Top MBA Colleges in India

MBA Colleges, Cluster-1 Colleges, Cluster-2 Colleges, Cluster-3 Colleges, Cluster-4 Colleges

Updated on 26th June 2024 | 4:00 pm | #TopMBAColleges

Selecting the right MBA college from the top B-schools is a decision with a lasting impact on your life. Focusing on a strong placement record, quality education, and networking opportunities is very important to make an informed choice. 

To simplify this process, we have categorized the top MBA colleges in India into six clusters, highlighting all the prestigious institutions across India. As you move down the list, the distinctions between colleges and clusters become less apparent. For instance, in Cluster 1, IIM A ranks at the top due to its brand value, with IIM C closely following due to its lower fees.

Before committing to admission at any of these MBA colleges, it is recommended to reach out to current students and alumni and explore the official websites for a deeper understanding. This approach provides valuable firsthand experiences and detailed information to help you make an informed decision about the MBA program and future career prospects.

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Ranking Methodology of MBA institutes

The parameters basis which MBA Colleges are evaluated and listed below:

  • Placement records of the last three years
  • Infrastructure & Faculty
  • Return on Investment
  • Geographical location: proximity of B-schools to business hubs
  • Entrance exams applicable
  • Interaction with alumni
  • Interaction with Career Launcher students now studying at these B-schools
  • Career Launcher also visits these campuses as a recruiter, and the input from our HR team helps us evaluate these institutes better.

Top MBA Colleges in India

India is home to numerous high-quality MBA colleges, each with its own unique strengths. When considering an MBA college, it is essential to consider parameters such as reputation, alumni network, faculty, and corporate connections. These top MBA colleges in India have been grouped into six clusters based on these criteria, offering valuable insights to aid in your dream B-school selection. While this list serves as a helpful guide, it's advisable to supplement your research with interactions with alumni, exploration of official college websites, and campus visits before finalizing your admission decision.

This curated list, based on predictions by CL experts, acts as a guide for selecting a top-tier MBA college. However, we advise you to talk to some of the alumni members, go through the official website of the college, and visit the campus if you can before taking admission to any of the below-mentioned institutes to make an informed decision about your MBA destination.


Top MBA Colleges: CLUSTER – 1

Undoubtedly like every year; IIM Ahmedabad, Bangalore, and Calcutta consistently hold the top three positions in the list of preferred MBA colleges, based on their outstanding placement records, brand reputation, and numerous opportunities. Institutions like FMS Delhi, IIM Lucknow, and XLRI also offer excellent options, and the choice among them can be based on individual requirements.

For candidates with over 3 years of work experience, ISB Hyderabad is a compelling option, offering a one-year course and accepting GMAT scores for admission. On the other hand, FMS DU, TISS, and JBIMS are noteworthy for being "value for money" institutes due to their low fees and exceptional placements. However, JBIMS is slightly disadvantaged due to the 85% reservation for Maharashtra. TISS, while lower on the list, is specialized, which can be a consideration. General management programs are generally preferred for their flexibility in choosing specialization after the first year, but specialized programs like TISS, especially in HR, could be preferred based on specific interests. For instance, those interested in HR specialization would prioritize XLRI and TISS.

No. Sub-Cluster Institute City Program Average Package (LPA)

1

1A

Indian Institute of Management (IIM-A)

Ahmedabad

MBA

36.14

2

1A

Indian Institute of Management (IIM-B)

Bangalore

MBA

35.92

3

1A

Indian Institute of Management (IIM-C)

Kolkata

MBA

35.07

4

1A

Indian Institute of Management (IIM-B)

Bangalore

PGP-BA

35.92

5

1A

Indian Institute of Management (IIM-L)

Lucknow

MBA

32.2

6

1A

FMS -Delhi University

New Delhi

MBA

34.1

7

1A

Xavier Labour Research Institute (XLRI)

Jamshedpur

PGDM - HRM

32.7

8

1A

Xavier Labour Research Institute (XLRI)

Jamshedpur

PGDM -BM

32.7

9

1A

Indian Institute of Management (IIM-L)

Lucknow

MBA - ABM

32.2

10

1B

Indian School of Business (ISB)

Hyderabad

PGP

33.25

11

1B

Tata Institute of Social Sciences (TISS) 

