Top 150 MBA Colleges in India
Top 150 MBA Colleges in India

Top 100 MBA Colleges in India (You Shouldn’t Miss)



May 10, 2024


TL;DR: India has over 6,000 business schools. The top 100 that matter, ranked by NIRF, are listed here with fees, average salaries, and entrance exams. IIM Ahmedabad, IIM Bangalore, and ISB lead on outcomes. FMS Delhi leads on value. This page helps you move from “which schools exist” to “which schools make sense for my profile.”

You have decided to pursue an MBA in India. That part is clear. What is not clear is where. When you ask around, people mention the IIMs, maybe ISB, maybe XLRI. The usual suspects. But India has over 6,000 business schools, and that number is not helpful. Most aspirants do not need more options. They need a cleaner way to evaluate them.

This guide lists the top 100 MBA colleges in India with the information that actually matters: location, fees, average salary, entrance exams, and program types. The rankings are based on NIRF (National Institutional Ranking Framework), set by India’s Ministry of Human Resource Development, which evaluates schools on teaching resources, research, graduate outcomes, inclusivity, and perception. It is standardized and transparent — the government benchmark.

100 schools is too many to shortlist on your own

A free profile evaluation tells you which programs on this list you are genuinely competitive for, based on your GMAT score, work experience, and goals.

Get Free Profile Evaluation

Top 5 MBA Colleges in India: Quick Answer

#1

IIM Ahmedabad
Best Overall
Avg Salary₹35.22 L
Fee (PGP)₹27.5 L
ExamCAT / GMAT (PGPX)

#2

IIM Bangalore
Best ROI
Avg Salary₹34.88 L
Fee (PGP)₹26 L
ExamCAT / GMAT (EPGP)

#ISB

ISB Hyderabad
Best for Experienced
Avg Salary₹34.21 L
Fee₹45.12 L
ExamGMAT / GRE

#10

XLRI Jamshedpur
Best Private
Avg Salary₹31.08 L
Fee₹28.6 L
ExamXAT

Value

FMS Delhi
Best Value
Avg Salary₹26 L
Fee₹2 L (full program)
ExamCAT / GMAT

Complete List: Top 100 MBA Colleges in India with Fees and Salaries

Note: ISB is an independent, non-degree granting institution that does not fit the NIRF regulatory framework and therefore does not appear on the NIRF list. It is ranked #1 in India and #27 globally by the Financial Times.

