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The Top 10 Private MBA Colleges In India

Learn more about the top private MBA colleges in India, including fees and post-MBA salary information

Thu Jan 18 2024

The National Institutional Ranking Framework (NIRF) list of the best MBA colleges in India is dominated by public schools such as the Indian Institutes of Management.

Public MBA colleges generally boast a long history of impressive alumni and may offer lower fees thanks to subsidies from the government.

However, private MBA colleges in India also have a lot to offer, including links to multinational corporations and up to 100% placement rates for their graduates.

Here, we break down the top 10 private MBA colleges in India according to the NIRF ranking, including details on their entry requirements, course curriculum, and post-MBA salaries.

Unless stated otherwise, all the schools on this list offer a two-year Post Graduate Diploma in Management (PGDM) and require candidates to have a bachelor’s degree with at least a 50% grade to enter.

10. Goa Institute of Management, Sanquelim

Fees: INR 1,940,000 ($23,335)

The PGDM at the Goa Institute of Management in Sanquelim offers students a strong foundation in business fundamentals, but the school does more than just create generalists.

GIM was named one of the best schools for social impact thanks to its startup incubation practices and community engagement initiatives.

It offers students the opportunity to specialize in healthcare management, big data analytics, or banking, insurance, and financial services.

Salary prospects are strong for GIM grads. The highest international package last year was INR 6,040,000 ($72,650), with the highest domestic package not far behind at INR 5,500,000 ($66,150).

PGDM grads from GIM mostly go into IT and technology (29%), or engineering and manufacturing (22%).

To apply, you will need a valid score on the CAT, GMAT, CMAT, or XAT.

9. Lovely Professional University, Phagwala

Fees: INR 1,600,000 ($19,240)

MBA students at Lovely Professional University hit the ground running in their first term by starting with a course in career planning.

From there, they can choose to specialize in topics such as business analytics, financial markets, and hospital and healthcare management and complete electives in cutting-edge topics like AI, blockchain, and fintech.

LPU boasts industry links with companies including KPMG, the Society for Human Resource Management, and the Digital Marketing Institute. It is no wonder, then, that LPU grads command high salaries: the average for last year’s class was INR 690,000 ($8,300).

The school’s entrance requirements are rigorous, asking that applicants have a minimum grade of 55% at bachelor’s level, a valid score on an LPUNEST, CAT, MAT, CAT, NMAT, or CMAT exam, and complete a video essay and interview.

8. Great Lakes Institute of Management, Chennai 

Fees: INR 1,477,000 ($17,765)

The MBA at Great Lakes Institute of Management is designed for professionals with fewer than three years’ work experience under their belts, but that doesn’t mean it’s a lightweight program.

On the contrary, the school hosts visiting faculty from Ivy League colleges in the USA, including Kellogg, Stanford, and Yale.

The program includes experiential learning with students tackling real business problems under the guidance of a business mentor.

The recruiters snapping up Great Lakes grads include global brands like Deloitte, EY, Amazon, HSBC, and Accenture, with the average salary post-graduation coming to a massive INR 1,450,000 ($17,440).

7. Amrita Vishwa Vidyapeetham, Coimbatore

Fees: INR 1,350,000 ($16,240)

The MBA on offer at Amrita Vishwa Vidyapeetham is highly customizable to students’ ambitions, offering specializations in:

  1. Business Analytics
  2. Finance
  3. HR
  4. Marketing
  5. Operations Management

Students can also apply to complete a dual degree program where in addition to the MBA, they also complete an MSc in International Management at Telecom École de Management in France.

In addition to classroom teaching, students also experience a wealth of hands-on learning, including a summer internship, business research projects, a capstone business simulation program, plus the option to receive additional certifications from the likes of IBM, Lean Sigma, and more.

This is an especially good choice for applicants aspiring to a career in marketing, as 58% of graduates take up marketing roles. Just under a quarter go into finance. The average post-MBA salary for MBAs from Amrita Vishwa Vidyapeetham is INR 672,000 ($8,080).

To apply, you’ll need a valid score in the CAT, XAT, MAT, CMAT, GMAT, or GRE.

6. Amity University, Gautam Budh Nagar

Fees: INR 1,556,000 ($18,710)

Amity University is an internationally recognized institution. As well as its residential MBA program being ranked in the top 30 overall programs in India by NIRF, its online MBA is one of the best in India, ranking higher than any other Indian program in the QS Online MBA rankings 2023.

Electives on the program are wide ranging, offering teaching on thought-provoking topics like leadership, influence, and power, product and brand management, and management of technology and innovation.

The school boasts household names among its industry partners, including Adobe, Sony, Microsoft, Panasonic, Coca Cola, Deutsche Bank, and The Times of India.