Mumbai

MA -HRM LR

19.62

12

1B

Indian Institute of Management (IIM-K)

Kozhikode

MBA

31.02

13

1B

Xavier Labour Research Institute (XLRI)

NCR

PGDM - BM

32.7

14

1B

Indian Institute of Management (IIM-I)

Indore

MBA

30.21

15

1B

SP Jain Institute of Management & Research (SPJIMR)

Mumbai

PGDM

33.02

16

1C

Jamnalal Bajaj Institute of Management Studies (JBIMS)

Mumbai

MMS

28.02

17

1C

Indian Institute of Management (IIM-K)

Kozhikode

MBA - Finance

26.11

18

1C

Indian Institute of Management (IIM-K)

Kozhikode

MBA - LSM

25.96

19

1C

Indian Institute of Foreign Trade (IIFT)

New Delhi

MBA

29.1

20

1C

Management Development Institute (MDI)

Gurgaon

PGPM

27.67


Top MBA Colleges: CLUSTER – 2

In this cluster, certain non-IIM institutions have emerged as standout MBA colleges, surpassing many IIM colleges in terms of growth, educational quality, and placements. For instance, IIFT Kolkata is placed in cluster 2A ahead of several older and more established institutes due to its shared placement process with IIFT Delhi, ensuring parity between the two campuses.

Similarly, IIML Agribusiness Management is favored over IIMA Food and Agribusiness Management because IIML offers equal placement opportunities for both ABM and PGP programs, whereas IIMA has separate placement procedures for PGP and FABM. Additionally, prestigious technical institutes like IIT Bombay, IIT Delhi, and IIM Mumbai hold positions in this cluster, renowned for MBA offerings in Operations, Systems, and Analytics.

The IB programs of MDI Gurgaon are positioned in this cluster instead of Cluster 1 due to cost-related considerations. Furthermore, various new IIMs including IIM Ranchi, IIM Udaipur, and others, along with several non-IIM colleges, are also part of this cluster 2, indicating a diverse mix of institutions offering competitive MBA programs.

No. Sub-Cluster Institute City Program Average Package (LPA)

1

2A

Indian Institute of Technology Bombay- SJMSOM

Mumbai

MBA

28.88

2

2A

Indian Institute of Foreign Trade (IIFT)

Kolkata

MBA

29.1

3

2A

Indian Institute of Management (IIM-S)

Shillong

MBA

26.96

4

2A

IIM Mumbai (Former NITIE)

Mumbai

PGDIM

25.4

5

2A

Indian Institute of Management (IIM-A)

Ahmedabad

MBA - FABM

20.04

6

2B

Indian Institute of Technology Delhi- DMS

New Delhi

MBA

25.82

7

2B

Management Development Institute (MDI)

Gurgaon

PGPM-HRM

26.42

8

2B

Management Development Institute (MDI)

Gurgaon

PGPM -IB

27.67

9

2B

Management Development Institute (MDI)

Gurgaon

PGP-BA

-

10

2B

Symbiosis Institute of Business Management (SIBM)

Pune

MBA

26.77

11

2B

Symbiosis Centre for Management and HRD (SCMHRD)

Pune

MBA

23.71

12

2B

Narsee Monjee Institute of Management Studies (NMIMS)

Mumbai

MBA - Core

26.63

13

2B

Jamnalal Bajaj Institute of Management Studies (JBIMS)

Mumbai

MSc Finance

21

14

2B

Mudra Institute of Communications Ahmedabad (MICA)

Ahmedabad

PGDM-C

20.09

15

2B

BITSOM Mumbai

Mumbai

MBA

23.85

16

2C

Indian Institute of Management (IIM-Trichy)

Trichy

MBA

20.55

17

2C

Indian Institute of Management (IIM-U)

Udaipur

MBA

20.09

18

2C

Indian Institute of Management (IIM Raipur)

Raipur

MBA

21.04


Top MBA Colleges: CLUSTER – 3

This cluster features B-schools like MICA and IRMA, known for their specialized programs, excelling in their respective niches. For instance, MICA is highly renowned for its Marketing and Advertising program, making it one of the top MBA colleges in the country in this field. Established institutes like XIMB and IMT Ghaziabad also stand out in this cluster by offering exceptional placement opportunities. Candidates with over 2 years of work experience might consider the one-year PGPM program at Great Lakes Chennai, even though it lacks AICTE recognition, due to its strong placements supported by industry acknowledgment. Additionally, in this cluster, the IITs are preferred by many for their affordability and good placements, particularly for those interested in specializing in operations, systems, or analytics.

