Top MBA Colleges in India 2023: Ranking, Fees, Average Salary, Entrance Exam

Top MBA Colleges in India – In this rapidly evolving business era, there is a great demand for business administration. In India, there are many MBA colleges, but choosing the right one is very important. The MBA College you choose has to offer top-notch education, reputation, excellent placement opportunities, alumni network, faculty, etc., which would lead to a rewarding career.

There has always been a constant search for the Best MBA Colleges in India as the demand for management professionals has increased and the remuneration provided after an MBA degree is fairly high. In this article, you will find the Top MBA colleges, which are ranked based on several parameters and factors.

List of Top MBA Colleges in India 2023 – Top Business School

Here is the 2023 updated list of the Top ranked MBA colleges in India:

Note: *Data may differ and fluctuate, as per NIRF Ranking.

There are more than 5000 colleges that offer MBA programs in India. CAT, XAT, and CMAT are the main accepting exams to get into top MBA colleges in India. As per NIRF ranking 2023, the best MBA colleges in India are IIM Ahmedabad, IIM Bangalore, IIM Calcutta, etc. Top recruiters for MBA are Amazon, Apple, Bain & Company, Citigroup, Deloitte, Facebook, Accenture, etc.

How to Get Admission to Top Ranked MBA Colleges in India

Here are the eligibility criteria to get into top MBA colleges in India :

• Must have passed graduation in any discipline or equivalent from a recognized university as an essential eligibility criterion for MBA.
• Most institutes follow the minimum score criteria in graduation which are 50% aggregate or equivalent CGPA. For reserved category students, the minimum aggregate is 45%or equivalent CGPA. 
• Final-year graduation candidates are also eligible to apply for MBA, provided they present the proof of completion of graduation degree within the duration specified by the institute.

Top MBA Colleges in India – As per NIRF Ranking

The National Institutional Ranking Framework or NIRF rankings are published every year as official data to know more about the colleges and universities in order to get the best one for the future. There are various factors while choosing the best college which are graduation rate, research and professional practices, teaching and learning resources, and the overall impression of the institution, are used to determine rankings and ratings.

Top 10 MBA Colleges in India – As per NIRF 2021

Here are the top 10 MBA colleges in India as per NIRF 2021 and its NIRF Score:

Top 10 MBA Colleges in India – As per NIRF 2022

Here are the top 10 MBA colleges in India as per NIRF 2022 and its NIRF Score:

Top 10 B-Schools in India – As per NIRF 2023

Here are a list of the top 10 B-Schools in India ranked and scored as per NIRF 2023 :

Top IIMs Interview/Admission Experiences: Real Insights from Aspirants

These experiences from aspirants can give you a better understanding of the interview process, questions asked, and the overall atmosphere of each IIM:

Entrance Exams Required for MBA Colleges in India

The two most popular entrance exams accepted in top MBA Colleges in India are:

• CAT: Common Admission Test (CAT) is a national-level management aptitude test for admission to the courses offered by 20 IIMs and over 1,200 B-schools in India. The examination is divided into three sections that are Verbal Ability and Reading Comprehension, Data Interpretation and Logical Reasoning, and Quantitative Aptitude.

*To know more about the CAT examination latest CAT Artciles.

• XAT: XAT (Xavier Aptitude Test) is a national-level management entrance examination conducted by XLRI, Jamshedpur for admission to MBA/PGDM programs. This examination preparation needs at least six to nine months.XAT requires dedicated time and effort. It comprises four sections: Decision Making, Logical Reasoning, and General Knowledge.
• MAT: Management Aptitude Test is a national-level entrance exam which is conducted by the All India Management Association (AIMA) for admissions to MBA/PGDM courses. The exam is conducted in multiple sessions in four phases – February, May, September, and December. This examination is conducted offline (Paper Based Test or PBT), online (Computer Based Test or CBT), and remotely proctored (Internet Based Test or IBT) modes.

