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Tier 1 MBA colleges in India are not only determined as per the location but it is also upto the ROI provided by the institutions in terms of placement, Fees, etc, below you will find the Best yet Cheapest Tier 1 MBA colleges in India.
We all know that MBA opens the door to tons of opportunities and it is also one of the most sought-after degrees in the world is a Master of Business Administration (MBA).
And Without any doubt or debate we can say that , it is the dream of every management aspirant to pursue their MBA in one of the top management institutions due to the quality of education offered and the assured placements with better remuneration. A reputable top MBA college is always in search of MBA experts with management degrees.
Cheapest tier 1 MBA colleges in India & ROI of MBA Colleges with Fees Under 5 Lakhs
A student's return on investment (ROI) describes the profit they make from attending a certain institution or university. During placement drives, it's the difference between the average salary package available during placement drives and the financial investment required to enroll in an MBA program. We have compiled a list of the best MBA schools with tuition under 5 lakhs and their ROIs.
| Name of the Institute | Average Annual Fees (in INR) | Average Package Offered (in INR) | Highest Package Offered (in INR) |
|---|---|---|---|
| University of Mumbai | 8,000 - 2,00,000 | 5,20,000 - 12,00,000 | 57,65,000 |
| Faculty of Management Studies (FMS), Delhi University | 1,94,000 | 34,10,000 | 1,23,00,000 |
| Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai | 3,04,000 | 28,02,000 | 35,75,000 |
| SIMSREE Mumbai | 1,35,000 | 10,97,000 | 19,00,000 |
| Christ University, Bangalore | 2,40,000 | 6,00,000 | 21,46,000 |
| The ICFAI University, Dehradun | 1,28,000 | 6,33,000 | 23,00,000 |
| PUMBA Pune - Department of Management Sciences Savitribai Phule Pune University | 1,32,388 | 8,01,000 | 15,30,000 |
| Vels Institute of Science, Technology & Advanced Studies, Chennai | 1,75,000 to 2,10,000 | 6,60,000 | 8,00,000 |
| Delhi Technical University (DTU), Delhi | 2,79,000 | 6,40,000 | 18,00,000 |
| KJ SIMSR Mumbai | 3,30,000 | 10,67,000 | 26,50,000 |
ROI = (Average Placement Package/Average Annual Fees)*100%
Several top-notch institutions in India offer MBA courses at affordable tuition, with excellent faculty and facilities. Among the top MBA colleges in India are located in Mumbai, Delhi, Gujarat, and Kolkata. For a two-year full-time residential MBA program, these MBA colleges charge fees ranging from Rs. 50,000 to Rs. 10 Lakhs, which is significantly less than other prominent MBA colleges like IIMs, XLRI, MDI, and SPJIMR, which charge between Rs. 17 lakhs and Rs. 24 lakhs. Also, government colleges charge less than private MBA institutions, and EMBA courses are another way to get an affordable MBA degree.
Here are the top 10 Cheapest tier 1 MBA colleges in India under 5 lakhs, ROIs offered, and entrance exams accepted.
List of 10 Cheapest tier 1 MBA colleges in India with Fees Under 5 Lakhs
The table provided below contains the top MBA Colleges in India with fees under 5 lakhs:
| Name of the College | Entrance Exams Accepted | Course Name | Course Fees |
|---|---|---|---|
| Prin. L. N. Welingkar Institute of Management Development & Research-Mumbai | CAT/XAT/ATMA/GMAT/CMAT | PGP Media and Entertainment Management | INR 4,00,000 |
| Delhi Technical University (DTU), Delhi | CAT | Master of Business Administration | INR 2,90,000 |
| Institute of Management Studies, Banaras Hindu University | CAT | MBA in International Business | INR 99,288 |
| Ambedkar University, Delhi | AUD MBA Entrance Test | MBA/PGDM | INR 3,00,000 |
| Faculty of Management Studies (FMS), Delhi University | CAT | Master of Business Administration | INR 1,94,000 |
| Tata Institute of Management Studies (TISS), Mumbai | TISSNET | MBA in Human Resource Management and Labor Relations | INR 1,85,000 |
| Department of Financial Studies, Delhi University | CAT | MBA in Financial Management | INR 1,51,000 |
| Christ University, Bangalore | CAT/ MAT/CMAT/ GMAT/ GRE/ ATMA & XAT | Master of Business Administration | INR 4,75,000 |
| Birla Institute of Technology and Science (BITS), Pilani | CAT / XAT/ GMAT | MBA in Business Analytics | INR 5,08,000 |
| MIT Pune-MIT World Peace University | CAT/XAT/NMAT/GMAT/CMAT/ATMA/MAH MBA CET/PERA/MAT | MBA | INR 4,55,000 |
Tier 1 MBA colleges in India MBA Fees of IIMs
The Indian Institutes of Management (IIMs) are the most prestigious MBA colleges in India. India is home to over 20 IIM campuses scattered across the country, each with its own unique fee structure. And IIM Mumbai (Formerly NITIE) is the 21st IIM.