No. Sub-Cluster Institute City Program Average Package (LPA)

1

3a

Indian Institute of Science (IISc)

Bengaluru

M.Mmgt

28

2

3A

Xavier Institute of Management (XIMB)

Bhubaneshwar

MBA -BM

20.03

3

3A

Xavier Labour Research Institute (XLRI)

Jamshedpur

Global MBA

28.02

4

3A

Indian Institute of Technology Kharagpur -VGSOM

Kharagpur

MBA

22.13

5

3A

Indian Institute of Technology Madras – DMS

Chennai

MBA

20.19

6

3A

Indian Institute of Management (IIM Kashipur)

Kashipur

MBA

18.1

7

3A

Indian Institute of Management (IIM Ranchi)

Ranchi

MBA

16.17

8

3B

Indian Institute of Management (IIM Rohtak)

Rohtak

MBA

18.7

9

3B

Indian Institute of Management (IIM Ranchi)

Ranchi

MBA-HRM

15.63

10

3B

Indian Institute of Management (IIM-L)

Lucknow 

PGP-SM

30

11

3B

IIM Mumbai (Former NITIE)

Mumbai

MBA (SM)

25.4

12

3B

Institute of Management Technology (IMT)

Ghaziabad

PGDM

17.35

13

3B

Institute of Management Technology (IMT)

Ghaziabad

Mktg, Fin

17.35

14

3B

Institute of Rural Management (IRMA)

Anand

PGPRM

15

15

3C

Great Lakes Institute of Management (GLIM)

Chennai

PGPM - 1 year

18.1

16

3C

International Management Institute (IMI)

New Delhi

PGDM

17.01

17

3C

Narsee Monjee Institute of Management Studies (NMIMS)

Mumbai

MBA HR

19.6

18

3C

Indian Institute of Technology Roorkee – DoMS

Roorkee

MBA

18.3

19

3C

Indian Institute of Technology Kanpur – DoMS

Kanpur

MBA

18.1


Top MBA Colleges: CLUSTER – 4

This cluster is characterized by the presence of established regional institutes such as TAPMI, GIM, KJ Somaiya, IIM Trichy, etc., known for their strong reputation locally. Additionally, it encompasses the latest IIMs like Vizag, Nagpur, and others, showcasing a blend of traditional and emerging institutions in the MBA landscape.

Moreover, this cluster hosts specialized programs offered by top MBA institutes, including NITIE's PGDISEM, JBIMS's MSc Finance, and HR programs at NMIMS and XIMB. It also features the value-for-money MBA programs of Delhi University such as MFC, MHROD, MBE, ensuring a diverse range of options catering to various preferences and needs.

No. Sub- Cluster Institute City Program Avg. Package (LPA)

1

4A

BITS Pilani, Department of Management

Pilani

MBA-BA

17.45

2

4A

T A Pai Management Institute (TAPMI)

Manipal

PGDM

14.6

3

4A

Indian Institute of Management (IIM-N)

Nagpur

PGP

16.74

4

4A

Indian Institute of Management (IIM-Sambalpur)

Sambalpur

PGP

16.64

5

4A

Indian Institute of Management (IIM-V)

Visakhapatnam

PGP

16.61

6

4A

Indian Institute of Management (IIM-Amritsar)

Amritsar

PGP

16.51

7

4A

Indian Institute of Management (IIM-J)

Jammu

PGP

16.5

8

4A

Department of Business Economics, Delhi University

Delhi

MBA (BE)

15.92

9

4B

Master of HR and Organisational Development, DSE, Delhi Univ.