Best MBA Colleges in India with Low Fees

MBA is an expensive degree to pursue in India, but there are some colleges which ask for very low fees as compared to other institutes, and also their placements and facilities are also up to the mark , the list is given below –

Top 10 MBA Colleges in India: Rankings, Fees, Admissions, Placements

So here are some of the Top MBA Colleges in India as per various factors-

1. IIM Ahmedabad – Indian Institute of Management

• Situated at Ahmedabad, Gujrat
• In Financial Times Global MBA Ranking 2022, IIMA was positioned 62nd out of 100 B-Schools
• IIMA is the country first MBA college to be accredited by the European Quality Improvement System

2. IIM Bangalore – Indian Institute of Management

• Located in the southern region of Bangalore.
•  Engaging and one of the best campus life.
• Infrastructure includes a sports center with soccer, cricket, tennis, basketball, volleyball, table tennis, and badminton facilities, as well as a gymnasium and a swimming pool.
• Provides an opportunity to participate in a Student Exchange Program with colleges in North America, Europe, Asia, Australia, and South America.

3. Indian Institute of Management Calcutta

• IIM Calcutta is located in Joka, Calcutta
• Oldest IIM, having been founded in 1961.
• A post office, ATMs, a café coffee day outlet, and medical facilities are available on campus.
•  One of the three business schools in the country to have triple accreditation.

4. IIM Kozhikode – Indian Institute of Management

• IIM Kozhikode is located in the Kunnamangalam region of Calicut
• The college has 17 hostels for students
• The Institute has a comprehensive international exchange program for faculty and students with a number of prominent institutions in ASEAN countries, including Bacconi, Jonkoping, Sweden, Copenhagen Business School, Denmark, University of Queensland, Austria, and Victoria University of Wellington, New Zealand.

5. Department of Management Studies, IIT Delhi

• IIT Delhi’s Department of Management Studies has provided comprehensive education to aspiring management applicants.
• The Management Department was launched in 1997, and the Department of Management Studies began offering full-time MBA programs.

6. IIM Indore – Indian Institute of Management

• IIM Indore was founded in 1996
• The 193-acre campus of IIM Indore is well-equipped with the most up-to-date teaching aids, extensive learning resources, and a robust IT infrastructure.
•  IIM Indore is one of the most beautiful educational institute campuses in India.

7. IIM Lucknow – Indian Institute of Management

•  IIML is located in Lucknow, Uttar Pradesh
•  Ranked fourth among Indian Institute of Management in the country, established in 1984.
•  AMBA and AACSB have both accredited the programs in IIM Lucknow.
•  Medical center on campus with qualified medical staff on hand 24 x7.
•  Student exchange programs from countries such as Europe, the United States, Canada, Singapore, and China

8. XLRI Xavier School of Management

• It is ranked as the best private business school in the world.
• Founded by Jesuit Fathers, in 1968.
• XLRI infrastructure is phenomenal, the Sir Jehangir Ghandy Library contains 69,500 books, 24,400 eBooks, 16,810 back volumes, 14,200 PG and Ph.D. dissertations, and other materials. 
• High-speed Wi-Fi connectivity services such as printing, photocopying, and scanning are provided

9. Indian School of Business (ISB Hyderabad)

• Established in 2001, the Indian School of Business, Hyderabad is a premier Institute located in Telangana
•  Institute gives you the opportunity to gain expertise through its trained and experienced faculty in the fields of Family Business, Business Analytics, health care & Hospital, Infrastructure, Operations, and Public Policy.
• It offers good infrastructure like A/C Classrooms Auditorium, Boy’s Hostel, Cafeteria, Convenience Store, Girl’s Hostel, Gym, Hospital / Medical Facilities, Hostel, Labs, Library, Shuttle Service, and Sports Complex to students.

10. Management Development Institute (MDI Gurgaon)

• Management Development Institute, known as MDI Gurgaon is one of the leading private B-schools founded in 1973.
• One of the top-ranked and AACSB Accredited business schools in India.