Rank College Location Type Program Fee (₹) Avg Salary (₹)
1 IIM Ahmedabad Ahmedabad Public PGP / PGPX 27.5L / 35–37L 35.22L / 35.68L
2 IIM Bangalore Bengaluru Public PGP / EPGP 26L / 33.71L 34.88L / 35.5L
3 IIM Kozhikode Kozhikode Public PGP 26.17L 28.18L
4 IIT Delhi (DMS) New Delhi Public MBA 12.4L 24.45L
5 IIM Lucknow Lucknow Public PGP 22L 32.3L
6 IIM Mumbai (fmr. NITIE) Mumbai Public MBA 25L 29.44L
7 IIM Calcutta Kolkata Public PGP / PGPEx 27L / 42L 34.23L / 32.68L
8 IIM Indore Indore Public PGP 20.11L 29.57L
9 MDI Gurgaon Gurugram Private PGPM 18.5L 25.6L
10 XLRI Jamshedpur Jamshedpur Private PGDM 28.6L 31.08L
11 Symbiosis Institute of Business Management Pune Private MBA 24.2L 26–28L
12 IIT Kharagpur Kharagpur Public MBA 11.6L 17.21L
13 IIT Madras Chennai Public MBA 8L 12.44L
14 IIT Bombay Mumbai Public MBA 10.08L 20.8L
15 IIM Raipur Raipur Public PGP 14.2L 15.2L
16 IIM Tiruchirappalli Tiruchirappalli Public PGPM 16.5L 12L
17 IIFT New Delhi New Delhi Public MBA 15.2L 20.48L
18 IIM Ranchi Ranchi Public PGDM 15L 15.11L
19 IIM Rohtak Rohtak Public PGP 15.2L 11.85L
20 SP Jain Institute of Management and Research Mumbai Private PGDM 15.74L 26.36L
21 IIM Udaipur Udaipur Public MBA 5.35L 13.2L
22 IIT Roorkee Roorkee Public MBA 5.06L 10.12L
23 IIM Kashipur Kashipur Public MBA 14.75L 12.19L
24 NMIMS Mumbai Mumbai Private MBA 14.5L 17.79L
25 IIM Nagpur Nagpur Public PGP 11.5L 13.21L
26 Amrita Vishwa Vidyapeetham Coimbatore Private MBA 12–13.6L 7–9L
27 IIT Kanpur Kanpur Public MBA 9L 12.77L
28 Jamia Millia Islamia New Delhi Public Exec. MBA 47K 6L
29 IIM Visakhapatnam Visakhapatnam Public PGP 10.5L 13.08L
30 IMT Ghaziabad Ghaziabad Private PGDM 17.5L 13.7L
31 IIM Bodh Gaya Gaya Public PGP 11L 11.02L
32 Chandigarh University Mohali Private MBA 5–8L 8–12L
33 MICA Ahmedabad Ahmedabad Private PGDM 26–28L 19–20L
34 IIM Sambalpur Sambalpur Public PGP 13.03L 10.87L
35 IIM Jammu Jammu Public MBA 14.82L 10.8L
36 UPES Dehradun Dehradun Private MBA 14.2L 5.02L
37 Great Lakes Institute of Management Chennai Private PGPM 17.15L 12.1L
38 IIM Shillong Shillong Public PGP 14.6L 18.76L
39 T.A. Pai Management Institute (TAPMI) Manipal Private PGDM 15.1L 11.1L
40 IMI Delhi New Delhi Private PGDM 18.35L 13.11L
41 Jaipuria Institute of Management (Noida) Noida Private PGDM 10.45L 6.49L
42 IMI Kolkata Kolkata Private PGDM 12.4L 7.1L
43 Goa Institute of Management (GIM) Goa Private PGDM 14.98L 11.3L
44 Lovely Professional University Phagwara Private MBA 2.8L 7L
45 XIM University (Xavier University Bhubaneswar) Bhubaneswar Private Exec. MBA 19.7L 14.6L
46 Thapar Institute of Engineering and Technology Patiala Private MBA 8.28L 6.5L
47 ICFAI Foundation for Higher Education Hyderabad Private Exec. MBA 7.02L 7.32L
48 IIT (ISM) Dhanbad Dhanbad Public MBA 3.45L 10L
49 Amity University Gautam Budh Nagar Private MBA 8.8L 4.5L
50 Great Lakes Institute of Management (Gurgaon) Gurgaon Private PGPM 18.81L 15–22L
