Business schools play an important role in India’s education sector. India has thousands of B-schools all around the country. However, there are some schools that are rated very high among those business schools.
When it comes to choosing the right business school, a lot of factors are to be considered. You should consider those schools that offer an excellent track record, high-quality education, and many more like that under the very same roof.
It is hard to create a list of top 10 business schools when there are hundreds of business schools in India. However, there are around thirty business schools, which are almost in the same category.
The difference between those schools is very less. Still considering those small factors, a list can be made containing the top 10 business schools around the country which are better than the rest of the others in any aspect.
It is true that IIM A, B, and C are the best three business schools in the country in all aspects over the years. Where IIM A holds the no. 1 and followed by IIM B and IIM C. However, their positions are not fixed.
The parameters based on which you can create a list of the best business schools in the country are as follows.
- The infrastructure of the business school.
- The environment of the business school.
- Location at which the business school is situated.
- List of the faculty members.
- Placement records in the past few years.
- Connection with the Alumni.
- Required entrance exam.
Here are the Top 10 Management Colleges In India (MBA Colleges):
IIM Ahmedabad- Indian Institute of Management
IIM A was established in 1961 in Ahmedabad and it is the first business school of India. It is a government autonomous institute. IIM A is known as one of the best if not the best MBA college in India.
To get into this college someone must have a very good academic background along with a very high CAT percentile. Anyone who wants to seek admission into the college must appear in the CAT exam for the MBA course and GMAT exam for the Executive MBA course.
The best courses offered by this institute are 2 years MBA or 2 years Executive MBA and 1 year PGDM or 1 year Executive PGDM. Average fees of 2 years full-time MBA course in this institute is around 23 lakh rupees whereas for 2 years full-time executive MBA course the fees will be around 28 lakh rupees.
For the last 2018-2020 batch, this institute has a record of 100 percent placements. Mckinsey, BCG, and TCS are the big recruiters. Need-based scholarships are available here.
Address: Sargam Marg, Vastrapur, Ahmedabad
Phone: 079 6632 3456
IIM Bangalore- Indian Institute of Management
IIM B was established in 1973. It is one of the top-rated institutes in the country, which holds its place between the top 3. It is also a government college. Strong educational background with an extremely good CAT score can get you in college.
Just like IIM A, it also offers full-time and Executive MBA and PGDM courses. The two years of full-time MBA course costs around 18.7 lakh rupees. Whereas 1-year full-time Executive course costs around 21.7 lakh rupees.
To get admission in the MBA courses, someone has to appear in the CAT exam. In the case of the Executive course, someone needs to appear in the GMAT or GRE exam.
IIM B has a record of 100 percent placements for their last batch with an average CTC of Rs. 24.54 lakh. Deloitte and Accenture are the top recruiters here for the last year. Scholarships are available here. But, those are only need-based scholarships.
Address: Bannerghatta Main Rd, opp. to Apollo Hospitals, Sundar Ram Shetty Nagar, Bilekahalli, Bengaluru
IIM Calcutta Indian Institute of Management
Indian Institute of Management Calcutta is located at Joka, Kolkata. It was established in 1961. IIM C is always ranked in the top 3 business schools in India. It is a public business school.
Students with a strong academic background have a chance to get into this highly rated business school. There are some very reputed courses offered by this college Postgraduate program in Management is one of them.
It is a 2 years long program and the total fee required is around Rs. 20 lakh. The other two popular programs are Postgraduate Diploma in Business Analytics(2 years) and the Executive Postgraduate Program in Management(1 year).
The fees required for those two courses are Rs. 20 lakh and Rs. 22 lakh respectively. The candidates need to appear in the CAT exam to have a shot in this institute. Merit-based scholarships are available which are funded by Mr. Ratan Tata, Aditya Birla group, T. Thomas, etc.
Those are for the students who need the most. From the statistics of this year, students got placed from this institute with an average package of Rs. 25.4 LPA and the highest package is Rs. 72 LPA.
Address: Diamond Harbour Rd, Joka, Kolkata
XLRI Xavier School of Management
Xavier School of Management is one of the best schools in the country. It is a private business school which is situated in Jamshedpur, Jharkhand. It was established back in 1949.
The B-school is approved by AICTE. It is also accredited by NBA, AMBA, and AACSB. Courses like 2 years full-time PGDM(BM), 15 months PGDM(BM), 2 years full-time PGDM(Global BM), 2 years full-time PGDM(HRM) are popular in this institute.