Top MBA Colleges in India with Best Placements Packages

Here is a list of top MBA colleges with best placements packages –

Top Private MBA Colleges in India – Fees, Entrance Exams & Eligibility

Private MBA colleges in India are one of the best and prestigious institutes. Here is a list for top 10 Private Indian Institutes for MBA –

Top MBA Colleges in India: City-Wise

India has many prestigious colleges for MBA, location plays a very crucial role as it will make college life much better. Here is a list for the best cities to pursue MTech in India are –

Top 5 MBA Colleges in India Based on Specializations

The most demanding MBA specializations in 2023 are as follows :

• MBA in Finance
• MBA in Human Resource Management
• MBA in Information Technology (IT)
• MBA in Marketing Management
• MBA in Business Management
• MBA in Logistics Management
• MBA in Healthcare Management
• MBA in Operation Management

Top MBA Colleges in Finance

1. Indian Institute of Management Ahmedabad (IIM Ahmedabad)
2. Indian Institute of Management Bangalore (IIM Bangalore)
3. Indian Institute of Management Calcutta (IIM Calcutta)
4. XLRI Jamshedpur
5. Indian School of Business (ISB) Hyderabad

Top MBA Colleges in Human Resources Management

1. Indian Institute of Management Bangalore (IIM Bangalore)
2. Indian Institute of Management Calcutta (IIM Calcutta)
3. XLRI Jamshedpur
4. Narsee Monjee Institute of Management Studies (NMIMS) Mumbai
5. Faculty of Management Studies (FMS), Delhi University

Top MBA Colleges in Sales and Marketing Management

1. Indian Institute of Management Ahmedabad (IIM Ahmedabad)
2. Indian Institute of Management Bangalore (IIM Bangalore)
3. Indian Institute of Management Calcutta (IIM Calcutta)
4. S. P. Jain Institute of Management and Research (SPJIMR) Mumbai

Top MBA Colleges in Information Technology (IT)

1. Indian Institute of Management Bangalore (IIM Bangalore)
2. Indian School of Business (ISB) Hyderabad
3. Indian Institute of Management Calcutta (IIM Calcutta)
4. XLRI Jamshedpur
5. SP Jain Institute of Management and Research (SPJIMR) Mumbai

Top MBA Colleges in Business Management

1. Indian Institute of Management Ahmedabad (IIM Ahmedabad)
2. Indian Institute of Management Bangalore (IIM Bangalore)
3. Indian Institute of Management Calcutta (IIM Calcutta)
4. XLRI Jamshedpur
5. Indian School of Business (ISB) Hyderabad

Top MBA Colleges in Business Management

1. Indian Institute of Management Ahmedabad (IIM Ahmedabad)
2. Indian Institute of Management Bangalore (IIM Bangalore)
3. Indian Institute of Management Calcutta (IIM Calcutta)
4. XLRI Jamshedpur
5. Indian School of Business (ISB) Hyderabad

Top MBA Colleges in Logistics Management

1. Indian Institute of Management Lucknow (IIM Lucknow)
2. Indian School of Business (ISB) Hyderabad
3. National Institute of Industrial Engineering (NITIE), Mumbai
4. XLRI Jamshedpur
5. Symbiosis Institute of Business Management (SIBM), Pune

Top MBA Colleges in Healthcare Management

1. Indian Institute of Management Calcutta (IIM Calcutta)
2. Indian School of Business (ISB) Hyderabad
3. Tata Institute of Social Sciences (TISS), Mumbai
4. National Institute of Pharmaceutical Education and Research (NIPER), Hyderabad
5. XLRI Jamshedpur

Top MBA Colleges in Operation Management

1. Indian Institute of Management Calcutta (IIM Calcutta)
2. Indian School of Business (ISB) Hyderabad
3. National Institute of Industrial Engineering (NITIE), Mumbai
4. XLRI Jamshedpur
5. SP Jain Institute of Management and Research (SPJIMR) Mumbai

Factors to Consider While Choosing MBA College in 2023

Choosing the right MBA college is very important as it will be very impactful for your future and career, the factors that one must keep in mind are listed below :

• Accreditation and Reputation: A accredited college is recognized by the government and accreditation means, it has all the parameters to come under the category of good colleges.
• Institute rankings: The ranking organization conducts a thorough and fair examination of institutions and ranks them based on the quality and parameters satisfied. Students will be able to identify the finest management university by looking through these university rankings. Annually, ranking organizations such as NIRF, QS, and the Financial Times update their rankings. 
• Course curriculum: Review the MBA curriculum and the course subjects which are to be taken by the student. Every university has its own website, where the course curriculum is published. You can get an idea of what is being taught by looking at the curriculum. 
• Know more about the location: Students should learn more about the area before pursuing a degree in college, the geographical features of the area, and the accessibility to essential utilities and transportation within a reasonable distance.
• Extra Curricular Activities:  Research well about the co-curricular activities happening in the college, students may refer their seniors and network more to get more engaged in these activities as they are going to be a very happy part of their college life.