51 IIM Sirmaur Sirmaur Public MBA 11.75L 11.28L
52 Graphic Era University Dehradun Private MBA 9–12.9L 6–8L
53 Nirma University Ahmedabad Private MBA 9.52L 8.7L
54 IRMA Anand Anand Private MBA / PGDM 10.1L 10.04L
55 Loyola Institute of Business Administration Chennai Private PGDM 2.2L 10L
56 SRM Institute of Science and Technology Chennai Private MBA 7.5L 4–7L
57 NIT Tiruchirappalli Tiruchirappalli Public MBA 1.9L 6.9L
58 Christ University Bengaluru Private MBA 11.4L 8–10L
59 FORE School of Management New Delhi Private PGDM 15.98L 10.6L
60 Banaras Hindu University Varanasi Public MBA 98.8K 7.5L
61 BIMTECH Greater Noida Greater Noida Private PGDM 9L 8.24L
62 Malaviya NIT Jaipur Jaipur Public MBA 3.17L 4.8L
63 Saveetha Institute Chennai Private MBA 7L 4.5L
64 IIM Amritsar Amritsar Public MBA 12L 17.86L
65 K.J. Somaiya Institute of Management Mumbai Private MBA 16.29L 10.08L
66 Siksha O Anusandhan Bhubaneswar Private MBA 11L 6–8L
67 Jaipuria Institute of Management Lucknow Lucknow Private MBA / PGDM 10.45L 6.49L
68 KIIT Bhubaneswar Bhubaneswar Private MBA 13.6L 7.33L
69 Aligarh Muslim University Aligarh Public MBA 2.96L 4.5L
70 KL University Vaddeswaram Private MBA 5.2L 3.6L
71 Alliance University Bengaluru Private MBA 7.6L 13.5L
72 IMT Hyderabad Hyderabad Private PGDM 14L 7.64L
73 Jain University Bengaluru Private MBA 13.3L 10.8L
74 Jaipuria Institute of Management Jaipur Jaipur Private PGDM 15.25L 7–9L
75 Prin. L.N. Welingkar Institute Mumbai Private PGDM 11.04L 8.79L
76 GGSIPU New Delhi New Delhi Public MBA 56K 4L
77 BML Munjal University Gurgaon Private Exec. MBA 14.5L 8.75L
78 Chitkara University Rajpura Private MBA 5.6L 8L
79 Babasaheb Bhimrao Ambedkar University Lucknow Public MBA 1.95L 6L
80 Thiagarajar School of Management Madurai Private MBA 8L 5.81L
81 Manipal University Jaipur Jaipur Private MBA 12L 8–10L
82 Cochin University of Science and Technology Cochin Public MBA 1.12–2.8L 4.7–9.1L
83 MMMUT Gorakhpur Gorakhpur Public MBA 2.4L 5–7L
84 PSG College of Technology Coimbatore Private MBA 1.04L 4L
85 NIT Calicut Kozhikode Public MBA 4.3L 7–9L
86 New Delhi Institute of Management New Delhi Private PGDM 9.7L 7.45–8.5L
87 Jamia Hamdard New Delhi Public MBA 3–5L 5.5L
88 Anna University Chennai Public MBA 82K 4.71L
89 Pandit Deendayal Energy University Gandhinagar Private MBA 8.23L 6.5L
90 JIMS Delhi Delhi Private PGDM 8L 6.5L
91 Rajagiri Business School Cochin Private MBA 6L 4.5L
92 Panjab University Chandigarh Public MBA 5L 9.44L
93 ABV-IIITM Gwalior Gwalior Public MBA 3.38L 8–8.25L
td>IMI Bhubaneswar Bhubaneswar Private PGDM 12.27L 8.43L
95 NAARM Hyderabad Hyderabad Public PGDM 6.05L 8.6L
96 Bharathidasan Institute of Management Tiruchirappalli Private PGP 14.48L 9.2L
97 Birla Institute of Technology Ranchi Ranchi Private MBA 5.85L 4.1L
98 IIT Jodhpur Jodhpur Public MBA 9.45L 12–15L
99 IMT Nagpur Nagpur Private PGDM 12.04L 7.94L
100 University of Lucknow Lucknow Public MBA 3.24L 7–7.5L