Apart from that, Fellow programs are also available here. To get into this school, you need to appear in XAT(Xavier Aptitude Test) and GMAT. It is very well-known due to its placement opportunities.
According to the data from this year’s placements, students got an average package of Rs. 23.5 LPA and the highest package of Rs. 50 LPA. Some of the popular firms like McKinsey & Co., Deloitte, The Boston Consulting Group, AON, KPMG, Vector Group, Accenture, PWC, Infosys, Everest Group, and many more are the major recruiters here.
The institute mainly offers some merit-based scholarships to the students who scored extremely good marks in 10th and 12th standard. They also offered scholarships for the students belonging to SC, ST, OBC categories.
Address: Rivers Meet Road, Circuit House Area, East, Jamshedpur
IIM Lucknow- Indian Institute of Management
IIM Lucknow is a government autonomous business school situated in Lucknow, Uttar Pradesh. It was established back in 1984 as the 4th IIM in India. It is recognized by some reputed organizations like the Association of MBAs and AACSB. This institute is recognized as an “Institution of Excellence” by the Government of India.
Candidates seeking to apply for IIM L need to take the CAT(Common Admission Test) exam. Candidates with a very good academic background have a chance to get into the institute.
Applicants who are interested in the IPMX program need to take the GMAT exam. The average fees of this institute are around Rs. 12 lakhs. In the academic session of the year 2019, this institute achieved a record of 100% placement within three days.
Companies from the fields of finance, IT, sales, business development, marketing, and more took part in this recruitment process. The top recruiters in this country or from around the world such as Accenture, Flipkart, Deloitte, Amazon, the Boston Consulting Group, and more were in this recruitment process.
IIM Lucknow provides different types of financial aid and grants to the students. Those are mainly need-based scholarships given to the students with an excellent educational background and with a low family income. Students from SC/ST categories are also eligible for different types of grants.
Address: IIM Rd, Prabandh Nagar, Mubarakpur, Lucknow
IIM Indore- Indian Institute of Management
Indian Institute of Management Indore is a government autonomous business school established in 1996. This highly rated business school is located in Indore, Madhya Pradesh. IIM Indore is the sixth business school of the IIM family.
IIM Indore offers a postgraduate degree in management( equivalent to MBA), a fellow program in management and five years of integrated program management which is called an executive course. However, postgraduate diploma courses are also available here for the executives.
The admission fee for the 2 years full-time PG courses in management is around Rs. 16 lakh for the Indian. Whereas the same will cost Rs. 24 lakhs for non-resident Indians. Students who want to get into this elite institute need to take the CAT exam.
Although the chances to make it through will depend on the educational background. IIM Indore has a record in terms of placements. Companies from different fields such as consulting, finance, sales and marketing, IT, HR, General Management came here for the placement purpose.
Companies such as ONGC, HDFC, JP Morgan, Infosys, Tata Steel, Parle, PepsiCo, Axis Bank, HT Media, State Bank of India, Tata Motors, Ericson, Wipro, and Titan are the recruiters over the years.
The average package offered last year in this institute was around Rs. 20.8 LPA. In the last academic year(2017-2019), the highest package offered in this institute was Rs. 85.29 LPA. IIM Indore offers need-based financial assistance and grants to its students.
Address: Prabandh Shikhar, Rau – Pithampur Rd, Indore
Phone: 0731 243 9666
IIM Kozhikode
Indian Institute of Management Kozhikode is a government autonomous business school. It was established in 1996 in Calicut, Kerala. This institute is one of the top-rated business schools in India.
Indian Institute of Management Kozhikode is the 5th and fast-developing IIM in this family. This school provides different types of postgraduate programs along with the two-year-long Executive Management program.
Candidates seeking for admission need to appear in CAT. IIMK produced an impressive record of placements over the years. BlackRock, Microsoft, Amazon, Accenture, Hindustan Unilever Limited, Deloitte are the top companies used to go there for recruitment.
Over the past few years, the average package offered to the students was Rs. 18.8 LPA and the highest package was around Rs. 40.5 LPA. Need-based and performance-based scholarships are awarded to the students here. Sir Ratan Tata Trust, Aditya Birla Group and OPJEMS offer financial aids to the students.
Address: IIMK Campus P. O, IIM Rd, Kunnamangalam
MDI Gurgaon Management Development Institute
Management Development Institute (MDI) is one of the best business schools in India. It is located in Gurgaon. Established in 1973, it is a private college, which was founded by the Industrial Finance Corporation of India.