Delhi

MBA (HRD)

14

10

4B

Sydenham Institute of Management Studies (SIMSREE)

Mumbai

MMS/PGDBM

13-14

11

4B

Xavier Institute of Management (XIMB)

Bhubaneswar

MBA - Rural Mgmt

12.5

12

4B

International Management Institute (IMI)

New Delhi

PGDM BFS

16.48

13

4B

International Management Institute (IMI)

New Delhi

PGDHRM

15.58

14

4B

Indian Institute of Management (IIM-Bodh Gaya)

Bodh Gaya

PGP

14.96

15

4C

Indian Institute of Management (IIM S)

Sirmaur

PGP

14.45

16

4C

FORE School of Management

New Delhi

PGDM IB

15.1

17

4C

Goa Institute of Management (GIM)

Goa

PGDM

14.87

18

4C

Symbiosis Institute of International Business (SIIB)

Pune

MBA IB

13.12

19

4C

Symbiosis Institute of Operations Management (SIOM)

Nasik

MBA Ops

14.35

20

4C

K J Somaiya Institute of Management Studies & Research (SIMSR)

Mumbai

MBA/MBA-HCM

12.32


Top MBA Colleges: CLUSTER – 5 & 6

If you haven't secured admission to any college up to Cluster 4 and retaking CAT/XAT is not feasible or won't yield significant score improvements, then the focus shifts to institutes in Cluster 5 and 6. These colleges offer quality education and decent career prospects, albeit with roles, profiles, and salary levels lower than those in higher cluster institutes. Location plays a crucial role at this level, as institutes in metro cities typically boast better industry connections and placement opportunities.

Additionally, in these clusters, most placements are geographically concentrated, meaning if you study in a specific region like NCR, your job prospects are likely limited to that area. Given the moderate salary expectations, it's advisable to manage the overall MBA expenses (fees + accommodation) effectively. Balancing the total expenses becomes crucial, especially considering that servicing a 20-lakh loan with an 8-lakh salary can be challenging.

No. Sub-Cluster Institute City Program Avg. Package (LPA)

1

5A

National Institute of Bank Management

Pune

PGDM B & FS

15.22

2

5A

Shri Ram College of Commerce (SRCC GBO), Delhi Univ.

Delhi

GBO

13.48

3

5A

Great Lakes Institute of Management (GLIM)

Chennai

PGDM

14.5

4

5A

Symbiosis Institute of Business Management (SIBM)

Bengaluru

MBA

13.48

5

5A

Narsee Monjee Institute of Management Studies (NMIMS)

Bengaluru

PGDM

14

6

5A

SDA Bocconi Asia Center

Mumbai

International Masters in Business

14.3

7

5B

Great Lakes Institute of Management (GLIM)

Gurgaon

PGPM 1 year

11.6

8

5B

IFMR GSB, Krea University

Sri City, Andhra Pradesh

MBA

13.5

9

5B

University Business School (UBS)

Chandigarh

MBA

13.67

10

5B

Narsee Monjee Institute of Management Studies (NMIMS)

Navi Mumbai

MBA

13.35

11

5B

Narsee Monjee Institute of Management Studies (NMIMS)

Hyderabad

PGDM

13.01

12

5B

Narsee Monjee Institute of Management Studies (NMIMS)

Indore

MBA

12.5

13

5B

Welingkar Institute of Management

Mumbai

MMS, PGDM

12.01

14

5B

Nirma University – Institute of Management (IMNU)

Ahmedabad

MBA

13

15

5B

Symbiosis Institute of Management Studies (SIMS)

Pune

MBA

16

5B

Symbiosis Institute of Digital & Telecom Management (SIDTM)

Pune

MBA

12.78

17

5B

Management Development Institute (MDI)

Murshidabad

PGP

12.67

18

5B

Lal Bahadur Shastri Institute of Management (LBS)

New Delhi

PGDM, Finance

12.42

19

5B

Bharathidasan Institute of Management (BIM)

Tiruchirapally

MBA

12.4

20

5C

Loyola Institute of Business Administration (LIBA)

Chennai

PGDM

11.5

21

5C

Birla Institute of Management Technology (BIM Tech)

Greater Noida

PGDM, IB

11.24

22

5C

Delhi School of Management - Delhi Technological University (DTU)

New Delhi

MBA

10.3

23

5C

International Management Institute (IMI)

Kolkata

PGDM

10.65

24

5C

Symbiosis Institute of Mass Communication (SIMC)

Pune

MBA CM

8.2

25

5C

Symbiosis Institute of International Business (SIIB)

