad, IIM Calcutta, ISB, SPJIMR, FMS Delhi, and many more are among the top MBA colleges in India.

Q. How much does MBA in India cost?

Ans. The average tuition fee for top MBA colleges in India is approximately INR 10,68,413 per year.

Q. Is CAT necessary for MBA?

Ans. No, the candidate must have taken the CAT in order to be admitted to IIM-K. Only CAT scores are accepted by IIMs. IIMs do not accept other entrance exam scores or offer direct admission.

Q. Is GMAT accepted in IIM?

Ans. MBA colleges in India that accept the GMAT include IIMs, ISB, SPJIMR, and many other prestigious institutions. If you are an Indian MBA applicant, you can use your GMAT score to apply to MBA programs both in India and abroad: One-year MBA programs in India include ISB, IIMs, SPJIMR, XLRI, and Great Lakes.

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