Source: NIRF 2025. Fees and salaries are approximate for 2025–26. ISB is not on NIRF but is ranked #1 in India and #27 globally by the Financial Times.

Targeting IIM Executive programs or ISB means hitting a GMAT target first

Our
gmat online coaching is built around your target school and timeline. Live classes, mock tests, and section-specific error analysis included.

Explore GMAT Coaching

Deep Dive: Top 10 MBA Programs in India

#1IIM AhmedabadPGPX (Executive)
Fee₹35–37L
Avg Salary₹35.68L
Avg GMAT705
Experience4+ years

One-year executive MBA for candidates with 4+ years of work experience. The most competitive executive MBA in India. The cohort skews older than ISB. If you are comparing them, the key difference is academic rigor (IIMA is more structured) and cohort experience. Admission requires a bachelor’s degree, GMAT/GRE score valid within 36 months, and a minimum of 4 years of work experience. Shortlisted candidates go through a personal interview before final selection.

#2IIM BangaloreEPGP (Executive)
Fee₹33.71L
Avg Salary₹35.5L
Avg GMAT705+
Experience5–12 years

One-year executive program known for operational rigor. IIMB requires a bachelor’s degree with 50%, 5–12 years of work experience, and a valid GMAT/GRE. Shortlisted candidates complete a personal interview. Admission decisions weight interview, work experience, and academic record together.

#3IIM KozhikodePGP (Two-year)
Fee₹26.17L
Avg Salary₹28.18L
ExamCAT 85th percentile

Two-year PGP. Known for strong placements in consulting and finance. The remote campus is a genuine trade-off. IIM K moved up to #3 in NIRF 2025, reflecting consistent improvement in placement outcomes and research. GMAT is accepted for international students.

#4IIT Delhi (DMS)MBA (Two-year)
Fee₹12.4L
Avg Salary₹24.45L
ExamCAT 90th percentile

Strong quant orientation. Good placements in tech and consulting. Lower fees than top IIMs with placement outcomes that hold up. Requires CAT 90th percentile overall and 80th sectional. The fee-to-placement ratio here is genuinely strong.

#7IIM CalcuttaPGPEx (Executive)
Fee₹42L
Avg Salary₹32.68L
Avg GMAT685+
Experience5+ years

One-year executive MBA. IIM C’s advantage is faculty depth. If you value academic rigor over experiential learning, this fits. The ₹42L fee includes tuition, materials, accommodation, and international immersion. GMAT must be within 36 months of application.

ISBIndian School of BusinessPGP (One-year)
Fee₹45.12L
Avg Salary₹34.21L
GMAT Range680–730 (mid 80%)
Experience2–20 years

ISB does not appear on NIRF because it is an autonomous institution, not a university. It is ranked #1 in India and #27 globally by the Financial Times. It is the one-year MBA option if you have work experience but do not want a two-year commitment. The cohort skews younger than IIM executive programs. ISB accepts only GMAT or GRE. Minimum 24 months of full-time work experience required. For a detailed read on what the score expectations look like, see
gmat score for isb.

MBA Colleges by City: Where Location Actually Matters

Location matters not because of weather or food, but because of industry access, internship opportunities, and the post-MBA job market you will be recruiting into. Choose your city based on where you want to work, not where you want to live for two years.

Bangalore Startup and tech hub
  • IIM Bangalore26L
  • Alliance University7.6L
  • IISc DMS5.79L
  • XIME12.9L
  • MS Ramaiah6L
Mumbai Finance and consulting capital
  • IIT Bombay10.08L
  • IIM Mumbai25L
  • SP Jain15.74L
  • NMIMS14.5L
  • KJ Somaiya16.29L
Hyderabad IT and consulting cluster
  • ISB45.12L
  • ICFAI Foundation7.02L
  • IMT Hyderabad14L
  • IBS17L
  • IPE Hyderabad9.15L
Delhi/NCR Public sector and policy access
  • IIT Delhi12.4L
  • IIFT15.2L
  • IMI Delhi18.35L
  • Jamia Millia Islamia47K
  • FORE School15.98L

What GMAT Score Do You Need for These Colleges

GMAT matters for Executive programs and for ISB. Here are the benchmarks that hold up across recent admission cycles.

School / Program Typical GMAT Note
IIM-A PGPX, IIM-B EPGP, IIM-C PGPEx 705+ Most competitive executive programs in India. Work experience is equally important as the score.
ISB PGP 685–725 (mid 80%) Middle 80% range. A 655 can get in with a strong profile compensating. Average is around 710.
SP Jain PGDM 650+ More flexible than top IIMs on GMAT but profile weight is significant.
FMS Delhi (Executive) 600–650 Lower benchmark given the program’s fee structure. Strong placement outcomes regardless.
Mentor insight: A 750 GMAT with a weak professional story will lose to a 700 with a compelling one at most top Indian schools. The score opens the door. The profile determines whether you walk through it. If you are unsure how your profile stacks up for your target programs, read this guide on
improve mba profile before you invest time in applications.

How to Choose the Right MBA College

Here is a framework that cuts through the noise.