Pune

MBA E&E

11.54

26

5C

Symbiosis Center for Information Technology

Pune

MBA-ITBM

11.18

27

5C

Symbiosis Institute of Banking and Finance (SSBF)

Pune

MBA BF, PGDBF

11

28

5C

Symbiosis Institute of International Business (SIIB)

Pune

MBA AB

10.66

29

5C

ICFAI Business School

Hyderabad

MBA/PGPM

10.42

30

5C

ISM Dhanbad

Dhanbad

MBA

11.6

No. Sub-Cluster Institute City Program Avg. Package (LPA)

1

6A

Institute of Management Technology (IMT)

Ghaziabad

DCP

-

2

6A

Jagan Institute of Management Studies

New Delhi

PGDM

-

3

6A

Institute of Management Technology (IMT)

Hyderabad

PGDM

12

4

6A

Great Lakes Institute of Management (GLIM)

Gurgaon

PGDM

11.6

5

6A

Institute of Management and Technology IMT - Nagpur

Nagpur

PGDM

10.81

6

6A

Xavier Institute of Management & Entrepreneurship (XIME)

Bengaluru

PGDM

10.75

7

6A

SOIL Institute of Management

Gurgaon

PGDM

10.3

8

6A

SDM Institute for Management Development (SDMIMD)

Mysore

PGDM

9.8

9

6A

Faculty of Management Studies, BHU (FMS BHU)

Varanasi

MBA MBA IB

9.7

10

6A

Flame University

Pune

MBA

9.15

11

6A

Symbiosis Institute of Computer Studies and Research (SICSR)

Pune

MBA IT

6.55

12

6A

International School of Business & Media

Pune

PGDM

13

6B

Xavier Institute of Social Service (XISS)

Ranchi

PGDM HRM

9.4

14

6B

Symbiosis Institute of Business Management- Hyderabad

Hyderabad

MBA

9.2

15

6B

Indian Institute of Forest Management (IIFM)

Bhopal

PGDFM

8.5

16

6B

TAPMI School of Business, Manipal University

Jaipur

MBA

7.6

17

6C

BML Munjal University

Gurgaon

MBA

9.4

18

6C

Xavier Institute of Social Service (XISS)

Ranchi

PGDM Marketing & PGDM Finance

9.4

19

6C

Kirloskar Institute of Advanced Management Studies

Harihar and Pune

PGDM

8.5

20

6C

Xavier Institute of Management & Entrepreneurship (XIME)

Kochi

PGDM

8.07

21

6C

Symbiosis Institute of Health Services (SIHS)

Pune

MBA

6.98

FAQS

No, the reputation of a UG college does not make any difference during the interview rounds in top B-schools such as IIMs and FMS. The graduation marks are the only criterion based on which the candidate's performance is measured.

Extracurricular activities play a role in making a stronger profile for selection to top B-schools as it gives you an edge over peers with similar profiles.

For an MBA aspirant, it is essential to identify the best business institutes and the eligibility criteria to get admission to any one of them. So here are some of the top B-schools in India:

  • Indian Institute of Management, Ahmedabad
  • Indian Institute of Management, Bangalore
  • Indian Institute of Management, Calcutta
  • Indian Institute of Management, Lucknow
  • Faculty of Management Studies, New Delhi
  • Indian School of Business, Hyderabad
  • Xavier Labour Research Institute, Jamshedpur
  • Tata Institute of Social Sciences, Mumbai
  • All the top B-schools require candidates to clear one of the entrance exams such as CAT, XAT, SNAP, NMAT, etc. So candidates can identify their institutes of choice and prepare for the entrance exams accordingly.

Based on placements, the top B-schools include

  • FMS Delhi
  • ISB Hyderabad
  • IIM Ahmedabad
  • IIM Bangalore
  • IIM Calcutta

Every year, over 2 lakh students appear for CAT. On the other hand, the overall number of seats in all the IIMs is approximately 5500 as of 2022. So even though many candidates crack CAT and get admission to some of the top B-schools in India, out of the 2 lakh students applying for CAT, only a few thousand get admission into one of the IIMs.

Suggested Readings

CAT 2024 How to prepare for CAT? CAT Preparation Top MBA Careers MBA Specializations CAT Online Classes CAT Prep for Non-Engineers