In 2023, Amity University graduates took home an average salary of INR 504,000 ($6,060).

Applicants need a minimum GMAT score of 550 (or 525 under the new GMAT scoring system effective from February 1st, 2024), MAT score of 650, or CMAT score of 200 to be eligible for entry.

Read next: 9 Ways Business School In India Is Changing In 2024


5. SVKM's Narsee Monjee Institute of Management Studies, Mumbai 

Fees: INR 2,390,000 ($28,750)

At 600 seats, the MBA at Narsee Monjee is one of the larger classes on this list.

The program offers specializations in finance, information systems, operations and decision sciences, and marketing. Indeed, its marketing specialization is one of the best of its kind in India.

The average postgraduate salary for students at Narsee Monjee 2,663,000 ($32,030), with top recruiters including PwC, IBM, Microsoft, Goldman Sachs, Credit Suisse, Google, and Amazon.

To enter the program, you will need to complete the NMAT exam.

4. SP Jain Institute of Management and Research, Mumbai

Fees: INR 2,400,000 ($28,865)

SP Jain is one of the top MBA colleges in Mumbai and sits at number 20 on NIRF’s list of the best MBA colleges in India. The school’s AMBA-accredited MBA program comprises 235 participants, 69% of them male, with most students hailing from an engineering background.

As well as classroom teaching, students at SP Jain are also treated to immersive learning experiences such as the “PGLab,” a personal leadership growth workshop targeting their people management skills.

SP Jain grads secure some of the highest average salaries of the top private MBA colleges in India. The average salary last year was INR 3,302,000 ($39,720). Over 70% of students receive offers above INR 3,000,000 ($36,085) and over 92% of at least INR 2,500,000 ($30,070).

To be considered for a place, you will need a valid CAT or GMAT score and to complete a personal interview.

3. Symbiosis Institute of Business Management, Pune

Fees: INR 2,459,000 ($29,580)

Symbiosis Institute of Business Management is one of the top MBA colleges in Pune and features a forward-thinking MBA curriculum.

Core courses include teaching on data-driven decision-making and supply chain management, while electives cover India-specific topics such as:

  1. Doing Business in India
  2. Indian Ethos and Values for Management
  3. Indian Film Industry: A Business Perspective

Students can also specialize in marketing, HR, finance, operations and supply chain management, or data analytics.

At the end of the program, Symbiosis Institute grads secure enviable pay packages. The average last year was INR 2,670,000 ($32,115) according to Shiksha.

2. Management Development Institute (MDI) Gurgaon, Gurugram

Fees: INR 1,670,000 ($20,085)

MDI Gurgaon is undoubtedly one of the top private MBA colleges in India.

The school is recognized by multiple reputable institutions, namely the All India Council for Technical Education and the Association of Indian Universities. This means receiving a diploma from MDI Gurgaon is equivalent to a government program.

The school offers specializations in:

  1. Accounting and finance
  2. Operations management
  3. Marketing
  4. Strategy
  5. Information management

Students can also study for one term with a partner institution overseas, with partners including management institutions in France and Japan.

MDI Gurgaon is well-known for its strong work placement outcomes. Most job placement offers for MDI Gurgaon students come from consulting and financial services firms, yielding average salaries of INR 2,767,000 ($33,280) post-graduation.

You’ll need a minimum of three years’ postgraduate work experience to be considered, as well as a valid CAT score. To find out more, read our MDI Gurgaon MBA Application Insider.

1. XLRI-Xavier School of Management, Jamshedpur

Fees: INR 2,315,000 ($27,845)

Finally, we come to the 15-month MBA program at XLRI-Xavier School of Management, ranked in ninth place overall on the NIRF ranking.

The first three terms of this top-ranking program are focused on grounding students in business fundamentals, after which they can dive deeper into their areas of interest with wide-ranging electives such as:

  • Entrepreneurship and new ventures
  • Managing innovation
  • Resource-based strategy
  • Communicating critical decisions
  • Demand forecasting
  • Experiential Workshop on Selling and Negotiating Tactics

XLRI Jamshedpur also offers unique experiential learning elements such as its leadership adventure trip and Village Exposure Program, a consultancy project in which students lend their business expertise to solve problems for rural communities.

Perhaps unsurprisingly for such a reputable program, graduates from XLRI Jamshedpur command the highest average salaries on this list, at INR 2,940,000 ($35,360).

The program requires a minimum of five years’ work experience – high for this list – and a score on the XAT 2024, GMAT, or GRE.

To find out how to craft a winning application, read our XLRI Jamshedpur Application Insider.

*This school did not provide an average salary so the figure shown is the highest domestic payment package.

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