Step 1: Define your post-MBA goal specifically. Not “I want to do marketing.” Be more specific: “I want to join an FMCG brand as an assistant brand manager” or “I want to switch from engineering to product management at a tech company.” The more specific your target, the easier it is to evaluate whether a school’s placement record gives you a realistic path to it.

Step 2: Look at placement reports, not just averages. Which companies recruit from which schools? If your target companies do not recruit at a school, that is a hard data point. The average salary means less if it is driven by a small number of high outliers.

Step 3: Calculate ROI honestly. Fee divided by average salary. Lower is better. But also consider whether the school places students in roles you actually want. For help building this calculation around your specific goals, the guide on
class profile choosing mba is worth reading before you finalise.

Step 4: Evaluate your profile fit. Some schools prefer candidates with work experience. Others take freshers. Some weight GMAT heavily. Others care more about extracurriculars. Use the
MBA fit finder to map your background against programs before you invest time building applications.

Step 5: Consider location for career access, not comfort. Finance targets Mumbai. Tech and product targets Bangalore or Hyderabad. Management consulting targets top IIMs and ISB across all cities.

“I had a shortlist of 11 schools and was ready to apply to all of them. After a profile evaluation, I applied to 4. Got into 2. One of those was ISB. The clarity of which schools were actually realistic for my profile saved me three months of wasted effort.”

Priya Nair | GMAT 710 | Admitted to ISB PGP 2025

Shortlist done. Now build the application that gets you in.

Our
mba admissions consulting covers essays, recommendations, interview prep, and application strategy end to end.

Talk to an Admissions Consultant

MBA vs PGDM vs PGP: What the Nomenclature Means

You will notice some schools offer MBA, others PGDM (Post Graduate Diploma in Management), and some PGP (Post Graduate Programme). Here is what matters. An MBA is awarded by universities. A PGDM is awarded by autonomous institutions not classified as universities. A PGP is what IIMs offer because they are autonomous, not universities. AICTE recognises PGDM as equivalent to MBA for employment and higher studies. From a recruiter’s perspective, the distinction between MBA, PGDM, and PGP does not matter. The institution matters. For a full breakdown, read the guide on
mba vs pgdm.

Frequently Asked Questions: Top MBA Colleges in India

What are the top 10 MBA colleges in India?

Based on NIRF 2025 rankings: IIM Ahmedabad, IIM Bangalore, IIM Kozhikode, IIT Delhi, IIM Lucknow, IIM Mumbai, IIM Calcutta, IIM Indore, MDI Gurgaon, and XLRI Jamshedpur. ISB Hyderabad, though not on NIRF, is ranked #1 in India by Financial Times.

Which is the No. 1 IIM in India?

IIM Ahmedabad is consistently ranked #1 among IIMs by NIRF. It is followed by IIM Bangalore and IIM Kozhikode in the 2025 rankings. IIM Calcutta, which was at #3 previously, dropped to #7 in 2025.

Do business schools in India accept GMAT scores?

Yes. Over 100 Indian business schools accept GMAT scores. IIMs accept GMAT for Executive programs and international students. ISB accepts only GMAT or GRE. SP Jain, NMIMS, IIFT, and MDI also accept GMAT. For two-year full-time PGP programs at the top IIMs, CAT is the standard exam for domestic students.

What is the difference between MBA and PGDM in India?

MBA is a degree awarded by universities. PGDM is a diploma awarded by autonomous institutions. PGP, used by IIMs, is also a diploma program from autonomous institutions. AICTE recognises PGDM as equivalent to MBA for employment. Recruiters evaluate the institution, not the nomenclature.

Which MBA college has the best ROI in India?

FMS Delhi offers the best fee-to-placement ratio: approximately ₹2 lakh in fees with average placements around ₹26 lakh. Among premium programs, IIM Bangalore delivers strong ROI with ₹26 lakh fees and ₹34.88 lakh average salary. IIT Delhi (₹12.4L fee, ₹24.45L salary) is another strong value option.

How should I choose between IIM executive programs and ISB?

The main differences are cohort age, program structure, and brand positioning. IIM executive programs (PGPX, EPGP, PGPEx) tend to have older cohorts (average 8 to 10 years of experience) and a more academic structure. ISB skews younger (average 5 years) and is more application-oriented. Both are GMAT-required. Your experience level and learning style are better guides than rankings alone.