Choosing an IIM institution based on the fee structure is crucial for candidates to make an informed decision. IIM Sirmaur's PGP program costs INR 11 lakh, while IIM Ahmedabad's MBA program costs INR 23 lakh.
In the table provided below are listed the IIM fees for MBA 2023:
| IIMs | Programme Fee Approx. |
|---|---|
| IIM Ahmedabad(IIM A) | INR 23,00,000 |
| IIM Bangalore(IIM B) | INR 23,00,000 |
| IIM Calcutta(IIM C) | INR 27,00,000 |
| IIM Lucknow(IIM L) | INR 19,25,000 |
| IIM Indore(IIM I) | INR 17,00,000 |
| IIM Kozhikode(IIM K) | INR 17,50,000 |
| IIM Shillong(RGIIM) | INR 13,00,000 |
| IIM Raipur | INR 14,20,400 |
| IIM Ranchi | INR 15,30,000 |
| IIM Rohtak (IIM R) | INR 15,20,000 |
| IIM Kashipur | INR 14,75,000 |
| IIM Trichy | INR 11,80,000 |
| IIM Udaipur (IIM U) | INR 17,05,400 |
| IIM Amritsar | INR 12,00,000 |
| IIM Bodh Gaya (IIM BG) | INR 11,00,000 |
| IIM Nagpur (IIM N) | INR 13,75,000 |
| IIM Sambalpur | INR 13,03,000 |
| IIM Sirmaur(IIM S) | INR 11,75,000 |
| IIM Visakhapatnam (IIM Vizag) | INR 10,70,000 |
| IIM Jammu (IIM J) | INR 14,82,000 |
| IIM Mumbai (Formerly NITIE) | INR 21 Lakhs for 2 years. |
MBA Fees of Top B-Schools Other than IIMs (Tier 1 MBA colleges in India)
There are many other B-schools in India that have been ranked among the top. A few of them are MDI Gurgaon, IIFT-Delhi, and XLRI-Jamshedpur. MBA fees of these colleges range from INR 11 lakh per annum to INR 30 lakh.
The table provided below will help you know the MBA Fees of top B-Schools other than IIMs.
| College | Program Offered | Fees |
|---|---|---|
| FMS, Delhi | MBA | INR 20,960 |
| MDI, Gurgaon | PGPM | INR 21.34 lakh |
| IIFT, New Delhi | MBA International Business | INR 16.25 lakh |
| Symbiosis Institute Of Business Management, Pune | MBA | INR 11.32 lakh |
| IMI, Delhi | PGDM | INR 18.34 lakh |
| IMT, Ghaziabad | PGDM | INR 17.55 lakh |
| BIMTECH, Greater Noida | PGDM | INR 12.00 lakh |
| IRMA, Anand | PGDRM | INR 12.08 lakh |
| TAPMI, Manipal | PGDM | INR 15.10 lakh |
| Symbiosis Institute of Business Management, Bangalore | MBA | INR 8.00 lakh |
| XLRI Jamshedpur, Xavier School of Management | PGDM | INR 22.00 lakh |
| SPJIMR, Mumbai | PGDM | INR 17.87 lakh |
| ISB, Hyderabad | PGPM | INR 35.98 lakh |
| Jamnalal Bajaj Institute of Management Studies, Mumbai | MMS | INR 6.00 lakh |
| NMIMS Mumbai, School of Business Management | MBA | INR 17.50 lakh |
| Prin. L. N. Welingkar Institute of Management Development & Research, Mumbai | PGDM | INR 11.00 lakh |
| K. J. Somaiya Institute of Management Studies And Research, Mumbai | PGDM International Business | INR 11.66 lakh |
| Xavier Institute of Management, XIMB, Bhubaneshwar | MBA Business Management | INR 18.30 lakh |
| Great Lakes Institute of Management, Chennai | PGPM | INR 17.15 lakh |
| Entrepreneurship Development Institute of India, Ahmedabad | PGDM Business Entrepreneurship | INR 13.22 lakh |
Colleges with MBA Fees Less than Rs 10 lakh
Some of the colleges that have MBA fees less than INR 10 lakh per annum are provided in the table below.
| College | Program Offered | Fees |
|---|---|---|
| IIT Delhi, Department of Management Studies | MBA Telecommunication Systems Management | INR 8.80 lakh |
| IIT Bombay, Shailesh J. Mehta School of Management | MBA | INR 8.32 lakh |
| BITS, Pilani | MBA | INR 7.64 Lakh |
| IIT Roorkee | MBA | INR 9.21 lakh |
| NITIE, Mumbai | PGD Industrial Safety and Environmental Management | INR 12.53 lakh |
| IIT Kharagpur, Vinod Gupta School of Management | MBA | INR 10.82 lakh |
| Symbiosis Centre for Management and Human Resource Development, Pune | MBA | INR 8.13 lakh |
| BML Munjal University, Gurgaon | MBA | INR 5.25 lakh |
| Amity University, Gwalior | MBA | INR 5.16 lakh |
| KIIT School of Management, Bhubaneswar | MBA | INR 9.2 lakh |
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