Why to Choose MBA as a Career?

Every student after completing their studies desires to get a good and secure job in a reputed company. The recruiters look for employees who are skilled enough in all aspects of company affairs and the most important skill among them is managerial skills.

Here are some of the reasons to choose MBA as your career:

• Attractive Salaries
• Distinct Career Avenues
• Develop Management Skills
• Expansion of Network
• Increased Self-Confidence
• Time Management
• Ability to Work Under Challenging Situations

To get a detailed analysis of why to choose MBA, refer to the article Why MBA as a career?

Top MBA Colleges in India – FAQs

1. What are the factors that are considered when ranking MBA colleges in India?

The factors that are considered when ranking MBA colleges in India include:

• Reputation:The reputation of the college is important, as it will give you a good idea of the quality of education and the placement opportunities that you will have.
• Curriculum:The curriculum should be relevant to the latest trends in business and should provide you with the skills that you need to succeed in the industry.
• Faculty:The faculty should be experienced and well-qualified in the field of business. They should also be able to provide you with valuable insights and guidance.
• Placements: The college should have a strong placement record, with graduates landing jobs at top companies in India and abroad.
• Fees:The fees of the college should be affordable for you.
• Location: The location of the college should be convenient for you.

2. What are the top 10 MBA colleges in India?

The top 10 MBA colleges in India, according to the NIRF 2023 rankings, are:

• Indian Institute of Management Ahmedabad (IIM Ahmedabad)
• Indian Institute of Management Bangalore (IIM Bangalore)
• Indian Institute of Management Calcutta (IIM Calcutta)
• Indian Institute of Management Lucknow (IIM Lucknow)
• Indian School of Business (ISB) Hyderabad
• XLRI Jamshedpur
• Faculty of Management Studies (FMS), Delhi University
• Narsee Monjee Institute of Management Studies (NMIMS) Mumbai
• Indian Institute of Management Indore (IIM Indore)
• MDI Gurgaon

3. What are the benefits of getting an MBA from a top 50 MBA college in India?

There are many benefits to getting an MBA from a top 50 MBA college in India, including:

• Better job opportunities: Graduates from top ranked MBA colleges in India have better job opportunities at top companies in India and abroad.
• Higher salaries: Graduates from top MBA colleges in India command higher salaries than graduates from other colleges.
• Better career growth: Graduates from top ranked MBA colleges in India have better career growth opportunities.
• Networking opportunities: Top MBA colleges in India provide excellent networking opportunities with industry leaders and professionals.
• Personal development: An MBA from a top college can help you develop your personal and professional skills.

4. How can I get into a top 50 MBA college in India?

There are a few things you can do to increase your chances of getting into a top 50 MBA college in India, including:

• Get good grades
• Score well on the GMAT or CAT
• Have work experience:
• Get good letters of recommendation

5. Which college is No 1 in India for MBA?

The Indian Institute of Management Ahmedabad (IIM Ahmedabad) is ranked No. 1 in India for MBA. It is one of the premier management institutes in India and has a strong reputation for academic excellence. IIM Ahmedabad offers a full-time MBA program, an Executive MBA program, and a Doctoral program in Management.

6. Which college has the best MBA ranking?

According to the NIRF 2023 rankings, the top 5 MBA colleges in India are:

• Indian Institute of Management Ahmedabad (IIM Ahmedabad)
• Indian Institute of Management Bangalore (IIM Bangalore)
• Indian Institute of Management Calcutta (IIM Calcutta)
• Indian Institute of Management Lucknow (IIM Lucknow)
• Indian School of Business (ISB) Hyderabad

7. Which is the best MBA college with highest package in India?

The best MBA college with highest package in India is the Indian School of Business (ISB) Hyderabad. In 2022, the average salary for ISB graduates was INR 23.7 lakhs. However, it is important to note that the salary package offered by an MBA college will depend on a number of factors, including the student’s academic performance, work experience, and the industry they are interested in.