What to Do Next

You have seen the data. You know the schools, the fees, and the placement outcomes. The harder part is not knowing which schools exist. It is knowing which ones make sense for your specific profile.

Start with your goal: what role do you want to be in two to three years post-MBA, and which schools actually place people into that role. Then look at whether your profile is genuinely competitive for those programs. Apply to three to five schools where you are a real candidate, not fifteen schools where you are hoping something sticks.

If you want help thinking through MBA options in India versus internationally, the comparison in
mba india vs abroad gives you a clear framework.

Know which schools on this list are worth your time

A free profile evaluation maps your GMAT score, work experience, and goals against real program expectations. It is the most direct way to go from “which schools” to “my schools.”

Get Free Profile Evaluation




Frequently asked questions

What are the top 10 MBA colleges in India?

Based on NIRF rankings:

  1. IIM Ahmedabad
  2. IIM Bangalore
  3. IIM Kozhikode
  4. IIT Delhi
  5. IIM Lucknow
  6. IIM Mumbai
  7. IIM Calcutta
  8. IIM Indore
  9. MDI
  10. XLRI
Which is the No.1 IIM in India?

IIM Ahmedabad.

The top 5 IIMs are:

  1. IIM Ahmedabad
  2. IIM Bangalore
  3. IIM Kozhikode
  4. IIM Lucknow
  5. IIM Calcutta
What is the salary of IIM graduate?

The salary of an IIM graduate will vary based on which IIM they graduate from.
Here are the average IIM salaries:

  1. IIM Ahmedabad – ₹26,13,000
  2. IIM Bangalore – ₹26,18,000
  3. IIM Calcutta – ₹29,00,000
  4. IIM Lucknow – ₹24,25000
  5. IIM Kozhikode – ₹22,50,000
  6. IIM Indore – ₹18,17,000
  7. IIM Trichy – ₹12,00,000
  8. IIM Udaipur – ₹13,20,000
  9. IIM Raipur – ₹15,20,000
  10. IIM Ranchi – ₹15,11,000
  11. IIM Rohtak – ₹11,85,000
  12. IIM Shillong – ₹18,76,000
  13. IM Kashipur – ₹12,19,000
  14. IIM Nagpur – ₹13,21,000
  15. IIM Amritsar – ₹17,86,000
  16. IIM Visakhapatnam – ₹13,08,000
  17. IIM Bodh Gaya – ₹11,02,000
  18. IIM Sirmaur – ₹11,28,000
  19. IIM Jammu – ₹10,80,000
  20. IIM Sambalpur – ₹10,87,000
Which MBA field is the best?

There’s no “best” field. There’s the field that fits your strengths and career goals.

If you’re good with numbers and want high-pay early-career roles, finance.

If you’re creative and enjoy consumer behavior, marketing.

If you like process and systems, operations.

Don’t choose based on what sounds prestigious. Choose based on what you’re good at and what you want to do.

Do business schools in India accept GMAT scores?

Yes. Over 100 business schools in India accept GMAT.

IIMs (A, B, C, K, I, L) accept GMAT for executive programs and international students. ISB accepts only GMAT (or GRE). SP Jain, NMIMS, and IIFT accept GMAT.

If you’re targeting one-year executive programs, GMAT is your entrance exam.

Which are the Indian B-schools that accept GMAT scores?

Key schools:

  1. FMS Delhi
  2. IIFT
  3. IIM Ahmedabad (PGPX)
  4. IIM Bangalore (EPGP)
  5. IIM Calcutta (PGPEx)
  6. IIM Lucknow (IPMX)
  7. IIT Madras
  8. ISB Hyderabad
  9. ISB Mohali
  10. NMIMS
  11. SP Jain

Written by Arun J.

Arun, India's leading GMAT and MBA expert, has coached over 30,000 students in his 20-year EdTech career. His alumni have made it into top business schools including Harvard, Stanford, Wharton, and ISB.

0 Comments

Submit a Comment

You May Also Like…