Its second campus is located at Murshidabad, WB. This institute received international accreditation by the Association of MBAs (AMBA) in 2005. This institute offers different types of postgraduate, executive postgraduate and education programs.
Candidates can enter here for their postgraduate studies based on their CAT and GMAT scores. This institute has a track record of very good placements. The average package received by the students this year is Rs. 20 LPA while the highest package secured was around Rs. 40 LPA.
Some of the reputed companies used to come here for recruitment purposes on a regular basis. Some of these companies are Asian Paints, GCPL, Coca-Cola, ITC Limited, MARS, L’Oréal, Nivea, Aditya Birla Retail, Mother Dairy, HP India, Sprinklr, Cipla, Airtel, and OYO Rooms. MDI offers various scholarships to those who need the most.
P. Jindal scholarship worth INR 1.5 lacs is available in this institute. Besides that, the college also provides some grants, financial waivers, and aids for the meritorious students. Students of MDI who go to foreign universities through an exchange program are also provided international scholarships.
Those are scholarships offered in the French Universities, Eiffel Scholarships for the students opted to go to France for a dual-degree program, DAAD Scholarship for students switched to Germany for higher studies, and more.
Address: Block C, Sukhrali, Sector 17, Gurugram
Phone: 0124 456 0000
SPJIMR S.P Jain Institute of Management and Research
S P Jain Institute of Management and Research (SPJIMR) is a top-rated management school. It was established in 1981 and located in Mumbai. It is a part of Bharatiya Vidya Bhavan(India education trust).
It has been ranked within the top10 business schools in the country. The institute has been accredited by The Association to Advance Collegiate Schools of Business (AACSB International).
Some of the common and popular programs like Post Graduate Diploma in Management (PGDM), Management Development Programme (MDP), Post Graduate Programme in Family Managed Business (PGPFMB), Global Management Programme, and many more are offered by this institute.
For the 2019 batch, this institute has an impressive placement stats. More than 72 percent of students of that batch got offers with a package of Rs.20 LPA or above.
The average salary of that batch was around Rs. 22 LPA. Some of the prestigious companies used to visit this institute during the recruitment procedures.
Those are McKinsey & Company, Microsoft, Google, Airtel, Hindustan Unilever, Mahindra, Deloitte, Philips, Jindal Steel & Power, Reliance Industries Limited, Citibank, Amazon, American Express, Paytm, and more. SPJIMR gives scholarships and financial aids to the candidates who are deserving.
Address: Inside Bhavans College Campus, Munshi Nagar, Dadabhai Road, Andheri West, Mumbai
Phone: 022 2623 7454
Indian School of Business, Hyderabad
It was established in 2001, the Indian School of Business is a private business institution and a top-rated institute too. This institute has two different campuses. Its main campus is in Hyderabad and the other one is in Mohali.
This institute offers both short term courses as well as postgraduate programs and it is in partnership with several international business schools. For admission to the postgraduate diploma program, the students need to take GMAT or GRE.
For admission in PGP, the students need to pass the Business Aptitude Test (BAT), conducted by the institute. There is also an Executive Fellow Programme in Management course available.
In the last year, the average salary package offered was Rs. 23 LPA and the highest salary offered was about Rs. 70 LPA. Some of the top companies like Accenture, Apple, Microsoft, Aditya Birla, Nestle, Pepsico, Axis Bank, Ernst & Young, Citibank, Mckinsey, ABP News Network, Amway, Hindustan Unilever, Genpact India, Amazon, Infosys used to come here to hire candidates.
There are need-based scholarships, grants, and waivers provided to the student with lower family income and excellent academic performance. Bajaj Auto Scholarship, Hilti Scholarship, Jagannath Arora Scholarship, Lakshya Scholarship for Women, D’decor Scholarship those are such need-based scholarships.
Address: Gachibowli, Hyderabad
Conclusion:
All those above-mentioned institutes are top-rated business schools in India. Many organizations, magazines listed them in the top-10 many times over the past few years.
However, this ranking is not fixed forever. Those ranks do change depending upon the performance of those students, placements and many more factors. However, few institutes are also there in India, which are almost as good as those listed universities.
Somehow it is not possible to enlist those business schools in the list. Anyone can choose their universities based on their priorities such as location, fees, faculties. Placements, courses, and more,
